v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (66,837) $ (38,599)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 98 45
Amortization of right-of-use assets 107 64
Foreign currency gain (loss) 166 (64)
Amortization of debt issuance costs 203 203
Accretion on premium to short-term investments (3,972) (3,345)
Stock-based compensation 6,824 2,817
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (3,357) 1,142
Non-current assets (814) (792)
Accounts payable and accrued expenses and other current liabilities 1,941 3,071
Net cash used in operating activities (65,807) (35,458)
Cash flows from investing activities:    
Purchase of property and equipment (34) (272)
Purchase of available-for-sale securities, net (172,852) (155,415)
Maturities of available-for-sale securities 115,050 92,000
Net cash used in investing activities (57,836) (63,687)
Cash flows from financing activities:    
Issuance of common stock and pre-funded warrants in registered direct offering, net of offering costs   74,874
Issuance of common stock in registered direct offering, net of offering costs 93,799  
Issuance of common stock upon at the market offerings, net 24,374  
Proceeds from exercise of stock options, net 299 194
Reimbursement of commissions from the prior issuance of common stock upon at the market sales, net 46  
Repurchase of shares for minimum tax withholdings (98) (183)
Net cash provided by financing activities 118,420 74,885
Effect of exchange rate changes on cash and cash equivalents 65 (150)
Decrease in cash and cash equivalents (5,158) (24,410)
Cash and cash equivalents beginning of period 26,585 52,100
Cash and cash equivalents end of period 21,427 27,690
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 1,619 $ 1,504