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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (61,085) $ (54,277)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 932 971
Accretion on marketable securities (3,890) (2,853)
Stock-based compensation expense 8,785 6,169
Other (5) 1
Non-cash lease expense 1,110 1,122
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (3,479) 3,059
Other long-term assets 486 (262)
Accounts payable 172 (1,497)
Accrued expenses and other liabilities 1,594 1,796
Operating lease liabilities (473) (689)
Net cash used in operating activities (55,853) (46,460)
Cash flows from investing activities:    
Purchases of property and equipment (954) (392)
Purchase of marketable securities (59,103) (88,847)
Maturities of marketable securities 99,183 65,396
Net cash provided by (used in) investing activities 39,126 (23,843)
Cash flows from financing activities:    
Proceeds from exercise of stock options 875 1,007
Proceeds from issuance of common stock under ATM facility, net of issuance costs 0 3,170
Proceeds from ESPP purchase 177 128
Net cash provided by financing activities 1,052 4,305
Net decrease in cash, cash equivalents and restricted cash (15,675) (65,998)
Cash, cash equivalents and restricted cash at beginning of period 41,850 122,370
Cash, cash equivalents and restricted cash at end of period 26,175 56,372
Supplemental disclosure of cash flow information:    
Purchases of property and equipment in accounts payable and accrued expenses and other liabilities 152 65
Initial measurement of right-of-use assets and lease liabilities for operating lease $ 0 $ 20