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Condensed 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 $ (71,079) $ (61,803)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,376 2,370
Accretion of marketable securities (2,063) (846)
Non-cash interest expense related to note payable 224 401
Stock-based compensation 6,687 4,312
Changes in current assets and liabilities:    
Prepaid expenses and other assets (489) 240
Right-of-use assets and lease liabilities, net 2,355 605
Accounts payable 123 (14)
Accrued expense and other liabilities (2,741) 343
Deferred revenue (5,246) (1,100)
Net cash used in operating activities (70,853) (55,492)
Cash flows from investing activities:    
Purchases of property and equipment (2,811) (1,567)
Purchases of marketable securities (87,472) (57,133)
Maturities of marketable securities 152,250 61,147
Net cash provided by investing activities 61,967 2,447
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs   33,131
Proceeds from issuance of pre-funded warrants, net of offering costs   128,272
Proceeds from exercise of stock options   442
Proceeds from issuance of common stock under employee stock purchase plan 191  
Cash paid for debt issuance costs (400)  
Cash paid for financing costs (200)  
Net cash provided by (used in) financing activities (409) 161,845
Net increase (decrease) in cash, cash equivalents and restricted cash (9,295) 108,800
Cash, cash equivalents, and restricted cash - beginning of period 183,720 138,390
Cash, cash equivalents, and restricted cash - end of period 174,425 247,190
Summary of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:    
Cash and cash equivalents 169,394 242,159
Restricted cash 5,031 5,031
Total cash, cash equivalents, and restricted cash 174,425 247,190
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,144 1,510
Supplemental disclosure of non-cash investing and financing activities:    
Purchase of property and equipment in accounts payable and accrued liabilities $ 928 $ 977