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STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (23,945) $ (23,159)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 253 251  
Stock-based compensation expense 3,614 3,945  
(Accretion of discount) amortization of premium on investments, net (861) 42  
Changes in operating assets and liabilities:      
Prepaid expenses and other assets 1,103 (536)  
Accounts payable and accrued other liabilities (792) (3,261)  
Net cash used in operating activities (20,628) (22,718)  
Cash flows from investing activities:      
Acquisitions of property and equipment (310) (723)  
Purchases of investments (43,387) (99,937)  
Maturities of investments 56,475 10,000  
Net cash provided by (used in) investing activities 12,778 (90,660)  
Cash flows from financing activities:      
Proceeds from stock option exercises 0 16  
Net cash provided by financing activities 0 16  
Net decrease in cash, cash equivalents and restricted cash (7,850) 113,362  
Cash, cash equivalents and restricted cash at beginning of period 67,308 226,474 $ 226,474
Cash, cash equivalents and restricted cash at end of period 59,458 113,112 67,308
Cash and cash equivalents 58,990 112,644 66,840
Restricted cash included in other assets 468 468  
Total cash, cash equivalents and restricted cash $ 59,458 $ 113,112 $ 67,308