v3.25.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (79,946) $ (58,751)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 14,368 8,896
Depreciation and amortization 732 1,069
Non-cash lease expense 112 233
Loss (gain) on disposal of property and equipment   3
Accretion and non-cash interest expense 10,327 6,483
Changes in operating assets and liabilities:    
Accounts receivable, net (7,249) 812
Inventory (5,980) (7,212)
Prepaid expenses and other current assets (83) (1,548)
Other noncurrent assets (11,502) 63
Accounts payable 5,364 3,224
Accrued expenses and other current liabilities 3,863 (300)
Operating lease liabilities (166) (499)
Net cash used in operating activities (70,160) (47,527)
Investing activities    
Purchases of property, plant and equipment (1,387) (1,914)
Net cash used in investing activities (1,387) (1,914)
Financing activities    
Proceeds from long-term debt, net of fees 74,975 24,975
Payments on long-term debt (4,976) (1,692)
Principal payments on finance leases (64) (53)
Receipts from litigation financing 670 222
Proceeds from sale of common stock, net of issuance costs   74,868
Proceeds from issuance of common stock under stock incentive plans 1,389 535
Net cash provided by financing activities 71,994 98,855
Net increase in cash, cash equivalents, and restricted cash 447 49,414
Cash, cash equivalents, and restricted cash, beginning of period 176,479 83,679
Cash, cash equivalents, and restricted cash, end of period 176,926 133,093
Supplemental disclosure of cash flow information    
Cash paid for operating lease liabilities 341 655
Non-cash increase in property, plant and equipment through accounts payable 469 634
Non-cash increase in indemnification asset through accounts payable $ 824 $ 487