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CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows used in operating activities      
Net Loss $ (31,052) $ (31,127)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 4,656 4,011  
Non-cash operating lease expense   40  
Net accretion of discount on investments (1,981) (896)  
Changes in operating assets and liabilities:      
Prepaid expenses and other assets 314 (426)  
Accounts payable (791) 1,009  
Accrued compensation (2,178) (597)  
Accrued liabilities (838) 3,606  
Operating lease liabilities   (40)  
Other current liabilities (107)    
Net cash used in operating activities (31,977) (24,420)  
Cash flows from investing activities      
Purchases of investments (12,590) (27,136)  
Maturities of investments 55,340 45,900  
Net cash provided by investing activities 42,750 18,764  
Cash flows from financing activities      
Proceeds from issuance of common stock from the "at-the-market" offering, net of commissions and offering expenses   19,050  
Proceeds from issuance of common stock under the ESPP 124 199  
Proceeds from exercise of stock options 225    
Net cash provided by financing activities 349 19,249  
Net increase in cash and cash equivalents 11,122 13,593  
Cash and cash equivalents at the beginning of the period 15,647 27,219 $ 27,219
Cash and cash equivalents at the end of the period $ 26,769 40,812 $ 15,647
Supplemental disclosure of noncash financing items      
Deferred offering costs included in accounts payable and accrued liabilities   $ 450