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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (86,202) $ (91,602)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 2,663 2,600
Non-cash lease expense 3,752 3,513
Stock-based compensation 8,138 11,468
Interest amortization on marketable securities (1,137) (3,674)
Changes in operating assets and liabilities:    
Operating lease liabilities (2,806) (2,646)
Prepaid expenses and other current assets (859) 2,558
Accounts payable and accrued liabilities (1,446) 2,678
Other assets 2,300 (1,161)
Net cash used in operating activities (75,597) (76,266)
Cash flow from investing activities    
Purchases of marketable securities (9,914) (58,369)
Proceeds from maturities of marketable securities 107,000 120,000
Purchases of property and equipment (157) (958)
Net cash provided by investing activities 96,929 60,673
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 297 4,593
Repurchases of shares for tax withholdings upon vesting of restricted stock unit awards (303) (1,165)
Proceeds from stock option exercises and the issuance of shares under ESPP 112 202
Net cash provided by financing activities 106 2,913
Net decrease in cash, cash equivalents and restricted cash equivalents 21,438 (12,680)
Cash, cash equivalents and restricted cash equivalents, beginning of period 33,773 60,119
Cash, cash equivalents and restricted cash equivalents, end of period 55,211 47,439
Supplemental disclosure of non-cash activities    
Right-of-use assets obtained in exchange for lease obligations   37
Purchases of property and equipment in accounts payable and accrued liabilities   63
Financing costs associated with the sale of common stock included in accounts payable and accrued expenses $ 22 $ 30