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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (3,256) $ (19,243)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,116 190
Stock-based compensation 4,320 4,884
Non-cash lease expense 164 144
Accretion of discount on marketable debt securities (1,288) (607)
Changes in operating assets and liabilities:    
Accounts receivable (8,000)  
Prepaid expenses and other assets (2,046) 486
Accounts payable (1,365) (753)
Accrued expenses and other current liabilities (2,143) (13,273)
Operating lease liabilities (552) 1,331
Deferred revenues (7,660)  
Net cash used in operating activities (20,710) (26,841)
Investing activities    
Redemption of marketable debt securities 74,532  
Purchase of marketable debt securities (92,793) (94,987)
Purchase of property and equipment (237) (4,406)
Net cash used in investing activities (18,498) (99,393)
Financing activities    
Proceeds from issuance of common stock and pre-funded warrants in private placement, net of offering costs 46,872  
Proceeds from issuance of common stock pursuant to ATM program, net of offering costs 10,590  
Tax withholding payments related to net settlement of restricted common stock (196)  
Proceeds from the exercise of stock options 245  
Net cash provided by financing activities 57,511  
Net increase (decrease) in cash, cash equivalents, and restricted cash 18,303 (126,234)
Cash, cash equivalents and restricted cash at beginning of year 11,136 180,765
Cash, cash equivalents and restricted cash at end of period 29,439 54,531
Noncash operating, investing and financing activities:    
Property and equipment in accounts payable and accrued expenses   2,261
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 27,967 53,059
Restricted cash 1,472 1,472
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 29,439 $ 54,531