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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (32,808) $ (29,361)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 775 726
Amortization and premium of marketable securities, net (3,313) (1,256)
Loss on sale or disposal of assets 8  
Stock-based compensation expense 7,202 4,340
Changes in operating assets and liabilities:    
Accounts and other receivables (43) (967)
Prepaid and other current assets (6,209) 2,722
Accounts payable and accrued expenses (4,781) (3,448)
Other liabilities (1,469) (1,325)
Net cash used in operating activities (40,638) (28,569)
Cash flows from investing activities:    
Sales and maturities of marketable securities 77,311 127,000
Purchases of marketable securities (392,178) (73,846)
Acquisition of property and equipment (344) (585)
Net cash (used in ) provided by investing activities (315,211) 52,569
Cash flows from financing activities:    
Net proceeds from stock issuances 432,298  
Proceeds from issuance of stock from employee benefit plans 3,814 694
Net cash provided by financing activities 436,112 694
Net increase in cash and cash equivalents 80,263 24,694
Cash and cash equivalents at beginning of period 34,814 29,429
Cash and cash equivalents at end of period 115,077 54,123
Non-cash investing activities    
Accrued construction in progress $ 105 $ 134