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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (177,119) $ (101,944) $ (87,758)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 554 427 292
Stock-based compensation 14,340 11,520 10,577
Amortization of debt-related costs 1,774 741 54
Loss on disposal of property and equipment 0 3 49
Other non-cash adjustments (4,105) 0 0
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (982) (14) 381
Increase in inventories (381) 0 0
(Increase) decrease in prepaid expenses and other current assets (2,899) (316) 2,885
Decrease in other long-term assets 467 656 661
Increase (decrease) in accounts payable and other liabilities 6,454 76 (14,158)
Net cash used in operating activities (161,897) (88,851) (87,017)
Cash flows from investing activities:      
Purchases of property and equipment (470) (1,326) (1,221)
Purchases of investments (223,343) (133,949) (34,261)
Maturities of investments                                                                                        173,870 64,197 37,592
Net cash (used in) provided by investing activities (49,943) (71,078) 2,110
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of fees 138,823 94,205 37,084
Repurchase of common stock (824) (864) (2,675)
Proceeds (repayment) of debt borrowings, net of fees 49,961 48,868 (11,700)
Net cash provided by financing activities 187,960 142,209 22,709
Net decrease in cash and cash equivalents (23,880) (17,720) (62,198)
Cash and cash equivalents at beginning of year                                              46,345 64,065 126,263
Cash and cash equivalents at end of year                                                                           22,465 46,345 64,065
Supplemental disclosure of cash flow information:      
Cash paid for interest 10,057 2,289 799
Supplemental disclosure of noncash investing and financing activities:      
Right-of-use assets obtained in exchange for operating lease liability 0 5,206 1,704
Issuance of equity-classified warrants 307 1,030 0
Issuance of treasury stock 0 6,321 0
Accrual of deferred financing costs $ 250 $ 0 $ 0