v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (49,594) $ (39,219)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 5,319 8,688
Non-cash lease expense 143 165
Foreign exchange remeasurement (gain) loss (637) 162
Impairment of property, plant and equipment 16,569 2,780
Impairment of right-of-use assets 0 187
Change in fair value of contingent consideration 0 196
Depreciation 510 1,968
Payments (91) 0
In-process research and development expenses 10,000 0
Accretion on invested securities (181) (2,411)
Non-cash interest expense 405 503
Change in fair value of derivative financial instrument 0 888
Loss on disposals of property and equipment 0 292
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 5,830 2,504
Other long-term assets (2,442) (901)
Accounts payable (139) 11
Operating lease liabilities (1,510) (634)
Accrued expenses and other current liabilities (3,168) (183)
Net cash used in operating activities (18,986) (25,004)
Cash flows from investing activities:    
Purchase of marketable securities (76,907) (91,081)
Maturities of marketable securities 85,700 111,700
Cash received from held for sale assets 418 541
Net cash provided by investing activities 9,211 21,160
Cash flows from financing activities:    
Proceeds from at-the-market offering, net of $0.3 million in issuance costs 6,611 0
Proceeds from exercise of stock options 475 0
Loan agreement closing costs (172) 0
Net cash provided by financing activities 6,914 0
Net decrease in cash, cash equivalents and restricted cash (2,861) (3,844)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 64 (71)
Cash, cash equivalents and restricted cash—beginning of period 10,635 10,696
Cash, cash equivalents and restricted cash—end of period 7,838 6,781
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 2,275 $ 3,482