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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 $ (45,148) $ (58,749)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,269 1,451
Non-cash interest (income) expense (1) 141
Stock-based compensation expense 4,918 5,452
Loss on disposal of property and equipment 2 3
Changes in operating assets and liabilities:    
Prepaid and other assets 1,373 (597)
Operating lease right-of-use asset 396 338
Accounts payable (76) (1,625)
Accrued expenses and other liabilities (684) (928)
Deferred revenue 34,504  
Operating lease liability (774) (679)
Net cash provided by (used in) operating activities (4,221) (55,193)
Cash flows from investing activities:    
Purchases of property and equipment (30) (486)
Net cash used in investing activities (30) (486)
Cash flows from financing activities:    
Repayments of debt principal (3,333) (5,000)
Payments of finance lease (49) (64)
Proceeds from issuance of common stock under employee stock purchase plan 34 140
Proceeds from exercise of stock options 5 8
Net cash provided by (used in) financing activities 20,994 (4,916)
Increase (decrease) in cash, cash equivalents and restricted cash 16,743 (60,595)
Cash, cash equivalents and restricted cash, beginning of period 46,291 121,947
Cash, cash equivalents and restricted cash, end of period 63,034 61,352
Supplemental cash flow disclosure:    
Cash paid for interest 62 474
Supplemental disclosure of non-cash activities:    
Transfer of finance lease asset to property and equipment 85  
Reconciliation to amounts within the consolidated balance sheets:    
Cash and cash equivalents 61,259 59,772
Restricted cash 1,775 1,580
Cash, cash equivalents and restricted cash, end of period 63,034 $ 61,352
Gilead Stock Purchase Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock and prefunded warrants in connection with the stock purchase agreement/private placement, net of issuance costs 7,605  
Private Placement    
Cash flows from financing activities:    
Proceeds from issuance of common stock and prefunded warrants in connection with the stock purchase agreement/private placement, net of issuance costs 9,908  
At-the-Market Offerings    
Cash flows from financing activities:    
Proceeds from issuance of common stock in connection with at-the-market offering $ 6,824