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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (22,930) $ (40,471)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,081 984
Stock-based compensation 2,908 8,351
Amortization of premiums and accretion of discounts on marketable securities (667) (2,027)
Amortization of right-of-use assets 1,003 864
Amortization of debt discount and debt issuance costs 78 69
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,859 (679)
Other assets 17 26
Accounts payable (268) 111
Accrued liabilities and accrued clinical supply costs (11,023) (12,722)
Payable to collaboration partner (7,060) 3,131
Deferred revenue (1,046) (3,674)
Refund liability to collaboration partner (12,035) (13,339)
Lease liabilities (1,763) (1,567)
Other long-term liabilities 33 160
Net cash used in operating activities (49,813) (60,783)
Cash flows from investing activities:    
Purchase of property and equipment (118) (20)
Purchase of marketable securities (51,805) (55,794)
Maturities of marketable securities 112,871 121,549
Net cash provided by investing activities 60,948 65,735
Cash flows from financing activities:    
Proceeds from the exercise of options to purchase common stock 25 0
Net cash provided by financing activities 25 0
Net increase in cash, cash equivalents, and restricted cash 11,160 4,952
Cash, cash equivalents, and restricted cash at beginning of period 67,648 34,867
Cash, cash equivalents, and restricted cash at end of period 78,808 39,819
Supplemental Disclosures:    
Property and equipment purchases included in accounts payable and accrued liabilities 30 0
Cash paid for interest $ 201 $ 214