XML 47 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (95,639,000) $ (54,853,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 10,606,000 4,623,000
Depreciation expense 845,000 479,000
Non-cash lease expense 203,000 155,000
Amortization of premiums and accretion of discounts on available-for-sale securities, net (422,000) 493,000
Changes in operating assets and liabilities:    
Unbilled grant receivable 1,109,000 (1,036,000)
Prepaid expenses and other current assets (1,257,000) 1,650,000
Accounts payable and accrued liabilities 2,101,000 5,150,000
Accrued legal settlement 10,000,000  
Operating lease liability (15,000) 241,000
Net cash used in operating activities (72,469,000) (43,098,000)
Investing activities    
Purchases of available-for-sale securities (95,288,000) (299,197,000)
Maturities of available-for-sale securities 154,093,000 278,639,000
Proceeds from sales of available-for-sale securities   18,052,000
Purchases of property and equipment (1,141,000) (1,573,000)
Net cash provided by (used in) investing activities 57,664,000 (4,079,000)
Financing activities    
Proceeds from exercise of common stock options 654,000 327,000
Proceeds from public offering, net of issuance costs   96,762,000
Net cash provided by financing activities 654,000 97,089,000
Net (decrease) increase in cash, cash equivalents and restricted cash (14,151,000) 49,912,000
Cash, cash equivalents and restricted cash, beginning of period 110,537,000 60,625,000
Cash, cash equivalents and restricted cash, end of period $ 96,386,000 110,537,000
Supplemental disclosures of cash flow information:    
Right-of-use asset obtained in exchange for new operating lease liability   $ 680,000