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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net loss $ (22,682) $ (51,745) $ (209,248)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash loss on extinguishment of debt and exchange transaction 0 54,918 0
Non-cash royalty revenue (55,055) (26,077) 0
Paid-in-kind interest on long-term debt 9,093 0 0
Non-cash interest expense related to the revenue interest liability 0 21,569 46,679
Non-cash interest expense related to the royalty sale liability 57,211 24,657 0
Stock-based compensation expense 9,870 11,993 11,958
Depreciation expense 105 63 164
Accretion and amortization of premiums and discounts on investments 0 0 (412)
Amortization of debt issuance costs and discounts 3,007 1,498 1,697
Changes in assets and liabilities:      
Accounts receivable (60,048) (31,648) (14,765)
Prepaids and other assets (30,800) (13,904) 6,192
Deferred revenue 25,959 (16,884) 21,895
Inventories (10,633) (28,868) (30,422)
Accounts payable 20,918 12,432 8,678
Other accrued liabilities 31,223 18,342 22,097
Other long-term liabilities 8,739 0 0
Net cash used in operating activities (13,093) (23,654) (135,487)
Investing activities      
Proceeds from sales/maturities of investments 0 0 42,500
Purchases of property and equipment 0 (317) 0
Net cash (used in) provided by investing activities 0 (317) 42,500
Financing activities      
Proceeds from royalty sale liability 0 304,656 0
Payment of royalty sale liability issuance costs 0 (9,626) 0
Repurchase or principal payment of revenue interest liability 0 (343,750) 0
Payments on revenue interest liability 0 (5,832) (15,506)
Proceeds from credit agreement, net of issuance costs 0 145,376 0
Proceeds from issuance of convertible notes, net of issuance costs 0 99,726 0
Repayment of convertible notes (54,912) (210,088) 0
Proceeds from issuance of common stock, net of issuance costs 72,596 90,672 52,428
Proceeds from issuance of common stock from ATM Program, net of issuance costs 15,408 513 4,448
Proceeds from exercise of warrants 10,348 14,808 9,069
Payment of issuance costs (7,500) 0 0
Other financing activities 244 29 21
Net cash provided by financing activities 36,184 86,484 50,460
Net increase (decrease) in cash and cash equivalents 23,091 62,513 (42,527)
Cash, cash equivalents at beginning of period 144,761 82,248 124,775
Cash and cash equivalents at end of period 167,852 144,761 82,248
Supplemental disclosure of cash flow information:      
Issuance costs not yet paid 0 7,500 635
Purchase of property and equipment not yet paid 189 0 0
Non-cash right of use asset 37 98 115
Income taxes paid (refer to Note 17) 612 0 0
Cash paid for interest $ 16,266 $ 11,347 $ 10,600