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Condensed Statements of Cash Flows (Unaudited)
$ in Thousands
6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Cash flows from operating activities:    
Net loss $ (61,659) $ (65,006)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,278 4,325
Amortization (accretion) of premium (discount) on marketable securities 68 (1,056)
Stock-based compensation 8,835 7,345
Non-cash operating lease expense 1,625 1,530
Other 154 105
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,138 733
Other noncurrent assets 351 (726)
Accounts payable (1,160) (223)
Accrued and other current liabilities (3,754) (1,542)
Operating lease liabilities (2,153) (1,995)
Net cash used in operating activities (52,277) (56,510)
Cash flows from investing activities:    
Purchases of property and equipment (637) (837)
Purchases of marketable securities (34,451) (40,998)
Proceeds from maturities of marketable securities 52,209 74,984
Other 5 (3)
Net cash provided by investing activities 17,126 33,146
Cash flows from financing activities:    
Proceeds from issuance of common stock and pre-funded warrants in follow-on offering, net of issuance costs 46,762  
Proceeds from exercise of stock options and employee stock purchase plan 578 311
Proceeds from exercises of pre-funded warrants 1  
Proceeds from at-the-market sales, net of issuance costs 0 3,868
Payment of accrued offering costs 0 (501)
Net cash provided by financing activities 47,341 3,678
Net change in cash, cash equivalents and restricted cash 12,190 (19,686)
Cash and cash equivalents and restricted cash at beginning of period 46,363 95,671
Cash and cash equivalents and restricted cash at end of period 58,553 75,985
Components of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 58,134 75,565
Restricted cash included in other noncurrent assets 419 420
Cash, cash equivalents and restricted cash 58,553 75,985
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued and other current liabilities $ 98 $ 44