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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 131,454 $ 1,323 $ 132,584 $ 2,010
Operating expenses:        
Cost of product revenues 426 144 562 243
Research and development 7,040 7,131 13,875 12,980
Selling, general and administrative 7,474 15,786 12,314 30,262
Total operating expenses 14,940 23,061 26,751 43,485
Income (loss) from operations 116,514 (21,738) 105,833 (41,475)
Other (income) expense:        
Amortization of debt issuance costs and discount 1,998 421 2,256 799
Interest income (737) (181) (1,325) (193)
Interest expense 1,249 1,231 2,695 2,291
Other income 0 0 0 (2)
Warrant liabilities fair value adjustment (8,214) (9,682) 13,459 (19,712)
Derivative liabilities fair value adjustment (42) (182) 364 (1,162)
Total other (income) expense (5,746) (8,393) 17,449 (17,979)
Income (loss) before taxes 122,260 (13,345) 88,384 (23,496)
Income tax benefit 0 0 0 (4,700)
Net income (loss) $ 122,260 $ (13,345) $ 88,384 $ (18,796)
Net income (loss) per share attributable to common stockholders - basic        
Net income (loss) per share - basic $ 2.56 $ (0.31) $ 1.85 $ (0.50)
Net income (loss) per share attributable to common stockholders - diluted        
Net income (loss) per share - diluted $ 2.46 $ (0.31) $ 1.82 $ (0.50)
Weighted average common shares outstanding – basic and diluted        
Basic 47,837,393 43,285,232 47,797,731 37,647,535
Diluted 49,923,361 43,285,232 49,166,251 37,647,535
Product Revenue, Net        
Revenue:        
Total revenue $ 468 $ 1,323 $ 1,598 $ 2,010
License agreement revenue        
Revenue:        
Total revenue $ 130,986 $ 0 $ 130,986 $ 0