v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (70,128) $ (61,959)
Adjustments to reconcile net loss to net cash proceeds from operating activities:    
Depreciation and amortization 2,013 2,037
Amortization of debt issuance costs and debt discount 0 63
Non-cash operating lease cost 357 365
Stock-based compensation 6,593 7,171
Loss on derivative liability 1,966 15,741
Financing costs and allocated expense for financial instruments at fair value 4,057 2,526
In-process research and development expense 4,916 0
Change in fair value of debt and liability instruments 14,480 10,004
Other 77 53
Changes in operating assets and liabilities:    
Accounts receivables, net 9,675 (3,407)
Inventory (88) 1,138
Prepaid expenses and other 1,466 474
Other long-term assets 0 (30)
Accounts payable 6,856 653
Accrued Payroll 128 1,392
Accrued expenses 599 470
Accrued rebates and fees 30,423 35,405
Operating lease liability (343) (402)
Other long-term liabilities 10 8
Net cash proceeds from operating activities 13,057 11,702
Investing activities    
Acquisition consideration paid in cash for Romeg intangible asset acquisition (300) (300)
Cash paid for in-process research and development, net (200) 0
Purchase of convertible promissory note from Denali (48) 0
Net cash used for investing activities (548) (300)
Financing activities    
Proceeds from issuance of shares under Standby Equity Purchase Agreements and ATM Sales Agreement 0 156
Proceeds from issuance of Revolving Facility 0 65,470
Proceeds from issuance of FSF Deposit 0 10,000
Repayment of Revolving Facility 0 (65,265)
Repayment of Oramed Note 0 (35,000)
Repayment of Convertible Debentures 0 (4,375)
Repayment of Tranche B Notes principal and interest (8,874) 0
Payments on purchased revenue liability (1,156) 0
Transaction costs paid in connection with share repurchase (696) 0
Proceeds from issuance of shares under direct offerings 0 25,000
Payments of direct offering issuance costs 0 (2,834)
Excise tax paid in connection with share repurchase (709) 0
Payments of deferred transaction costs related to Semnur Business Combination (263) 0
Proceeds from stock options and warrants exercised and ESPP 17 383
Payments in lieu of fractional shares for Reverse Stock Split (1) 0
Net cash used for financing activities (11,682) (6,465)
Net change in cash, cash equivalents and restricted cash 827 4,937
Cash and cash equivalents at beginning of period 3,272 4,729
Cash and cash equivalents at end of period 4,099 9,666
Supplemental disclosure of non-cash financing activity    
Issuance costs related to February 2024 BDO and April 2024 RDO included in accrued expenses and accounts payables 0 1,440
Deferred transaction costs related to Semnur Business Combination included in accrued expenses and account payable 2,209 0
Additions to intangible assets included in accrued expenses 1,000 0
Acquisition of interest in joint venture in accrued expenses $ 1,100 $ 0