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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 47,521 $ 60,081
Short-term investments 250,869 215,765
Accounts receivable, net 19,306 14,867
Inventory 13,895 8,624
Prepaid expenses and other current assets 8,750 8,931
Total current assets 340,341 308,268
Property and equipment, net 801 1,341
Right-of-use asset 3,588 781
Intangible assets, net 6,388 7,028
Restricted cash 462 328
Other long-term assets 11,992 14,999
Total assets 363,572 332,745
Current liabilities:    
Accounts payable 4,887 4,885
Accrued expenses and other current liabilities 54,797 48,262
Other current liability - LG Chem 36,635  
Deferred revenue 1,286 1,286
Lease liability   770
Total current liabilities 97,605 55,203
Long-term liabilities:    
Deferred royalty obligation 109,241 106,143
Lease liability, non-current 4,030 490
Derivative liability   1,150
Total liabilities 210,876 162,986
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 September 30, 2024 and December 31, 2023, respectively. Liquidation preference of $150,000 as of September 30, 2024. 141,481  
Stockholders' equity:    
Preferred stock, $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023
Common stock, $0.001 par value: 120,000,000 shares authorized; 61,436,251 and 59,426,559 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 61 59
Additional paid-in capital 1,123,768 1,064,302
Accumulated other comprehensive (loss) income (604) 134
Accumulated deficit (1,112,010) (894,736)
Total stockholders' equity 11,215 169,759
Total liabilities, convertible preferred stock and stockholders' equity $ 363,572 $ 332,745