XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (23,499) $ (131,669)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 725 1,315
Stock-based compensation expense 15,654 22,486
Amortization of operating lease right-of-use assets 2,351 2,064
Amortization of long-term debt discount and issuance costs 848 1,013
Amortization of premium on marketable securities, net of accretion of discounts (9,698) (5,868)
Loss on disposal of property and equipment 621 726
Changes in operating assets and liabilities:    
Receivable from contracts with collaborators (6,588) 0
Prepaid expenses and other current assets (552) (6,400)
Other assets 335 31
Operating lease liabilities (2,351) (2,216)
Accounts payable (4,736) (272)
Accrued expenses and other current liabilities (9,778) (1,255)
Accrued research and development expenses 2,499 (3,636)
Accrued compensation and benefits (290) (4,483)
Contract liabilities 64,107 0
Accrued interest expense 2,365 2,430
Net cash provided by (used in) operating activities 32,013 (125,734)
Cash flows from investing activities    
Purchase of marketable securities (411,093) (321,404)
Maturities of marketable securities 386,900 224,800
Net cash used in investing activities (24,193) (96,604)
Cash flows from financing activities    
Proceeds from issuance of common stock and common warrants in a private offering, net of offering costs 0 201,323
Proceeds from issuance of common stock pursuant to Employee Stock Purchase Plan 629 444
Proceeds from grant of equity option pursuant to Chiesi Collaboration Agreement 464 0
Principal repayments of long-term debt (12,581) (8,710)
Net cash provided by (used in) financing activities (11,488) 193,057
Effect of exchange rate changes on cash and cash equivalents 23 (83)
Net decrease in cash and cash equivalents (3,645) (29,364)
Cash and cash equivalents, at the beginning of the period 32,109 111,973
Cash and cash equivalents, at the end of the period 28,464 82,609
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,561 6,831
Supplemental disclosure of noncash investing and financing activities:    
Operating lease right-of-use asset obtained in exchange for lease liability 5,246 0
Change in unrealized gain on marketable securities, net $ 363 $ 102