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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (143,045) $ (138,626)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 23,879 14,544
Depreciation and amortization 1,341 1,230
Non-cash interest expense and amortization of debt issuance costs 9,342 2,190
Non-cash rent expense 294 (198)
Loss on RareStone equity investment   1,040
Change in fair value of embedded derivative liability (150)  
Acquired IPR&D assets classified as investing activities 5,667  
Changes in operating assets and liabilities:    
Accounts receivable (8,317) (2,303)
Inventory (4,845) (1,575)
Prepaid expenses and other current assets (2,367) 2,806
Deferred revenue (148) 474
Other long-term assets 1,660 (4,841)
Accounts payable, accrued expenses and other liabilities 9,915 (14,169)
Net cash used in operating activities (106,774) (139,428)
Investing activities    
Purchases of short-term investments, net (314,265) (151,521)
Maturities of short-term investments 291,675 224,607
Acquisition of IPR&D assets, including transaction costs (5,667)  
Payment of milestone obligation under license agreement   (4,000)
Purchases of property and equipment (48) (282)
Net cash (used in) provided by investing activities (28,305) 68,804
Financing activities    
Net proceeds from issuance of common stock 48,875 116,974
Proceeds from the exercise of stock options 2,471 3,863
Proceeds from issuance of common stock from ESPP 1,053 626
Repayment of deferred royalty obligation (4,824)  
Proceeds from royalty financing agreement, net of issuance costs 24,370 75,000
Net cash provided by financing activities 71,945 196,463
Effect of exchange rates on cash 50  
Net (decrease) increase in cash, cash equivalents and restricted cash (63,084) 125,839
Cash, cash equivalents and restricted cash at beginning of period 128,005 59,576
Cash, cash equivalents and restricted cash at end of period $ 64,921 185,415
Supplemental disclosures:    
Deferred financing costs in accrued expenses   $ 957