v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net loss $ (13,579) $ (11,664)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 413 432
Amortization and accretion on investment securities, net (327) (354)
Future royalty payment contingency interest accretion 643 629
Share-based compensation 4,877 5,229
Amortization of right-of-use assets 966 1,101
Deferred income taxes (1,852) (513)
Other (39)  
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements 3,087 2,810
Receivables from milestones and royalty assets 50,000  
Prepaid clinical and development services 73 (48)
Other prepaid and current assets 148 4,034
Right-of-use lease assets (42) (178)
Other assets 330 148
Accounts payable 166 184
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (1,514) (3,396)
Operating lease liabilities (1,664) (1,256)
Unrecognized tax benefits 1,285 1,781
Other long-term liabilities 68 39
Net cash provided by (used in) operating activities 43,039 (1,022)
Investing activities    
Purchases of property and equipment   (91)
Purchases of marketable securities (1,968) (26,902)
Maturities of marketable securities 32,600 44,021
Net cash provided by (used in) investing activities 30,632 17,028
Financing activities    
Ordinary share repurchases   (445)
Proceeds from the sale of ordinary shares 20  
Repurchase of shares to satisfy tax withholding (874) (1,271)
Net cash used in financing activities (854) (1,716)
Net increase in cash, cash equivalents, and restricted cash 72,817 14,290
Cash, cash equivalents, and restricted cash at beginning of period 38,633 40,381
Cash, cash equivalents, and restricted cash at end of period 111,450 54,671
Supplemental disclosure of cash flow information    
Cash paid for income taxes, net $ 4 $ (9)