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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (31,672) $ (130,927) $ (122,116)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   3,653 5,644
Stock-based compensation expense   14,350 17,569
Net accretion of discount on marketable securities   (1,907) (1,935)
Non-cash lease expense 2,666 7,495 18,257
Non-cash sublease loss/(income) (1,567) 14,000 (89)
Loss on disposal of property and equipment   2 50
Other   (39) 225
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets   638 298
Deposit and other long-term assets   (68) 182
Accounts payable   (262) (369)
Accrued expenses and other liabilities (939) 3,021 (5,396)
Lease liability   (2,418) (3,222)
Net cash used in operating activities   (92,462) (90,902)
Cash flows from investing activities:      
Purchases of marketable securities   (101,901) (36,718)
Maturities of marketable securities   60,400 134,401
Purchases of property and equipment   (388) (808)
Net cash (used in) provided by investing activities   (41,889) 96,875
Cash flows from financing activities:      
Proceeds from issuance of common stock and pre-funded warrants in private placement, net of issuance costs   119,361 0
Payment of deferred offering costs   0 (420)
Proceeds from issuance of common stock pursuant to option exercises   146 1
Proceeds from employee stock purchase plan   496 488
Net cash provided by financing activities   120,003 69
Net (decrease) increase in cash, cash equivalents and restricted cash   (14,348) 6,042
Cash, cash equivalents and restricted cash at beginning of period 70,934 76,976 70,934
Cash, cash equivalents and restricted cash at end of period   62,628 76,976
Cash and cash equivalents 67,552 60,652 75,000
Restricted cash 2,503 1,976 1,976
Cash, cash equivalents and restricted cash at end of period   62,628 76,976
Supplemental schedule of noncash information      
Non-cash settlement of operating lease liability $ 14,900 0 14,903
Remeasurement of operating lease right-of-use assets and liabilities   0 7,632
Fixed assets in accounts payable and current liabilities   $ 201 $ 91