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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 30,808 $ 64,932
Short-term investments 183,144 185,168
Accounts receivable 46,467 57,705
Inventory 23,776 21,173
Prepaid commercial manufacturing 13,848 16,378
Prepaid expenses and other current assets 14,649 11,096
Total current assets 312,692 356,452
Property and equipment, net 1,665 1,495
Inventory, non-current 82,099 70,011
Prepaid commercial manufacturing, non-current 3,246 0
Right-of-use assets 3,670 2,380
Other assets 6,822 5,416
Total assets 410,194 435,754
Current liabilities    
Accounts payable 13,722 16,000
Accrued compensation and benefits 7,168 14,940
Current portion of operating lease liability 1,302 1,562
Deferred revenue 10,913 10,686
Accrued expenses and other current liabilities 42,735 34,642
Total current liabilities 75,840 77,830
Operating lease liability, net of current portion 2,505 1,023
Long-term debt 151,301 150,853
Deferred revenue, non-current 8,350 7,232
Deferred royalty obligation related to the sale of future royalties 26,522 25,527
Total liabilities 264,518 262,465
Commitments and contingencies
Stockholders’ equity    
Common stock, $0.0001 par value; 500,000,000 shares authorized; 239,201,256 and 238,015,825 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 24 24
Additional paid-in capital 1,072,118 1,058,548
Accumulated deficit (926,484) (885,340)
Accumulated other comprehensive income 18 57
Total stockholders’ equity 145,676 173,289
Total liabilities and stockholders’ equity $ 410,194 $ 435,754