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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (38,122) $ (30,098)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 99 57
Accretion and amortization on investments, net (1,727) 196
Amortization of debt issuance costs/debt discounts 242 349
Stock-based compensation for services by non-employees 112 15
Stock-based compensation for employees and directors 2,961 1,692
Amortization of right-of-use assets 152 141
Changes in assets and liabilities:    
Current and noncurrent assets 1,915 (7,293)
Current and noncurrent liabilities (11,997) 967
Net cash used in operating activities (46,365) (33,974)
Cash flows from investing activities:    
Purchases of property and equipment (372) (50)
Purchases of marketable securities (241,611) (18,104)
Proceeds from maturities of marketable securities 63,250 48,581
Net cash (used in) provided by investing activities (178,733) 30,427
Cash flows from financing activities:    
Proceeds from issuances of common stock from equity plans 7,875  
Proceeds from issuance of common stock from public offering and pre-funded warrant, net of paid issuance costs 213,337  
Proceeds from exercise of warrants 59,835  
Net cash provided by financing activities 281,047  
Effect of exchange rates on cash, cash equivalents and restricted cash (16) 1
Net increase (decrease) in cash, cash equivalents and restricted cash 55,933 (3,546)
Cash, cash equivalents and restricted cash at the beginning of the period 57,209 35,235
Cash, cash equivalents and restricted cash at the end of the period $ 113,142 $ 31,689