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
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (33,431) $ (100,190)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 990 1,900
Impairment   373
Gain on disposal of property and equipment (125)  
Non-cash lease expense   73
Stock-based compensation expense 5,531 8,714
Change in fair value of warrant liabilities (51,663) 77
Net amortization of premiums and discounts on marketable securities (302) (1,314)
Amortization of debt-discount and accretion of deferred debt costs 420 424
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (202) 463
Unbilled receivable   29
Other long-term assets 226 3,235
Accounts payable (1,898) (3,556)
Accrued expenses and other current liabilities (207) 3,523
Deferred revenue   (4,191)
Operating lease right-of-use-asset and liabilities (793) (705)
Net cash used in operating activities (81,454) (91,145)
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 87,017
Net cash provided by investing activities 427 35,815
Financing activities    
Payments on financing lease obligations   (62)
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) 82
Net decrease in cash, cash equivalents and restricted cash (81,251) (55,248)
Cash, cash equivalents and restricted cash, Beginning of period 141,645 170,553
Cash, cash equivalents and restricted cash, End of period 60,394 115,305
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 4,052 $ 3,323