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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (45,083) $ (49,609) $ (194,900)
Adjustments to reconcile net loss to net cash flows used in operating activities:      
Stock-based compensation expense 10,174 12,514  
Depreciation expense 450 608  
Noncash lease expense 1,147 1,102  
Net (accretion) amortization of (discounts) premium on marketable securities (1,653) (1,566)  
Changes in operating assets and liabilities:      
Accounts receivable (878) 77  
Inventory (918) (1,258)  
Prepaid expenses and other current assets (1,967) (4,061)  
Other long-term assets (140) 0  
Accounts payable (6,944) 993  
Accrued expenses and other current liabilities (8,196) (7,464)  
Operating lease liabilities (857) (791)  
Net cash flows used in operating activities (54,585) (49,455)  
Cash flows from investing activities:      
Purchases of marketable securities (20,264) (122,860)  
Maturities of marketable securities 83,041 87,021  
Sales of marketable securities 0 785  
Purchases of property and equipment (146) (360)  
Net cash flows provided by (used in) investing activities 62,631 (35,414)  
Cash flows from financing activities:      
Proceeds from offerings of common stock, net of underwriting discounts and commissions 0 135,125  
Proceeds from Warrant Exercises 9 24  
Payments of Stock Issuance Costs 0 (634)  
Proceeds from stock option exercises and employee stock purchase plan 513 171  
Net cash flows provided by financing activities 522 134,686  
Net (decrease) increase in cash and cash equivalents 8,568 49,817  
Effect of exchange rate changes on cash and cash equivalents (847) 79  
Cash and cash equivalents at beginning of period 83,507 64,741 64,741
Cash and cash equivalents at end of period $ 91,228 $ 114,637 $ 83,507