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v3.26.1

Balance Sheet Details (Tables) | 3 Months Ended
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Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis | The following table summarizes the financial assets measured at fair value on a recurring basis (in thousands):
|  | March 31, 2026
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash, cash equivalents and restricted cash |  | $ | 41,008 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,008 |
U.S. treasury bills |  | — |  |  | 250,546 |  |  | — |  |  | 250,546 |
U.S. treasury bonds |  | — |  |  | 82,625 |  |  | — |  |  | 82,625 |
Commercial paper |  | — |  |  | 4,604 |  |  | — |  |  | 4,604 |
Total |  | $ | 41,008 |  |  | $ | 337,775 |  |  | $ | — |  |  | $ | 378,783 |
|  | December 31, 2025
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash, cash equivalents and restricted cash |  | $ | 80,213 |  |  | $ | — |  |  | $ | — |  |  | $ | 80,213 |
U.S. treasury bills |  | — |  |  | 255,034 |  |  | — |  |  | 255,034 |
U.S. treasury bonds |  | — |  |  | 61,654 |  |  | — |  |  | 61,654 |
Commercial paper |  | — |  |  | 1,096 |  |  | — |  |  | 1,096 |
Total |  | $ | 80,213 |  |  | $ | 317,784 |  |  | $ | — |  |  | $ | 397,997 |
Schedule of Carrying Amount and Related Unrealized Gains (Losses) | The carrying amount and related unrealized gains (losses) by type of investment consisted of the following (in thousands):
|  | March 31, 2026
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Cash, cash equivalents and restricted cash |  | $ | 41,008 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,008 |
U.S. treasury bills |  | 250,678 |  |  | — |  |  | (132) |  |  | 250,546 |
U.S. treasury bonds |  | 82,656 |  |  | — |  |  | (31) |  |  | 82,625 |
Commercial paper |  | 4,604 |  |  | — |  |  | — |  |  | 4,604 |
Total cash, cash equivalents, restricted cash and short-term investments |  | $ | 378,946 |  |  | $ | — |  |  | $ | (163) |  |  | $ | 378,783 |
|  | December 31, 2025
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Cash, cash equivalents and restricted cash |  | $ | 80,213 |  |  | $ | — |  |  | $ | — |  |  | $ | 80,213 |
U.S. treasury bills |  | 254,875 |  |  | 159 |  |  | — |  |  | 255,034 |
U.S. treasury bonds |  | 61,608 |  |  | 46 |  |  | — |  |  | 61,654 |
Commercial paper |  | 1,096 |  |  | — |  |  | — |  |  | 1,096 |
Total cash, cash equivalents, restricted cash and short-term investments |  | $ | 397,792 |  |  | $ | 205 |  |  | $ | — |  |  | $ | 397,997 |
Schedule of Inventory, Net | Inventory consisted of the following (in thousands):
|  | March 31, 2026 |  | December 31, 2025
Raw materials |  | $ | 658 |  |  | $ | 658 |
Work in process |  | 41,418 |  |  | 44,653 |
Finished goods |  | 4,334 |  |  | 379 |
Total inventory |  | $ | 46,410 |  |  | $ | 45,690 |
Schedule of Prepaid Expenses and Deposits | Prepaid expenses and deposits consisted of the following (in thousands):
|  | March 31, 2026 |  | December 31, 2025
Prepaid manufacturing and other deposits |  | $ | 405 |  |  | $ | 1,742 |
Prepaid insurance |  | 355 |  |  | 878 |
Other prepaid expenses |  | 3,359 |  |  | 3,126 |
Total prepaid expenses and deposits |  | $ | 4,119 |  |  | $ | 5,746 |
Schedule of Intangible Assets, Net | Intangible assets, net consisted of the following (in thousands):
|  | March 31, 2026
|  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Acquired intellectual property and reacquired right |  | $ | 15,126 |  |  | $ | (12,532) |  |  | $ | 2,594 |
Patents |  | 2,419 |  |  | (1,423) |  |  | 996 |
Internal-use software implementation costs |  | 2,873 |  |  | (2,873) |  |  | — |
Total intangible assets, net |  | $ | 20,418 |  |  | $ | (16,828) |  |  | $ | 3,590 |
|  | December 31, 2025
|  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Acquired intellectual property and reacquired right |  | $ | 15,126 |  |  | $ | (12,334) |  |  | $ | 2,792 |
Patents |  | 2,380 |  |  | (1,411) |  |  | 969 |
Internal-use software implementation costs |  | 2,873 |  |  | (2,873) |  |  | — |
Total intangible assets, net |  | $ | 20,379 |  |  | $ | (16,618) |  |  | $ | 3,761 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands):
|  | March 31, 2026 |  | December 31, 2025
Leasehold improvements |  | $ | 3,243 |  |  | $ | 3,243 |
Furniture |  | 1,155 |  |  | 1,155 |
Office equipment |  | 631 |  |  | 631 |
Computer equipment |  | 235 |  |  | 235 |
Total gross property and equipment |  | 5,264 |  | 5,264
Less accumulated depreciation |  | (3,278) |  |  | (3,153) |
Property and equipment, net |  | $ | 1,986 |  |  | $ | 2,111 |
Schedule of Accrued Expenses | Accrued expenses consisted of the following (in thousands):
|  | March 31, 2026 |  | December 31, 2025
Accrued sales rebates and fees |  | $ | 33,977 |  |  | $ | 30,832 |
Accrued payroll and related expenses |  | 8,617 |  |  | 18,869 |
Accrued research and development expenses |  | 4,791 |  |  | 6,127 |
Accrued corporate and excise taxes |  | 1,543 |  |  | 2,010 |
Accrued sales and marketing expenses |  | 1,270 |  |  | 1,648 |
Accrued other expenses |  | 7,998 |  |  | 7,135 |
Total accrued expenses |  | $ | 58,196 |  |  | $ | 66,621 |

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