v3.26.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (61,848) $ (200,099)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 344 505
Stock-based compensation 18,167 23,109
Accrued payment-in-kind interest on debt 712 3,479
Accrued interest on revenue interest financing liability, net of payments 10,122 20,290
Amortization of debt discount 2,709 2,205
Loss on extinguishment of debt 829 0
Inventory reserve 917 819
Other 4,081 4,340
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 7,131 7,638
Accounts receivable, net (29,473) (16,992)
Accounts payable and accrued expenses 41,233 6,530
Accrued interest (379) 53
Operating right-of-use assets and lease liabilities (3) 132
Inventory (9,631) (13,783)
Other long-term assets (649) 0
Net cash used in operating activities (15,738) (161,774)
Cash flows from investing activities    
Cash paid for property and equipment (215) (142)
Net cash used in investing activities (215) (142)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options 4,514 373
Proceeds from issuance of long-term debt, net of issuance costs 173,250 0
Repayment of long-term debt (229,047) 0
Net proceeds from underwritten public offering 121,974 0
Payment of employee tax obligations related to vesting of PSUs and RSUs (149) (564)
Net cash provided by (used in) financing activities 70,542 (191)
Net increase (decrease) in cash and cash equivalents and restricted cash 54,589 (162,107)
Cash and cash equivalents and restricted cash - beginning of period 132,833 300,125
Cash and cash equivalents and restricted cash - end of period 187,422 138,018
Supplemental disclosure of cash flow information    
Interest paid 13,716 15,938
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses 0 51
Settlement of ESPP liability in common stock 2,910 2,969
Settlement of 401(k) liability in common stock 4,961 5,258
Final interest payment fee $ 3,500 $ 0