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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2024 | Mar. 31, 2023
Cash flows from operating activities: |  |
Net loss | $ (32,808) | $ (29,361)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and amortization | 775 | 726
Amortization and premium of marketable securities, net | (3,313) | (1,256)
Loss on sale or disposal of assets | 8 |
Stock-based compensation expense | 7,202 | 4,340
Changes in operating assets and liabilities: |  |
Accounts and other receivables | (43) | (967)
Prepaid and other current assets | (6,209) | 2,722
Accounts payable and accrued expenses | (4,781) | (3,448)
Other liabilities | (1,469) | (1,325)
Net cash used in operating activities | (40,638) | (28,569)
Cash flows from investing activities: |  |
Sales and maturities of marketable securities | 77,311 | 127,000
Purchases of marketable securities | (392,178) | (73,846)
Acquisition of property and equipment | (344) | (585)
Net cash (used in ) provided by investing activities | (315,211) | 52,569
Cash flows from financing activities: |  |
Net proceeds from stock issuances | 432,298 |
Proceeds from issuance of stock from employee benefit plans | 3,814 | 694
Net cash provided by financing activities | 436,112 | 694
Net increase in cash and cash equivalents | 80,263 | 24,694
Cash and cash equivalents at beginning of period | 34,814 | 29,429
Cash and cash equivalents at end of period | 115,077 | 54,123
Non-cash investing activities |  |
Accrued construction in progress | $ 105 | $ 134

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- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4 + Details
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