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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (67,171) $ (42,052)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 665 571
Amortization of premiums and discounts on marketable securities 0 (79)
Non-cash lease expense 1,766 1,278
Loss on disposal of property and equipment 2 0
Stock-based compensation expense 4,717 8,380
Non-cash interest expense 0 455
Warrant liabilities revaluation (2,803) (6,049)
Contingent value right liability revaluation 51,900 0
Forward contract liabilities revaluation 6,890 0
Loss on extinguishment of debt 0 740
Changes in operating assets and liabilities:    
Accounts receivable 1,041 1,698
Unbilled receivable 2,001 1,287
Prepaid expenses, deposits and other assets 763 (30)
Accounts payable (2,690) 36
Deferred revenue (5,849) 7,528
Accrued expenses and other liabilities (7,904) (1,638)
Net cash used in operating activities (16,672) (27,875)
Cash flows from investing activities    
Proceeds from maturities of marketable securities 0 28,254
Purchases of property and equipment (8,388) (142)
Net cash (used in) provided by investing activities (8,388) 28,112
Cash flows from financing activities    
Repayments of principal, final payment fee, and prepayment penalty on debt 0 (27,457)
Proceeds from exercise of common warrants 2,877 0
Proceeds from issuance of Series A Preferred Stock, gross in private placement 40,000 0
Net proceeds from issuance of common stock and Series B Preferred Stock in private placement 124,438 0
Proceeds from exercise of stock options 330 0
Proceeds from issuance of common stock under Employee Stock Purchase Plan 0 231
Net cash provided by (used in) financing activities 167,645 (27,226)
Effect of exchange rate changes on cash (6) (69)
Net change in cash, cash equivalents, and restricted cash 142,579 (27,058)
Cash, cash equivalents, and restricted cash at beginning of period 78,288 108,038
Cash, cash equivalents, and restricted cash at end of period 220,867 80,980
Supplemental cash flow information    
Cash paid for interest 0 1,853
Noncash investing and financing activities    
Issuance of common stock, license agreement in stock-based compensation expense 0 1,500
Purchase of property and equipment not yet paid $ 392 $ 65