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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2023 | Jun. 30, 2022
Cash flows from operating activities: |  |
Net loss | $ (59,863) | $ (59,054)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and amortization | 1,482 | 1,552
Amortization and premium of marketable securities, net | (2,416) | 1,308
Loss (gain) on sale or disposal of assets | 0 | 57
Gain on fair value remeasurement of contingent consideration | 0 | (6,862)
Stock-based compensation expense | 9,557 | 6,607
Changes in operating assets and liabilities: |  |
Accounts and other receivables | 229 | 75
Other assets | (3) |
Prepaid and other current assets | (61) | (8,485)
Accounts payable and accrued expenses | (2,970) | (862)
Litigation settlement payable | 0 | 15,000
Other liabilities | (1,720) | 3,886
Net cash used in operating activities | (55,765) | (46,778)
Cash flows from investing activities: |  |
Sales and maturities of marketable securities | 210,150 | 106,756
Purchases of marketable securities | (155,422) | (69,847)
Acquisition of property and equipment | (995) | (1,248)
Net cash provided by investing activities | 53,733 | 35,661
Cash flows from financing activities: |  |
Proceeds from issuance of stock from employee benefit plans | 827 | 375
Net cash provided by financing activities | 827 | 375
Net decrease in cash and cash equivalents | (1,205) | (10,742)
Cash and cash equivalents at beginning of period | 29,429 | 39,143
Cash and cash equivalents at end of period | 28,224 | 28,401
Non-cash investing activities |  |
Accrued construction in progress | $ 46 | $ 54

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