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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 $ (117,863) $ (92,094)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 3,492 2,525
Non-cash lease expense 4,727 3,578
Stock-based compensation 13,362 10,695
Interest amortization on marketable securities (4,660) (12)
Changes in operating assets and liabilities:    
Operating lease liabilities, net (3,583) (10,454)
Prepaid expenses and other current assets 3,270 225
Accounts payable and accrued liabilities 2,850 1,114
Other assets (1,887) (721)
Net cash used in operating activities (100,292) (85,144)
Cash flow from investing activities    
Purchases of marketable securities (74,923) (123,189)
Proceeds from maturities of marketable securities 147,000 37,560
Purchases of property and equipment (1,069) (8,462)
Net cash provided by (used in) investing activities 71,008 (94,091)
Cash flow from financing activities    
Proceeds from the issuance of common stock from public offering and concurrent private placement, net of underwriter fees and issuance costs   111,524
Payment of issuance costs related to underwritten public offering and concurrent private placement (717)  
Proceeds from the issuance of common stock from at-the-market sales agreements, net of issuance costs 4,578 4,451
Shares repurchased for tax withholdings upon vesting of restricted stock unit awards (1,187)  
Proceeds from stock option exercises and the issuance of shares under ESPP 264 1,165
Net cash provided by financing activities 2,938 117,140
Net decrease in cash, cash equivalents and restricted cash equivalents (26,346) (62,095)
Cash, cash equivalents and restricted cash equivalents, beginning of period 60,119 122,214
Cash, cash equivalents and restricted cash equivalents, end of period 33,773 60,119
Supplemental disclosure of non-cash activities    
Right-of-use assets obtained in exchange for lease obligations   23,376
Purchases of property and equipment in accounts payable and accrued liabilities 70 38
Financing costs associated with the sale of common stock included in accounts payable and accrued expenses $ 27 $ 812