Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v3.22.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income (loss) $ (27,445) $ 39,500
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation expense 3,207 2,639
Depreciation and amortization 237 239
Noncash interest expense 682 60
Net amortization and accretion of discount on short-term investments and term loan 28 85
Changes in assets and liabilities:    
Accounts receivable, net 232 (126,222)
Inventories (112) (5,272)
Prepaid and other current assets (2,003) 5,774
Other assets 510 6
Right-of-use assets 2,171 1,976
Accounts payable 850 1,394
Accrued compensation (4,062) (2,997)
Accrued research and development (892) 479
Other accrued liabilities 3,814 61
Lease liability (2,355) (2,059)
Deferred revenue (499) 6,482
Other current and long-term liabilities   57,900
Net cash used in operating activities (25,637) (19,955)
Investing activities    
Purchases of short-term investments (6,997) (4,297)
Maturities of short-term investments 29,850 11,900
Capital expenditures (224) (71)
Net cash provided by investing activities 22,629 7,532
Financing activities    
Cost share payment to a collaboration partner (2,118)  
Net proceeds from issuances of common stock upon exercise of options 940 2,097
Net proceeds from term loan financing 9,975  
Net cash provided by financing activities 8,797 2,097
Net increase (decrease) in cash and cash equivalents 5,789 (10,326)
Cash and cash equivalents at beginning of period 18,890 30,373
Cash and cash equivalents at end of period 24,679 20,047
Supplemental disclosure of cash flow information    
Interest paid $ 393 $ 358