XML 39 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (50,964) $ (49,271)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 57 54
Unrealized foreign currency (gain) loss (147) 665
Stock-based compensation 4,632 3,777
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 375 312
Accounts payable 2,977 449
Accrued expenses (4,420) 4,462
Other liabilities 4 63
Net cash used in operating activities (41,000) (39,489)
Cash flows from investing activities:    
Sale of investments - other 0 9,796
Purchases of property and equipment (211) (125)
Net cash provided by (used in) investing activities (211) 9,671
Cash flows from financing activities:    
Proceeds from public offering of common stock through At The Market Sales Agreement, net 191 0
Proceeds from January 2024 Financing, net of issuance costs 74,273 0
Proceeds from shares issued in connection with the Company's employee stock purchase plan 0 96
Proceeds from the exercise of pre-funded warrants 0 51
Net cash provided by financing activities 74,464 147
Effect of exchange rate changes on cash and cash equivalents (229) 220
Net change in cash and cash equivalents 33,024 (29,451)
Cash and cash equivalents, beginning of period 46,674 106,745
Cash and cash equivalents, end of period 79,698 77,294
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 obligation $ 0 $ 544