v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (131,867) $ (108,625)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 20,134 19,271
Non-cash interest expense 2,144 2,537
Change in fair value of derivative liabilities 1,619 8,179
Depreciation and amortization expense 2,007 1,876
Gain on sale of property and equipment (29)  
Loss on extinguishment of debt   27,950
Changes in operating assets and liabilities:    
Accounts receivable, net 1,976 (4,053)
Prepaid expenses and other current assets 4,983 1,678
Inventory 1 (242)
Accounts payable 1,738 (727)
Operating lease assets 62 467
Accrued expenses (2,304) (6,171)
Deferred revenue (128) (121)
Operating lease liabilities (245) (708)
Net cash used in operating activities (99,909) (58,689)
Cash flows from investing activities:    
Purchases of property and equipment (3,178) (997)
Proceeds from sales of property and equipment 130  
Net cash used in investing activities (3,048) (997)
Cash flows from financing activities:    
Proceeds from exercise of stock options 7,251 6,574
Proceeds from issuance of common stock pursuant to employee stock purchase plan 713 492
Proceeds from issuance of common stock upon public offering, net of issuance costs 94,025  
Proceeds from issuance of common stock and pre-funded warrants upon private placement, net of issuance costs   316,353
Net cash provided by financing activities 101,989 323,419
Net (decrease) increase in cash, cash equivalents and restricted cash (968) 263,733
Cash, cash equivalents and restricted cash at beginning of period 393,716 197,571
Cash, cash equivalents and restricted cash at end of period 392,748 461,304
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,448 15,595
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment included in accounts payable and accrued expenses 123 $ 43
Receivable from exercise of stock options included in prepaid expenses and other current assets $ 316