Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net loss $ (17,914) $ (29,744) $ (66,894)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Stock-based compensation expense 9,486 7,297 9,115
Depreciation and amortization 1,162 706 683
Noncash interest expense 3,139    
Net amortization and accretion of discount on short-term investments and term loan 287 (122) (1,073)
Changes in assets and liabilities:      
Accounts receivable, net 501 (5,862) (6,034)
Inventories (4,875) (126) (366)
Prepaid and other current assets 6,633 (4,583) (5,673)
Other assets (150) (128) 39
Right-of-use assets 8,192 7,814 7,118
Accounts payable 41 (331) (2,239)
Accrued compensation 1,098 773 (1,133)
Accrued research and development 5,495 (1,071) (803)
Other accrued liabilities 1,826 4,051 3,122
Lease liability (8,621) (7,230) (6,725)
Deferred revenue (422) (23,629) 24,255
Other long-term liabilities     5,098
Net cash provided by (used in) operating activities 5,878 (52,185) (41,510)
Investing activities      
Purchases of short-term investments (141,459) (81,706) (145,327)
Maturities of short-term investments 62,050 130,434 123,126
Capital expenditures (627) (1,262) (1,455)
Net cash (used in) provided by investing activities (80,036) 47,466 (23,656)
Financing activities      
Cost share advance from collaboration partner 57,900    
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 4,775 2,596 1,576
Net proceeds from term loan financing   9,975 9,789
Net cash provided by financing activities 62,675 12,571 11,365
Net increase (decrease) in cash and cash equivalents (11,483) 7,852 (53,801)
Cash and cash equivalents at beginning of period 30,373 22,521 76,322
Cash and cash equivalents at end of period 18,890 30,373 22,521
Supplemental disclosure of cash flow information      
Interest paid $ 1,500 $ 1,180 $ 137