Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Balance Sheet Components [Abstract]

Balance Sheet Components

5.    Balance Sheet Components

Investments

The fair value of the Company’s cash equivalents and available-for-sale investments as of June 30, 2023 and December 31, 2022 are as follows (in thousands):

	June 30, 2023
			Gross Unrealized				Estimated
	Amortized Cost		Gains		Losses		Fair Value
Money market funds	$	28,162	$	—	$	—	$	28,162
Commercial paper		35,674		—		—		35,674
Corporate bonds/notes		31,102		—		(94)		31,008
U.S. government securities		40,709		—		(36)		40,673
Agency bonds/notes		66,691		4		(205)		66,490
	$	202,338	$	4	$	(335)	$	202,007
Classified as:
Cash equivalents							$	28,162
Short-term investments								159,961
Long-term investments								13,884
							$	202,007

	December 31, 2022
			Gross Unrealized				Estimated
	Amortized Cost		Gains		Losses		Fair Value
Money market funds	$	55,158	$	—	$	—	$	55,158
U.S. treasury bills		19,772		4		—		19,776
Commercial paper		48,875		—		—		48,875
Corporate bonds/notes		1,528		—		(13)		1,515
U.S. government securities		83,432		2		(164)		83,270
Asset-backed securities		2,000		—		(4)		1,996
Agency notes		2,876		8		—		2,884
	$	213,641	$	14	$	(181)	$	213,474
Classified as:
Cash equivalents							$	55,158
Short-term investments								158,316
							$	213,474

The following table summarizes the fair value of the Company’s cash equivalents, and available-for-sale investments classified by maturity as of June 30, 2023 and December 31, 2022 (in thousands):

	June 30,		December 31,
	2023		2022
Amounts maturing within one year	$	188,123	$	213,474
Amounts maturing after one year through two years		13,884		—
	$	202,007	$	213,474

Available-for-sale investments held as of June 30, 2023 had a weighted average days to maturity of 222 days.

The following table presents the Company’s available-for-sale investments that were in an unrealized loss position as of June 30, 2023 and December 31, 2022 (in thousands):

	June 30, 2023				December 31, 2022
	Less than 12 months				Less than 12 months
Assets:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds/notes	$	30,727	$	(94)	$	1,490	$	(13)
U.S. government securities		30,669		(36)		73,329		(164)
Asset-backed securities		—		—		1,994		(4)
Agency bonds/notes		60,411		(205)		—		—
	$	121,807	$	(335)	$	76,813	$	(181)

Inventories

Components of inventories were as follows (in thousands):

	June 30,		December 31,
	2023		2022
Raw materials	$	5,937	$	4,913
Finished products		13,130		14,380
	$	19,067	$	19,293

As of June 30, 2023 and December 31, 2022, there were no work-in-process inventories.

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

	June 30,		December 31,
	2023		2022
Accrued payroll and related expenses	$	12,200	$	15,216
Operating lease liability		1,669		1,844
Accrued royalty expense		1,050		973
Accrued professional services		606		781
Accrued travel expenses		847		775
Provision for sales returns		573		540
Accrued interest payable		501		519
Deferred revenue		220		253
Accrued clinical expenses		251		249
Accrued other expenses		842		815
Total	$	18,759	$	21,965