v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ (8,979) $ 40,397
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation expense 1,143 7,010
Depreciation and amortization expense 43 2,031
Accretion of liability related to sale of future revenues 987 1,809
Amortization (accretion) of investment premiums (discounts) (29) 258
Non-cash operating lease expense 376 4,413
Loss on impairment of lease right-of-use asset 0 4,130
Gain on derecognition of lease liabilities 0 (1,167)
Other non-cash items, net 100 547
Changes in operating assets and liabilities:    
Accounts receivable 935 1,482
Inventories 0 10,655
Other current assets (862) 6,211
Other assets 110 (4)
Accounts payable 697 (3,066)
Accrued compensation (572) (4,037)
Accrued research and development expenses (25) (7,013)
Other current liabilities 81 (1,438)
Deferred revenue 59 (93,485)
Operating lease liabilities (496) (4,190)
Other long-term liabilities 21 1
Net cash used in operating activities (6,411) (35,456)
Investing activities    
Purchases of short-term investments (6,626) (5,419)
Proceeds from maturities and sales of short-term investments 0 17,199
Proceeds from sale of property and equipment 0 349
Net cash (used in) provided by investing activities (6,626) 12,129
Financing activities    
Proceeds from issuance of common stock through ATM facilities, net 7,776 0
Proceeds from sale of pre-funded warrants to purchase common stock in an underwritten registered direct offering or registered direct offering, net 0 15,304
Proceeds from employee stock awards 0 1
Principal payments on finance lease obligations 0 (250)
Other financing activities, net 0 (1)
Net cash provided by financing activities 7,776 15,054
Increase (decrease) in cash, cash equivalents and restricted cash (5,261) (8,273)
Cash, cash equivalents and restricted cash at beginning of period 8,482 25,176
Cash, cash equivalents and restricted cash at end of period 3,221 16,903
Non-cash financing activities    
Issuance of pre-funded warrants in connection with HCRx Amendment 1,672 0
Accrued costs related to underwritten registered direct offering 0 461
Accrued costs related to ATM facility 103 0
Supplemental cash flow disclosure    
Cash paid for interest 229 118
Cash paid for income taxes $ 1 $ 3