XML 21 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net loss $ (25,651,000) $ (20,257,000) $ (76,298,000) $ (57,112,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation     2,457,000 1,450,000
Depreciation 273,000 181,000 817,000 533,000
Amortization of intangible assets 119,000 119,000 357,000 379,000
Changes in operating assets and liabilities:        
Prepaid and other current assets     2,377,000 2,790,000
Operating lease right-of-use assets and liabilities     (17,000) (6,000)
Accounts payable and accrued expenses     5,815,000 (3,592,000)
Accrued development expense     5,064,000 1,293,000
Accrued compensation and benefits     17,000 (1,717,000)
Other liabilities     (298,000) (212,000)
Net cash used in operating activities     (59,709,000) (56,194,000)
Cash flows from investing activities:        
Purchase of property and equipment     (373,000) (3,047,000)
Net cash used in investing activities     (373,000) (3,047,000)
Cash flows from financing activities:        
Proceeds from issuance of common stock upon exercise of stock options 464,000   1,417,000 466,000
Net cash provided by financing activities     1,417,000 466,000
Net decrease in cash and cash equivalents     (58,665,000) (58,775,000)
Cash and cash equivalents at beginning of period     201,015,000 233,437,000
Cash and cash equivalents at end of period $ 142,350,000 $ 174,662,000 $ 142,350,000 $ 174,662,000