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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (26,938) $ (33,771)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 133 187
Non-cash lease expense 942 978
Stock-based compensation expense 3,223 4,647
Non-cash activity related to the sale of future royalties 44 (236)
Amortization of premiums and discounts on investments 0 (444)
Changes in operating assets and liabilities:    
Accounts receivable 106 (184)
Prepaid expenses and other assets 1,497 (270)
Accounts payable and accrued liabilities 1,149 (293)
Operating lease liability (986) (917)
Total adjustments 6,108 3,468
Net cash used in operating activities (20,830) (30,303)
Cash flows from investing activities:    
Purchase of investments 0 (18,098)
Sales and maturities of investments 0 47,968
Net cash provided by investing activities 0 29,870
Cash flows from financing activities:    
Proceeds from issuance of common stock, pre-funded warrants, and common warrants, net of issuance costs 15,471 987
Payment of liability of future royalties, net of imputed interest (5,587) (6,381)
Net cash provided by (used in) financing activities 9,884 (5,394)
Net decrease in cash and cash equivalents and restricted cash (10,946) (5,827)
Cash and cash equivalents and restricted cash, beginning of period 20,541 27,225
Cash and cash equivalents and restricted cash, end of period 9,595 21,398
Supplemental cash flow data:    
Issuance costs in accrued expenses and accounts payable 449 40
Cash paid for interest 1,531 0
Increase in right-of-use assets and operating lease liabilities 0 1,383
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 9,051 20,854
Restricted cash, long-term 544 544
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 9,595 $ 21,398