Composition of Other Balance Sheet Items

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Other Balance Sheet Items

The following details the composition of other balance sheet items (dollars in thousands for amounts in tables):

Inventories, Net


	March 31, 2025		December 31, 2024
	(unaudited)
Raw materials	$	8,664	$	11,127
Work in process	18,694		26,725
Finished goods	22,065		16,441
Total	$	49,423	$	54,293

Property and Equipment, Net


	March 31, 2025		December 31, 2024
	(unaudited)
Lab equipment and furniture	$	13,760	$	13,370
Leasehold improvements	14,023		14,023
Software	883		883
Computer equipment	1,112		1,112
	29,778		29,388
Less accumulated depreciation and amortization	(18,440)		(17,843)
Property and equipment, net	$	11,338	$	11,545

Depreciation and amortization expense on property and equipment was approximately $0.6 million for the three months ended March 31, 2025 and $0.6 million for the three months ended March 31, 2024, respectively.

Accounts Payable and Accrued Liabilities


	March 31, 2025		December 31, 2024
	(unaudited)
Accounts payable	$	7,072	$	4,587
Accrued compensation, benefits, & related accruals	17,596		21,225
Accrued sales & marketing	14,832		11,007
Accrued manufacturing expenses	11,067		11,652
Accrued R&D expenses	5,413		5,898
Operating lease liabilities, current portion (1)	5,937		6,889
Accrued royalties (2)	6,250		8,105
Other accrued expenses	8,724		6,989
Total	$	76,891	$	76,352

_______________________________

(1) Refer to Note 12, Leases.

(2) Refer to Note 15, Commitments and Contingencies.

Accrued Product Returns and Rebates


	March 31, 2025		December 31, 2024
	(unaudited)
Accrued product rebates	$	120,208	$	115,330
Accrued product returns	49,925		53,375
Total	$	170,133	$	168,705