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 $ (122,957) $ (78,823)
Non-cash adjustments to reconcile net loss to net cash used operating activities:    
Stock-based compensation expense 19,818 10,669
Depreciation and amortization expense 813 559
Accretion on investments, net of amortization (1,640) (3,428)
Other non-cash items 2,331 2,252
Changes in operating assets and liabilities:    
Accounts receivable (21,469) (14,375)
Inventories (281) (13,232)
Prepaid expenses and other assets (3,238) (697)
Accounts payable and accrued liabilities 20,839 16,981
Contract liability (89) (240)
Net cash and cash equivalents used in operating activities (105,873) (80,334)
Cash flows from investing activities:    
Purchases of short-term investments, available-for-sale (34,621) (65,723)
Proceeds from maturities and sales of short-term investments, available-for-sale 103,984 143,500
Purchases of property and equipment 0 (142)
Net cash and cash equivalents provided by investing activities 69,363 77,635
Cash flows from financing activities:    
Proceeds from milestone obligations met and royalties earned under license agreements recognized as an increase to the financing liability 2,508 0
Proceeds from exercise of common stock options and issuance of common stock under the employee stock purchase plan 848 3,422
Net cash and cash equivalents provided by financing activities 3,356 3,422
Net (decrease) increase in cash and cash equivalents (33,154) 723
Cash and cash equivalents at beginning of period 41,317 50,817
Cash and cash equivalents at end of period 8,163 51,540
Supplemental cash flow information:    
Cash paid for interest 4,618 0
Noncash Investing and Financing Items [Abstract]    
Intangible assets included in accounts payable and accrued liabilities 0 5,860
Financing liability in accounts receivable $ 0 $ 2,576