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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (58,884) $ (93,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,518 5,426
Loss on early extinguishment of 2026 convertible senior notes 2,968 0
Depreciation and amortization 489 412
Remeasurement on OMIDRIA royalty obligation (11,878) 1,806
Non-cash interest on OMIDRIA contract royalty asset (7,839) (8,614)
Remeasurement of OMIDRIA contract royalty asset 2,981 (6,653)
Remeasurement on fair value of financial instruments (8,142) 0
Accretion on U.S. government treasury bills, net 0 (3,412)
Changes in operating assets and liabilities:    
OMIDRIA contract royalty asset 15,251 20,283
Receivables 1,463 16
Prepaid expenses and other 315 1,890
Accounts payable and accrued expense 3,205 (5,664)
Net cash used in operating activities (57,779) (87,765)
Investing activities:    
Proceeds from the sale and maturities of investments 61,000 637,414
Purchases of investments (1,108) (626,051)
Purchases of property and equipment (54) (138)
Net cash provided by investing activities 59,838 11,225
Financing activities:    
Proceeds from issuance of common stock from the ATM facility, net 6,287 0
Proceeds upon exercise of stock options 88 35
Principal payments on OMIDRIA royalty obligation (6,701) (10,700)
Payment of debt issuance costs related to 2029 Notes (2,837) 0
Payments on finance lease obligations (392) (275)
Proceeds from sale of future royalties 0 115,525
Cash paid to repurchase 2026 convertible senior notes 0 (21,179)
Repurchases of common stock 0 (11,851)
Net cash provided by (used in) financing activities (3,555) 71,555
Net decrease in cash and cash equivalents (1,496) (4,985)
Cash and cash equivalents at beginning of period 3,400 7,105
Cash and cash equivalents at end of period 1,904 2,120
Supplemental cash flow information    
Cash paid for interest 18,697 7,152
Cash paid (received) for income taxes, net 182 (144)
Equipment acquired under finance lease 0 369
Conversion of the 2026 Notes Into 2029 Notes [Member]    
Supplemental cash flow information    
Exchange of Notes 70,785 0
Exchange of 2026 Notes for Share-based Liability [Member]    
Supplemental cash flow information    
Exchange of Notes 8,085 0
Conversion of the 2026 Notes Into Common Stock [Member]    
Supplemental cash flow information    
Exchange of Notes 1,915 0
Convertible Debt [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of discount and issuance costs on debt 988 569
Loans Payable [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of discount and issuance costs on debt $ (3,214) $ (599)