v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (44,446) $ (38,118)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 186 164
Stock-based compensation 5,356 6,215
Non-cash interest expense on liability related to the royalty purchase agreement 3,111  
Accrued interest expense on liability related to the note payable 442  
Gain on sale of strategic investments (2,286)  
Accretion and interest related to marketable securities (476) (161)
Non-cash lease expense 325 297
Change in the fair value of derivative liability (289)  
Amortization of deferred financing fees 129 92
Changes in operating assets and liabilities:    
Accounts receivable 44 9
Inventory 60 (11)
Prepaid expenses and other assets 14 148
Accounts payable, accrued expenses and other liabilities (3,311) 888
Operating lease liabilities - current and non-current (359) (267)
Deferred revenue   (1,399)
Net cash used in operating activities (41,500) (32,143)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (438) (146)
Sales of marketable securities 38,791 32,403
Purchases of marketable securities (56,125) (2,902)
Sale of strategic investments 4,781  
Net cash (used in) provided by investing activities (12,991) 29,355
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the royalty purchase agreement 15,000  
Proceeds from Medtronic term loan 20,000  
Proceeds from At-The-Market offering, net of issuance costs 5,855  
Proceeds from exercise of stock options 34 91
Restricted stock units withheld for tax (616) (815)
Net cash provided by (used in) financing activities 40,273 (724)
Net decrease in cash and cash equivalents (14,218) (3,512)
Cash and cash equivalents, beginning of the period 34,690 22,261
Cash and cash equivalents, end of the period 20,472 18,749
Cash paid during the six months ended June 30:    
Interest 720 722
Supplemental disclosure of noncash activities    
Purchases of Property & equipment within accounts payable, accrued expenses and other liabilities $ 78 $ 23