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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (98,426) $ (108,882)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation expense 16,186 14,336
Depreciation and amortization expense 3,451 3,321
Loss on disposal of property and equipment 3 6
Noncash lease expense 5,210 4,580
Accretion of discount on marketable securities (2,651) (1,295)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 741 (307)
Collaboration receivable 0 300,000
Accounts payable 846 1,614
Accrued expenses and other liabilities (1,797) 1,441
Operating lease liabilities (7,514) (6,975)
Deferred revenue (34,155) (14,227)
Net cash provided by (used in) operating activities (118,106) 193,612
Cash flows from investing activities:    
Purchases of property and equipment (1,224) (1,210)
Purchases of marketable securities (73,901) (409,345)
Proceeds from maturities of marketable securities 219,575 166,233
Net cash provided by (used in) investing activities 144,450 (244,322)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options and employee stock purchase plan 1,778 1,763
Net cash provided by financing activities 1,778 1,763
Net increase (decrease) in cash, cash equivalents and restricted cash 28,122 (48,947)
Cash, cash equivalents and restricted cash at beginning of period 53,922 102,869
Cash, cash equivalents and restricted cash at end of period 82,044 53,922
Supplemental cash flow information:    
Cash paid for taxes 3,551 0
Supplemental disclosure of noncash investing and financing information:    
Purchases of property and equipment included in accounts payable and accrued expenses 35 160
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 80,336 52,214
Restricted cash (non-current) 1,708 1,708
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 82,044 $ 53,922