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Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 114,633 $ 144,761
Accounts receivable, net 81,294 80,142
Inventories, net 99,322 94,491
Prepaid clinical development costs 504 586
Prepaid Inventory Costs 18,210 13,863
Other prepaid and current assets 4,815 4,155
Total current assets 318,778 337,998
Property and equipment, net 228 254
Right of use operating lease assets 4,967 5,513
Intangible assets 56 56
Total assets 324,029 343,821
Current liabilities:    
Accounts payable 71,994 51,650
Convertible notes, net of issuance costs 54,670 54,575
Accrued clinical development costs 7,071 5,035
Accrued variable consideration 56,005 56,535
Other accrued liabilities 16,625 19,593
Royalty sale liability 57,237 47,586
Deferred revenue from collaborations 4,542 8,518
Operating lease liabilities 2,822 2,741
Total current liabilities 270,966 246,233
Convertible notes, net of issuance costs 96,871 96,745
Royalty sale liability 238,982 246,024
Long-term debt 141,449 140,971
Operating lease liabilities 1,972 2,570
Total liabilities 750,240 732,543
Commitments and contingencies (Note 5)
Stockholders’ deficit:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized and no shares issued or outstanding as of March 31, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 480,000,000 shares authorized as of March 31, 2025 and 480,000,000 shares authorized as of December 31, 2024; 198,654,569 shares issued at March 31, 2025 and 197,846,661 shares issued at December 31, 2024 197 196
Additional paid-in capital 1,270,074 1,267,109
Treasury stock, at cost; 1,994,198 shares at March 31, 2025 and December 31, 2024 (54,998) (54,998)
Accumulated deficit (1,641,484) (1,601,029)
Total stockholders’ deficit (426,211) (388,722)
Total liabilities and stockholders’ deficit $ 324,029 $ 343,821