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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities        
Net loss     $ (60,254) $ (53,945)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation $ 5,228 $ 3,842 9,698 7,592
Amortization of intangible assets 0 800 527 1,581
Change in fair value of 2022 USD Financing Warrants (13,445) 1,504 19,448 6,690
Gain on extinguishment of contribution payable (2,541)   (2,541)  
Unrealized foreign exchange     510 (337)
Other non-cash adjustments     152 28
Changes in operating assets and liabilities:        
Prepaid and other current assets     (1,019) 1,017
Other noncurrent assets     90 35
Accounts payable     (1,453) 6,466
Accrued expenses     (1,713) 3,889
Other liabilities, long-term     (32) (192)
Net cash used in operating activities     (36,587) (27,176)
Cash flows from financing activities        
Proceeds from the March Offering and Private Placement     175,000  
Payment of issuance costs from the March Offering and Private Placement     (10,807)  
Proceeds from credit facility     10,000  
Payment of credit facility issuance costs     (128)  
Proceeds from the 2022 ATM net of issuance costs     984 1,857
Payment of deferred financing fees related to 2024 ATM     (30)  
Proceeds from exercise of 2022 USD Financing Warrants     4,431  
Proceeds from exercise of options     639  
Withholding taxes paid on vested RSUs     (54)  
Net cash provided by financing activities     180,035 1,857
Effect of exchange rate changes on cash     (20) 72
Net increase/(decrease) in cash and cash equivalents     143,428 (25,247)
Cash, beginning of period     99,704 142,142
Cash, end of period $ 243,132 $ 116,895 243,132 $ 116,895
Supplemental Cash Flow Information        
Cash paid for interest     873  
Supplemental Noncash Disclosures        
Conversion of 2022 USD Financing Warrants to common shares upon exercise of warrants     5,244  
Unpaid issuance costs for the March Offering and Private Placement     253  
Deferred financing fees related to 2024 ATM included in accrued expenses     400  
Reclass of deferred financing fees related to 2022 ATM to additional paid-in capital     $ 332