v3.26.1
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 182,478 $ 129,972
Prepaid expenses and other current assets 8,302 15,353
Accounts receivable, net 97,422 78,129
Inventory 7,713 5,518
Total current assets 295,915 228,972
Property and equipment, net 971 1,064
Operating lease right-of-use assets 2,410 2,603
Restricted cash 2,864 2,861
Inventory, non-current 21,827 20,732
Other long-term assets 3,088 2,917
Total assets 327,075 259,149
Current liabilities:    
Accounts payable 5,361 4,983
Accrued expenses 109,027 89,831
Accrued interest 1,436 1,833
Operating lease liabilities, current 670 648
Current portion of revenue interest financing liability 37,283 27,249
Other current liabilities   7,500
Total current liabilities 153,777 132,044
Long-term debt, net of discount 164,587 209,087
Revenue interest financing liability 347,629 350,122
Operating lease liabilities 1,855 2,065
Other long-term liabilities 3,500 4,000
Total liabilities 671,348 697,318
Commitments and contingencies (Note 3)
Stockholders' deficit:    
Preferred stock, $0.0001 par value; authorized shares -40,000,000 at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.0001 par value; authorized shares -400,000,000 at June 30, 2026 and December 31, 2025; issued and outstanding shares - 80,070,048 and 71,419,025 at June 30, 2026 and December 31, 2025, respectively 8 6
Treasury stock -19 shares at June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 1,187,928 1,046,083
Accumulated deficit (1,532,209) (1,484,258)
Total stockholders' deficit (344,273) (438,169)
Total liabilities and stockholders' deficit $ 327,075 $ 259,149