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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (10,787) $ (7,837)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 154 194
Stock-based compensation 2,003 1,267
Amortization of premium and discount on marketable securities (376) (593)
ROU asset amortization 309 287
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (936) (250)
Accounts payable (3,236) (2,257)
Accrued expenses (699) (2,747)
Operating lease liability (320) (293)
Net cash used in operating activities (13,888) (12,229)
Cash flows from investing activities:    
Purchases of marketable securities (41,878) (54,919)
Proceeds from sale or maturities of marketable securities 37,779 59,188
Net cash (used in) provided by investing activities (4,099) 4,269
Cash flows from financing activities:    
Proceeds from issuance of common stock (18,113) 0
Issuance costs from issuance of common stock (544) 0
Taxes paid related to net shares settlement of RSUs (136) 0
Proceeds from exercise of stock options 0 41
Net cash provided by financing activities 17,433 41
Net change in cash and cash equivalents (554) (7,919)
Cash and cash equivalents at beginning of period 24,228 34,946
Cash and cash equivalents at end of period 23,674 27,027
Supplemental disclosure of cash flow information    
Unrealized (loss) gain on marketable securities $ (127) $ 156