v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (29,586) $ (54,863)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 410 343
Stock-based compensation expense 6,837 4,806
Accretion of development financing liability 9,021 7,013
Net (accretion) amortization of investments in marketable securities (3,308) 32
Changes in assets and liabilities:    
Prepaid expenses and other current assets (6,958) 1,836
Other assets 1,055 (1,306)
Accounts payable 3,493 (1,674)
Deferred collaboration revenue 2,732 0
Accrued research and development expenses (1,692) (2,724)
Other accrued liabilities (1,010) (1,265)
Net cash used in operating activities (19,006) (47,802)
Investing activities    
Purchases of property and equipment (265) (124)
Purchases of marketable securities (160,208) (115,463)
Proceeds from maturities of marketable securities 100,550 65,795
Net cash used in investing activities (59,923) (49,792)
Financing activities    
Proceeds from issuance of common stock pursuant to equity award plans 1,760 0
Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs 92,360 (459)
Proceeds from development financing 0 25,000
Net cash provided by financing activities 94,120 24,541
Net increase (decrease) in cash and cash equivalents 15,191 (73,053)
Cash and cash equivalents at beginning of period 20,291 125,806
Cash and cash equivalents at end of period 35,482 52,753
Supplemental operating activities    
Cash paid for amounts included in the measurement of lease liabilities 353 342
Supplemental non-cash financing activities    
Unsettled stock option exercise proceeds $ 681 $ 0

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