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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (36,079) $ (45,857)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,443 1,360
Stock-based compensation 10,307 10,975
Amortization of premiums and accretion of discounts on marketable securities (4,579) (2,596)
Amortization of right-of-use assets 848 742
Changes in operating assets and liabilities:    
Receivable from collaboration partner 0 (2,112)
Prepaid expenses and other current assets (2,361) (977)
Other assets 16 (2,395)
Accounts payable 918 (914)
Accrued liabilities and accrued clinical supply costs (10,304) (7,020)
Payable to collaboration partner 7,929 0
Deferred revenue (15,893) 1,251
Refund liability to collaboration partner (12,230) 0
Lease liabilities (1,361) (1,144)
Other long-term liabilities 0 139
Net cash used in operating activities (61,346) (48,548)
Cash flows from investing activities:    
Purchase of property and equipment (533) (1,025)
Purchase of marketable securities (196,466) (120,274)
Maturities of marketable securities 185,234 210,000
Net cash provided by (used in) investing activities (11,765) 88,701
Cash flows from financing activities:    
Proceeds from issuance of common stock upon public offering, net of issuance costs 71,108 0
Proceeds from the exercise of options to purchase common stock 0 1,079
Net cash provided by financing activities 71,108 1,079
Net increase (decrease) in cash, cash equivalents, and restricted cash (2,003) 41,232
Cash, cash equivalents, and restricted cash at beginning of period 76,101 155,795
Cash, cash equivalents, and restricted cash at end of period 74,098 197,027
Non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable and accrued liabilities $ 31 $ 305