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
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income (loss) $ (40,937) $ 25,679
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation expense 5,598 4,945
Gain on disposal of assets (253)  
Depreciation and amortization 474 497
Noncash interest expense 682 1,428
Net amortization and accretion of discount on short-term investments and term loan 107 95
Changes in assets and liabilities:    
Accounts receivable, net (1,726) (1,399)
Inventories 483 (5,158)
Prepaid and other current assets (527) 7,439
Other assets 571 (16)
Right-of-use assets 4,458 4,000
Accounts payable (1,585) (2,030)
Accrued compensation (3,165) (1,828)
Accrued research and development (1,171) 1,575
Other accrued liabilities 4,194 1,436
Lease liability (4,840) (4,197)
Deferred revenue (1,053) 2,795
Other current and long-term liabilities 142  
Net cash provided by (used in) operating activities (38,548) 35,261
Investing activities    
Purchases of short-term investments (6,997) (71,450)
Maturities of short-term investments 50,645 29,801
Proceeds from disposal of assets 264  
Capital expenditures (188) (478)
Net cash provided by (used in) investing activities 43,724 (42,127)
Financing activities    
Cost share advance from collaboration partner   57,900
Cost share payment to a collaboration partner (8,346)  
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 1,539 3,416
Net proceeds from term loan financing 9,942  
Net cash provided by financing activities 3,135 61,316
Net increase in cash and cash equivalents 8,311 54,450
Cash and cash equivalents at beginning of period 18,890 30,373
Cash and cash equivalents at end of period 27,201 84,823
Supplemental disclosure of cash flow information    
Interest paid $ 951 $ 723