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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (26,160) $ (40,056)
Adjustments to reconcile net loss to net cash used in operations:    
Stock-based compensation 3,611 5,140
Depreciation 1,865 1,936
Non-cash operating lease expense 241 206
Net amortization of investments (1) (988)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 2,020 3,514
Other assets 32 40
Accounts payable (1,944) 1,225
Accrued expenses and other current liabilities (1,637) (316)
Non-current operating lease liabilities (490) (434)
Deferred revenue 0 2,654
Net cash used in operating activities (22,463) (27,079)
Cash flows from investing activities:    
Maturities of investments 15,600 25,000
Purchases of investments 0 (63,673)
Purchase of property and equipment 0 (17)
Net cash provided by (used in) investing activities 15,600 (38,690)
Cash flows from financing activities:    
Proceeds from the exercises of stock options and purchases pursuant to employee stock purchase plan 8 1,300
Taxes paid related to net share settlement of equity awards (65) (447)
Proceeds from sale of common stock 0 (17)
Net cash (used in) provided by financing activities (57) 836
Net decrease in cash and cash equivalents (6,920) (64,933)
Cash and cash equivalents, beginning of period 57,387 125,626
Cash and cash equivalents, end of period 50,467 60,693
Supplemental disclosures of non-cash financial activities:    
Unpaid amounts related to purchases of property and equipment $ 0 $ 10