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:      
Net loss $ (20,640) $ (54,900) $ (69,048)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   3,737 4,302
Reduction in the carrying amount of right-of-use assets   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   0 (187)
Non-cash interest expense   611 0
Amortization of discount on short-term investments   (1,009) 0
Other non-cash items   11 (3)
Changes in operating assets and liabilities:      
Financial assets   2,818 21,580
Inventories   582 (276)
Prepaid expenses and other assets   1,417 (252)
Accounts payable   (1,339) (105)
Accrued compensation and other accrued liabilities   1,334 (7,269)
Other long-term liabilities   (3,064) (4,384)
Deferred revenue   (140) (11,273)
Net cash used in operating activities   (32,942) (41,601)
Investing activities:      
Purchase of property and equipment   (2,531) (4,798)
Proceeds from sale of property and equipment   84 27
Purchases of short-term investments   (72,643) 0
Proceeds from maturity of short-term investments   19,000 0
Proceeds from sale of short-term investments   1,973 0
Investment in non-marketable securities   0 (1,191)
Net cash used in investing activities   (54,117) (5,962)
Financing activities:      
Proceeds from exercises of stock options   281 422
Proceeds from issuance of stock under employee stock purchase plan   525 0
Proceeds from issuance of common stock in connection with equity sales agreements   31,320 8,652
Costs incurred in connection with equity sales agreements   (1,615) (503)
Proceeds from long-term debt   29,521 0
Payment of debt issuance costs   (642) 0
Taxes paid related to net share settlement of equity awards   0 (404)
Net cash provided by financing activities   59,390 8,167
Net decrease in cash, cash equivalents and restricted cash   (27,669) (39,396)
Cash, cash equivalents and restricted cash at the beginning of the period   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:      
Interest paid   1,633 28
Income taxes paid   17 193
Supplemental non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid   249 159
Cash reconciliation:      
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  
Cash, cash equivalents, and short-term investments $ 90,255 $ 90,255  

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