XML 16 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (29,056) $ (37,908)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,592 1,425
Stock-based compensation expense 4,563 5,381
Net (accretion) amortization of (discount) premium on marketable securities (960) 212
Non-cash lease expense 1,427 1,126
Other 19 (92)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 924 (2,916)
Other assets 62 (1,658)
Accounts payable 631 1,437
Accrued expenses and other liabilities (749) (1,188)
Lease liability and lease incentive receivable (865) 5,252
Net cash used in operating activities (22,412) (28,929)
Cash flows from investing activities:    
Purchases of marketable securities (20,232) (29,750)
Maturities of marketable securities 41,850 118,507
Purchases of property and equipment (85) (4,374)
Net cash provided by investing activities 21,533 84,383
Cash flows from financing activities:    
Proceeds from issuance of common stock pursuant to option exercises 0 3
Net cash provided by financing activities 0 3
Net (decrease) increase in cash and cash equivalents and restricted cash (879) 55,457
Cash and cash equivalents and restricted cash at beginning of period 70,934 36,698
Cash and cash equivalents and restricted cash at end of period 70,055 92,155
Cash and cash equivalents 67,552 89,652
Restricted cash 2,503 2,503
Cash and cash equivalents and restricted cash at end of period 70,055 92,155
Supplemental schedule of noncash investing and financing information    
Remeasurement of operating lease right-of-use assets 8,004 0
Fixed assets in accounts payable, accrued expenses and other current liabilities $ 17 $ 2,616