XML 89 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (101,826) $ (76,838)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 283 256
Stock-based compensation 9,161 7,230
Amortization of debt-related costs 1,042 538
Other non-cash adjustments (5,110) 0
Changes in operating assets and liabilities:    
Increase in accounts receivable (1,610) (657)
Increase in inventories (204) (172)
Increase in prepaid expenses and other current assets (2,545) (3,643)
Decrease in other long-term assets 337 561
(Decrease) increase in accounts payable and other liabilities (3,198) 2,995
Net cash used in operating activities (103,670) (69,730)
Cash flows from investing activities:    
Purchases of property and equipment (250) (387)
Purchases of investments (260,297) (150,998)
Maturities of investments 138,000 88,870
Net cash used in investing activities (122,547) (62,515)
Cash flows from financing activities:    
Proceeds from issuance of common stock for equity incentive plans 89 0
Proceeds from issuance of common stock, net of fees 0 139,034
Proceeds from issuance of preferred stock, net of fees 241,410 0
Repurchase of common stock for equity incentive plans (1,730) (824)
Proceeds from debt borrowings, net of fees 0 49,961
Other (400) 0
Net cash provided by financing activities 239,369 188,171
Net increase in cash and cash equivalents 13,152 55,926
Cash and cash equivalents at beginning of period 22,465 46,345
Cash and cash equivalents at end of period 35,617 102,271
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,512 3,314
Supplemental disclosure of non-cash investing and financing activities:    
Accrued financing costs 910 0
Conversion of preferred stock to common stock 115 0
Issuance of equity-classified warrants $ 0 $ 307