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Condensed Consolidated Financial Statement Details (Tables)
9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Other Current Assets

Other current assets consist of the following (in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Prepaid research and development expenses

 

$

7,500

 

 

$

1,947

 

Interest and other non-trade receivables

 

 

1,289

 

 

 

1,609

 

Other prepaid expenses

 

 

2,360

 

 

 

2,510

 

Total other current assets

 

$

11,149

 

 

$

6,066

 

Schedule of Accrued Expenses

Accrued expenses consist of the following (in thousands):

 

 

September 30, 2025

 

 

December 31, 2024

 

Accrued compensation

 

$

8,606

 

 

$

2,832

 

Accrued research and development expenses

 

 

12,084

 

 

 

14,453

 

Accrued contract termination costs

 

 

3,149

 

 

 

2,767

 

Other accrued expenses

 

 

4,755

 

 

 

9,920

 

Total accrued expenses

 

$

28,594

 

 

$

29,972

 

 

Schedule of Liability Related to Sale of Potential Future Royalties

The following is a reconciliation of the changes in our liabilities related to the sales of future royalties for the nine months ended September 30, 2025 (in thousands):

 

 

Nine Months Ended September 30, 2025

 

 

 

2012 Purchase and Sale Agreement

 

 

2020 Purchase and Sale Agreement

 

 

Total

 

Liabilities related to the sales of future royalties, net – beginning balance

 

$

7,197

 

 

$

84,579

 

 

$

91,776

 

Non-cash royalty revenue

 

 

(5,619

)

 

 

(27,506

)

 

 

(33,125

)

Non-cash interest expense

 

 

1,983

 

 

 

14,432

 

 

 

16,415

 

Amortization of transaction costs

 

 

 

 

 

98

 

 

 

98

 

Liabilities related to the sales of future royalties, net – ending balance

 

$

3,561

 

 

$

71,603

 

 

$

75,164