XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (50,773) $ (34,342)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]    
Depreciation and amortization 259 449
Share-based compensation 6,543 6,322
Amortization of premium and discount on marketable securities (477) (1,381)
ROU asset amortization 843 945
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,804 (4,318)
Accounts payable 846 (3,130)
Accrued expenses 2,397 402
Operating lease liability (331) (640)
Net cash used in operating activities (35,889) (35,693)
Cash flows from investing activities:    
Purchase of property and equipment (25) (44)
Purchases of marketable securities (167,082) (78,297)
Proceeds from sale or maturities of marketable securities 77,179 109,743
Net cash (used in) provided by investing activities (89,928) 31,402
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants 137,999 18,113
Issuance costs from issuance of common stock (8,638) (545)
Taxes paid related to net shares settlement of RSUs (815) (136)
Net cash provided by financing activities 128,546 17,432
Net change in cash, cash equivalents and restricted cash 2,729 13,141
Cash, cash equivalents and restricted cash at beginning of period 44,051 24,228
Cash, cash equivalents and restricted cash at end of period 46,780 37,369
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 46,212 19,404
Restricted cash 568 0
Total cash, cash equivalents and restricted cash 46,780 19,404
Supplemental disclosure of cash flow information    
Unrealized gain (loss) on marketable securities $ 64 $ (449)