XML 20 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (23,754) $ (26,574)
Reconciliation of net loss to net cash used in operating activities:    
Stock-based compensation expense 2,551 2,326
Net gain on warrants inherited in acquisition of Quellis   1,542
Right-of-use asset - operating lease 287  
Other non-cash items (64) 79
Changes in assets and liabilities:    
Prepaid expenses and other assets (203) 224
Lease liability - operating lease (296) (31)
Accounts payable 41 (562)
Accrued expenses (2,511) 376
Net cash used in operating activities (23,949) (22,620)
Investing activities    
Purchases of short-term investments (302,923) (164,889)
Sales and maturities of short-term investments 440,000 130,992
Purchases of property and equipment (5) (2)
Net cash provided by (used in) investing activities 137,072 (33,899)
Financing activities    
Proceeds from exercise of stock options 310  
Net cash provided by financing activities 310  
Net increase (decrease) in cash, cash equivalents and restricted cash 113,433 (56,519)
Cash, cash equivalents and restricted cash, beginning of period 20,688 86,629
Cash, cash equivalents and restricted cash, end of period 134,121 $ 30,110
Supplemental disclosure of non-cash transactions:    
Conversion of Series X Preferred Stock into common stock $ 1,074