A reconciliation of cash, cash equivalents, and restricted cash reported in the accompanying condensed consolidated balance sheets to the amount reported within the accompanying condensed consolidated statements of cash flows was as follows (in thousands):


	June 30, 2026		December 31, 2025
Cash and cash equivalents	$	255,271	$	122,518
Restricted cash		3,107		3,114
Total cash, cash equivalents, and restricted cash as reported within our condensed consolidated statement of cash flows	$	258,378	$	125,632

As of June 30, 2026, the Company's restricted cash balance of $3.1 million is used to collateralize certain credit instruments.

Accounts receivable, net was as follows (in thousands):


	June 30, 2026		December 31, 2025
Accounts receivable, net:
Net product receivables	$	21,517	$	—
Collaboration receivables		2,915		17,764
Total accounts receivable, net	$	24,432	$	17,764

Inventories were as follows (in thousands):


	June 30, 2026		December 31, 2025
Inventories:
Raw materials	$	5,535	$	—
Work in process		994		—
Finished goods		380		—
Total inventories	$	6,909	$	—

Inventories, long-term, are comprised of raw materials and work in process that are expected to be sold beyond the next 12 months.

Accrued liabilities were as follows (in thousands):


	June 30, 2026		December 31, 2025
Accrued liabilities:
Clinical and preclinical costs	$	21,166	$	24,561
Compensation related		34,338		45,150
Other accrued expenses		21,358		13,567
Total accrued liabilities	$	76,862	$	83,278