v3.26.3
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 184,558 $ 129,972
Prepaid expenses and other current assets 8,222 15,353
Accounts receivable, net 107,602 78,129
Inventory 7,632 5,518
Total current assets 308,014 228,972
Property and equipment, net 935 1,064
Operating lease right-of-use assets 2,310 2,603
Restricted cash 2,864 2,861
Inventory, non-current 27,331 20,732
Other long-term assets 3,566 2,917
Total assets 345,020 259,149
Current liabilities:    
Accounts payable 11,109 4,983
Accrued expenses 121,147 89,831
Accrued interest 1,453 1,833
Operating lease liabilities, current 673 648
Current portion of revenue interest financing liability 40,520 27,249
Other current liabilities   7,500
Total current liabilities 174,902 132,044
Long-term debt, net of discount 165,540 209,087
Revenue interest financing liability 346,973 350,122
Operating lease liabilities 1,744 2,065
Other long-term liabilities 3,500 4,000
Total liabilities 692,659 697,318
Commitments and contingencies (Note 3)
Stockholders' deficit:    
Preferred stock, $0.0001 par value; authorized shares - 40,000,000 at September 30, 2026 and December 31, 2025; no shares issued and outstanding at September 30, 2026 and December 31, 2025
Common stock, $0.0001 par value; authorized shares - 400,000,000 at September 30, 2026 and December 31, 2025; issued and outstanding shares - 81,222,933 and 71,419,025 at September 30, 2026 and December 31, 2025, respectively 8 6
Treasury stock - 19 shares at September 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 1,198,459 1,046,083
Accumulated deficit (1,546,106) (1,484,258)
Total stockholders' deficit (347,639) (438,169)
Total liabilities and stockholders' deficit $ 345,020 $ 259,149