XML 63 R7.htm IDEA: XBRL DOCUMENT v3.23.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net income (loss) $ (96,842) $ 29,290 $ (5,005) $ (95,764)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 578 997 1,293 8,353
Noncash lease expense 1,091 969 1,306 1,191
Loss from equity method investment (11,917) (4,131) (5,488) 0
Stock-based compensation expense 6,477 9,965 13,054 17,245
Accretion of discount on short-term investments (2,279) (872) (1,947) 894
Loss on disposal of property and equipment 68 0 49 133
Gain on sale of business 0 (131,249) (131,249) 0
Loss from equity method investment 11,917 4,131    
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets 2,966 (5,301) 840 (4,996)
Accounts payable 6,659 2,711 (981) (2,487)
Accrued expenses and other liabilities (2,996) 5,672 7,418 1,500
Deferred revenue (1,156) (2,406) (3,208) (33,411)
Operating lease liabilities (1,138) (369) (719) (2,409)
Net cash used in operating activities (74,655) (86,462) (113,661) (109,751)
Cash flows from investing activities:        
Purchases of short-term investments (73,240) (157,460) (157,460) (97,392)
Maturities of short-term investments 142,740 47,461 65,461 49,000
Proceeds from sale of business 0 130,000 130,000 0
Purchases of property and equipment (228) (1,276) (1,285) (2,396)
Proceeds from sale of property and equipment 338 0   28,900
Net cash provided by investing activities 69,610 18,725 36,716 (50,788)
Cash flows from financing activities:        
Proceeds from issuance of common stock in follow-on public offering, net of discounts and issuance costs     0 49,744
Proceeds from issuance of common stock pursuant to ATM financing, net of discounts and issuance costs     0 1,454
Proceeds from issuance of common stock pursuant to employee stock purchase plan 168 563 595 826
Proceeds from issuance of common stock from option exercises 2 1 1 145
Net cash provided by financing activities 170 564 596 52,169
Net change in cash, cash equivalents and restricted cash (4,875) (67,173) (76,349) (108,370)
Cash, cash equivalents and restricted cash, beginning of period 33,986 110,335 110,335 218,705
Cash, cash equivalents and restricted cash, end of period 29,111 43,162 33,986 110,335
Supplemental disclosures of noncash investing and financing activities:        
Cash paid for income taxes     720 0
Reclassification of liability for common stock vested     0 13
Property and equipment additions included in accounts payable     0 241
Property and equipment additions included in accrued expenses and other liabilities 0 8 8 116
Unrealized loss on available for sale securities, net $ 368 $ (450) $ (397) $ (7)