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 $ (40,946) $ (87,714)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 20,267 22,553
Amortization of intangible assets 3,542 375
Non-cash interest expense 846 2,009
Net accretion on marketable securities (1,554) (4,113)
Other non-cash items, net 348 (123)
Changes in operating assets and liabilities:    
Accounts receivable, net (33,621) (16,524)
Inventories (1,433) (746)
Prepaid expenses and other current assets 1,018 3,369
Accounts payable 863 (4,172)
Accrued liabilities 21,018 8,726
Operating lease liabilities (404) (362)
Net cash used in operating activities (30,056) (76,722)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (89,262) (231,727)
Proceeds from maturities of marketable securities 129,121 140,893
Milestone payment for intangible asset (10,000) 0
Purchases of property and equipment (686) 0
Net cash provided by (used in) investing activities 29,173 (90,834)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon exercise of stock options 456 888
Proceeds from issuance of common stock pursuant to employee stock purchase plan 1,319 649
Proceeds from issuance of common stock, net of issuance costs 0 161,682
Net cash provided by financing activities 1,775 163,219
Effect of exchange rate changes on cash 204 (99)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,096 (4,436)
Cash, cash equivalents, and restricted cash at beginning of period 71,952 89,323
Cash, cash equivalents, and restricted cash at end of period 73,048 84,887
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest expense paid in cash $ 5,164 $ 13,021