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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (101,954) $ (77,424)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 12,069 7,598
Net accretion on available-for-sale securities (4,297) (183)
Accretion of final payment fee on term loan 285 365
Amortization of debt issuance costs 410 227
Loss on extinguishment of term loan facility 1,208  
Noncash operating lease expense 125 135
Depreciation 34 50
Changes in operating assets and liabilities:    
Prepaid and other current assets (3,238) 4,756
Other assets   72
Accounts payable (1,599) 7,308
Accrued expenses 2,189 3,243
Operating lease liability (125) (141)
Net cash used in operating activities (94,893) (53,994)
Cash flows from investing activities:    
Proceeds from sales and maturities of available-for-sale securities 157,428 87,260
Purchases of available-for-sale securities (216,804) (110,137)
Purchases of property and equipment   (5)
Net cash used in investing activities (59,376) (22,882)
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offering, net of issuance costs 296,817 88,239
Proceeds from issuance of common stock in at-the-market public offering, net of issuance costs 37,089 8,370
Proceeds from term loan facility, net of issuance costs 24,363  
Proceeds from issuance of common stock upon exercise of warrants 15,590 53
Proceeds from issuance of common stock upon exercise of stock options 629 237
Proceeds from issuance of common stock upon ESPP purchases 142 43
Payment of withholding taxes related to restricted stock units (2,290) (122)
Repayment of term loan facility (21,400)  
Net cash provided by financing activities 350,940 96,820
Net change in cash and cash equivalents, and restricted cash 196,671 19,944
Cash and cash equivalents, and restricted cash at beginning of period 55,255 52,457
Cash and cash equivalents at end of period 251,926 72,401
Supplemental disclosures of cash information:    
Cash paid for interest 1,913 706
Cash paid for operating leases 139 187
Supplemental disclosures of noncash information:    
Issuance of common stock warrants in connection with term loan $ 482  
Remeasurement of lease liability and right of use asset in connection with lease modification   $ 338