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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss $ (47,931) $ (41,727)
Items not involving cash:    
Depreciation 599 354
Deferred income tax expense 403 288
Stock-based compensation 9,400 5,994
Unrealized foreign exchange (gain) loss 4 (5)
Unrealized fair value gain on trading securities   (1,878)
Changes in operating assets and liabilities:    
Accounts receivable 38 226
Prepaid expenses and other current assets (673) 2,931
Accounts payable and accrued expenses (5,018) (594)
Net cash used in operating activities (43,178) (34,411)
Investing activities:    
Purchases of property, plant and equipment (188) (2,206)
Purchases of marketable securities (176,848) (108,282)
Proceeds from marketable securities 130,834 157,110
Net cash provided by (used in) investing activities (46,202) 46,622
Financing activities:    
Effect of exchange rate changes on cash and cash equivalents (367) 59
Increase (decrease) in cash and cash equivalents (89,747) 12,270
Cash and cash equivalents, beginning of period 148,643 57,242
Cash and cash equivalents, end of period 58,896 69,512
Supplemental disclosures:    
Cash paid for operating lease 411 406
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis $ 2,587 635
Fair value of pre-funded warrants exercised   7,379
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period   $ 1,482