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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (70,981) $ (79,116)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation 1,798 1,038
Noncash operating lease expense 2,692 1,538
Stock-based compensation 14,200 10,445
(Accretion) amortization on marketable securities (1,030) (219)
Other, net 22 15
Changes in operating assets and liabilities:    
Accounts Receivable 2,000  
Prepaid expenses and other current assets (3,582) (1,299)
Right-of-use asset   (10,125)
Other long-term assets (42) 63
Accounts payable (1,617) 2,137
Accrued expenses and other liabilities (6,026) 5,849
Operating lease liabilities (1,853) 1,309
Deferred revenue (26,096) (12,449)
Net cash used in operating activities (90,515) (80,814)
Cash flows from investing activities    
Purchase of property and equipment (1,300) (6,651)
Sales and maturities of marketable securities 268,423 160,602
Purchases of marketable securities (259,549) (114,947)
Net cash provided by investing activities 7,574 39,004
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of stock options and purchase of shares under ESPP 1,100 1,096
Proceeds from issuance of common stock and pre-funded warrants, net 80,017  
Payments of transaction costs (178) (8)
Net cash provided by financing activities 80,939 1,088
Net change in cash, cash equivalents and restricted cash (2,002) (40,722)
Cash, cash equivalents and restricted cash, beginning of period 63,958 145,024
Cash, cash equivalents and restricted cash, end of period 61,956 104,302
Supplemental cash flow information:    
Cash paid for leases 4,116 1,413
Supplemental disclosure of noncash investing and financing activity:    
Purchases of property and equipment included in accounts payable and accrued expenses   952
Operating lease liabilities from obtaining right-of-use assets   38,227
Revaluation of right-of-use asset and lease liability upon to lease remeasurement $ (228) $ 311