Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

v3.24.0.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net loss $ (25,091) $ (58,573) $ (17,914)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Stock-based compensation expense 8,806 12,385 9,486
Loss (gain) on sale and disposal of fixed assets 266 (138)  
Depreciation and amortization 1,238 998 1,162
Non-cash interest expense   682 3,139
Net amortization and accretion of discount on short-term investments and term loan (479) (63) 287
Changes in assets and liabilities:      
Accounts receivable, net 9,770 (24,848) 501
Inventories 1,172 (2,377) (4,875)
Prepaid and other current assets 1,998 (847) 6,633
Other assets 56 334 (150)
Right-of-use assets 1,069 7,773 8,192
Accounts payable (366) 3,788 41
Accrued compensation (190) (1,824) 1,098
Accrued research and development (4,195) (2,676) 5,495
Revenue reserves and refund liability 3,539 4,230 1,850
Other accrued liabilities (1,151) 1,709 (24)
Lease liability (1,128) (8,546) (8,621)
Deferred revenue (14) (1,227) (422)
Other current and long-term liabilities (1,043) (4,538)  
Net cash (used in) provided by operating activities (5,743) (73,758) 5,878
Investing activities      
Maturities of short-term investments 41,650 101,228 62,050
Purchases of short-term investments (31,206) (28,894) (141,459)
Purchases of intangible asset (15,000)    
Proceeds from sale of property and equipment 259 893  
Purchases of property and equipment   (450) (627)
Net cash (used in) provided by investing activities (4,297) 72,777 (80,036)
Financing activities      
Net proceeds from term loan financing 19,950 19,542  
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 1,049 2,124 4,775
Cost share advance from a collaboration partner     57,900
Cost share payments to a collaboration partner (2,632) (15,116)  
Net cash provided by financing activities 18,367 6,550 62,675
Net increase (decrease) in cash and cash equivalents 8,327 5,569 (11,483)
Cash and cash equivalents at beginning of period 24,459 18,890 30,373
Cash and cash equivalents at end of period 32,786 24,459 18,890
Supplemental disclosure of cash flow information      
Interest paid $ 5,848 2,495 $ 1,500
Purchases of intangible asset included within accounts payable   $ 15,000