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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities          
Net loss     $ (70,513) $ (159,307)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation expense $ 300 $ 300 941 1,005  
Stock-based compensation     9,887 5,937  
Research and development license expense       3,500  
Change in fair value of warrant liability     67 100,456  
Issuance costs for pre-funded warrant liability       2,567  
Non-cash change in fair value of term loan     135    
Impairment of long-lived assets 4,838 616 4,838 616  
Non-cash lease expense     916 908  
Other     678 581  
Changes in operating assets and liabilities:          
Prepaid expenses and other assets     (612) 4,008  
Accounts payable     (1,416) (1,065)  
Accrued expenses and other liabilities     (1,527) (4,260)  
Deferred revenue     (6,311) (11,847)  
Net cash used in operating activities     (62,917) (56,901)  
Cash flows from investing activities          
Purchase of research and development license       (3,500)  
Purchase of property, plant and equipment     (376) (3,852)  
Other       10  
Net cash used in investing activities     (376) (7,342)  
Cash flows from financing activities          
Debt issuance costs for term loan     (18)    
Proceeds from issuance of common stock and pre-funded warrants from underwritten public offering, net of underwriting discounts and sales commissions and other offering costs     77,140    
Proceeds from issuance of common stock and pre-funded warrants from private placement, net of placement agent commissions and other offering costs       140,713  
Proceeds from issuance of common stock from private placement       500  
Payment of shelf registration costs       (387)  
Proceeds from common stock issuances under ESPP     89 68  
Other     (170) (253)  
Net cash provided by financing activities     77,041 140,641  
Net increase in cash, cash equivalents and restricted cash     13,748 76,398  
Cash, cash equivalents and restricted cash at the beginning of the period     146,540 90,517 $ 90,517
Cash, cash equivalents and restricted cash at the end of the period 160,288 166,915 160,288 166,915 146,540
Cash and cash equivalents 157,688 164,278 157,688 164,278 $ 143,940
Restricted cash $ 2,600 $ 2,637 2,600 2,637  
Supplemental disclosure of cash flow information:          
Cash paid for interest     3,980 3,665  
Supplemental disclosure of noncash investing and financing activities:          
Issuance of warrants in connection with private placement       252  
Property, plant and equipment in accounts payable and accrued expenses     133 45  
Offering costs not yet paid     $ 360 $ 423