v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 219,107 $ 261,338
Accounts receivable, net 28,035 29,117
Inventory 4,932 4,184
Prepaid expenses 5,380 5,612
Other current assets 4,253 6,084
Total current assets 261,707 306,335
Inventory, long-term 15,328 14,301
Operating lease right-of-use assets 1,101 1,297
Other long-term assets 1,243 1,217
Total assets 279,379 323,150
Current liabilities    
Accounts payable 12,761 9,175
Accrued expenses and other current liabilities 67,391 57,988
Senior secured term loans, current portion 6,180 3,000
Total current liabilities 86,332 70,163
Deferred royalty obligation, long-term 299,543 322,525
Senior secured term loans, long-term 110,437 112,452
Warrant obligations 4,159 0
Operating lease liabilities, long-term 946 1,034
Other long-term liabilities 6,167 2,810
Total liabilities 507,584 508,984
Commitments and contingencies (See Note 9)
Shareholders’ (deficit) equity    
Common shares, at CHF $0.08 par value Issued shares: 99,453,858 at June 30, 2024 and 89,041,946 December 31, 2023; outstanding shares: 96,469,641 at June 30, 2024 and 82,293,137 at December 31, 2023 11,254 11,080
Additional paid-in capital 1,447,034 1,439,749
Treasury shares (205) (205)
Accumulated other comprehensive loss (814) (517)
Accumulated deficit (1,685,474) (1,635,941)
Total shareholders’ (deficit) equity (228,205) (185,834)
Total liabilities and shareholders’ (deficit) equity $ 279,379 $ 323,150