XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows used in operating activities:    
Net loss $ (70,702) $ (59,032)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense 12,676 17,086
Depreciation and amortization expense 1,003 740
Reduction in carrying amount of right-of-use asset 3,048 2,890
Net amortization (accretion) of premiums (discounts) on marketable securities (1,724) 1,082
Amortization of debt discount − related party 354 354
Other 68 0
Changes in operating assets and liabilities:    
Accounts receivable 445 4,007
Prepaid expenses and other current and long-term assets 2,096 1,722
Accounts payable 941 (564)
Accrued expenses and other current liabilities (3,133) (87)
Operating lease liability (2,299) (983)
Deferred revenue 5,105 (16,006)
Net cash used in operating activities (52,122) (48,791)
Cash flows provided by (used in) investing activities:    
Proceeds from maturities of marketable securities 129,708 138,057
Purchases of marketable securities (60,078) (108,132)
Purchases of property and equipment, net (951) (701)
Net cash provided by investing activities 68,679 29,224
Cash flows (used in) provided by financing activities:    
Payment of long-term debt − related party (1,500) 0
Payments for repurchase of common stock for tax withholding (94) 0
Proceeds from exercise of stock options 58 519
Other 106 220
Net cash (used in) provided by financing activities (1,430) 739
Net change in cash, cash equivalents and restricted cash 15,127 (18,828)
Cash, cash equivalents and restricted cash at beginning of period 33,033 79,403
Cash, cash equivalents and restricted cash at end of period 48,160 60,575
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at end of period 48,160 60,575
Less: restricted cash (3,279) (3,279)
Cash and cash equivalents at end of the period 44,881 57,296
Supplemental disclosures of cash flow information:    
Cash paid for interest − related party 852 828
Cash paid for leases 4,271 2,996
Supplemental disclosures of non-cash investing and financing activities:    
Capital expenditures in accounts payable and accrued expenses 223 3,270
Operating lease liabilities arising from obtaining right-of-use assets $ 0 $ 44,067