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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (32,486) $ (30,804)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 825 943
Non-cash lease expense 1,310 1,232
Stock-based compensation 1,933 3,081
Interest amortization on marketable securities (11) (797)
Loss on sale of property and equipment 1  
Changes in operating assets and liabilities:    
Operating lease liabilities (1,048) (921)
Prepaid expenses and other current assets (231) (710)
Accounts payable, accrued liabilities and other current liabilities (1,373) (2,482)
Other assets 14 (7)
Net cash used in operating activities (31,066) (30,465)
Cash flows from investing activities    
Purchases of marketable securities 0 (9,913)
Proceeds from maturities of marketable securities 1 54,000
Purchases of property and equipment (231) (114)
Net cash (used in) provided by investing activities (230) 43,973
Cash flows from financing activities    
Payment of issuance costs related to private placement (551) 0
Proceeds from the issuance of common stock from at-the-market sales agreement, net of issuance costs 0 278
Repurchases of shares for tax withholdings upon vesting of restricted stock unit awards (55) (182)
Net cash (used in) provided by financing activities (606) 96
Net (decrease) increase in cash, cash equivalents and restricted cash equivalents (31,902) 13,604
Cash, cash equivalents and restricted cash equivalents, beginning of period 84,362 33,773
Cash, cash equivalents and restricted cash equivalents, end of period 52,460 47,377
Supplemental disclosure of non-cash activities    
Purchases of property and equipment in accounts payable and accrued liabilities 0 14
Financing costs associated with the sale of common stock included in accounts payable and accrued expenses $ 0 $ 92