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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (47,019) $ (27,147)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 683 997
Stock-based compensation expense 2,778 4,166
Net accretion of discount on marketable securities (436) (333)
Non-cash lease expense 27 545
Non-cash sublease loss 982 1,046
Other (1) (19)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (777) 480
Deposit and other long-term assets (143) 35
Accounts payable 218 (347)
Accrued expenses and other liabilities 426 (3,391)
Lease liability 491 723
Net cash used in operating activities (42,771) (23,245)
Cash flows from investing activities:    
Purchases of marketable securities 0 (26,937)
Maturities of marketable securities 31,500 5,000
Purchases of property and equipment (220) (90)
Net cash provided by (used in) investing activities 31,280 (22,027)
Cash flows from financing activities:    
Proceeds from issuance of common stock and pre-funded warrants in private placements, net of issuance costs 0 119,741
Proceeds from issuance of common stock pursuant to option exercises 0 139
Net cash provided by financing activities 0 119,880
Net (decrease) increase in cash and cash equivalents and restricted cash (11,491) 74,608
Cash and cash equivalents and restricted cash at beginning of period 62,628 76,976
Cash and cash equivalents and restricted cash at end of period 51,137 151,584
Cash and cash equivalents 49,161 149,608
Restricted cash 1,976 1,976
Cash and cash equivalents and restricted cash at end of period 51,137 151,584
Supplemental schedule of noncash investing and financing information    
Issuance costs included in accounts payable $ 0 $ 380