XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows used in operating activities:    
Net loss $ (31,431) $ (27,718)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 426 278
Noncash lease expense 414 432
Stock-based compensation 5,547 6,256
Amortization of premium and discount on marketable securities, net (1,541) (446)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (788) (355)
Accounts payable 631 374
Accrued expenses and other liabilities (5,692) (1,903)
Long-term prepaid expenses and other long-term assets   (6,610)
Operating lease liabilities 643 (442)
Net cash used in operating activities (31,791) (30,134)
Cash flows provided by investing activities:    
Purchases of marketable securities (5,490) (7,191)
Proceeds from maturities of marketable securities 37,000 26,000
Purchases of property and equipment (289) (810)
Net cash provided by investing activities 31,221 17,999
Cash flows used in financing activities:    
Payment of offering costs   (297)
Proceeds from the issuance of common stock in connection with the exercise of stock options 2 28
Payment of withholding taxes related to stock-based compensation to employees (16)  
Net cash used in financing activities (14) (269)
Net decrease in cash, cash equivalents and restricted cash (584) (12,404)
Cash, cash equivalents, and restricted cash at beginning of period 29,335 34,649
Cash, cash equivalents, and restricted cash at end of period 28,751 22,245
Supplemental disclosures:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 109  
Property and equipment in accounts payable and accrued expenses and other current liabilities 269 21
Unrealized (loss) gain on marketable securities $ (458) $ 1,294