v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 110,734 $ 121,169
Trade and other receivables, net 6,867 17,763
Inventories 8,066 6,169
Prepaid expenses and other current assets 4,516 4,168
Total current assets 130,183 149,269
Property and equipment, net 3,839 3,893
Right-of-use assets, net 4,468 4,621
Other non-current assets 2,635 2,642
Total assets 141,125 160,425
Current liabilities:    
Accounts payable 11,889 29,862
Accrued expenses 3,449 5,029
Lease liabilities, current 662 631
Deferred revenue, current 1,092 1,092
Liability related to the sale of future revenue, current 1,000 1,000
Loans payable, current 13,661 9,994
Total current liabilities 31,753 47,608
Notes payable, net 25,099 27,519
Royalty obligations, net 26,914 25,941
Liability related to the sale of future revenue, net 62,083 62,023
Lease liabilities 4,159 4,337
Deferred revenue, net of current portion 19,118 19,390
Other non-current liabilities 6,053 7,269
Total liabilities 175,179 194,087
Contingencies (Note 20)
Stockholders’ deficit:    
Common stock, $0.001 par value. Authorized $250,000,000 shares; 124,284,542 and 122,044,299 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 124 122
Additional paid-in capital 420,877 413,214
Accumulated deficit (455,055) (446,998)
Total stockholders’ deficit (34,054) (33,662)
Total liabilities and stockholders’ deficit $ 141,125 $ 160,425