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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (33,644) $ (32,104)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 308 295
Stock-based compensation expense 3,556 3,600
Accretion of discounts on short-term investments, net (440) (716)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivable (330) 573
Prepaid expenses and other current assets 1,084 3,188
Operating lease right-of-use assets 404 408
Other assets 12  
Accounts payable and accrued liabilities 2,087 1,428
Operating lease liabilities (463) (420)
Net cash used in operating activities (27,426) (23,748)
Investing activities:    
Capital expenditures (80) (574)
Maturities of short-term investments 22,595 80,534
Purchases of short-term investments (23,563) (67,491)
Sales of short-term investments 10,265 10,165
Net cash provided by investing activities 9,217 22,634
Financing activities:    
Proceeds from sales of common stock, net of expenses of $680 and $0, respectively 9,232  
Proceeds from exercise of options 360  
Net cash provided by financing activities 9,592  
Net change in cash and cash equivalents (8,617) (1,114)
Cash and cash equivalents—Beginning of period 21,655 16,347
Cash and cash equivalents—End of period $ 13,038 $ 15,233