Summary of significant accounting policies and basis of presentation (Tables)

12 Months Ended

Dec. 31, 2023

Summary of significant accounting policies and basis of presentation

Schedule of money market funds and marketable securities

Cash, cash equivalents, and marketable securities as of December 31, 2023 and 2022 consist of the following:

	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(in thousands)
As of December 31, 2023
Money market funds included in cash and cash equivalents	$	65,589		—		—	$	65,589
Marketable securities:
U.S. Treasury notes		102,966		81		(3)		103,044
U.S. Government agency securities		31,068		10		(3)		31,075
Corporate bonds		23,975		2		(7)		23,970
Commercial paper		3,985		—		—		3,985
Total money market funds and marketable securities	$	227,583	$	93	$	(13)	$	227,663
As of December 31, 2022
Money market funds included in cash and cash equivalents	$	91,724	$	—	$	—	$	91,724
Marketable securities:
U.S. Treasury notes		19,980		—		(91)		19,889
Total money market funds and marketable securities	$	111,704	$	—	$	(91)	$	111,613

Reconciliation of cash, cash equivalents, and restricted cash

	As of December 31,
	2023		2022		2021
	(in thousands)
Cash and cash equivalents	$	68,802	$	98,959	$	117,433
Restricted cash included in deposits and other non-current assets		1,593		1,515		1,779
Total cash, cash equivalents, and restricted cash	$	70,395	$	100,474	$	119,212

Outstanding potentially dilutive securities excluded in the calculation of diluted net income (loss) per share

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive:

	As of December 31,
	2023	2022	2021
Unvested restricted common stock awards	22,500	45,000	137,255
Unvested restricted common stock units	1,370,897	1,112,563	806,379
Outstanding stock options	7,425,444	6,199,571	5,013,193
Total	8,818,841	7,357,134	5,956,827

Schedule of weighted average number of shares, basic and diluted

	Year Ended December 31,
	2023		2022		2021
	(in thousands, except share data)
Numerator:
Net income (loss)	$	132,330	$	(46,408)	$	(71,197)
Denominator for basic net income (loss) per share:
Weighted average shares outstanding-basic		43,020,747		38,356,810		37,668,947
Denominator for diluted net income (loss) per share:
Weighted average shares outstanding		43,020,747		38,356,810		37,668,947
Common stock options and restricted stock units		1,548,587		—		—
Weighted average shares outstanding-diluted		44,569,334		38,356,810		37,668,947