XML 20 R6.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net loss $ (60,223) $ (42,972)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 1,233 1,004
Non-cash lease expense 1,254 1,953
Stock-based compensation 23,775 18,385
Non-cash interest expense 4,425 3,411
Non-cash royalty revenue related to the sale of future royalties (2,406) (967)
Other, net (2,083) (2,483)
Changes in operating assets and liabilities    
Accounts receivable (4,848) (15,210)
Inventory (32,075) (33,945)
Prepaid commercial manufacturing 3,638 8,363
Prepaid expenses and other assets (5,917) (4,626)
Accounts payable 5,685 (257)
Accrued compensation and benefits (3,126) (2,139)
Operating lease liabilities (1,268) (2,200)
Accrued and other liabilities 7,480 11,947
Deferred revenue 657 4,616
Net cash used in operating activities (63,799) (55,120)
Investing activities    
Proceeds from maturities and redemptions of investments 93,110 78,112
Purchases of investments (54,361) (56,870)
Purchases of property and equipment (975) (281)
Net cash provided by investing activities 37,774 20,961
Financing activities    
Proceeds from 2022 Loan Agreement, net of costs 48,668 49,750
Proceeds from issuance of common stock under equity incentive and stock purchase plans 2,470 4,829
Net cash provided by financing activities 51,138 54,579
Net increase in cash and cash equivalents 25,113 20,420
Cash and cash equivalents at beginning of period 64,932 21,470
Cash and cash equivalents at end of period 90,045 41,890
Supplementary disclosure of cash flow information    
Cash paid for interest 6,280 4,034
Cash paid for income taxes 440 272
Supplementary disclosure of non-cash activities    
Right-of-use assets obtained in exchange for lease obligations 3,880 689
Issuance of common stock for services $ 315 $ 257