v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (227,609) $ (78,719)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,716 2,741
Loss on joint development agreement 3,785 0
Impairment of inventories 134 559
Change in fair value of warrant liabilities 93,878 (3,080)
Fair value loss on share subscription liability 69,996 0
Stock-based compensation 10,588 10,625
Amortization of right-of-use assets 1,830 1,703
Amortization of premium and accretion of discount on available-for-sale securities, net (795) (2,096)
Other 0 118
Changes in operating assets and liabilities:    
Accounts receivable (2,709) (216)
Inventories (1,448) (1,184)
Other current assets 2,849 (3,156)
Other noncurrent assets 505 317
Accounts payable (1,779) 199
Accrued liabilities (2,940) 288
Accrued employee costs (3,337) (2,999)
Lease liability (1,932) (1,749)
Other current liabilities (5,820) 16,522
Other noncurrent liability 1,472 0
Net cash used in operating activities (60,616) (60,127)
Cash flows from investing activities:    
Purchase of property, plant and equipment (1,825) (2,427)
Purchase of available-for-sale securities (23,369) (52,072)
Proceeds from maturities of available-for-sale securities 79,149 99,940
Net cash provided by investing activities 53,955 45,441
Cash flows from financing activities:    
Payments of taxes withheld on net settled vesting of restricted stock units (578) (293)
Proceeds from exercise of stock options 118 54
Net cash used in financing activities (460) (239)
Net decrease in cash and cash equivalents (7,121) (14,925)
Beginning cash and cash equivalents 28,864 38,547
Ending cash and cash equivalents 21,743 23,622
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes 73 66
Supplemental disclosures of non-cash investing and financing activities:    
Joint development agreement receivable 7,500 0
Share subscription liability 8,632 0
Unpaid property, plant and equipment purchases $ 1,206 $ 113