v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (47,951) $ (170,126)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 224 349
Stock-based compensation 12,246 13,812
Accrued payment-in-kind interest on debt 712 2,300
Accrued interest on revenue interest financing liability, net of payments 7,541 15,491
Amortization of debt discount 1,756 1,430
Loss on extinguishment of debt 829 0
Inventory reserve 0 819
Other 2,888 3,131
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 7,050 6,246
Accounts receivable, net (19,293) (12,458)
Accounts payable and accrued expenses 20,274 5,416
Accrued interest (396) 43
Operating right-of-use assets and lease liabilities 5 66
Inventory (3,291) (14,178)
Other long-term assets (171) 0
Net cash used in operating activities (17,577) (147,659)
Cash flows from investing activities    
Cash paid for property and equipment (105) (115)
Net cash used in investing activities (105) (115)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options 4,142 80
Proceeds from issuance of long-term debt, net of issuance costs 173,250 0
Repayment of long-term debt (229,047) 0
Net proceeds from underwritten public offering 121,974 0
Payment of employee tax obligations related to vesting of PSUs and RSUs (128) 0
Net cash provided by financing activities 70,191 80
Net increase (decrease) in cash and cash equivalents and restricted cash 52,509 (147,694)
Cash and cash equivalents and restricted cash - beginning of period 132,833 300,125
Cash and cash equivalents and restricted cash - end of period 185,342 152,431
Supplemental disclosure of cash flow information    
Interest paid 9,294 10,538
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses 0 9
Settlement of ESPP liability in common stock 1,538 1,853
Settlement of 401(k) liability in common stock 2,074 2,127
Final interest payment fee $ 3,500 $ 0