v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net loss $ (43,367) $ (75,950)
Adjustments to reconcile net loss to net cash used in operating activities:    
Royalty liability interest expense - related parties 18,596 17,045
Goodwill impairment 0 20,950
Depreciation and amortization 2,359 3,209
Stock-based compensation 3,055 4,477
Loss on disposal of assets, net 4 80
Change in fair value of liability classified Class A common stock warrants (41) (455)
Other (2) 49
Changes in operating assets and liabilities:    
Accounts receivable (335) 88
Prepaid expenses and other current assets 149 (44)
Accounts payable (907) 82
Accrued expenses (86) 3,998
Accrued compensation (463) (213)
Deferred revenue 88 (17)
Right-of-use assets and lease obligations, net (95) 1,141
Other assets and liabilities, net 151 129
Net cash used in operating activities (20,894) (25,431)
Investing activities    
Proceeds from sales of property, plant, and equipment 43 0
Purchases of property, plant, and equipment (73) (384)
Net cash used in investing activities (30) (384)
Financing activities    
Proceeds from issuances of securities 37,260 50,100
Costs paid related to issuances of securities (5,357) (1,951)
Payment of taxes related to restricted stock units withheld from employees (115) (39)
Repayments of notes payable (352) (279)
Net cash provided by financing activities 31,436 47,831
Effect of exchange rate changes on cash and cash equivalents (6) 14
Net increase in cash and cash equivalents 10,506 22,030
Cash and cash equivalents – beginning of period 9,923 14,433
Cash and cash equivalents – end of period $ 20,429 $ 36,463