XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (36,071) $ (33,442)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,799 4,907
Depreciation expense 832 918
Non-cash interest expense 1,010 410
Non-cash lease expense 381 541
Loss on extinguishment of debt 0 553
Change in fair value of derivative liability (190) (1,609)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (574) (145)
Other receivables 0 805
Accounts payable, accrued expenses and other liabilities (2,348) 15
Deferred revenue 0 (1,340)
Operating lease liability (951) (1,087)
Net cash used in operating activities (34,112) (29,474)
Investing activities:    
Purchases of property and equipment 0 (128)
Net cash used in investing activities 0 (128)
Financing activities:    
Proceeds from at the market offering of common stock, net of issuance costs 347 21,124
Proceeds from drawdown of term loans 0 30,000
Payment of debt issuance costs 0 (673)
Repayment of term loan 0 (40,000)
Proceeds from issuances under Employee Stock Purchase Plan 41 76
Proceeds from stock option exercises 0 12
Net cash provided by financing activities 388 10,539
Net decrease in cash, cash equivalents and restricted cash and cash equivalents (33,724) (19,063)
Cash, cash equivalents and restricted cash and cash equivalents—beginning of period 112,215 155,577
Cash, cash equivalents and restricted cash and cash equivalents—end of period 78,491 136,514
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 77,596 135,303
Restricted cash and cash equivalents 895 1,211
Total cash, cash equivalents and restricted cash and cash equivalents 78,491 136,514
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,562 1,788
Supplemental disclosure of non-cash investing and financing activities:    
Issuance costs in accounts payable and accrued expenses 126 69
Fair value of derivative liability issued with term loan $ 0 $ 4,450