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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 $ (43,496) $ (35,321)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,379 5,400
Net amortization of premiums and accretion of discounts on marketable securities 0 (2,543)
Amortization of operating lease right-of-use assets 402 379
Depreciation expense 122 120
Changes in operating assets and liabilities:    
Inventory (104) 0
Prepaid expenses and other current assets 4,015 (6,269)
Other non-current assets (1,682) (100)
Accounts payable (6,785) 4,430
Accrued expenses (6,964) (6,909)
Operating lease liabilities (406) (381)
Other current liabilities 5 13
Other non-current liabilities (700) 0
Net cash used in operating activities (50,214) (41,181)
Cash flows from investing activities:    
Maturities of marketable securities 0 75,660
Purchases of property and equipment (140) (624)
Net cash provided by (used in) investing activities (140) 75,036
Cash flows from financing activities:    
Proceeds from exercises of stock options 0 459
Proceeds from issuance of common stock under the employee stock purchase plan 89 83
Proceeds from issuance of common stock, net of issuance costs 39,285 0
Payments for offering costs (273) 0
Net cash provided by financing activities 39,101 542
Net (decrease) increase in cash and cash equivalents (11,253) 34,397
Cash and cash equivalents at beginning of period 200,641 92,076
Cash and cash equivalents at end of period 189,388 126,473
Supplemental disclosure of cash flow information    
Deferred offering and issuance cost included in accrued expenses $ 133 $ 0