XML 22 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows Used in Operating Activities:    
Net loss $ (35,265) $ (35,948)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 69 77
Net accretion of discounts/premiums on debt securities (955) (1,729)
Stock-based compensation 4,003 5,737
Loss on investment in joint venture 1,172 780
Changes in operating assets and liabilities:    
Prepaid expenses, right-of-use assets and other assets 2,134 1,595
Accounts payable 242 (387)
Accrued expenses and operating lease liabilities 1,328 (2,274)
Deferred revenue 1,397 0
Net cash used in operating activities (25,875) (32,149)
Cash Flows Provided By (Used In) Investing Activities:    
Purchases of marketable securities (29,890) (61,603)
Proceeds from maturities of marketable securities 44,250 70,032
Investment in joint venture (1,500) (750)
Net cash provided by investing activities 12,860 7,679
Cash Flows Provided By (Used In) Financing Activities:    
Proceeds from the issuance of common stock from a securities purchase agreement 5,405 0
Proceeds from the issuance of common stock under the stock purchase plan 44 209
Payments of offering costs (257) (138)
Net cash provided by financing activities 5,192 71
Net decrease in cash and cash equivalents (7,823) (24,399)
Cash and cash equivalents — beginning of period 24,494 56,958
Cash and cash equivalents — end of period 16,671 32,559
Supplemental Disclosures of Noncash Financing Activities:    
Offering costs in accrued expenses $ 11 $ 0