XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows used in operating activities:    
Net loss $ (66,171) $ (58,149)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 878 559
Noncash lease expense 811 874
Stock-based compensation 11,645 12,989
Amortization of premium and discount on marketable securities, net (2,873) (805)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (216) (2,540)
Accounts payable 1,708 (1,333)
Deferred revenue 3,000  
Accrued expenses and other liabilities (4,466) (4,493)
Long-term prepaid expenses and other long-term assets   (4,010)
Operating lease liabilities 836 (894)
Net cash used in operating activities (54,848) (57,802)
Cash flows provided by investing activities:    
Purchases of marketable securities (13,372) (128,134)
Proceeds from maturities of marketable securities 71,360 72,500
Purchases of property and equipment (648) (1,793)
Net cash provided by (used in) investing activities 57,340 (57,427)
Cash flows used in financing activities:    
Payment of offering costs (84)  
Proceeds from issuance of common stock and pre-funded warrants, net of offering costs   110,691
Proceeds from the issuance of common stock under ESPP 255 348
Proceeds from the issuance of common stock in connection with the exercise of stock options 4 31
Payment of withholding taxes related to stock-based compensation to employees (34)  
Principal payments on finance lease liabilities (96)  
Net cash provided by financing activities 45 111,070
Net increase (decrease) in cash, cash equivalents and restricted cash 2,537 (4,159)
Cash, cash equivalents, and restricted cash at beginning of period 29,335 34,649
Cash, cash equivalents, and restricted cash at end of period 31,872 30,490
Supplemental disclosures of non-cash activities:    
Property and equipment in accounts payable and accrued expenses and other current liabilities 19 30
Offering costs in accrued expenses and other current liabilities   67
Offering costs in accounts payable 26 201
Unrealized (loss) gain on marketable securities $ (513) $ 981