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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (53,743) $ (42,809)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and issuance costs 87 100
Depreciation expense 499 370
Loss on disposal of property and equipment 0 23
Stock-based compensation expense 1,428 1,238
Non-cash lease expense 544 776
Change in fair value of convertible notes 6,193 2,402
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (94) (1,209)
Other noncurrent assets (4,503) 195
Accounts payable 2,033 (1,241)
Operating lease liability (471) (409)
Accrued expenses and other current liabilities 199 3,758
Contingent liability 55,000 0
Deferred revenue (25,849) 25,849
Net cash used in operating activities (18,677) (10,957)
Cash flows from investing activities:    
Purchases of property and equipment (5) (2,485)
Proceeds from sale of property and equipment 0 19
Net cash used in investing activities (5) (2,466)
Cash flows from financing activities:    
Proceeds from borrowings under loan and security agreement, net 5,500 0
Payments on borrowings under loan and security agreement, net (5,200)  
Proceeds from exercise of common stock options 106 69
Proceeds from issuance of convertible debt 0 30,000
Net cash provided by financing activities 406 30,069
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (18,276) 16,646
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 49,540 32,894
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 31,264 49,540
Supplemental disclosure of non-cash operating, investing and financing activities:    
Interest payments on venture debt 422 229
Right-of-use asset obtained in exchange for new operating lease liability $ 0 $ 7,666