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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 161,669 $ 60,081
Short-term investments 157,461 215,765
Accounts receivable, net 17,598 14,867
Inventory 11,994 8,624
Prepaid expenses and other current assets 8,644 8,931
Total current assets 357,366 308,268
Property and equipment, net 973 1,341
Right-of-use asset 3,696 781
Intangible assets, net 6,601 7,028
Restricted cash 460 328
Other long-term assets 12,750 14,999
Total assets 381,846 332,745
Current liabilities:    
Accounts payable 4,543 4,885
Accrued expenses and other current liabilities 48,077 48,262
Deferred revenue 1,286 1,286
Lease liability 816 770
Total current liabilities 54,722 55,203
Long-term liabilities:    
Deferred royalty obligation 108,372 106,143
Lease liability, non-current 3,301 490
Derivative liability 360 1,150
Other long-term liabilities 35,596  
Total liabilities 202,351 162,986
Commitments and contingencies (Note 15)
Series A convertible preferred stock, $0.001 par value: 150,000 shares authorized; 150,000 and 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. Liquidation preference of $150,000 as of June 30, 2024. 140,152  
Stockholders' equity:    
Preferred Stock, $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023
Common stock, $0.001 par value: 120,000,000 shares authorized; 61,095,949 and 59,426,559 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 60 59
Additional paid-in capital 1,108,269 1,064,302
Accumulated other comprehensive (loss) income (617) 134
Accumulated deficit (1,068,369) (894,736)
Total stockholders' equity 39,343 169,759
Total liabilities, convertible preferred stock and stockholders' equity $ 381,846 $ 332,745