v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 264,560 $ 250,867
Accounts receivable, net 26,184 20,316
Inventory 17,763 18,387
Prepaid expenses 4,584 8,370
Other current assets 5,664 9,450
Total current assets 318,755 307,390
Property and equipment, net 1 5,075
Operating lease right-of-use assets 1,488 8,354
Other long-term assets 1,317 1,161
Total assets 321,561 321,980
Current liabilities    
Accounts payable 9,616 18,029
Accrued expenses and other current liabilities 54,984 62,440
Total current liabilities 64,600 80,469
Deferred royalty obligation, long-term 333,244 320,093
Senior secured term loans 114,473 113,632
Operating lease liabilities, long-term 1,258 7,995
Other long-term liabilities 7,170 2,433
Total liabilities 520,745 524,622
Commitments and contingencies (See Note 12)
Shareholders’ (deficit) equity    
Common shares, at CHF $0.08 par value Issued shares: 99,453,858 at June 30, 2024 and 89,041,946 December 31, 2023; outstanding shares: 96,469,641 at June 30, 2024 and 82,293,137 at December 31, 2023 9,753 8,425
Additional paid-in capital 1,380,224 1,283,892
Treasury shares (207) (220)
Accumulated other comprehensive loss (388) (1,421)
Accumulated deficit (1,588,566) (1,493,318)
Total shareholders’ (deficit) equity (199,184) (202,642)
Total liabilities and shareholders’ (deficit) equity $ 321,561 $ 321,980