XML 24 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net loss $ (61,192) $ (43,781)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 2,138 1,548
Non-cash lease expense 1,590 2,973
Stock-based compensation 36,517 27,518
Non-cash interest expense 6,877 5,420
Non-cash royalty revenue related to the sale of future royalties (7,195) (1,776)
Other, net (3,151) (3,577)
Changes in operating assets and liabilities    
Accounts receivable (18,905) (31,164)
Inventory (38,174) (35,671)
Prepaid commercial manufacturing 8,327 6,497
Prepaid expenses and other assets (5,771) (5,759)
Accounts payable 2,390 3,686
Accrued compensation and benefits 116 (1,056)
Operating lease liabilities (1,474) (3,388)
Accrued and other liabilities 12,111 19,695
Deferred revenue 2,362 4,216
Net cash used in operating activities (63,434) (54,619)
Investing activities    
Proceeds from maturities and redemptions of investments 156,456 120,354
Purchases of investments (168,060) (96,634)
Purchases of property and equipment (1,131) (418)
Net cash (used in) provided by investing activities (12,735) 23,302
Financing activities    
Proceeds from 2022 Loan Agreement, net of costs 48,668 49,750
Proceeds from issuance of common stock under equity incentive and stock purchase plans 5,284 7,526
Net cash provided by financing activities 53,952 57,276
Net (decrease) increase in cash and cash equivalents (22,217) 25,959
Cash and cash equivalents at beginning of period 64,932 21,470
Cash and cash equivalents at end of period 42,715 47,429
Supplementary disclosure of cash flow information    
Cash paid for interest 10,857 6,962
Cash paid for income taxes 491 272
Supplementary disclosure of non-cash activities    
Right-of-use assets obtained in exchange for lease obligations 4,362 1,010
Issuance of common stock for services $ 315 $ 257