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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (27,035) $ (60,047)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 665 1,288
Gain on disposal of property and equipment (125)  
Non-cash lease expense   69
Stock-based compensation expense 3,906 5,459
Change in fair value of warrant liabilities (31,360) (5,760)
Net amortization of premiums and discounts on marketable securities (302) (1,165)
Amortization of debt-discount and accretion of deferred debt costs 273 281
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (503) 502
Unbilled receivable   (62)
Other long-term assets 132 3,119
Accounts payable (4,075) 282
Accrued expenses (1,812) (638)
Deferred revenue   (2,145)
Operating lease right-of-use-asset and liabilities (529) (470)
Net cash used in operating activities (60,765) (59,287)
Investing activities    
Purchases of property and equipment   (234)
Proceeds from the disposition of asset-held-for-sale 125  
Purchases of marketable securities (30,591) (50,968)
Proceeds from the sale or maturities of marketable securities 30,893 58,377
Net cash provided by investing activities 427 7,175
Financing activities    
Payments on financing lease obligations   (57)
Proceeds from the issuance of common stock through Employee Stock Purchase Plan 115 144
Payment of issuance cost related to underwritten registered direct offering and at-the-market facility (339)  
Net cash (used in) provided by financing activities (224) 87
Net decrease in cash, cash equivalents and restricted cash (60,562) (52,025)
Cash, cash equivalents and restricted cash, Beginning of period 141,645 170,553
Cash, cash equivalents and restricted cash, End of period 81,083 118,528
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 2,632 $ 2,173