v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flow from operating activities    
Net loss $ (191,698) $ (134,345)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 17,397 14,453
Depreciation 4,428 4,598
Loss on disposal of fixed assets 139 1,583
Net amortization of premiums and discounts on marketable securities (4,922) (2,720)
Other non-cash items (415) 0
Changes in operating assets and liabilities:    
Accounts receivable 10,061 2,723
Prepaid expenses and other current assets 1,607 771
Right-of-use assets (2,048) 11,712
Other non-current assets 3,306 (502)
Accounts payable 4,713 1,102
Accrued expenses (5,523) 22
Operating lease liabilities 1,952 (9,335)
Other non-current liabilities 1,481 0
Net cash used in operating activities (159,522) (109,938)
Cash flow from investing activities    
Purchases of property and equipment (8,286) (3,412)
Purchases of marketable securities (86,221) (219,764)
Proceeds from maturities of marketable securities 225,695 156,605
Net cash provided by (used in) investing activities 131,188 (66,571)
Cash flow from financing activities    
Proceeds from offering of common stock, net of issuance costs 0 117,079
Proceeds from exercise of stock options 192 11
Proceeds from issuance of common stock under employee stock purchase plan 322 435
Net cash provided by financing activities 514 117,525
Net decrease in cash, cash equivalents, and restricted cash (27,820) (58,984)
Cash, cash equivalents, and restricted cash, beginning of period 127,529 145,399
Cash, cash equivalents, and restricted cash, end of period 99,709 86,415
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents, end of period 95,832 82,537
Restricted cash 3,877 3,878
Cash, cash equivalents, and restricted cash, end of period 99,709 86,415
Supplemental disclosure of cash and non-cash activities:    
Fixed asset additions included in accounts payable and accrued expenses 134 199
Cash paid in connection with operating lease liabilities 12,565 9,103
Remeasurement of operating lease liabilities and right-of-use assets due to lease modification 794 1,069
Commencement of right-of-use asset 7,844 0
Modification of right-of-use asset $ 1,954 $ 0