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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows used in operating activities:    
Net (loss)/income $ (71,071) $ 5,157
Adjustments to reconcile net income/(loss) to net cash used in operating activities:    
Depreciation 1,854 1,111
Stock-based compensation 13,267 12,255
Amortization of capitalized debt issuance costs 75
Non-cash lease expense 814 829
Change in fair value of warrant liabilities (5,191) (84,000)
Change in accrued interest and net accretion of discounts on short-term investments (1,232)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,420 671
Accounts payable (473) 135
Accrued expenses (833) 1,711
Lease liabilities (838) 937
Other noncurrent assets (22) (92)
Net cash used in operating activities (62,305) (61,211)
Cash flows from investing activities:    
Purchases of property and equipment (1,670) (5,352)
Purchases of available-for-sale investments (75,704)
Proceeds from sales and maturities of available-for-sale investments 31,591
Net cash used in investing activities (45,783) (5,352)
Cash flows from financing activities:    
Repayment of equipment loans (16) (47)
Gross proceeds from issuance of common stock 47,045 10,000
Issuance costs related to issuance of common stock (2,823) (300)
Repayment of term loan (1,350)
Proceeds from short swing rule 200
Proceeds from exercise of stock options 296 842
Net cash provided by financing activities 44,702 9,145
Change in cash, cash equivalents and restricted cash (63,386) (57,418)
Cash, cash equivalents and restricted cash, beginning of year 117,144 174,562
Cash, cash equivalents and restricted cash, end of year 53,758 117,144
Reconciliation of restricted cash:    
Cash and cash equivalents 52,822 116,208
Restricted cash 936 936
Reconciliation of restricted cash total 53,758 117,144
Supplemental cash flow information:    
Interest paid 1 41
Non-cash investing and financing activities:    
Leasehold improvements acquired in connection with Waltham lease 1,200
Accruals for property, plant and equipment purchased during the period $ 95