v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net loss $ (38,327) $ (56,569)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 881 1,046
Stock-based compensation expense 2,385 5,372
Loss on Sale Transactions, net (Note 6) 388  
Change in fair value of derivatives   12,608
Other non-cash adjustments, net 468 858
Changes in operating assets and liabilities:    
Trade receivables, net (4,282) 50,891
Inventory (11,312) (22,244)
Prepaid manufacturing 4,485 188
Other prepaid, current and non-current assets (3,071) (5,334)
Accounts payable 2,564 13,042
Accrued rebates, fees and reserves (1,631) (17,129)
TSA related operating assets and liabilities, net (3,303) (1,836)
Accrued compensation 33 1,606
Accrued and other current and non-current liabilities (7,164) (8,325)
Net cash used in operating activities (57,886) (25,826)
Investing activities    
Purchases of investments in marketable securities (6,388)  
Proceeds from maturities of investments in marketable securities 38,135  
Cash paid related to the Sale Transactions (Note 6)   (4,719)
Milestone payment to Junshi Biosciences   (12,500)
Other investing activities, net (1,092) (267)
Net cash provided by (used in) investing activities 30,655 (17,486)
Financing activities    
Proceeds from issuance of common stock under Public Offering, net of issuance costs 53,650  
Taxes paid related to net share settlement (112) (264)
Other financing activities, net 52  
Net cash provided by (used in) financing activities 53,590 (264)
Net increase (decrease) in cash, cash equivalents and restricted cash 26,359 (43,576)
Cash, cash equivalents and restricted cash at beginning of period 89,119 126,250
Cash, cash equivalents and restricted cash at end of period $ 115,478 $ 82,674