XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flow from operating activities:    
Net loss $ (23,186) $ (16,520)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,200 2,384
Depreciation and amortization expense 28 21
Accretion of discounts and amortization of premiums on investments, net (759) (671)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,112) 636
Other long-term assets 2 (89)
Accounts payable 835 2,121
Accrued and other liabilities (3,061) 716
Operating lease assets and liabilities, net (12) (31)
Other liabilities 392 9
Net cash used in operating activities (23,673) (11,424)
Cash flow from investing activities:    
Purchases of short-term investments (14,750) (15,609)
Maturities of short-term investments 23,583 31,000
Purchases of property and equipment (16)
Net cash provided by investing activities 8,833 15,375
Cash flow from financing activities:    
Payments for offering costs (233)
Proceeds from issuance of common stock upon exercise of stock options 704 223
Net cash provided by financing activities 471 223
Net (decrease) increase in cash and cash equivalents (14,369) 4,174
Cash and cash equivalents at the beginning of the year 23,491 22,397
Cash and cash equivalents at the end of the period 9,122 26,571
Supplemental disclosure of noncash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability 206
Deferred offering costs included in accounts payable 82 104
Purchases of property and equipment in accounts payable and accrued liabilities $ 30