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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (111,566) $ (166,014)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,371 1,172
Research and development license expense 3,500 1,250
Stock-based compensation 7,905 18,043
Change in fair value of warrant liability 34,718  
Issuance costs for pre-funded warrant liability 2,567  
Non-cash loss on debt extinguishment 1,366  
Non-cash change in fair value of term loan 1,278  
Debt issuance costs expensed under the fair value option 867  
Impairment of long-lived assets 1,065 36,420
Non-cash lease expense 1,182 1,315
Other 741 906
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 6,011 2,088
Accounts payable (2,295) (7,804)
Accrued expenses and other liabilities (6,277) (9,323)
Deferred revenue (15,451) 33,557
Net cash used in operating activities (73,018) (88,390)
Cash flows from investing activities    
Purchase of research and development license (3,500) (4,250)
Purchase of property, plant and equipment (3,869) (20,619)
Other 17 (61)
Net cash used in investing activities (7,352) (24,930)
Cash flows from financing activities    
Proceeds from Trinity term loan, net 39,550  
Debt issuance costs for term loan (399)  
Repayment of SVB term loan (43,000)  
Proceeds from issuance of common stock and pre-funded warrants from private placement, net of placement agent commissions and other offering costs 140,290  
Payment of offering costs (387) (358)
Proceeds from common stock issuances under ESPP 68 253
Other (229) (1,042)
Net cash provided by financing activities 136,393 52,097
Net increase (decrease) in cash, cash equivalents and restricted cash 56,023 (61,223)
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 146,540 90,517
Cash and cash equivalents 143,940 87,880
Restricted cash 2,600 2,637
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,952 2,775
Supplemental disclosure of noncash investing and financing activities:    
Reclassification of warrants to additional paid-in capital 74,342  
Allocation of proceeds to Success Fee liability 770  
Recognition of asset retirement obligation 449  
Property, plant and equipment in accounts payable and accrued expenses   4,002
Right-of-use assets obtained in exchange for lease liabilities   23,432
Offering costs not yet paid 18 387
Issuance of warrants in connection with private placement 252  
Public Offering    
Cash flows from financing activities    
Net proceeds from issuance of common stock   27,717
Offering to Astellas    
Cash flows from financing activities    
Net proceeds from issuance of common stock   13,887
At-the-Market Offering    
Cash flows from financing activities    
Net proceeds from issuance of common stock   $ 11,640
Private Placement    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 500