v3.25.1
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows used in operating activities:    
Net (loss) income $ (20,565) $ 8,588
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 395 1,143
Share-based compensation 2,822 2,906
Loss on disposal of assets 9 65
Non-cash interest expense 132 227
Amortization of right-of-use assets 310 284
(Gain) loss on changes in fair value (49) 348
Gain from equity method investment (1,342) (1,713)
Amortization of discount on note receivable (273) (114)
Loss (gain) on change in fair value of warrant liability 804 (10,386)
Changes in operating assets and liabilities:    
Prepaid expenses 1,850 (3,277)
Marketable securities 464  
Accounts receivable 225 511
Contract asset 1,469 (1,359)
Other assets and other current assets 259 (57)
Accounts payable (106) (2,102)
Other liabilities and other current liabilities (5,118) (5,837)
Deferred revenue (25) (7,945)
Lease liabilities (313) (263)
Net cash used in operating activities (19,052) (18,981)
Cash flows used in investing activities:    
Purchases of property, equipment and software (64) (86)
Purchases of intangible assets (250)  
Proceeds from sale of equipment   60
Net cash used in investing activities (314) (26)
Cash flows provided by financing activities:    
Proceeds from employee stock purchase plan 140 112
Proceeds from issuance of common stock and warrants through underwritten offering, net of issuance cost   37,534
Proceeds from issuance of common stock through ATM facility, net of issuance cost 9,516 1,544
Proceeds from issuance of common stock to collaboration partners and licensees 1,031 905
Net cash provided by financing activities 10,687 40,095
Net (decrease) increase in cash and cash equivalents (8,679) 21,088
Cash, cash equivalents, and restricted cash - beginning of period 108,468 116,678
Cash, cash equivalents, and restricted cash - end of period 99,789 137,766
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 77,223 137,766
Restricted cash 22,566  
Total of cash, cash equivalents and restricted cash 99,789 137,766
Supplemental disclosures of cash flow information:    
Property, equipment and software additions included in accounts payable and other current liabilities 1 6
Cash paid for interest $ 340 $ 526