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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (48,481) $ (43,252)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,006 984
Accretion of premium/discount on marketable securities (1,954) (1,586)
Non-cash lease expense 364 139
Amortization of debt issuance costs 17  
Stock-based compensation expense 24,377 13,605
Change in fair value of contingent consideration 4,068 2,038
Other non-cash reconciling items 16 (2)
Change in operating assets and liabilities:    
Accounts receivable (24,624)  
Inventory (2,095)  
Prepaid expenses, other current assets and other assets (339) 380
Accounts payable (2,603) 567
Accrued compensation 1,491 (986)
Accrued clinical trial site costs 37 (1,530)
Operating lease liabilities (74) (107)
Other liabilities 3,434 (429)
Net cash used in operating activities (45,360) (30,179)
Cash flows from investing activities:    
Purchases of property and equipment (14) (19)
Purchases of marketable securities (104,764) (261,146)
Maturities of marketable securities 119,800 25,000
Net cash provided by (used in) investing activities 15,022 (236,165)
Cash flows from financing activities:    
Payment of debt issuance costs (62)  
Payment of deferred financing costs (178)  
Proceeds from the sale of common stock, net of issuance costs   148,955
Proceeds from exercise of common stock warrants 5,187  
Proceeds from exercise of common stock and pre-funded stock warrants   3,543
Proceeds received prior to and for the issuance of common stock and pre-funded warrants   637
Proceeds from exercise of stock options 13,993 552
Tax withholding payments for net share-settled equity awards (33)  
Net cash provided by financing activities 18,907 153,687
Net decrease in cash and cash equivalents (11,431) (112,657)
Cash and cash equivalents, beginning of period 87,928 169,681
Cash and cash equivalents, end of period 76,497 $ 57,024
Supplemental disclosure of non-cash operating and financing information    
Cash paid for interest $ 2,060