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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (109,872) $ (80,847)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2,414 2,515
Stock-based compensation expense 13,350 11,070
Net amortization of premiums and discounts on marketable securities 152 673
Changes in operating assets and liabilities:    
Accounts receivable 2,500 (500)
Unbilled accounts receivable 908 (606)
Prepaid expenses and other current assets (170) (134)
Operating lease assets and liabilities (372) (438)
Other assets (1,562) 36
Accounts payable (1,176) 973
Accrued expenses and other liabilities 555 1,950
Deferred revenue (3,777) (13,170)
Net cash used in operating activities (97,050) (78,478)
Investing activities    
Purchases of marketable securities (151,153) (216,234)
Maturities of marketable securities 165,529 88,278
Purchases of property and equipment (1,963) (1,713)
Net cash used in investing activities 12,413 (129,669)
Financing activities    
Proceeds from issuance of common stock in connection with public offerings, net of issuance costs 80,804 182,857
Principal payments on capital lease obligations (18)
Proceeds from issuance of common stock under benefit plans, net 3,519 3,668
Net cash provided by financing activities 84,323 186,507
Net decrease in cash, cash equivalents and restricted cash (314) (21,640)
Cash, cash equivalents, and restricted cash, beginning of period 36,504 58,144
Cash, cash equivalents, and restricted cash, end of period 36,190 36,504
Supplemental cash flow information    
Cash paid for operating lease liabilities 2,219
Non-cash investing and financing activities:    
Property and equipment purchases unpaid at end of period 26 37
Cash and cash equivalents 35,098 35,412
Restricted cash $ 1,092 $ 1,092