v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 97,191 $ 67,999
Short-term investments 184,639 196,690
Accounts receivable 100,352 71,848
Inventory 25,858 17,735
Prepaid commercial manufacturing 14,697 14,479
Prepaid expenses and other current assets 19,189 13,566
Total current assets 441,926 382,317
Property and equipment, net 1,781 2,184
Inventory, non-current 113,127 105,372
Prepaid commercial manufacturing, non-current 8,494 0
Right-of-use assets 4,065 4,795
Other assets 6,501 6,936
Total assets 575,894 501,604
Current liabilities    
Accounts payable 38,410 19,235
Accrued compensation and benefits 14,564 19,108
Current portion of operating lease liability 1,545 1,479
Deferred revenue 6,738 1,206
Accrued expenses and other current liabilities 70,963 47,577
Total current liabilities 132,220 88,605
Operating lease liability, net of current portion 2,822 3,641
Long-term debt 251,823 202,834
Deferred revenue, non-current 13,699 13,699
Deferred royalty obligation related to the sale of future royalties 26,317 25,876
Total liabilities 426,881 334,655
Commitments and contingencies (Note 14)
Stockholders’ equity    
Common stock, $0.0001 par value per share; 500,000,000 shares authorized; 249,147,061 and 244,351,501 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 25 24
Additional paid-in capital 1,150,446 1,113,666
Accumulated deficit (1,001,265) (946,939)
Accumulated other comprehensive (loss) income (193) 198
Total stockholders’ equity 149,013 166,949
Total liabilities and stockholders’ equity $ 575,894 $ 501,604