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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows used in operating activities:    
Net loss $ (70,743) $ (97,739)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense 21,427 20,876
Depreciation and amortization expense 1,338 1,450
Reduction in carrying amount of right-of-use asset 4,790 4,596
Net accretion of discounts on marketable securities (4,315) (2,817)
Amortization of debt discount − related party 0 405
Loss on early extinguishment of debt 0 621
Other 53 120
Changes in operating assets and liabilities:    
Accounts receivable 1,458 973
Prepaid expenses and other current and long-term assets (4,300) 1,404
Accounts payable 57 104
Accrued expenses and other current liabilities (5,242) (3,866)
Operating lease liability (3,881) (3,489)
Deferred revenue 12,133 (5,467)
Net cash used in operating activities (47,225) (82,829)
Cash flows (used in) provided by investing activities:    
Proceeds from maturities of marketable securities 178,781 219,975
Purchases of marketable securities (243,537) (92,020)
Purchases of property and equipment, net (184) (1,551)
Net cash (used in) provided by investing activities (64,940) 126,404
Cash flows provided by (used in) financing activities:    
Proceeds from exercise of stock options 667 58
Payments for repurchase of common stock for tax withholding (194) (110)
Payment of long-term debt − related party 0 (12,500)
Other 381 369
Net cash provided by (used in) financing activities 45,224 (12,183)
Net change in cash, cash equivalents and restricted cash (66,941) 31,392
Cash, cash equivalents and restricted cash at beginning of period 130,033 33,033
Cash, cash equivalents and restricted cash at end of period 63,092 64,425
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at end of period 63,092 64,425
Less: restricted cash (3,443) (3,454)
Cash and cash equivalents at end of the period 59,649 60,971
Supplemental disclosures of cash flow information:    
Cash paid for leases 6,614 6,421
Cash paid for income taxes 0 1,003
Cash paid for interest − related party 0 990
At-The-Market    
Cash flows provided by (used in) financing activities:    
Proceeds from issuance of common stock 24,370 0
Stock Purchase Agreement    
Cash flows provided by (used in) financing activities:    
Proceeds from issuance of common stock $ 20,000 $ 0