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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows used in operating activities:        
Net loss $ (11,294) $ (8,539) $ (20,339) $ (19,294)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation     3,193 3,821
Operating lease right-of-use asset     683 683
Depreciation     155 109
Amortization of premium (Accretion of discount) on marketable debt securities     (204) 756
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (2,044) (716)
Other assets     (2,237) 54
Accounts payable     266 (562)
Accrued expenses     (1,106) (272)
Operating lease liabilities     (663) (663)
Net cash used in operating activities     (22,296) (16,084)
Cash flows from investing activities:        
Purchase of marketable debt securities     (12,186) (14,428)
Proceeds from maturity and redemption of marketable debt securities     44,405 28,706
Purchase of property and equipment     (8) (31)
Net cash provided by investing activities     32,211 14,247
Cash flows from financing activities:        
Repurchase of shares in connection with settlement of RSUs     (64) (72)
Net cash used in financing activities     (64) (72)
Net increase (decrease) in cash and cash equivalents and restricted cash     9,851 (1,909)
Cash and cash equivalents and restricted cash - beginning of year     24,872 36,469
Cash and cash equivalents and restricted cash - end of period 34,723 34,560 34,723 34,560
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets:        
Cash and cash equivalents 33,978 33,815 33,978 33,815
Restricted cash, non-current 745 745 745 745
Cash and cash equivalents and restricted cash $ 34,723 $ 34,560 $ 34,723 $ 34,560