Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

v3.20.4
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net loss $ (29,744,000) $ (66,894,000) $ (70,480,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 7,297,000 9,115,000 7,704,000
Depreciation and amortization 706,000 683,000 594,000
Net amortization and accretion of discount on short-term investments and term loan (122,000) (1,073,000) (766,000)
Changes in assets and liabilities:      
Accounts receivable, net (5,862,000) (6,034,000) (4,077,000)
Inventories (126,000) (366,000) (839,000)
Prepaid and other current assets (4,583,000) (5,673,000) (1,797,000)
Other assets (128,000) 39,000 68,000
Right-of-use assets 7,814,000 7,118,000  
Accounts payable (331,000) (2,239,000) 3,755,000
Accrued compensation 773,000 (1,133,000) 2,893,000
Accrued research and development (1,071,000) (803,000) 1,735,000
Other accrued liabilities 4,051,000 3,122,000 269,000
Lease liability (7,230,000) (6,725,000)  
Deferred revenue (23,629,000) 24,255,000 2,437,000
Deferred rent and other long term liabilities   5,098,000 (322,000)
Net cash used in operating activities (52,185,000) (41,510,000) (58,826,000)
Investing activities      
Purchases of short-term investments (81,706,000) (145,327,000) (77,996,000)
Maturities of short-term investments 130,434,000 123,126,000 104,066,000
Capital expenditures (1,262,000) (1,455,000) (1,106,000)
Net cash provided by (used in) investing activities 47,466,000 (23,656,000) 24,964,000
Financing activities      
Net proceeds from term loan financing 9,975,000 9,789,000  
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 2,596,000 1,576,000 4,732,000
Proceeds from sale and issuance of common stock, net of offering costs     67,162,000
Net cash provided by financing activities 12,571,000 11,365,000 71,894,000
Net increase (decrease) in cash and cash equivalents 7,852,000 (53,801,000) 38,032,000
Cash and cash equivalents at beginning of period 22,521,000 76,322,000 38,290,000
Cash and cash equivalents at end of period 30,373,000 22,521,000 $ 76,322,000
Supplemental disclosure of cash flow information      
Interest paid $ 1,180,000 $ 137,000