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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 $ (14,654) $ (6,526)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,128 1,833
Lease expense (43) (24)
Depreciation expense 80 78
Amortization of premium on marketable securities (583) (616)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (272) 371
Accounts payable 290 (991)
Accrued expenses 2,662 (1,682)
Other assets (19) 6
Net cash used in operating activities: (10,411) (7,551)
Cash flows from investing activities:    
Purchase of marketable securities (84,864)  
Maturities and sales of marketable securities 16,500 92,250
Net cash provided by (used in) investing activities (68,364) 92,250
Cash flows from financing activities:    
Proceeds from issuance of equity securities, net of issuance costs 162,151  
Net cash provided by financing activities 162,151  
Net increase in cash, cash equivalents and restricted cash 83,376 84,699
Cash, cash equivalents and restricted cash at beginning of period 28,088 28,164
Cash, cash equivalents and restricted cash at end of period 111,464 $ 112,863
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs included in accounts payable and accrued expense $ 395