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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (105,511) $ (46,049)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 14,906 5,954
Income tax expense 15,374 0
Depreciation and amortization expense 6,389 1,006
Inventory obsolescence 5,746 0
Non-cash interest expense 2,089 0
Fair value adjustment related to derivative and warrant liability and CVR liability (2,057) 98
Amortization (accretion) on investments (890) 0
Fair value adjustment related to investments 18 (613)
Loss on sublease and disposal of property and equipment 218 157
Consulting fees paid in common stock 474 227
Gain on foreign currency exchange rates 219 (198)
Change in assets and liabilities:    
Accounts and other receivables 6,868 (9,078)
Prepaid expenses and other current assets (2,228) 152
Inventories (8,874) 206
Operating lease right-of-use assets 552 326
Other long-term assets 0 (5)
Accounts payable and accrued expenses (3,598) 11,130
Discount and rebate liabilities 431 3,231
Operating lease liabilities (626) (439)
Other liabilities 835 360
Net cash used in operating activities (69,665) (33,535)
Cash flows from investing activities:    
Acquisitions, net 0 (30,401)
Purchases of property and equipment 0 (296)
Payment of royalty to XOMA (6,000) 0
Purchases of investments (41,161) (45,814)
Maturities of investments 25,000 59,121
Net cash used in investing activities (22,161) (17,390)
Cash flows from financing activities:    
Proceeds from issuance of debt 58,990 42,431
Proceeds from insurance financing arrangements 1,082 1,256
Proceeds from Employee Stock Purchase Plan 1,058 218
Proceeds from stock issuance 64,516 6,106
Proceeds from issuance of common stock for options exercised 1,684 0
Payments of principal on insurance financing arrangements (431) (564)
Repayment of debt (42,700) (17,531)
Payment to repurchase shares as part of the Share Repurchase Program 0 (3,447)
Payment of deferred financing costs (2,091) 0
Repayment of principal on finance lease liabilities 0 (5)
Net cash provided by financing activities 82,108 28,464
Effect of exchange rate changes on cash and cash equivalents 454 44
Net decrease in cash and cash equivalents (9,264) (22,417)
Cash and cash equivalents, beginning of period 43,049 65,466
Cash and cash equivalents, end of period 33,785 43,049
Supplemental cash flow information:    
Cash paid for interest 5,262 456
Right-of-use assets obtained in exchange for lease liabilities 0 0
Supplemental disclosure of noncash investing activities:    
Issuance of common stock in connection with the Merger (Note T) 0 (28,390)
Issuance of secured promissory note for the Merger (Note T) 0 (5,066)
Issuance of contingent value rights for the Merger (Note T) $ 0 $ (8,562)