v3.24.1.u1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (46,955) $ (37,548)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 513 452
Stock-based compensation expense 9,666 11,923
Non-cash operating lease expense 681 609
Net amortization (accretion) on short-term investments and debt 1,091 (2,584)
Changes in operating assets and liabilities:    
Accounts receivable 0 (1,314)
Prepaid expenses and other current assets 3,749 (476)
Accounts payable 2,257 (144)
Accrued liabilities (910) (538)
Operating lease liabilities (363) (656)
Net cash used in operating activities (30,271) (30,276)
Cash flows from investing activities    
Purchase of short-term investments (52,375) (276,620)
Maturity of short-term investments 113,413 102,575
Purchase of property and equipment (1,492) (163)
Net cash used in (provided by) investing activities 59,546 (174,208)
Cash flows from financing activities    
Proceeds from issuances of common stock under benefit plans 1,879 3,661
Proceeds from term loan, net 19,909 0
Payment of offering costs 0 (586)
Proceeds from sale of common stock in a public offering 0 270,251
Net cash provided by financing activities 21,788 273,326
Net increase in cash and cash equivalents 51,063 68,842
Cash and cash equivalents and restricted cash at beginning of period 64,716 33,685
Cash, cash equivalents and restricted cash at end of period 115,779 102,527
Supplemental disclosures of cash flow information:    
Cash paid for interest 501 282
Reconciliation of cash, cash equivalents, and restricted cash reported in the balance sheets    
Cash and cash equivalents 114,297 102,527
Restricted cash 1,482 0
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows 115,779 102,527
Supplemental disclosures of noncash investing and financing activities:    
Net unrealized (loss) gain on short-term investments (834) 636
Purchase of property and equipment in accounts payable and accrued liabilities 1,059 0
Supplemental disclosures of cash flow information related to leases:    
Right-of-use assets obtained in exchange for new operating lease liabilities $ 23,698 $ 0