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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 57,526 $ 34,522
Marketable securities 177,161 240,736
Accounts receivable (net of allowance of $4,587 as of December 31, 2023) 20,473 24,790
Prepaid expenses 9,067 14,520
Other current assets 13,774 20,403
Total current assets 278,001 334,971
Marketable securities 10,179 38,871
Accounts receivable 474 701
Property and equipment, net 117,589 132,103
Operating lease right-of-use assets 53,716 60,487
Restricted cash 2,030 2,030
Other assets 4,000 4,807
Total assets 465,989 573,970
Current liabilities    
Accounts payable 22,798 22,786
Accrued expenses and other current liabilities 38,070 49,703
Deferred revenue 115 148
Operating lease liabilities 7,902 7,068
Liability related to sale of future royalties 34,309 50,567
Total current liabilities 103,194 130,272
Operating lease liabilities 74,131 82,222
Liability related to sale of future royalties 25,378 43,485
Other liabilities 3,635 6,249
Total liabilities 206,338 262,228
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock; $0.0001 par value; 10,000 shares authorized, no shares issued and outstanding at December 31, 2024 and 2023
Common stock; $0.0001 par value; 100,000 shares authorized at December 31, 2024 and 2023; 49,549 and 44,046 shares issued and outstanding at December 31, 2024 and 2023, respectively 5 4
Additional paid-in capital 1,192,536 1,021,214
Accumulated other comprehensive loss (741) (4,429)
Accumulated deficit (932,149) (705,047)
Total stockholders’ equity 259,651 311,742
Total liabilities and stockholders’ equity $ 465,989 $ 573,970