XML 43 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (58,293) $ (63,059)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,955 841
Stock-based compensation 20,005 17,203
Accretion of discounts on investments, net (7,688) (2,183)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 210 (3,369)
Other long-term assets (1,119) (1,270)
Accounts payable 277 (294)
Accrued expenses (678) 4,156
Deferred revenue (5,922) 1,764
Operating lease right-of-use assets and liabilities, net 678 3,289
Net cash used in operating activities (50,575) (42,922)
Cash flows from investing activities    
Purchases of property and equipment (1,850) (6,445)
Purchases of short-term investments (317,344) (294,389)
Maturities of short-term investments 278,000 359,100
Net cash provided by (used in) investing activities (41,194) 58,266
Cash flows from financing activities    
Proceeds from exercise of common stock options and employee stock purchase plan 3,018 500
Proceeds from the issuance of common stock and pre-funded common stock warrants, net of issuance costs 56,530 0
Net cash provided by financing activities 59,548 500
Net increase (decrease) in cash, cash equivalents and restricted cash (32,221) 15,844
Cash, cash equivalents and restricted cash - beginning of year 52,242 36,398
Cash, cash equivalents and restricted cash - end of period 20,021 52,242
Supplemental disclosure of noncash investing and financing activities    
Unpaid property and equipment 132 109
Vesting of restricted common stock 149 1,034
Unrealized gain (loss) on available-for-sale securities, net 2,200 (1,265)
Operating lease liabilities arising from right-of-use assets $ 0 $ 23,422