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STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net loss $ (25,478) $ (24,829) $ (72,367) $ (68,275)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation     769 719  
Stock-based compensation expense     11,303 11,330  
Loss on fixed asset disposals     9 0  
Accretion of discount on investments, net     (4,046) (422)  
Changes in operating assets and liabilities:          
Prepaid expenses and other assets     615 (247)  
Accounts payable and accrued other liabilities     2,299 (2,919)  
Net cash used in operating activities     (61,418) (59,814)  
Cash flows from investing activities:          
Acquisitions of property and equipment     (792) (1,791)  
Purchases of investments     (210,274) (206,492)  
Maturities of investments     146,700 70,735  
Net cash provided by (used in) investing activities     (64,366) (137,548)  
Cash flows from financing activities:          
Proceeds from issuance of common stock and pre-funded warrants, net     84,774 0  
Proceeds from issuance of common stock under ESPP     400 354  
Proceeds from stock option exercises     31 78  
Net cash provided by financing activities     85,205 432  
Net decrease in cash, cash equivalents and restricted cash     (40,579) (196,930)  
Cash, cash equivalents and restricted cash at beginning of period     67,308 226,474 $ 226,474
Cash, cash equivalents and restricted cash at end of period 26,729 29,544 26,729 29,544 67,308
Cash and cash equivalents 26,238 29,076 26,238 29,076 66,840
Restricted cash included in other assets 491 468 491 468  
Total cash, cash equivalents and restricted cash $ 26,729 $ 29,544 $ 26,729 $ 29,544 $ 67,308