v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Operating activities: 听 听 听
Net loss $ (20,640) $ (54,900) $ (69,048)
Adjustments to reconcile net loss to net cash used in operating activities: 听 听 听
Depreciation and amortization 听 3,737 4,302
Reduction in the carrying amount of right-of-use assets 听 2,364 3,647
Stock-based compensation 2,708 10,561 7,808
Asset impairment and other charges 0 165 9,984
Impairment of investment in non-marketable equity securities 3,900 3,910 3,875
Equity securities earned from research and development activities 听 0 (187)
Non-cash interest expense 听 611 0
Amortization of discount on short-term investments 听 (1,009) 0
Other non-cash items 听 11 (3)
Changes in operating assets and liabilities: 听 听 听
Financial assets 听 2,818 21,580
Inventories 听 582 (276)
Prepaid expenses and other assets 听 1,417 (252)
Accounts payable 听 (1,339) (105)
Accrued compensation and other accrued liabilities 听 1,334 (7,269)
Other long-term liabilities 听 (3,064) (4,384)
Deferred revenue 听 (140) (11,273)
Net cash used in operating activities 听 (32,942) (41,601)
Investing activities: 听 听 听
Purchase of property and equipment 听 (2,531) (4,798)
Proceeds from sale of property and equipment 听 84 27
Purchases of short-term investments 听 (72,643) 0
Proceeds from maturity of short-term investments 听 19,000 0
Proceeds from sale of short-term investments 听 1,973 0
Investment in non-marketable securities 听 0 (1,191)
Net cash used in investing activities 听 (54,117) (5,962)
Financing activities: 听 听 听
Proceeds from exercises of stock options 听 281 422
Proceeds from issuance of stock under employee stock purchase plan 听 525 0
Proceeds from issuance of common stock in connection with equity sales agreements 听 31,320 8,652
Costs incurred in connection with equity sales agreements 听 (1,615) (503)
Proceeds from long-term debt 听 29,521 0
Payment of debt issuance costs 听 (642) 0
Taxes paid related to net share settlement of equity awards 听 0 (404)
Net cash provided by financing activities 听 59,390 8,167
Net decrease in cash, cash equivalents and restricted cash 听 (27,669) (39,396)
Cash, cash equivalents and restricted cash at the beginning of the period 听 66,697 116,026
Cash, cash equivalents and restricted cash at the end of the period 39,028 39,028 76,630
Supplemental disclosure of cash flow information: 听 听 听
Interest paid 听 1,633 28
Income taxes paid 听 17 193
Supplemental non-cash investing and financing activities: 听 听 听
Capital expenditures incurred but not yet paid 听 249 159
Cash reconciliation: 听 听 听
Cash and cash equivalents 37,452 37,452 74,577
Restricted cash, current and non-current 1,576 1,576 2,053
Total cash, cash equivalents and restricted cash 39,028 39,028 $ 76,630
Short-term investments 52,803 52,803 听
Cash, cash equivalents, and short-term investments $ 90,255 $ 90,255 听

Source

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