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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (35,709) $ (53,204)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 7,601 9,409
Depreciation 1,105 898
Accretion of discounts on marketable securities (4,239) (3,511)
Non-cash lease income (291) (283)
Loss on sale of equipment 1  
Other, net (52)  
Change in operating assets and liabilities:    
Prepaid expenses and other assets (2,427) 2,707
Operating lease right-of-use assets and liabilities 247  
Accounts payable (1,174) (1,318)
Accrued expenses 317 1,730
Net cash used in operating activities (34,621) (43,572)
Cash flows from investing activities:    
Purchases of property and equipment (599) (765)
Purchases of marketable securities (110,773) (187,147)
Proceeds from sale of equipment 29  
Maturities of marketable securities 156,951 139,955
Net cash provided (used) by investing activities 45,608 (47,957)
Cash flows from financing activities:    
Issuance of common stock, net of issuance costs   35,121
Proceeds from the exercise of stock options and common stock issued under the 2020 EIP 141 168
Net cash provided by financing activities 141 35,289
Impact of exchange rates on cash, cash equivalents, and restricted cash (24)  
Net increase (decrease) in cash and cash equivalents 11,104 (56,240)
Cash, cash equivalents, and restricted cash    
Cash, cash equivalents, and restricted cash - beginning of period 38,528 109,119
Cash, cash equivalents, and restricted cash - end of period $ 49,632 $ 52,879