XML 19 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (42,972) $ (43,894)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,004 639
Non-cash lease expense 1,953 1,821
Stock-based compensation 18,385 6,111
Non-cash interest expense 3,411 2,090
Non-cash royalty revenue related to the sale of future royalties (967) 0
Other, net (2,483) (521)
Changes in operating assets and liabilities:    
Accounts receivable (15,210) (1,376)
Inventory (33,945) (19,566)
Prepaid commercial manufacturing 8,363 401
Prepaid expenses and other assets (4,626) 817
Accounts payable (257) (5,565)
Accrued compensation and benefits (2,139) (668)
Operating lease liabilities (2,200) (1,892)
Accrued and other liabilities 11,947 110
Deferred revenue 4,616 1,961
Net cash used in operating activities (55,120) (59,532)
Investing activities    
Proceeds from maturities and redemptions of investments 78,112 19,250
Purchases of investments (56,870) (88,127)
Purchases of property and equipment (281) (107)
Net cash provided by (used in) investing activities 20,961 (68,984)
Financing activities    
Proceeds from 2022 Loan Agreement, net of issuance costs 49,750 0
Proceeds from issuance of common stock in at the market offering, net of issuance costs 0 62,085
Proceeds from issuance of common stock under equity incentive and stock purchase plans 4,829 349
Net cash provided by financing activities 54,579 62,434
Net increase (decrease) in cash and cash equivalents 20,420 (66,082)
Cash and cash equivalents at beginning of period 21,470 96,140
Cash and cash equivalents at end of period 41,890 30,058
Supplementary disclosure of cash flow information:    
Cash paid for interest 4,034 1,757
Cash paid for income taxes 272 19
Supplementary disclosure of non-cash activities:    
Right-of-use assets obtained in exchange for lease obligations 689 0
Issuance of common stock for services $ 257 $ 337