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Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 86,061 $ 144,761
Accounts receivable, net 107,746 80,142
Inventories, net 114,466 94,491
Prepaid clinical development costs 4,170 586
Prepaid Inventory Costs 24,772 13,863
Other prepaid and current assets 5,380 4,155
Total current assets 342,595 337,998
Property and equipment, net 201 254
Right of use operating lease assets 4,233 5,513
Intangible assets 56 56
Total assets 347,085 343,821
Current liabilities:    
Accounts payable 74,704 51,650
Convertible notes, net of issuance costs 54,766 54,575
Accrued clinical development costs 1,209 5,035
Accrued variable consideration 61,299 56,535
Other accrued liabilities 15,455 19,593
Royalty sale liability 66,312 47,586
Deferred revenue from collaborations 22,313 8,518
Operating lease liabilities 2,738 2,741
Total current liabilities 298,796 246,233
Convertible notes, net of issuance costs 96,998 96,745
Royalty sale liability 229,600 246,024
Long-term debt 146,452 140,971
Operating lease liabilities 1,312 2,570
Other long-term liabilities 7,436 0
Total liabilities 780,594 732,543
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 June 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 480,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 202,149,464 shares issued at June 30, 2025 and 197,846,661 shares issued at December 31, 2024 200 196
Additional paid-in capital 1,275,498 1,267,109
Treasury stock, at cost; 1,994,198 shares at June 30, 2025 and December 31, 2024 (54,998) (54,998)
Accumulated deficit (1,654,209) (1,601,029)
Total stockholders’ deficit (433,509) (388,722)
Total liabilities and stockholders’ deficit $ 347,085 $ 343,821
Common stock, authorized (in shares) 480,000,000 480,000,000