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 $ (49,533) $ (95,248)
Adjustments to reconcile net loss to net cash used in operations:    
Share-based compensation expense 6,992 4,232
Accretion expense of deferred royalty obligation 14,203 13,948
Cumulative catch-up adjustment, deferred royalty obligation (6,401) (196)
Impairment of long-lived assets and prepaid expenses 0 6,414
Write-downs of inventory 1,644 1,636
Warrant obligations, decrease in fair value (16,594) 0
Amortization of debt discount, senior secured term loan 1,165 841
Other (322) 2,120
Changes in operating assets and liabilities:    
Accounts receivable, net 1,082 (5,868)
Inventory (3,276) (1,012)
Prepaid expenses and other current assets 2,256 7,050
Other long-term assets 0 (146)
Accounts payable 3,595 (8,680)
Accrued expenses and other current liabilities 635 (8,595)
Operating lease liabilities (358) (1,002)
Other long-term liabilities 3,395 4,085
Net cash used in operating activities (41,517) (80,421)
Cash flows from investing activities    
Payment for purchases of property and equipment (32) (264)
Net cash used in investing activities (32) (264)
Cash flows from financing activities    
Proceeds from the sale of common shares, net of transaction costs (20) 43,239
Proceeds from Pre-Funded Warrants, net of transaction costs 0 50,760
Proceeds from share issuance under stock purchase plan 0 271
Proceeds from the exercise of stock options 323 34
Taxes paid related to net settled equity awards (985) (250)
Net cash (used in)/ provided by financing activities (682) 94,054
Net increase (decrease) in cash and cash equivalents (42,231) 13,369
Exchange (losses)/gains on cash and cash equivalents 0 324
Cash and cash equivalents at beginning of period 261,338 250,867
Cash and cash equivalents at end of period 219,107 264,560
Supplemental cash flow information:    
Interest paid 6,839 7,218
Interest received 3,490 3,988
Payments made under royalty financing transaction 3,649 3,220
Supplemental non-cash investing and financing activities:    
Capitalized share-based compensation 145 0
Transaction costs recorded in accounts payable and other current liabilities and other long-term liabilities $ 817 $ 862