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
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income (loss) $ (59,974) $ 4,727
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation expense 8,305 7,147
Gain on disposal of assets (465)  
Depreciation and amortization 714 758
Noncash interest expense 682 2,314
Net amortization and accretion of discount on short-term investments and term loan 116 171
Changes in assets and liabilities:    
Accounts receivable, net (53) 982
Inventories (394) (5,325)
Prepaid and other current assets 1,255 8,113
Other assets 490 (111)
Right-of-use assets 6,712 6,071
Accounts payable (999) (656)
Accrued compensation (1,917) (131)
Accrued research and development (2,810) 4,586
Other accrued liabilities 4,911 2,563
Lease liability (7,337) (6,384)
Deferred revenue (1,227) 139
Other current and long-term liabilities 142  
Net cash provided by (used in) operating activities (51,849) 24,964
Investing activities    
Purchases of short-term investments (26,049) (117,076)
Maturities of short-term investments 80,062 31,200
Proceeds from disposal of assets 543  
Capital expenditures (377) (648)
Net cash provided by (used in) investing activities 54,179 (86,524)
Financing activities    
Cost share advance from collaboration partner   57,900
Cost share payment to a collaboration partner (12,435)  
Net proceeds from issuances of common stock upon exercise of options and participation in Purchase Plan 1,539 3,690
Net proceeds from term loan financing 19,542  
Net cash provided by financing activities 8,646 61,590
Net increase in cash and cash equivalents 10,976 30
Cash and cash equivalents at beginning of period 18,890 30,373
Cash and cash equivalents at end of period 29,866 30,403
Supplemental disclosure of cash flow information    
Interest paid $ 1,549 $ 1,094