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Consolidated statements of cash flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (78,499) $ (77,741)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,651 1,845
Amortization and accretion of marketable securities (860) (236)
Stock-based compensation 20,331 19,199
Reduction in the carrying amount of right of use assets 1,683 1,669
Changes in assets and liabilities:    
Prepaid expenses and other current assets (393) (824)
Accounts payable, accrued liabilities and lease liabilities 909 (2,059)
Deferred revenue (8,480) (2,272)
Net cash used in operating activities (63,658) (60,418)
Cash flows from investing activities:    
Purchases of marketable securities (138,133)  
Purchases of property and equipment (161) (1,387)
Sales of marketable securities 30,000 92,562
Net cash (used in) provided by investing activities (108,294) 91,175
Cash flows from financing activities:    
Proceeds from Employee Stock Purchase Plan 532 554
Proceeds from issuance of common stock upon exercise of stock options 1,155 367
Proceeds from issuance of common stock in controlled equity offering sales agreements 8,955 44,743
Proceeds from follow-on offering, net of underwriting discounts, commissions and offering costs 119,884  
Net cash provided by financing activities 130,526 45,664
Net (decrease) increase in cash, cash equivalents and restricted cash (41,426) 76,421
Cash, cash equivalents and restricted cash—beginning of period 192,011 114,125
Cash, cash equivalents and restricted cash—end of period 150,585 $ 190,546
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Property and equipment included in accrued expense and accounts payable $ 11