XML 12 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (30,804) $ (28,433)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 943 837
Non-cash lease expense 1,232 1,139
Stock-based compensation 3,081 4,068
Interest amortization on marketable securities (797) (1,202)
Changes in operating assets and liabilities:    
Operating lease liabilities (921) (730)
Prepaid expenses and other current assets (710) 7
Accounts payable and accrued liabilities (2,482) (88)
Other assets (7) 134
Net cash used in operating activities (30,465) (24,268)
Cash flow from investing activities    
Purchases of marketable securities (9,913) (23,408)
Proceeds from maturities of marketable securities 54,000 30,000
Purchases of property and equipment (114) (94)
Net cash provided by investing activities 43,973 6,498
Cash flow from financing activities    
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 agreement, net of issuance costs 278 3,622
Shares repurchased for tax withholdings upon vesting of restricted stock unit awards (182) (400)
Proceeds from stock option exercises   14
Net cash provided by financing activities 96 2,519
Net decrease in cash, cash equivalents and restricted cash equivalents 13,604 (15,251)
Cash, cash equivalents and restricted cash equivalents, beginning of period 33,773 60,119
Cash, cash equivalents and restricted cash equivalents, end of period 47,377 44,868
Supplemental disclosure of non-cash activities    
Right-of-use assets obtained in exchange for lease obligations   270
Purchases of property and equipment in accounts payable and accrued liabilities 14 $ 3
Financing costs associated with the sale of common stock included in accounts payable and accrued expenses $ 92