XML 14 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:            
Net loss     $ (21,968) $ (82,456)    
Adjustments to reconcile net loss to net cash used in operating activities:            
Stock-based compensation     1,773 4,777    
Depreciation expense $ 100   359 320    
Impairment of property and equipment 0 $ 0 0 1,883 $ 1,900 $ 1,600
Write-off of deferred financing costs       140    
Impairment of right-of-use assets 0 0 0 22,836 22,800  
Gain on sale of property and equipment     (8)      
Net amortization of premium on short-term investments       (2,009)    
Changes in operating assets and liabilities:            
Prepaid expenses and other current assets     1,484 (750)    
Operating lease right-of-use assets     2,349 570    
Other assets       1,111    
Accounts payable     (619) (774)    
Accrued expenses and other current liabilities     (1,483) (5,400)    
Restructuring liability     (1,288) 4,855    
Operating lease liabilities     (3,001) (2,437)    
Deferred revenue     (391) (1,325)    
Net cash used in operating activities     (22,793) (58,659)    
Cash flows from investing activities:            
Purchases of property and equipment     (20) (2,396)    
Proceeds from the sale of property and equipment     18      
Purchases of short-term investments       (47,949)    
Maturity of short-term investments       102,519    
Net cash (used in) provided by investing activities     (2) 52,174    
Cash flows from financing activities:            
Proceeds from sale of common stock, warrants and pre-funded warrants     4,999 8,819    
Payment of deferred offering costs     (726) (290)    
Proceeds from exercise of stock options       3    
Net cash provided by financing activities     4,273 8,532    
Net (decrease) increase in cash, cash equivalents and restricted cash     (18,522) 2,047    
Cash, cash equivalents and restricted cash, beginning of period     42,570 23,745 23,745  
Cash, cash equivalents and restricted cash, end of period $ 24,048 $ 25,792 24,048 25,792 $ 42,570 $ 23,745
Supplemental disclosure of non-cash financing and investing activities:            
Property and equipment purchases included in accounts payable     $ 67      
Right of Use Asset in Exchange for Lease Liability       $ 13,667