XML 31 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (97,217,000) $ (76,246,000) $ (32,385,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 4,586,000 2,066,000 1,759,000
Depreciation 1,084,000 804,000 310,000
Amortization of intangible assets 446,000 497,000 224,000
Changes in operating assets and liabilities:      
Prepaid and other assets 1,714,000 1,189,000 (10,956,000)
Operating lease right-of-use assets and liabilities (17,000) (9,000) 28,000
Accounts payable and other accrued expenses 6,896,000 (3,449,000) 6,215,000
Accrued development expense 757,000 (523,000) 2,084,000
Accrued compensation and benefits 30,000 (1,707,000) 1,794,000
Other liabilities (304,000) (136,000) 731,000
Net cash used in operating activities (82,025,000) (77,514,000) (30,196,000)
Cash flows from investing activities:      
Purchase of property and equipment (414,000) (2,712,000) (22,214,000)
Net cash used in investing activities (414,000) (2,712,000) (22,214,000)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon exercise of stock options 2,560,000 475,000 1,824,000
Proceeds from issuance of common stock upon exercise of 2018 warrants 0 0 692,000
Proceeds from common stock offering, net of issuance costs 0 47,329,000 189,825,000
Net cash provided by financing activities 2,560,000 47,804,000 192,341,000
Net (decrease) increase in cash and cash equivalents (79,879,000) (32,422,000) 139,931,000
Cash and cash equivalents at beginning of period 201,015,000 233,437,000 93,506,000
Cash and cash equivalents at end of period 121,136,000 201,015,000 233,437,000
Non-cash investing activities      
Purchases of property and equipment included in accounts payable $ 0 $ 340,000 $ 0