Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (10,507) $ (49,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,665 7,704
Depreciation and amortization 500 503
Non-cash operating lease expense 5,836 5,181
Net amortization and accretion of discount on short-term investments and term loan (171) (917)
Changes in assets and liabilities:    
Accounts receivable, net (4,520) (7,475)
Inventories (235) (195)
Prepaid and other current assets (893) (2,000)
Other assets (124) 40
Accounts payable (1,869) (3,730)
Accrued compensation (646) (2,886)
Accrued research and development (2,664) (1,132)
Other accrued liabilities 1,731 3,207
Lease liability (5,239) (4,793)
Deferred revenue (23,477) 24,326
Net cash used in operating activities (36,613) (31,861)
Investing activities    
Purchases of short-term investments (63,671) (100,501)
Maturities of short-term investments 103,184 85,306
Capital expenditures (758) (844)
Net cash provided by (used in) investing activities 38,755 (16,039)
Financing activities    
Net proceeds from term loan financing 9,975 9,789
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 1,929 882
Net cash provided by financing activities 11,904 10,671
Net increase (decrease) in cash and cash equivalents 14,046 (37,229)
Cash and cash equivalents at beginning of period 22,521 76,322
Cash and cash equivalents at end of period 36,567 $ 39,093
Supplemental disclosure of cash flow information    
Interest paid $ 814