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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 42,715 $ 64,932
Short-term investments 199,990 185,168
Accounts receivable 76,610 57,705
Inventory 25,172 21,173
Prepaid commercial manufacturing 8,051 16,378
Prepaid expenses and other current assets 15,447 11,096
Total current assets 367,985 356,452
Property and equipment, net 2,069 1,495
Inventory, non-current 104,186 70,011
Right-of-use assets 5,152 2,380
Other assets 6,778 5,416
Total assets 486,170 435,754
Current liabilities    
Accounts payable 18,390 16,000
Accrued compensation and benefits 15,056 14,940
Current portion of operating lease liability 1,435 1,562
Deferred revenue 6,581 10,686
Accrued expenses and other current liabilities 41,927 34,642
Total current liabilities 83,389 77,830
Operating lease liability, net of current portion 4,038 1,023
Long-term debt 202,138 150,853
Deferred revenue, non-current 13,699 7,232
Deferred royalty obligation related to the sale of future royalties 28,626 25,527
Total liabilities 331,890 262,465
Commitments and contingencies (Note 14)
Stockholders’ equity    
Common stock, $0.0001 par value; 500,000,000 shares authorized; 242,971,838 and 238,015,825 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 24 24
Additional paid-in capital 1,100,664 1,058,548
Accumulated deficit (946,532) (885,340)
Accumulated other comprehensive income 124 57
Total stockholders’ equity 154,280 173,289
Total liabilities and stockholders’ equity $ 486,170 $ 435,754