CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (15,475)	$ (48,235)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	1,565	2,168
Depreciation and amortization	142	22
Loss on disposal of fixed assets	3	0
In process research and development expenses	0	30,393
Amortization/accretion on marketable securities	(709)	893
Changes in operating assets and liabilities:
Prepaid and other current assets	(314)	29
Other assets	130	178
Accounts payable, accrued liabilities and other liabilities	(1,305)	(150)
Net cash used in operating activities	(15,963)	(14,702)
Cash flows from investing activities:
Purchase of marketable securities	(77,355)	(68,481)
Sale of marketable securities	93,171	93,865
Asset acquisition costs, net of cash acquired related to merger with Cend	0	(3,320)
Purchase of property and equipment	0	(259)
Net cash provided by investing activities	15,816	21,805
Cash flows from financing activities:
Proceeds from option exercises	155	0
Tax withholding payments on net share settlement equity awards	(91)	(267)
Net proceeds from issuance of common stock	297	29
Net cash provided by (used in) financing activities	361	(238)
Effect of exchange rate changes on cash	60	(34)
Net increase in cash and cash equivalents	274	6,831
Cash and cash equivalents at beginning of period	32,154	24,647
Cash and cash equivalents at end of period	32,428	31,478
Supplemental disclosure of noncash investing activities:
Issuance of common stock in connection with merger	0	23,580
Incremental fair value of Cend's fully vested stock options assumed	$ 0	$ 2,136