XML 24 R6.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (102,026) $ (90,122)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 10,356 8,678
Net (accretion) amortization on available-for-sale securities (980) 865
Amortization of debt issuance costs and accretion of final payment fee 764 617
Non-cash operating lease expense 175  
Depreciation 65 79
Deferred tax assets 0 (150)
Changes in operating assets and liabilities:    
Prepaid and other current assets 3,331 (5,672)
Accounts payable 5,659 4,778
Accrued expenses 1,750 4,146
Operating lease liability (184)  
Net cash used in operating activities (81,090) (76,781)
Cash flows from investing activities:    
Proceeds from sales and maturities of available-for-sale securities 118,760 148,422
Purchases of available-for-sale securities (152,696) (141,200)
Purchases of property and equipment (7) (63)
Net cash (used in) provided by investing activities (33,943) 7,159
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants in public offering, net of issuance costs 88,239  
Proceeds from issuance of common stock in at-the-market public offering, net of issuance costs 28,453 3,289
Proceeds from issuance of common stock upon exercise of warrants 1,082  
Proceeds from issuance of common stock upon exercise of stock options 305 487
Proceeds from issuance of common stock upon ESPP purchases 50 144
Payment of withholding taxes related to restricted stock units (298)  
Proceeds from term loan facility, net of issuance costs   19,951
Net cash provided by financing activities 117,831 23,871
Net change in cash and cash equivalents, and restricted cash 2,798 (45,751)
Cash and cash equivalents, and restricted cash at beginning of period 52,457 98,208
Cash and cash equivalents, and restricted cash at end of period 55,255 52,457
Components of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 55,255 52,432
Restricted cash 0 25
Total cash and cash equivalents, and restricted cash 55,255 52,457
Supplemental disclosures of cash information:    
Cash paid for interest 1,076 16
Cash paid for operating leases 234  
Supplemental disclosures of noncash information:    
Remeasurement of lease liability and right of use asset in connection with lease modification $ 338  
Issuance of common stock warrant in connection with term loan facility   $ 574