XML 26 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Operating activities    
Net loss $ (56,418) $ (55,193)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,710 2,001
Amortization and accretion on investment securities, net (2,509) (1,897)
Future royalty payment contingency interest accretion 2,546 2,350
Share-based compensation 21,393 25,371
loss on disposal of property and equipment 34 1,352
Loss on impairment of long-lived assets 4,513  
Amortization of right-of-use assets 4,414 4,152
Deferred income taxes (7,573) 3,207
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements (966) (689)
Prepaid clinical and development services 1,965 (526)
Other prepaid and current assets 7,399 (3,921)
Right-of-use lease assets (707) (314)
Other assets 411 (1,233)
Accounts payable 750 6
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities 1,468 (7,095)
Deferred revenue   (216)
Operating lease liabilities 661 (3,001)
Unrecognized tax benefits 9,906 1,102
Other long-term liabilities (532) 7,547
Net cash used in operating activities (11,535) (26,997)
Investing activities    
Purchases of property and equipment (332) (2,488)
Purchases of marketable securities (140,743) (134,534)
Maturities of marketable securities 139,813 31,435
Purchase of derivative (2,292)  
Sale of short-term investments and marketable securities 15,838 71,377
Proceeds from the sale of property and equipment   1,513
Net cash provided by (used in) investing activities 12,284 (32,697)
Financing activities    
Ordinary share repurchases (445) (197,051)
Proceeds from the sale of ordinary shares 99  
Proceeds from ESPP purchases 508 618
Repurchase of shares to satisfy tax withholding (2,659) (2,500)
Net cash used in financing activities (2,497) (198,933)
Net decrease in cash, cash equivalents, and restricted cash (1,748) (258,627)
Cash, cash equivalents, and restricted cash at beginning of period 40,381 299,008
Cash, cash equivalents, and restricted cash at end of period 38,633 40,381
Supplemental disclosure of cash flow information    
Cash paid for income taxes, net $ 109 24
Supplemental disclosure of non-cash activities    
Recognition of tenant improvement allowance assigned to sublease   $ 6,490