XML 34 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (30,773) $ (30,452)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 826 562
Stock-based compensation 5,958 4,677
Amortization (accretion) of premium (discount) on securities, net (1,412) (147)
Amortization of operating lease right-of-use assets 1,806 1,073
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (787) (503)
Accounts payable (199) (643)
Accrued expenses and other liabilities (117) (11)
Operating lease liabilities (1,375) (420)
Net cash used in operating activities (26,073) (25,864)
Cash flows from investing activities    
Proceeds from maturities of securities 32,249 105,575
Purchases of securities (46,844) (54,185)
Purchases of property and equipment (1,155) (1,132)
Net cash (used in) provided by investing activities (15,750) 50,258
Cash flows from financing activities    
Proceeds from exercise of stock options 7 188
Proceeds from issuance of common stock under employee stock purchase plan 92 153
Net cash provided by financing activities 99 341
Net (decrease) increase in cash, cash equivalents and restricted cash (41,724) 24,735
Cash, cash equivalents and restricted cash at beginning of period 115,477 186,461
Cash, cash equivalents and restricted cash at end of period 73,753 211,196
Supplementary cash flow information on non-cash activities    
Right-of-use asset obtained in exchange for operating lease liability 7,623 0
Acquisitions of property and equipment included in accounts payable $ 323 $ 413