v3.25.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net loss $ (38,367) $ (30,083)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 7,438 4,524
Depreciation and amortization 451 489
Non-cash lease expense 55 113
Loss (gain) on disposal of property and equipment   3
Accretion and non-cash interest expense 4,670 3,159
Changes in operating assets and liabilities:    
Accounts receivable, net 1,472 1,491
Inventory (1,108) (3,517)
Prepaid expenses and other current assets 815 (1,832)
Other noncurrent assets (4,624) 63
Accounts payable 3,418 303
Accrued expenses and other current liabilities (4,818) 668
Operating lease liabilities (81) (247)
Net cash used in operating activities (30,679) (24,866)
Investing activities    
Purchases of property, plant and equipment (330) (624)
Net cash used in investing activities (330) (624)
Financing activities    
Proceeds from long-term debt, net of fees 24,975 24,975
Payments on long-term debt (2,122) (654)
Principal payments on finance leases (64) (26)
Receipts from litigation financing 235 3
Proceeds from sale of common stock, net of issuance costs   74,868
Proceeds from issuance of common stock under stock incentive plans 1,264 503
Net cash provided by financing activities 24,288 99,669
Net increase (decrease) in cash and cash equivalents (6,721) 74,179
Cash and cash equivalents, beginning of period 176,479 83,679
Cash and cash equivalents, end of period 169,758 157,858
Supplemental disclosure of cash flow information    
Cash paid for operating lease liabilities 341 328
Non-cash increase in property, plant and equipment through accounts payable 151 786
Non-cash increase in indemnification asset through accounts payable $ 417 $ 5