XML 47 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (42,220) $ (84,409)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 674 533
Research and development license expense 3,500 1,250
Stock-based compensation 3,897 9,470
Non-cash lease expense 603 646
Other 387 387
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 509 80
Accounts payable 2,123 6,212
Accrued expenses and other liabilities (1,324) (8,461)
Deferred revenue (7,101)  
Net cash used in operating activities (38,952) (74,292)
Cash flows from investing activities    
Purchase of research and development license   (3,250)
Purchase of property, plant and equipment (3,852) (16,290)
Net cash used in investing activities (3,852) (19,540)
Cash flows from financing activities    
Net proceeds from issuance of common stock   11,640
Payment of shelf registration costs (387) (227)
Proceeds from common stock issuances under ESPP 50 321
Other (156) (766)
Net cash provided by financing activities 7 10,968
Net decrease in cash, cash equivalents and restricted cash (42,797) (82,864)
Cash, cash equivalents and restricted cash at the beginning of the period 90,517 151,740
Cash, cash equivalents and restricted cash at the end of the period 47,720 68,876
Cash and cash equivalents 45,083 66,239
Restricted cash 2,637 2,637
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,399 935
Supplemental disclosure of noncash investing and financing activities:    
Property, plant and equipment in accounts payable and accrued expenses   2,722
Right-of-use assets obtained in exchange for lease liabilities   18,925
Offering costs not yet paid   109
Issuance of warrants in connection with private placement 252  
Purchase of research and development license not yet paid 3,500 $ 1,000
Private Placement    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 500