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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (49,271) $ (42,709)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 54 41
Unrealized foreign currency loss 665 2,103
Stock-based compensation 3,777 4,131
Changes in operating assets and liabilities:    
Other current assets and prepaid expenses 312 139
Accounts payable 449 826
Accrued expenses 4,462 (861)
Other liabilities 63 (114)
Net cash used in operating activities (39,489) (36,444)
Cash flows from investing activities:    
Sale of investments - other 9,796 0
Purchases of property and equipment (125) (40)
Net cash provided by (used in) investing activities 9,671 (40)
Cash flows from financing activities:    
Proceeds from public offering of common stock through At The Market Sales Agreement, net 0 39,584
Proceeds from exercise of stock options 0 5
Proceeds from shares issued in connection with the Company's employee stock purchase plan 96 130
Proceeds from the exercise of pre-funded warrants 51 0
Net cash provided by financing activities 147 39,719
Effect of exchange rate changes on cash and cash equivalents 220 (2,020)
Net change in cash and cash equivalents (29,451) 1,215
Cash and cash equivalents, beginning of period 106,745 86,863
Cash and cash equivalents, end of period 77,294 88,078
Supplemental disclosure of noncash investing and financing activities:    
Operating lease right-of use asset obtained in exchange for lease obligation $ 544 $ 0