XML 28 R3.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 184,844 $ 51,870
Inventories 15,610 16,243
Accounts receivable, net 47,031 34,368
Prepaid expenses and other current assets 5,470 11,350
Total current assets 252,955 113,831
Property and equipment, net 1,222 2,200
Operating right-of-use assets 3,663 8,218
Goodwill 59,044 59,044
Other long-term assets 59,681 37,377
Total assets 376,565 220,670
Current liabilities:    
Accounts payable 21,185 15,180
Accrued expenses and other current liabilities 121,716 63,460
Short-term deferred revenue 2,681 0
Working Capital Fund liability, current portion 17,356 2,274
Total current liabilities 162,938 80,914
Long-term operating lease liabilities 0 3,547
Long-term debt, net 48,250 38,693
Liability related to settlement royalties, net of current portion 54,750 46,697
Liability related to sale of future royalties, net of current portion 50,608 52,066
Working Capital Fund liability, net of current portion 22,606 38,013
Warrant liability 2,980 5,176
Other long-term liabilities 1,823 4,749
Total liabilities 343,955 269,855
Commitments and contingencies (Note 10)
Stockholders' equity (deficit):    
Preferred stock $0.00001 par value, 25,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and 2024 0 0
Common stock: $0.00001 par value; 350,000,000 shares authorized at December 31, 2025 and 2024; 265,424,818 and 224,848,992 shares issued and outstanding at December 31, 2025 and 2024, respectively 2 2
Additional paid-in capital 1,716,307 1,629,167
Accumulated other comprehensive income 6 6
Accumulated deficit (1,683,705) (1,678,360)
Total stockholders' equity (deficit) 32,610 (49,185)
Total liabilities and stockholders' equity (deficit) $ 376,565 $ 220,670