Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (23,789) $ (25,146)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 638 681
Non-cash lease expense 66 66
Stock-based compensation expense 2,645 2,863
Change in fair value of warrant liabilities (8,865) (2,448)
Net amortization of premiums and discounts on marketable securities (527) 76
Amortization of debt-discount and accretion of deferred debt costs 135 185
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,318 203
Unbilled receivable (71) (203)
Other long-term assets 701 (338)
Accounts payable (3,616) (969)
Accrued expenses (4,217) (2,372)
Deferred revenue (1,085) (2,408)
Operating lease liabilities (234) (207)
Net cash used in operating activities (36,901) (30,017)
Investing activities    
Purchases of property and equipment (235) (128)
Purchases of marketable securities (48,500)  
Maturities of marketable securities 22,987 7,511
Net cash (used in) provided by investing activities (25,748) 7,383
Financing activities    
Payments on financing lease obligations (53) (70)
Proceeds from the issuance of common stock through exercise of option   1
Payment of issuance cost related to out of period offering   (24)
Net cash provided by financing activities (53) (93)
Net increase (decrease) in cash, cash equivalents and restricted cash (62,702) (22,727)
Cash and cash equivalents, Beginning of period 170,553 95,388
Cash and cash equivalents, End of period 107,851 72,661
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,053 783
Non-cash investing and financing activities:    
Property and equipment received but unpaid as of period end   165
Offering costs incurred but unpaid as of period end $ 10 $ 10