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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (89,610) $ (106,346)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,613 1,610
Accretion of discount on available-for-sale securities (6,032) (2,290)
Stock-based compensation 14,211 13,816
Reduction in the carrying amount of right-of-use assets 959 823
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (32) 1,543
Other non-current assets (3,184)  
Accounts payable 1,247 (2,503)
Accrued and other current liabilities 585 (2,968)
Operating lease liabilities (1,748) (1,350)
Net cash used in operating activities (81,991) (97,665)
Investing activities:    
Purchases of property and equipment (9) (186)
Purchases of available-for-sale securities (411,900) (83,612)
Proceeds from maturities of available-for-sale securities 192,100 156,684
Net cash (used in) provided by investing activities (219,809) 72,886
Financing activities:    
Proceeds from the exercise of common stock options 918 111
Proceeds from Employee Stock Purchase Plan purchases 215 345
Proceeds from the issuance of common stock, including related party of zero and $17,995 for the nine months ended September 30, 2024 and 2023, respectively 39,737 17,995
Proceeds from the issuance of common stock and pre-funded warrants, net of commissions 117,500  
Payment of financing costs (2,131) (525)
Net cash provided by financing activities 156,239 17,926
Decrease in cash, cash equivalents and restricted cash (145,561) (6,853)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (9) (8)
Cash, cash equivalents and restricted cash    
Beginning of period 226,142 141,052
End of period 80,572 134,191
Supplemental disclosure of cash flow information:    
Cash paid for amounts included in the measurement of lease liability 3,649 3,525
Non-cash investing and financing activities:    
Deferred offering costs included in accounts payable and accrued liabilities 14  
Deferred offering costs included in other non-current assets $ 49  
Purchases of property and equipment included in accounts payable and accrued liabilities   $ 6