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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 $ (65,649) $ (44,187)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 19,906 4,617
Depreciation and amortization expense 386 412
Non-cash lease expense 173 211
Accretion of premium on marketable securities (523) (181)
Loss on sale of marketable securities 0 23
Loss (gain) on disposal of property and equipment (2) 118
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (4,070) (1,390)
Accounts payable and other liabilities (28,758) (6,531)
Net cash used in operating activities (78,537) (46,908)
Cash flows from investing activities:    
Purchases of property and equipment (191) (230)
Purchases of marketable securities (181,386) (16,687)
Maturities of marketable securities 1,740 42,150
Sales of marketable securities 0 1,829
Net cash (used in) provided by investing activities (179,837) 27,062
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offering, net of issuance costs 323,851 0
Proceeds from issuance of common stock, net of issuance costs 73,621 28,228
Proceeds from exercise of stock options 10,916 587
Net cash provided by financing activities 408,388 28,815
Net increase in cash, cash equivalents and restricted cash 150,014 8,969
Cash, cash equivalents and restricted cash, beginning of period 123,941 174,466
Cash, cash equivalents and restricted cash, end of period 273,955 183,435
Supplemental disclosures of cash flow information:    
Public offering costs in accounts payable and accrued expenses 0 42
Purchase of property and equipment in accounts payable 27 39
At-The-Market Offering    
Supplemental disclosures of cash flow information:    
Proceeds from issuance of common stock in other receivables $ 24,250 $ 0