v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 127,584 $ (79,946)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock-based compensation 19,587 14,368
Depreciation and amortization 897 732
Non-cash lease expense (116) 112
Accretion and non-cash interest expense 12,790 10,327
Acquired in-process research and development 1,000  
Changes in operating assets and liabilities:    
Accounts receivable, net (54,491) (7,249)
Inventory (12,061) (5,980)
Prepaid expenses and other current assets (3,940) (83)
Other noncurrent assets (7,048) (11,502)
Accounts payable (589) 5,364
Accrued expenses and other current liabilities 48,502 3,863
Operating lease liabilities 205 (166)
Other noncurrent liabilities 914  
Net cash provided by (used in) operating activities 133,234 (70,160)
Investing activities    
Purchase of in-process research and development (1,000)  
Purchases of property, plant and equipment (14,065) (1,387)
Net cash used in investing activities (15,065) (1,387)
Financing activities    
Proceeds from long-term debt, net of fees 0 74,975
Payments on long-term debt (28,026) (4,976)
Principal payments on finance leases 0 (64)
Receipts from litigation financing 163 670
Proceeds from issuance of common stock under stock incentive plans 3,195 1,389
Net cash provided by (used in) financing activities (24,668) 71,994
Net increase in cash, cash equivalents, and restricted cash 93,501 447
Cash, cash equivalents, and restricted cash, beginning of period 194,184 176,479
Cash, cash equivalents, and restricted cash, end of period 287,685 176,926
Supplemental disclosure of cash flow information    
Cash paid for income taxes 3,121  
Cash paid for operating lease liabilities 810 341
Non-cash increase in property, plant and equipment through accounts payable 9,504 469
Non-cash increase in indemnification asset through accounts payable $ 155 $ 824