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, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (25,828) $ (59,974)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 6,873 8,305
Loss (gain) on sale and disposal of fixed assets 376 (465)
Depreciation and amortization 945 714
Non-cash interest expense   682
Net amortization and accretion of discount on short-term investments and term loan (219) 116
Changes in assets and liabilities:    
Accounts receivable, net 16,774 (53)
Inventories (1,359) (394)
Prepaid and other current assets 5,244 1,255
Other assets 85 490
Right-of-use assets 922 6,712
Accounts payable 491 (999)
Accrued compensation (773) (1,917)
Accrued research and development (1,954) (2,810)
Revenue reserves and refund liability 2,398 3,274
Other accrued liabilities (1,455) 1,637
Lease liability (966) (7,337)
Deferred revenue (14) (1,227)
Other current and long-term liabilities (1,043) 142
Net cash provided by (used in) operating activities 497 (51,849)
Investing activities    
Maturities of short-term investments 35,650 80,062
Purchases of short-term investments (18,222) (26,049)
Purchases of intangible asset (15,000)  
Proceeds from sale of property and equipment 149 543
Purchases of property and equipment   (377)
Net cash provided by investing activities 2,577 54,179
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 563 1,539
Cost share payments to a collaboration partner (2,632) (12,435)
Net cash provided by financing activities 17,881 8,646
Net increase in cash and cash equivalents 20,955 10,976
Cash and cash equivalents at beginning of period 24,459 18,890
Cash and cash equivalents at end of period 45,414 29,866
Supplemental disclosure of cash flow information    
Interest paid $ 4,167 $ 1,549