XML 27 R6.htm IDEA: XBRL DOCUMENT v3.24.1
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (117,501) $ (113,837)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 17,199 16,856
Depreciation and amortization expense 5,869 2,637
Accretion of discount and amortization of premium on investments, net (8,940) (818)
Non-cash lease expense 2,222 3,935
Realized (gain) loss on investments (34) 490
Impairment of right-of-use assets 4,100  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,716 (1,489)
Operating lease liabilities 4,986 32,469
Accounts payable and accrued and other liabilities 4,223 2,757
Net cash used in operating activities (86,160) (57,000)
Cash flows from investing activities:    
Purchases of investments (260,233) (385,887)
Proceeds from sales and maturities of investments (367,395) (248,309)
Purchase of property and equipment (28,147) (47,111)
Net cash provided by (used in) investing activities 79,015 (184,689)
Cash flows from financing activities:    
Proceeds from secondary offering, net of issuance costs   215,611
Proceeds from ATM offering, net of issuance costs   1,559
Proceeds from ESPP purchases 530 445
Proceeds from stock option exercises 161 1,397
Net cash provided by financing activities 691 219,012
Net decrease in cash and cash equivalents (6,454) (22,677)
Cash, cash equivalents and restricted cash at beginning of year 40,237 62,914
Cash, cash equivalents and restricted cash at end of year 33,783 40,237
Reconciliation of cash, cash equivalents and restricted cash to the balance sheets:    
Cash and cash equivalents 31,040 37,494
Restricted cash 2,743 2,743
Total cash, cash equivalents and restricted cash 33,783 40,237
Supplemental disclosures of non-cash investing activities:    
Acquisitions of property and equipment recorded in accounts payable and accrued and other current liabilities $ 268 $ 4,579