v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (158,544) $ (129,974)
Non-cash adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 27,940 16,358
Depreciation and amortization expense 1,228 950
Accretion on investments, net of amortization (2,070) (4,520)
Other non-cash items 2,503 2,434
Changes in operating assets and liabilities:    
Accounts receivable (27,363) (28,382)
Inventories (2,564) (12,269)
Prepaid expenses and other assets (2,599) 372
Accounts payable and accrued liabilities 22,064 27,945
Contract liability (181) (295)
Net cash and cash equivalents used in operating activities (139,586) (127,381)
Cash flows from investing activities:    
Purchases of short-term investments, available-for-sale (67,681) (193,147)
Proceeds from maturities and sales of short-term investments, available-for-sale 160,458 232,000
Payments of milestone obligations under license agreements 0 (5,860)
Purchases of property and equipment 0 (339)
Net cash and cash equivalents provided by investing activities 92,777 32,654
Cash flows from financing activities:    
Proceeds from term loan, net of issuance costs 24,973 96,989
Proceeds from milestone obligations met and royalties earned under license agreements recognized as an increase to the financing liability 2,735 2,577
Proceeds from exercise of common stock options and issuance of common stock under the employee stock purchase plan 3,405 3,901
Net cash and cash equivalents provided by financing activities 31,113 103,467
Net (decrease) increase in cash and cash equivalents (15,696) 8,740
Cash and cash equivalents at beginning of period 41,317 50,817
Cash and cash equivalents at end of period 25,621 59,557
Supplemental cash flow information:    
Cash paid for interest 7,011 0
Non-cash investing and financing activities:    
Intangible assets included in accounts payable and accrued liabilities $ 0 $ 2,000