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, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (13,536) $ (27,445)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,758 3,207
Loss on sale and disposal of fixed assets 347  
Depreciation and amortization 357 237
Non-cash interest expense   682
Net amortization and accretion of discount on short-term investments and term loan (68) 28
Changes in assets and liabilities:    
Accounts receivable, net 10,954 232
Inventories (1,949) (112)
Prepaid and other current assets 392 (2,003)
Other assets 98 510
Right-of-use assets 807 2,171
Accounts payable (1,213) 850
Accrued compensation (3,205) (4,062)
Accrued research and development (768) (892)
Revenue reserves and refund liability 1,943 1,540
Other accrued liabilities (1,389) 2,274
Lease liability (854) (2,355)
Deferred revenue   (499)
Other current and long-term liabilities 1,252  
Net cash used in operating activities (4,074) (25,637)
Investing activities    
Purchases of short-term investments   (6,997)
Maturities of short-term investments 15,650 29,850
Purchases of intangible asset (15,000)  
Proceeds from sale of property and equipment 127  
Purchases of property and equipment   (224)
Net cash provided by investing activities 777 22,629
Financing activities    
Cost share payments to a collaboration partner (828) (2,118)
Net proceeds from issuances of common stock upon exercise of options 1 940
Net proceeds from term loan financing 19,950 9,975
Net cash provided by financing activities 19,123 8,797
Net increase in cash and cash equivalents 15,826 5,789
Cash and cash equivalents at beginning of period 24,459 18,890
Cash and cash equivalents at end of period 40,285 24,679
Supplemental disclosure of cash flow information    
Interest paid $ 1,011 $ 393