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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (116,914) $ (117,863)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 3,528 3,492
Non-cash lease expense 5,041 4,727
Stock-based compensation 9,847 13,362
Interest amortization on marketable securities (1,149) (4,660)
Gain on sale of property and equipment (18)  
Changes in operating assets and liabilities:    
Operating lease liabilities (3,830) (3,583)
Prepaid expenses and other current assets (835) 3,270
Accounts payable and accrued liabilities 2,241 2,850
Other assets 2,429 (1,887)
Net cash used in operating activities (99,660) (100,292)
Cash flow from investing activities    
Purchases of marketable securities (9,914) (74,923)
Proceeds from maturities of marketable securities 107,000 147,000
Purchases of property and equipment (229) (1,069)
Net cash provided by investing activities 96,857 71,008
Cash flow from financing activities    
Proceeds from the issuance of common stock from private placement 55,550  
Payment of issuance costs related to underwritten public offering and private placements (2,325) (717)
Proceeds from the issuance of common stock from at-the-market sales agreement, net of issuance costs 275 4,578
Repurchases of shares for tax withholdings upon vesting of restricted stock unit awards (333) (1,187)
Proceeds from stock option exercises and the issuance of shares under ESPP 225 264
Net cash provided by financing activities 53,392 2,938
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents 50,589 (26,346)
Cash, cash equivalents and restricted cash equivalents, beginning of period 33,773 60,119
Cash, cash equivalents and restricted cash equivalents, end of period 84,362 33,773
Supplemental disclosure of non-cash activities    
Purchases of property and equipment in accounts payable and accrued liabilities   70
Financing costs associated with the sale of common stock included in accounts payable and accrued expenses $ 563 $ 27