XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (43,263) $ (60,566)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,953 3,126
Stock-based compensation expense 8,111 9,032
Net accretion of discount on marketable securities (775) (1,675)
Non-cash lease expense 1,029 6,936
Other (9) (306)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 656 775
Deposit and other long-term assets and deferred rent receivable (6,894) 105
Accounts payable (111) (944)
Accrued expenses and other liabilities (2,639) (525)
Lease liability (1,147) (1,619)
Net cash used in operating activities (43,089) (45,661)
Cash flows from investing activities:    
Purchases of marketable securities (49,448) (20,232)
Maturities of marketable securities 25,200 108,909
Purchases of property and equipment (106) (121)
Net cash (used in) provided by investing activities (24,354) 88,556
Cash flows from financing activities:    
Proceeds from issuance of common stock and pre-funded warrants in private placements, net of issuance costs 119,361 0
Proceeds from issuance of common stock pursuant to option exercises 139 0
Payment of deferred offering costs 0 (238)
Proceeds from employee stock purchase plan 264 246
Net cash provided by financing activities 119,764 8
Net increase in cash and cash equivalents and restricted cash 52,321 42,903
Cash and cash equivalents and restricted cash at beginning of period 76,976 70,934
Cash and cash equivalents and restricted cash at end of period 129,297 113,837
Cash and cash equivalents 127,321 111,187
Restricted cash 1,976 2,650
Cash and cash equivalents and restricted cash at end of period 129,297 113,837
Supplemental schedule of noncash investing and financing information    
Deferred offering costs included in accounts payable and accrued expenses 0 107
Remeasurement of operating lease right-of-use assets 0 13,711
Property and equipment in accounts payable, accrued expenses and other current liabilities $ 221 $ 496