XML 13 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (28,214) $ (28,016)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,680 1,651
Noncash lease expense 845 777
Stock-based compensation expense 3,180 5,679
Net amortization of premiums and accretion discounts on investments (1,208) 0
Amortization of deferred debt issuance costs 15 39
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 762 (200)
Other non-current assets 100 92
Accounts payable 629 (208)
Operating lease liabilities (989) (888)
Accrued and other current and non-current liabilities (2,197) (1,775)
Net cash used in operating activities (25,397) (22,849)
Cash flows from investing activities    
Purchases of short-term treasury securities (34,369) 0
Maturities of short term treasury securities 33,000 0
Purchases of property and equipment (1,492) (239)
Net cash used in investing activities (2,861) (239)
Cash flows from financing activities    
Proceeds from issuance of common stock pursuant to at-the-market offering, net of issuance costs 0 19,266
Proceeds from issuance of common stock and pre-funded warrants pursuant to underwritten public offering, net of issuance costs 0 91,652
Proceeds from exercise of stock options 0 189
Taxes withheld and paid related to net share settlement of equity awards (104) (141)
Net cash provided by financing activities (104) 110,966
Net change in cash, cash equivalents and restricted cash (28,362) 87,878
Cash and cash equivalents at the beginning of period 59,398 159,711
Cash and cash equivalents, at the end of period 31,036 247,589
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 28,133 159,711
Restricted cash 2,903 0
Cash, cash equivalents and restricted cash in consolidated balance sheets 31,036 159,711
Supplemental disclosures of noncash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued expenses $ 224 $ 320