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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (70,397) $ (93,451)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,843 4,635
Stock-based compensation expense 11,075 13,421
Net accretion of discount on marketable securities (1,293) (1,835)
Non-cash lease expense 1,571 12,466
Loss on disposal of property and equipment 2 85
Other 7 (257)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,592) (923)
Deposit and other long-term assets and deferred rent receivable (7,178) 143
Accounts payable 187 (62)
Accrued expenses and other liabilities 2,335 (1,452)
Lease liability (1,773) (2,344)
Net cash used in operating activities (64,213) (69,574)
Cash flows from investing activities:    
Purchases of marketable securities (82,773) (20,232)
Maturities of marketable securities 45,400 127,601
Purchases of property and equipment (327) (616)
Net cash (used in) provided by investing activities (37,700) 106,753
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 1
Payment of deferred offering costs 0 (344)
Proceeds from employee stock purchase plan 264 246
Net cash provided by (used in) financing activities 119,764 (97)
Net increase in cash and cash equivalents and restricted cash 17,851 37,082
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 94,827 108,016
Cash and cash equivalents 92,851 105,366
Restricted cash 1,976 2,650
Cash and cash equivalents and restricted cash at end of period 94,827 108,016
Supplemental schedule of noncash investing and financing information    
Non-cash settlement of operating lease liability 0 14,903
Remeasurement of operating lease right-of-use assets 0 13,711
Deferred offering costs included in accounts payable and accrued expenses 0 58
Property and equipment in accounts payable, accrued expenses and other current liabilities $ 60 $ 0