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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (48,832) $ (160,276) $ (137,464)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,681 1,766 1,493
Amortization of debt discount and debt issuance costs 0 2,796 6,052
Changes in deferred taxes 0 0 26,025
Share-based compensation expense 20,387 15,811 7,013
Loss on extinguishment of debt 0 13,129 0
Other adjustments (828) 1,262 2,042
Net changes in assets and liabilities      
Accounts receivable (21,994) (12,103) 0
Inventories (9,219) (9,532) 0
Prepaid expenses and other current assets 416 (2,155) 30,950
Accounts payable & other current liabilities (4,093) 1,545 (3,108)
Accrued expenses 16,424 16,892 227
Other assets and liabilities (1,849) 2,354 (3,534)
Net cash used in operating activities (46,907) (128,511) (70,304)
Cash flows from investing activities:      
Purchases of property and equipment 0 0 (716)
Proceeds from sales of marketable securities 327,781 187,136 83,828
Purchases of marketable securities (276,001) (237,229) (3,414)
Net cash provided by (used in) investing activities 51,780 (50,093) 79,698
Cash flows from financing activities:      
Proceeds from stock option exercises and employee share purchase plan 6,720 2,293 2,682
Payments for debt issuance costs 0 (4,357) (4,804)
Proceeds from royalty purchase agreement 0 30,000 0
Net cash provided by financing activities 15,970 135,335 14,543
Effect of foreign currency exchange rate changes on cash and cash equivalents (639) 455 (664)
Net change in cash and cash equivalents 20,204 (42,814) 23,273
Cash and cash equivalents at January 1 31,167 73,981 50,708
Cash and cash equivalents at December 31 51,371 31,167 73,981
Supplemental disclosures of cash flow information:      
Interest paid 7,181 5,250 9,660
Income taxes refunded, net 0 0 (29,058)
February 2023 Notes      
Cash flows from financing activities:      
Payments for Notes 0 (17,500) (8,653)
October 2023 Notes      
Cash flows from financing activities:      
Payments for Notes 0 (21,165) 0
Public offering      
Cash flows from financing activities:      
Proceeds from issuance of shares, net of issue costs 0 134,151 0
At-the-market offering program      
Cash flows from financing activities:      
Proceeds from issuance of shares, net of issue costs $ 9,250 $ 11,913 $ 25,318