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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net loss $ (13,434) $ (10,011)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 93 102
Stock-based compensation expense 1,365 1,124
Amortization of right-of-use assets 135 134
Accretion of discounts on short-term investments, net (137) (156)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivable 368 (105)
Prepaid expenses and other current assets 216 (95)
Other assets (188) 4
Accounts payable and accrued liabilities (1,045) 1,415
Operating lease liabilities (167) (152)
Net cash used in operating activities (12,794) (7,740)
Investing activities:    
Capital expenditures   (80)
Maturities of short-term investments 21,228 5,635
Purchases of short-term investments (35,812) (919)
Net cash provided by (used in) investing activities (14,584) 4,636
Financing activities:    
Proceeds from exercise of options 3 107
Net cash provided by financing activities 3 107
Net change in cash and cash equivalents (27,375) (2,997)
Cash and cash equivalents—Beginning of period 51,470 21,655
Cash and cash equivalents—End of period 24,095 $ 18,658
Supplemental disclosure of non-cash investing activities:    
Purchases of unsettled short-term investments included in accrued liabilities $ 902