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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (26,337,000) $ (27,820,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,679,000 2,782,000
Depreciation expense 242,000 236,000
Non-cash lease expense 57,000 51,000
Amortization of premiums and accretion of discounts on available-for-sale securities, net (266,000) (331,000)
Loss on disposal of equipment 7,000  
Changes in operating assets and liabilities:    
Unbilled grant receivable   1,227,000
Prepaid expenses and other current and long-term assets, net 1,155,000 (970,000)
Accounts payable and accrued liabilities (3,254,000) (1,292,000)
Operating lease liability (87,000) (77,000)
Net cash used in operating activities (25,804,000) (26,194,000)
Investing activities    
Purchases of available-for-sale securities (5,911,000) (9,712,000)
Maturities of available-for-sale securities 18,957,000 45,475,000
Purchases of property and equipment (5,000) (241,000)
Net cash provided by investing activities 13,041,000 35,522,000
Financing activities    
Proceeds from exercise of common stock options and issuance of common stock under employee stock purchase plan   99,000
Net cash provided by financing activities   99,000
Net (decrease) increase in cash, cash equivalents and restricted cash (12,763,000) 9,427,000
Cash, cash equivalents and restricted cash, beginning of period 91,215,000 96,386,000
Cash, cash equivalents and restricted cash, end of period $ 78,452,000 $ 105,813,000