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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (83,815) $ (65,801) $ (80,893)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 7,111 8,038 6,256
Depreciation and amortization 1,567 1,576 996
Purchase net (premium) discount on marketable securities 428 (344) (286)
Net amortization of premium (accretion of discount) on marketable securities (327) 548 73
Non-cash operating lease expense 397 425 628
Other (2) 9 (9)
Changes in operating assets and liabilities:      
Development receivable 440 (815) 0
Accounts payable (2,641) 1,065 (544)
Prepaid expenses and other assets (1,144) (1,216) (1,101)
Deferred revenue (880) 3,576 0
Operating lease liabilities (435) (404) 251
Accrued and other liabilities (843) (373) (1,146)
Net cash used in operating activities (80,144) (53,716) (75,775)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property and equipment (38) (573) (4,280)
Purchases of marketable securities (39,500) (133,079) (129,000)
Proceeds from maturities and sales of marketable securities 96,546 111,033 125,676
Net cash provided by (used in) investing activities 57,008 (22,619) (7,604)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of common stock and pre-funded warrants in registered direct offering, net of offering costs 42,874 0 153,716
Proceeds from employee stock plan purchases and stock option exercises 222 1,903 816
Principal payments on finance lease obligation (418) (510) (20)
Net cash provided by financing activities 42,678 1,393 154,512
Effect of exchange rate on cash, cash equivalents, and restricted cash (106) (15) 51
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 19,436 (74,957) 71,184
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH      
Beginning of period 16,980 91,937 20,753
End of period 36,416 16,980 91,937
Supplemental Disclosure of Non-Cash Investing and Financing Information:      
Leased assets obtained in exchange for lease obligations 21 872 172
Unpaid amounts related to purchase of property and equipment $ 0 $ 0 $ 224