Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities:    
Net loss $ (24,543) $ (33,277)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization (accretion) 1,904 2,770
Right-of-use asset (accretion) amortization (123) 10
Stock-based compensation 3,349 4,402
Asset impairment 13,912 0
Realized investment gains (53) (376)
Other non-cash transactions (124) (91)
Accounts receivable 5,307 (2,624)
Prepaid expenses and other assets 1,018 (1,358)
Deferred revenue (39,967) (20,185)
Account payable (789) (4,208)
Accrued expenses and other liabilities (2,336) (4,005)
Lease liability, prior to operating lease termination (868) (990)
Change in lease liability due to termination of operating lease (10,506) 0
Net cash used in operating activities (53,819) (59,932)
Investing activities:    
Purchases of property and equipment (171) (1,041)
Proceeds from maturity of investments 35,008 28,200
Purchases of investments (22,835) (48,395)
Net cash provided by (used in) investing activities 12,002 (21,236)
Financing activities:    
Proceeds from exercise of stock options 0 95
Proceeds from employee stock purchase plan 66 197
Proceeds from issuance of common stock resulting from ATM sales, net of $0.7 million and $0.3 million in transaction costs, respectively 19,729 6,922
Net cash provided by financing activities 19,795 7,214
Effect of exchange rate change on cash and cash equivalents 783 (5,175)
Net decrease in cash and cash equivalents (21,239) (79,129)
Cash and cash equivalents at beginning of period 38,635 117,764
Cash and cash equivalents at end of period 17,396 38,635
Supplemental cash flow disclosures:    
Net unrealized gain (loss) on investments 74 (73)
Property and equipment included in accounts payable $ 0 $ 193