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, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (9,277) $ (20,136)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Stock-based compensation expense 7,662 4,930
Loss on sale and disposal of fixed assets   398
Depreciation and amortization 1,013 653
Net amortization of discount on short-term investments and term loans (364) (114)
Changes in assets and liabilities:    
Accounts receivable, net 1,646 19,501
Inventories (4,505) (1,640)
Prepaid and other current and non-current assets (2,088) 3,391
Right-of-use assets 301 933
Accounts payable (1,012) (2,268)
Accrued compensation (2,303) (2,127)
Accrued research and development 1,159 (1,882)
Revenue reserves and refund liability 2,863 1,539
Other accrued liabilities 532 (1,472)
Lease liability (338) (1,011)
Deferred revenue   (14)
Other current and long-term liabilities   1,175
Net cash (used in) provided by operating activities (4,711) 1,856
Investing activities    
Maturities of short-term investments 26,950 27,400
Purchases of short-term investments (15,348) (8,780)
Payments for acquisition of intangible assets (360) (15,000)
Proceeds from sale of property and equipment   127
Net cash provided by investing activities 11,242 3,747
Financing activities    
Net proceeds from term loan financing   19,950
Net proceeds from issuances of common stock upon exercise of options 341 554
Cost share payments to a collaboration partner (3,605) (1,754)
Net cash (used in) provided by financing activities (3,264) 18,750
Net increase in cash and cash equivalents 3,267 24,353
Cash and cash equivalents at beginning of period 32,786 24,459
Cash and cash equivalents at end of period 36,053 48,812
Supplemental disclosure of cash flow information    
Interest paid 3,457 $ 2,485
Intangible assets included within acquisition-related liabilities $ 15,000