XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (29,584) $ (25,272)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26 32
Unrealized foreign currency loss 340 516
Stock-based compensation 2,750 1,979
Change in fair value of tranche rights 4,796 0
Fees expensed as part of January 2024 Financing 1,690 0
Changes in operating assets and liabilities:    
Other current assets and prepaid expenses 389 123
Accounts payable 1,794 986
Accrued expenses (6,145) 2,072
Other liabilities (25) 51
Net cash used in operating activities (23,969) (19,513)
Cash flows from investing activities:    
Sale of investments - other 0 5,439
Purchases of property and equipment (31) (104)
Net cash provided by (used in) investing activities (31) 5,335
Cash flows from financing activities:    
Proceeds from public offering of common stock through At The Market Sales Agreement, net 191 0
Proceeds from the exercise of pre-funded warrants 0 51
Proceeds from January 2024 Financing, net of issuance costs 74,273 0
Net cash provided by financing activities 74,464 51
Effect of exchange rate changes on cash and cash equivalents 174 143
Net change in cash and cash equivalents 50,638 (13,984)
Cash and cash equivalents, beginning of period 46,674 106,745
Cash and cash equivalents, end of period 97,312 92,761
Supplemental disclosure of noncash investing and financing activities:    
Conversion of tranche rights liability to equity upon increase in authorized shares 28,396 0
Operating lease right-of use asset obtained in exchange for lease liability $ 0 $ 544