v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 154,972 $ 89,736
Restricted cash 479 201
Short-term investments 197,601 185,011
Trade receivables 110,757 106,818
Inventory, net 6,056 5,398
Prepaid expenses and other current assets 14,818 17,182
Total current assets 484,683 404,346
Long-term inventory, net 31,945 23,990
Property and equipment, net 9,058 8,783
Long-term investments 0 61,164
Right of use assets, net 12,608 10,203
Other assets 19,557 5,672
Total assets 557,851 514,158
Current liabilities:    
Accounts payable 11,459 15,826
Accrued expenses 121,895 126,413
Share-based liability 16,360 13,743
Operating lease liabilities 1,912 317
Finance lease liabilities 1,092 1,312
Royalty financing obligations 43,808 38,455
Deferred revenue 12,320 0
Total current liabilities 208,846 196,066
Operating lease liabilities 10,603 8,571
Finance lease liabilities 849 1,441
Royalty financing obligations 382,981 427,233
Secured term loan 395,400 0
Deferred revenue 13,461 0
Total liabilities 1,012,140 633,311
Stockholders’ deficit:    
Preferred stock, $0.01 par value; shares authorized - 5,000; no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.01 par value; shares authorized - 450,000; shares issued and outstanding – 255,265 at June 30, 2026 and 213,060 at December 31, 2025 2,553 2,131
Additional paid-in capital 1,693,282 1,384,857
Accumulated other comprehensive (loss) income (528) 38
Accumulated deficit (2,149,596) (1,506,179)
Total stockholders’ deficit (454,289) (119,153)
Total liabilities and stockholders’ deficit $ 557,851 $ 514,158