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Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 81,834 $ 47,254
Marketable securities 239,274 255,090
Investment in equity securities 34,043 32,020
Accounts receivable 16,627 7,122
Prepaid expenses and other current assets 9,476 11,667
Total current assets 381,254 353,153
Property and equipment, net 22,344 24,621
Operating lease right-of-use assets 23,996 26,443
Other non-current assets 3,268 1,855
Restricted cash 872 872
Total assets 431,734 406,944
Current liabilities:    
Accounts payable 5,525 4,797
Accrued compensation 11,369 13,142
Deferred revenue—current 23,983 16,759
Operating lease liability - current 6,174 4,585
Debt—current 7,137 12,500
Accrued expenses and other current liabilities 19,418 14,764
Total current liabilities 73,606 66,547
Deferred revenue - non-current 78,154 89,885
Operating lease liability - non-current 24,864 29,574
Debt—non-current   3,771
Deferred royalty obligation related to the sale of future royalties 142,763  
Other non-current liabilities   119
Total liabilities 319,387 189,896
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, $0.001 par value - 10,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022
Common stock, $0.001 par value - 300,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 60,900,704 and 57,499,541 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 61 58
Additional paid-in-capital 702,752 670,223
Accumulated other comprehensive income (loss) 7 (618)
Accumulated deficit (590,473) (452,615)
Total stockholders’ equity 112,347 217,048
Total Liabilities and Stockholders’ Equity $ 431,734 $ 406,944