v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows used in operating activities    
Net loss $ (95,248) $ (83,150)
Adjustments to reconcile net loss to net cash used in operations:    
Share-based compensation expense 4,232 2,146
Accretion expense of deferred royalty obligation 13,948 13,790
Cumulative catch-up adjustment, deferred royalty obligation (196) (526)
Impairment of long-lived assets and prepaid expenses 6,414 0
Write-downs of inventory 1,636 1,036
Depreciation 704 657
Amortization of operating lease right-of-use assets 937 1,024
Share of results in joint venture 0 1,284
Warrant obligations, increase in fair value 0 838
Amortization of debt discount, senior secured term loan 841 943
Other 479 (240)
Changes in operating assets and liabilities:    
Accounts receivable, net (5,868) 2,314
Inventory (1,012) (50)
Prepaid expenses and other current assets 7,050 (859)
Other long-term assets (146) (287)
Accounts payable (8,680) (6,083)
Accrued expenses and other current liabilities (8,595) (5,732)
Operating lease liabilities (1,002) (1,028)
Other long-term liabilities 4,085 (3,017)
Net cash used in operating activities (80,421) (76,940)
Cash flows used in investing activities    
Payment for purchases of property and equipment (264) (561)
Net cash used in investing activities (264) (561)
Cash flows provided by financing activities    
Proceeds from the sale of common shares, net of transaction costs 43,239 61,731
Proceeds from Pre-Funded Warrants, net of transaction costs 50,760 36,925
Proceeds from share issuance under stock purchase plan 271 323
Proceeds from the exercise of stock options 34 74
Taxes paid related to net settled equity awards (250) 0
Net cash provided by financing activities 94,054 99,053
Net increase in cash and cash equivalents 13,369 21,552
Exchange gains (losses) on cash and cash equivalents 324 (31)
Cash and cash equivalents at beginning of period 250,867 278,598
Cash and cash equivalents at end of period 264,560 300,119
Supplemental Cash Flow Information:    
Interest paid 7,218 7,874
Interest received 3,988 7,635
Payments made under royalty financing transaction 3,220 2,569
Supplemental Non-Cash Investing and Financing Activities:    
Transaction costs recorded in Accounts payable and other current liabilities and other long-term liabilities $ 862 $ 1,225