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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (112,961) $ (5,005)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 578 1,293
Noncash lease expense 2,065 1,306
Loss from equity method investment 25,881 5,488
Stock-based compensation expense 7,324 13,054
Accretion of discount on short-term investments (2,948) (1,947)
Non-cash gain on lease termination (8,866) 0
(Gain) loss on disposal of property and equipment (94) 49
Gain on sale of business 0 (131,249)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,988 840
Accounts payable 2,090 (981)
Accrued expenses and other liabilities (11,686) 7,418
Deferred revenue (1,156) (3,208)
Operating lease liabilities (1,445) (719)
Net cash used in operating activities (96,230) (113,661)
Cash flows from investing activities:    
Purchases of short-term investments (73,240) (157,460)
Maturities of short-term investments 174,240 65,461
Proceeds from sale of business 0 130,000
Proceeds from sale of property and equipment 554 0
Purchases of property and equipment (228) (1,285)
Net cash provided by investing activities 101,326 36,716
Cash flows from financing activities:    
Proceeds from issuance of common stock pursuant to employee stock purchase plan 168 595
Proceeds from issuance of common stock from option exercises 16 1
Net cash provided by financing activities 184 596
Net change in cash, cash equivalents and restricted cash 5,280 (76,349)
Cash, cash equivalents and restricted cash, beginning of period 33,986 110,335
Cash, cash equivalents and restricted cash, end of period 39,266 33,986
Supplemental disclosures of noncash investing and financing activities:    
Lease Liability Settled Through Termination Of Lease 28,338 0
Lease liability obtained in exchange for right-of-use asset 1,625 0
Cash paid for income taxes 0 720
Unrealized gain (loss) on available for sale securities, net 399 (397)
Property and equipment additions included in accrued expenses and other liabilities $ 0 $ 8