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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 60,540 $ 62,476
Investments 3,204 46,236
Accounts receivable, net 26,178 30,766
Inventory 4,038 4,739
Prepaid expenses and other current assets 9,186 12,245
Total current assets 103,146 156,462
Property and equipment, net 104 400
Operating lease right-of-use assets 4,548 5,884
Restricted cash 351 338
Other assets 267 1,334
Total assets 108,416 164,418
Current liabilities:    
Accounts payable 4,003 5,107
Accrued expenses 64,498 60,652
Convertible senior notes due 2025 0 24,426
Senior secured term loan 21,010 0
Operating lease liabilities 969 438
Other current liabilities 1,580 1,641
Total current liabilities 92,060 92,264
Convertible senior notes due 2029 89,973 68,345
Convertible senior notes due 2028 21,117 0
Senior secured term loan, net of current portion 94,795 94,603
Deferred royalty obligation 72,338 73,499
Common stock warrants 14,221 12,582
Operating lease liabilities, net of current portion 5,743 6,712
Other liabilities 11,095 2,430
Total liabilities 401,342 350,435
Stockholders' deficit    
Preferred stock, $0.0001 par value; 5,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.0001 par value; 53,333 shares authorized; 18,311 and 8,413 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 14 13
Additional paid-in capital 1,466,488 1,377,786
Accumulated other comprehensive income (loss) 71 (356)
Accumulated deficit (1,759,499) (1,563,460)
Total stockholders' deficit (292,926) (186,017)
Total liabilities and stockholders' deficit $ 108,416 $ 164,418