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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (11,307) $ (9,129)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 14 4
Stock-based compensation expense 1,390 618
Amortization of premiums and accretion of discounts on marketable securities, net (334) 216
Amortization of right-of-use asset 38 33
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (899) 1,416
Other assets (44) (65)
Accounts payable (878) 121
Accrued clinical trial expenses 2,486 281
Operating lease liability (38) (32)
Accrued expenses and other current liabilities (603) (1,762)
Net cash used in operating activities (10,175) (8,299)
Cash flows from investing activities    
Purchases of marketable securities (52,131) (9,090)
Proceeds from maturities and sales of marketable securities 10,204 4,000
Purchases of property and equipment 0 (9)
Net cash used in investing activities (41,927) (5,099)
Net change in cash and cash equivalents (52,102) (13,398)
Cash and cash equivalents at the beginning of the period 130,101 122,162
Cash and cash equivalents at the end of the period 77,999 108,764
Supplemental disclosure of noncash investing activities    
Purchase of property and equipment in accounts payable $ 0 $ 10