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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (99,652) $ (67,229)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 10,167 7,688
Net accretion of discounts on investments in marketable securities (5,406) (2,188)
Amortization of debt discount and accretion of deferred debt costs 330 456
Loss on extinguishment of debt   1,208
Noncash operating lease expense 351 83
Depreciation 21 24
Other 113  
Changes in operating assets and liabilities:    
Prepaid and other assets (14,319) (5,816)
Accounts payable 9,002 (1,787)
Accrued expenses (1,410) 3,112
Operating lease liabilities (91) (83)
Other noncurrent liabilities 10  
Net cash used in operating activities (100,884) (64,532)
Cash flows from investing activities:    
Proceeds from sales and maturities of marketable securities 178,090 82,880
Purchases of marketable securities (230,139) (180,582)
Net cash used in investing activities (52,049) (97,702)
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offerings, net of issuance costs   296,817
Payments of deferred offering costs (116)  
Proceeds from issuance of common stock in at-the-market public offerings, net of issuance costs 21,049 37,089
Proceeds from term loan facility, net of issuance costs   24,363
Proceeds from issuance of common stock upon exercise of common stock warrants 29,543 15,590
Proceeds from issuance of common stock upon exercise of stock options 61 512
Proceeds from issuance of common stock under employee stock purchase plan 178 142
Payments for taxes related to net share settlement upon vesting of restricted stock units (1,725) (693)
Repayment of term loan   (21,400)
Net cash provided by financing activities 48,990 352,420
Net change in cash and cash equivalents (103,943) 190,186
Cash and cash equivalents at beginning of period 316,161 55,255
Cash and cash equivalents at end of period 212,218 245,441
Supplemental disclosures of cash information:    
Cash paid for interest 1,368 1,198
Cash paid for amounts included in the measurement of lease liabilities $ 239 93
Supplemental disclosures of noncash information:    
Issuance of common stock warrants in connection with term loan   $ 482