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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (40,133) $ (71,174)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation expense 6,489 6,850
Depreciation and amortization expense 1,559 1,400
Non-cash operating lease cost 2,393 2,070
Net (accretion) amortization of (discounts) premiums on investments 0 (187)
Amortization of debt issuance costs 465 187
Loss on disposal of fixed assets 293 0
Impairment of long-lived assets 3,267 0
Change in fair value of warrant liabilities (416) 0
Collaboration (profit) loss sharing - related party (3) [1] 0 3,607
Changes in operating assets and liabilities:    
Prepaid expenses and other current and other non-current assets 4,406 3,044
Collaboration receivable - related party 1,256 0
Inventories (12,326) 0
Deferred income - related party 379 0
Deferred revenue - related party 0 522
Accounts payable 1,594 (3,806)
Operating lease liabilities (218) (67)
Accrued expenses and other current and long-term liabilities (4) [2] (4,244) (19,030)
Net cash used in operating activities (35,236) (76,584)
Cash flows from investing activities:    
Purchases of property and equipment (62) (4,068)
Purchases of investments 0 (4,426)
Sales and maturities of investments 0 11,233
Net cash (used in) provided by investing activities (62) 2,739
Cash flows from financing activities:    
Proceeds from at the market equity offering, net of issuance costs 18,409 4,239
Proceeds from exercise of stock options 0 188
Issuance of common stock under ESPP 353 1,229
Net cash provided by financing activities 18,762 5,656
Net (decrease) in cash, cash equivalents, and restricted cash (16,536) (68,189)
Cash, cash equivalents and restricted cash at beginning of period 136,150 171,215
Cash, cash equivalents and restricted cash at end of period 119,614 103,026
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,580 1,737
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable and accrued expenses $ 0 $ 928
[1] Includes non-cash collaboration profits and losses related to pre-launch activities; subsequent to the approval of VOWST in April 2023, collaboration (profit) loss sharing - related party is included within changes in operating assets and liabilities
[2] Includes related party amounts of $8,158 and $(9,812) at March 31, 2024 and 2023, respectively (see Note 17)