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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (51,681) $ (28,836)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 4,998 3,551
Net accretion of discounts on investments in marketable securities (2,822) (1,040)
Amortization of debt discount and accretion of deferred debt costs 162 219
Loss on extinguishment of debt   1,208
Noncash operating lease expense 175 41
Depreciation 9 14
Changes in operating assets and liabilities:    
Prepaid and other assets 2,089 (4,599)
Accounts payable 6,767 4,225
Accrued expenses 457 (4,827)
Operating lease liabilities 29 (41)
Other noncurrent liabilities 97  
Net cash used in operating activities (39,720) (30,085)
Cash flows from investing activities:    
Proceeds from sales and maturities of marketable securities 72,140 37,880
Purchases of marketable securities (152,038) (33,774)
Net cash (used in) provided by investing activities (79,898) 4,106
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offerings, net of issuance costs   296,817
Payments of deferred offering costs (253)  
Proceeds from issuance of common stock in at-the-market public offerings, net of issuance costs 21,067 13,422
Proceeds from term loan facility, net of issuance costs   24,363
Proceeds from issuance of common stock upon exercise of common stock warrants 1,798 8,960
Proceeds from issuance of common stock upon exercise of stock options 104 185
Payments for taxes related to net share settlement upon vesting of restricted stock units (1,686) (693)
Repayment of term loan   (21,400)
Net cash provided by financing activities 21,030 321,654
Net change in cash and cash equivalents (98,588) 295,675
Cash and cash equivalents at beginning of period 316,161 55,255
Cash and cash equivalents at end of period 217,573 350,930
Supplemental disclosures of cash information:    
Cash paid for interest 679 542
Cash paid related to operating lease liabilities 46 47
Supplemental disclosures of noncash information:    
Issuance of common stock warrants in connection with term loan   $ 482
Unpaid offering costs included in accrued expenses $ 18