Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (4,189) $ (6,002)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 513 497
Non-cash lease expense 132 119
Stock-based compensation 266 246
Deferred income taxes 3,225 (2,337)
Amortization of discount and premium on investments (13) (79)
Changes in operating assets and liabilities:    
Accounts receivable (570) 2,550
Prepaid expenses and other assets (3,157) 767
Lease liability (131) (110)
Accounts payable (437) 162
Accounts payable - related parties (75) (138)
Accrued expenses 262 1,321
Other liabilities 66 118
Net cash used in operating activities (4,108) (2,886)
Cash flows from investing activities:    
Purchase of marketable securities (3,010) (3,763)
Redemptions and maturities of marketable securities 7,500 1,797
Leasehold improvements 0 (31)
Net cash provided by (used in) investing activities 4,490 (1,997)
Cash flows from financing activities    
Proceeds from exercise of stock options 20 0
Net cash provided by financing activities 20 0
Net increase (decrease) in cash and cash equivalents 402 (4,883)
Cash and cash equivalents - beginning 18,304 32,011
Cash and cash equivalents - ending $ 18,706 $ 27,128