XML 33 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (36,949) $ (35,355)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,615 6,619
Lease expense (82) (46)
Depreciation expense 311 318
Amortization of discount on marketable securities (1,843) (774)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,065) (204)
Accounts payable (403) 26
Accrued expenses (1,022) 1,816
Other assets (21) 31
Net cash used in operating activities: (33,459) (27,569)
Cash flows from investing activities:    
Purchase of property and equipment (164) (100)
Purchase of marketable securities (101,233) (133,610)
Maturities and sales of marketable securities 134,750 42,750
Net cash provided by (used in) investing activities 33,353 (90,960)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs   75,257
Proceeds from exercise of stock options and warrants 30  
Net cash provided by financing activities 30 75,257
Net decrease in cash, cash equivalents and restricted cash (76) (43,272)
Cash, cash equivalents and restricted cash at beginning of period 28,164 71,436
Cash, cash equivalents and restricted cash at end of period 28,088 $ 28,164
Supplemental disclosure of non-cash investing and financing activities:    
Leased assets obtained in exchange for new operating lease liabilities 790  
Proceeds from exercise of stock options included in other current assets $ 9