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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net loss $ (14,357) $ (15,308)
Adjustments to reconcile net loss to net cash used in by operating activities:    
Depreciation and amortization 153 221
Stock-based compensation 860 1,300
Amortization of debt issuance cost 179 51
Net amortization on investments 24 41
Changes in operating lease liabilities 79  
Changes in assets and liabilities:    
Accounts receivable (385) 911
Inventories (246) (98)
Prepaid expenses and other assets 910 364
Accounts payable 423 (625)
Accrued and other liabilities 896 1,122
Contract research liabilities (201) (124)
Deferred revenue   (479)
Total adjustments 2,692 2,684
Net cash used in operating activities (11,665) (12,624)
Cash flows from investing activities    
Purchases of property and equipment (81) (41)
Purchases of available-for-sale securities (49) (6,835)
Proceeds from maturities of available-for-sale securities 1,693 9,118
Net cash provided by investing activities 1,563 2,242
Cash flows from financing activities    
Payments on equipment financing obligations (5) (6)
Payment of additional issuance cost for term loan   (105)
Net proceeds from issuances of common stock 15,406 18,456
Net cash provided by financing activities 15,401 18,345
Net decrease in Cash, cash equivalents, and restricted cash 5,299 7,963
Cash, cash equivalents, and restricted cash, beginning of the period 31,794 29,525
Cash, cash equivalents, and restricted cash, end of the period [1] 37,093 37,488
Supplementary disclosure of non-cash financing information    
Fully vested options issued to settle accrued liabilities 994 $ 1,860
Operating lease right-of-use assets obtained in exchange for operating lease obligations [2] $ 7,329  
[1] Includes restricted cash of $150,000 (in long term restricted investments) included in the condensed balance sheets at both June 30, 2019 and June 30, 2018.
[2] Amounts for the six months ended June 30, 2019 include the transition adjustment for the adoption of Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“Topic 842”).