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
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (8,247) $ (13,536)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,134 2,758
Loss on sale and disposal of fixed assets   347
Depreciation and amortization 400 357
Net amortization of discount on short-term investments and term loan (205) (68)
Changes in assets and liabilities:    
Accounts receivable, net 3,038 10,954
Inventories (2,310) (1,949)
Prepaid and other current assets (2,584) 392
Other assets   98
Right-of-use assets 149 807
Accounts payable 2,134 (1,213)
Accrued compensation (3,430) (3,205)
Accrued research and development 614 (768)
Revenue reserves and refund liability 361 1,943
Other accrued liabilities 101 (1,389)
Lease liability (168) (854)
Other current and long-term liabilities   1,252
Net cash used in operating activities (5,013) (4,074)
Investing activities    
Maturities of short-term investments 8,250 15,650
Purchases of short-term investments (7,799)  
Payments for acquisition of intangible assets (138) (15,000)
Proceeds from sale of property and equipment   127
Net cash provided by investing activities 313 777
Financing activities    
Net proceeds from term loan financing   19,950
Net proceeds from issuances of common stock upon exercise of options 89 1
Cost share payments to a collaboration partner (2,601) (828)
Net cash (used in) provided by financing activities (2,512) 19,123
Net (decrease) increase in cash and cash equivalents (7,212) 15,826
Cash and cash equivalents at beginning of period 32,786 24,459
Cash and cash equivalents at end of period 25,574 40,285
Supplemental disclosure of cash flow information    
Interest paid 1,684 $ 1,011
Intangible assets included within acquisition-related liabilities $ 15,222