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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flow from operating activities:    
Net loss $ (35,545) $ (22,901)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,418 2,248
Depreciation and amortization expense 43 28
Accretion of discounts and amortization of premiums on investments, net (1,310) (32)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (98) 5,493
Other long-term assets (55) (428)
Accounts payable 2,894 875
Accrued and other liabilities 2,554 191
Operating lease assets and liabilities, net (43) (11)
Other liabilities (225)
Net cash used in operating activities (26,367) (14,537)
Cash flow from investing activities:    
Purchases of short-term investments (48,346) (71,791)
Maturities of short-term investments 67,750 59,744
Purchases of property and equipment (46) (158)
Net cash provided by (used in) investing activities 19,358 (12,205)
Cash flow from financing activities:    
Proceeds from sale of common stock in connection with ATM, net 44,888
Payments for offering costs (159)
Proceeds from issuance of common stock under ESPP 228
Proceeds from issuance of common stock upon exercise of stock options 556 2
Net cash provided by financing activities 45,513 2
Net increase (decrease) in cash and cash equivalents 38,504 (26,740)
Cash and cash equivalents at the beginning of the year 22,397 54,197
Cash and cash equivalents at the end of the period 60,901 27,457
Supplemental disclosure of noncash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability   765
Offering costs included in accounts payable $ 75 $ 1