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 $ (36,210) $ (122,773)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 259 373
Accretion and amortization on investments, net (3,948) (4,893)
Amortization of debt issuance costs/debt discounts 515 1,492
Non-cash interest expense on liabilities for sales of future royalties 9,880 0
Stock-based compensation for services by non-employees 41 107
Stock-based compensation for employees and directors 14,146 17,502
Amortization of right-of-use assets 358 331
Increase in allowance for doubtful accounts 21 0
Changes in assets and liabilities:    
Inventory (30,410) (774)
Accounts receivable, net (684) (874)
Prepaid expenses, interest receivable and other assets (1,173) (1,309)
Current and noncurrent liabilities (21,484) (4,913)
Payment on Royalty agreement (6,705) 0
Net cash used in operating activities (75,394) (115,731)
Cash flows from investing activities:    
Purchases of property and equipment (138) (821)
Purchases of marketable securities (123,173) (226,333)
Proceeds from maturities of marketable securities 196,065 225,215
Net cash provided by (used in) investing activities 72,754 (1,939)
Cash flows from financing activities:    
Proceeds from issuances of common stock from equity plans 847 23,122
Proceeds from issuance of common stock from offering and pre-funded warrant, net of paid issuance costs 0 140,729
Proceeds from exercise of warrants 0 414
Proceeds from employee stock purchase plan 500 366
Net cash provided by financing activities 1,347 164,631
Effect of exchange rates on cash, cash equivalents and restricted cash 21 (31)
Net increase in cash, cash equivalents and restricted cash (1,272) 46,930
Cash, cash equivalents and restricted cash at the beginning of the period 80,876 71,138
Cash, cash equivalents and restricted cash at the end of the period $ 79,604 $ 118,068