v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net Income (Loss) $ (39,876) $ (37,914)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation 622 625
Noncash operating lease expense 1,012 925
Stock-based compensation 7,255 6,719
Accretion on marketable securities (638) (1,371)
Other, net (56) (10)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 649 360
Other long-term assets 1 35
Accounts payable 1,630 1,042
Accrued expenses and other liabilities (6,124) (1,609)
Operating lease liabilities (780) (188)
Deferred revenue (5,392) (6,471)
Net cash used in operating activities (41,697) (37,857)
Cash flows from investing activities    
Purchase of property and equipment (51) (195)
Sales and maturities of marketable securities 77,812 109,255
Purchases of marketable securities (47,164) (120,263)
Net cash provided by (used in) investing activities 30,597 (11,203)
Cash flows from financing activities    
Proceeds from issuance of common stock and pre-funded warrants   41,723
Proceeds from issuance of common stock upon exercise of stock options and purchase of shares under ESPP 2 1,259
Net cash provided by financing activities 2 42,982
Net change in cash, cash equivalents and restricted cash (11,098) (6,078)
Cash, cash equivalents and restricted cash, beginning of period 72,097 69,808
Cash, cash equivalents and restricted cash, end of period 60,999 63,730
Supplemental cash flow information:    
Cash paid for leases 1,935 1,351
Supplemental disclosure of noncash investing and financing activity:    
Purchases of property and equipment included in accounts payable and accrued expenses 8 71
Operating lease liabilities from obtaining right-of-use assets 1,308  
Revaluation of right-of-use asset and lease liability upon lease remeasurement $ 75 $ 497