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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (25,459) $ 39,067
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation expense 1,267 4,167
Depreciation and amortization expense 831 256
Gain on sale of non-financial asset 0 (105,000)
Non-cash lease expense 1,419 778
Accretion of debt discount 437 461
Change in fair value of warrant liability (13,472) (6,460)
Other 196 (281)
Changes in operating assets and liabilities:    
Accounts receivable (75) 0
Inventory (353) (831)
Prepaid expenses, other current and non-current assets and research and development incentive receivable 441 1,398
Accounts payable (967) (944)
Accrued expenses and other long-term liabilities (7,555) 4,001
Deferred revenue 1,581 0
Lease liabilities (560) (486)
Net cash used in operating activities (42,269) (63,874)
Cash flows from investing activities:    
Acquisition of intangible asset (3,000) (7,000)
Proceeds from sale of non-financial asset 0 105,000
Purchase of marketable securities (16,953) (13,267)
Sales and maturities of marketable securities 39,927 7,000
Acquisition of property and equipment 0 (193)
Net cash provided by investing activities 19,974 91,540
Cash flows from financing activities:    
Proceeds from issuance of shares of common stock under employee stock purchase plan 46 159
Proceed from borrowings under loan and security agreement 0 20,000
Proceeds from sale of shares of common stock, less issuance costs 5,585 0
Net cash provided by financing activities 5,631 20,159
Effect of exchange rate changes on cash, cash equivalents and restricted cash 211 (77)
Net decrease in cash, cash equivalents and restricted cash (16,453) 47,748
Cash, cash equivalents and restricted cash at beginning of period 56,475 100,248
Cash, cash equivalents and restricted cash at end of period 40,022 147,996
Acquisition of intangible assets included in accrued expenses $ 0 $ 3,500