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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net loss $ (72,185) $ (61,967)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 15,927 12,740
Operating lease right-of-use asset amortization 1,168 1,168
(Accretion) amortization of discount/premium on marketable securities (2,215) 454
Depreciation 485 508
Other 194  
Changes in operating assets and liabilities:    
Receivable from collaboration partner (29) 1,523
Prepaid expenses and other assets 2,211 (255)
Accounts payable 933 (184)
Payable to collaboration partner (59) (819)
Accrued expenses and other payables (5,661) (1,553)
Deferred revenue   (1,601)
Operating lease liability (1,354) (1,315)
Net cash used in operating activities (60,585) (51,301)
Cash Flows from Investing Activities    
Purchase of marketable securities (34,122) (102,121)
Proceeds from maturities of marketable securities 69,896 132,942
Purchases of property and equipment (186) (563)
Net cash provided by investing activities 35,588 30,258
Cash Flows from Financing Activities    
Proceeds from public offering of common stock, net of issuance costs 107,868  
Proceeds from at-the-market offering, net of issuance costs 24,302 14,553
Proceeds from issuance of common stock upon exercise of stock options and purchases under employee stock purchase plan 3,234 3,213
Tax withholding payments related to net settlement of restricted stock units (769) (186)
Issuance costs related to prior period common stock offering   25
Net cash provided by financing activities 134,635 17,605
Effect of exchange rate changes on cash, cash equivalents and restricted cash   10
Net increase (decrease) in cash, cash equivalents and restricted cash 109,638 (3,428)
Cash, cash equivalents and restricted cash, beginning of period 125,969 123,890
Cash, cash equivalents and restricted cash, end of period 235,607 120,462
Supplemental Disclosure of Non-Cash Financing and Investing Information:    
Purchases of property and equipment in accounts payable and accrued liabilities 61 $ 122
Issuance costs related to common stock offering included in accrued liabilities and other payables $ 78