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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (21,789) $ (22,373)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 207 188
Stock-based compensation expense 2,303 2,645
Accretion of discounts on short-term investments, net (283) (405)
Changes in operating assets and liabilities:    
Other assets 8 (3)
Accounts receivable and unbilled receivable (163) 610
Prepaid expenses and other current assets 696 2,260
Operating lease right-of-use assets 269 273
Accounts payable and accrued liabilities 2,088 1,293
Operating lease liabilities (306) (279)
Net cash used in operating activities (16,970) (15,791)
Investing activities:    
Capital expenditures (80) (259)
Maturities of short-term investments 12,505 68,265
Purchases of short-term investments (919) (50,868)
Sales of short-term investments 7,145 1,675
Net cash provided by investing activities 18,651 18,813
Financing activities:    
Proceeds from sales of common stock, net of expenses of $197 and $0, respectively 1,805 0
Proceeds from exercise of options 360 0
Net cash provided by financing activities 2,165 0
Net change in cash and cash equivalents 3,846 3,022
Cash and cash equivalents—Beginning of period 21,655 16,347
Cash and cash equivalents—End of period 25,501 19,369
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of property and equipment included in accounts payable and accrued expenses $ 0 $ 16