XML 15 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (59,431) $ (57,917)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 3,335 3,253
Noncash lease expense 1,673 1,570
Stock-based compensation expense 6,088 11,683
Loss on disposal of property and equipment 103 0
Net amortization of premiums and accretion discounts on investments (2,176) 0
Amortization of deferred debt issuance costs 15 39
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,109 (1,723)
Other non-current assets 188 190
Accounts payable (491) (775)
Operating lease liabilities (1,875) (1,792)
Accrued and other current and non-current liabilities (568) (799)
Net cash used in operating activities (52,030) (46,271)
Cash flows from investing activities    
Purchases of short-term treasury securities (34,369) 0
Maturities of short term treasury securities 66,000 0
Purchases of property and equipment (1,539) (541)
Net cash used in investing activities 30,092 (541)
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 0 195
Proceeds from Employee Stock Purchase Plan 267 198
Taxes withheld and paid related to net share settlement of equity awards (104) (141)
Net cash provided by financing activities 163 111,170
Net change in cash, cash equivalents and restricted cash (21,775) 64,358
Cash and cash equivalents at the beginning of period 59,398 159,711
Cash and cash equivalents, at the end of period 37,623 224,069
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 34,720 224,069
Restricted cash 2,903 0
Cash, cash equivalents and restricted cash in consolidated balance sheets 37,623 224,069
Supplemental disclosures of noncash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued expenses $ 379 $ 256