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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net loss $ (21,975) $ (23,355)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,416 3,504
Deferred income taxes (11) (14)
Stock-based compensation 3,590 2,652
Accretion of discount on short-term investments (631) (832)
Other (45) (338)
Changes in operating assets and liabilities:    
Receivables under development arrangements 2,147 247
Prepaid expenses and other current assets 520 1,153
Operating lease right-of-use assets and liabilities (225) (201)
Other long-term assets 4 60
Accounts payable 150 (482)
Accrued expenses and other liabilities (3,905) (2,427)
Deferred revenue (898) (86)
Net cash used in operating activities (17,863) (20,119)
Cash Flows From Investing Activities    
Purchases of property and equipment 0 (280)
Investment in short-term investments (97,330) (69,073)
Proceeds from maturities of short-term investments 20,500 42,000
Proceeds from sales of property and equipment 149 52
Net cash used in investing activities (76,681) (27,301)
Cash Flows From Financing Activities    
Principal payments on long-term debt (872) (662)
Principal payments on finance lease obligations (401) (671)
Proceeds from issuance of common stock, net of issuance costs 82,457 229
Net cash provided by (used in) financing activities 81,184 (1,104)
Net decrease in cash, cash equivalents, and restricted cash (13,360) (48,524)
Cash, cash equivalents and restricted cash - Beginning of year 89,667 76,842
Cash, cash equivalents, and restricted cash - End of period 76,307 28,318
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Property and equipment purchases included in accounts payable $ 0 $ 126