Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (9,207) $ (15,439)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Depreciation and amortization 1,363 1,428
Right-of-use asset (accretion) amortization (67) (5)
Stock-based compensation 1,932 2,479
Realized investment (losses) gains (53) 40
Other non-cash transactions (110) 214
Changes in operating assets and liabilities (18,285) (26,938)
Net cash provided by (used in) operating activities (24,427) (38,221)
Investing activities:    
Purchases of property and equipment (115) (1,018)
Proceeds from maturity of investments 18,895 4,850
Purchases of investments (8,243) (31,645)
Net cash (used in) investing activities 10,537 (27,813)
Financing activities:    
Proceeds from exercise of stock options 0 95
Proceeds from employee stock purchase plan 52 104
Proceeds from issuance of common stock resulting from ATM sales, net of $0.7 million in transaction costs 19,729 6,640
Net cash provided by financing activities 19,781 6,839
Effect of exchange rate change on cash and cash equivalents 412 (4,312)
Net increase (decrease) in cash and cash equivalents 6,303 (63,507)
Cash and cash equivalents at beginning of period 38,635 117,764
Cash and cash equivalents at end of period 44,938 54,257
Supplemental cash flow disclosures:    
Net unrealized gain on investments 72 152
Property and equipment included in accounts payable $ 74 $ 15