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, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net loss $ (58,573) $ (17,914) $ (29,744)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Stock-based compensation expense 12,385 9,486 7,297
Net gain on sale and write-down of property and equipment (138)    
Depreciation and amortization 998 1,162 706
Noncash interest expense 682 3,139  
Net amortization and accretion of discount on short-term investments and term loan (63) 287 (122)
Changes in assets and liabilities:      
Accounts receivable, net (24,848) 501 (5,862)
Inventories (2,377) (4,875) (126)
Prepaid and other current assets (847) 6,633 (4,583)
Other assets 334 (150) (128)
Right-of-use assets 7,773 8,192 7,814
Accounts payable 3,788 41 (331)
Accrued compensation (1,824) 1,098 773
Accrued research and development (2,676) 5,495 (1,071)
Revenue reserves and refund liability 4,230 1,850 2,733
Other accrued liabilities 1,709 (24) 1,318
Lease liability (8,546) (8,621) (7,230)
Deferred revenue (1,227) (422) (23,629)
Other current and long-term liabilities (4,538)    
Net cash (used in) provided by operating activities (73,758) 5,878 (52,185)
Investing activities      
Purchases of short-term investments (28,894) (141,459) (81,706)
Maturities of short-term investments 101,228 62,050 130,434
Proceeds from sale of property and equipment 893    
Purchases of property and equipment (450) (627) (1,262)
Net cash provided by (used in) investing activities 72,777 (80,036) 47,466
Financing activities      
Cost share advance from a collaboration partner   57,900  
Cost share payments to a collaboration partner (15,116)    
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 2,124 4,775 2,596
Net proceeds from term loan financing 19,542   9,975
Net cash provided by financing activities 6,550 62,675 12,571
Net increase (decrease) in cash and cash equivalents 5,569 (11,483) 7,852
Cash and cash equivalents at beginning of period 18,890 30,373 22,521
Cash and cash equivalents at end of period 24,459 18,890 30,373
Supplemental disclosure of cash flow information      
Interest paid 2,495 $ 1,500 $ 1,180
Purchases of intangible asset included within accounts payable $ 15,000