XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (53,204) $ (53,972)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 9,409 7,143
Depreciation 898 240
(Accretion) of premiums on marketable securities (3,511) (102)
Non-cash lease (income) expense (283) 250
Other, net   (86)
Change in operating assets and liabilities:    
Prepaid expenses and other assets 2,707 (2,196)
Operating lease right-of-use assets and liabilities   1,611
Accounts payable (1,318) 867
Accrued expenses 1,730 (2,191)
Net cash used in operating activities (43,572) (48,436)
Cash flows from investing activities:    
Purchases of property and equipment (765) (6,346)
Purchases of marketable securities (187,147) (194,512)
Maturities of marketable securities 139,955 176,267
Net cash used in investing activities (47,957) (24,591)
Cash flows from financing activities:    
Issuance of common stock, net of issuance costs 35,121  
Proceeds from the exercise of stock options 168 410
Net cash provided by financing activities 35,289 410
Net (decrease) increase in cash, cash equivalents and restricted cash (56,240) (72,617)
Cash, cash equivalents, and restricted cash    
Cash, cash equivalents, and restricted cash - beginning of period 109,119 173,289
Cash, cash equivalents, and restricted cash - end of period $ 52,879 100,672
Supplemental disclosures of noncash investing activities    
Accrued purchases of property and equipment   $ 770