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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (31,334) $ (37,330)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 473 328
Amortization of premiums and discounts on marketable securities (1,132) 69
Stock-based compensation 3,879 3,855
Non-cash operating lease expense 681 628
Loss on disposal of property and equipment 5 173
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 339 (2,036)
Accounts payable (321) 952
Accrued expenses and other current liabilities (2,011) (693)
Lease liability (701) (623)
Deferred revenue (7,316) (3,765)
Deposits and other assets (489) (793)
Net cash flows used in operating activities (37,927) (39,235)
Cash flows from investing activities    
Purchases of property and equipment (152) (69)
Sale of property and equipment 4  
Purchase of marketable securities (47,050) (174,996)
Sales and maturities of marketable securities 59,072 29,500
Net cash flows provided by (used in) investing activities 11,874 (145,565)
Cash flows from financing activities    
Proceeds from issuance of common stock for underwritten registered offering, net of offering costs 37,544  
Repurchase of common stock (663)  
Proceeds from exercise of stock options 121 1,070
Net cash flows provided by financing activities 37,002 1,070
Net increase (decrease) in cash and cash equivalents and restricted cash 10,949 (183,730)
Cash, cash equivalents and restricted cash, beginning of period 60,791 233,089
Cash, cash equivalents and restricted cash, end of period 71,740 49,359
Cash and cash equivalents 70,868 48,487
Restricted cash included in other assets 872 872
Cash, cash equivalents and restricted cash, end of period 71,740 49,359
Noncash investing and financing activities    
Purchases of property and equipment in accounts payable and accrued expenses   $ 943
Underwritten registered offering costs in accrued expenses $ 123