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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (32,331) $ (13,670)
Non-cash adjustments to reconcile net loss to net cash provided by (used) in operating activities:    
Stock-based compensation 4,348 620
Non-cash interest expense 0 85
Depreciation and amortization 40 13
Amortization and accretion of short-term investments, net (3,561) 0
Change in fair value of warrant liability 0 (3)
Changes in operating assets and liabilities:    
Prepaid and other assets 569 (132)
Accounts payable and accrued liabilities (including related party amounts of $154 and $200, respectively) 4,980 279
Operating right-of-use assets and lease liabilities, net (6) 36
Contract liability (3,137) (1,127)
Net cash used in operating activities (29,098) (13,899)
Cash flows from investing activities:    
Purchases of short-term investments, available-for-sale (131,353) 0
Maturities of short-term investments, available-for-sale 65,000 0
Purchase of property and equipment (223) (43)
Net cash used in investing activities (66,576) (43)
Cash flows from financing activities:    
Proceeds from exercise of common stock options and employee stock purchase plan 4,173 287
Repayment of bank note payable 0 (1,818)
Net cash provided by (used in) financing activities 4,173 (1,531)
Net change in cash and cash equivalents (91,501) (15,473)
Cash, cash equivalents, and restricted cash at beginning of period 210,518 60,063
Cash, cash equivalents, and restricted cash at end of period 119,017 44,590
Supplemental disclosure of cash flow information:    
Purchases of property and equipment included in accounts payable 91 0
Purchases of property and equipment reclassed from prepaid expenses and other current assets $ 174 $ 0