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Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (104,699) $ (101,067)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,469 1,546
Amortization and accretion of marketable securities (325) (211)
Stock-based compensation 25,257 22,854
Loss on disposal of property and equipment 1  
Reduction in the carrying amount of right of use assets 2,260 1,989
Changes in assets and liabilities:    
Prepaid expenses and other current assets 529 (5,183)
Accounts payable, accrued liabilities, and operating leases (3,208) (3,530)
Deferred revenue (3,351) 51,736
Net cash used in operating activities (81,067) (31,866)
Cash flows from investing activities:    
Purchases of property and equipment (1,616) (3,962)
Purchases of marketable securities 0 (201,320)
Sales of marketable securities 107,562 159,400
Net cash provided by (used in) investing activities 105,946 (45,882)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 371 494
Proceeds from Employee Stock Purchase Plan 555 570
Proceeds from controlled equity offering sales agreement 52,081 45,344
Other 0 1
Net cash provided by financing activities 53,007 46,409
Net increase (decrease) in cash, cash equivalents and restricted cash 77,886 (31,339)
Cash, cash equivalents and restricted cash—beginning of year 114,125 145,464
Cash, cash equivalents and restricted cash—end of year 192,011 114,125
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Right-of-use assets recognized in exchange for operating leases 4,118 1,802
Property and equipment included in accrued expense and accounts payable $ 0 $ 121