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Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 297,263 $ 381,393
Prepaid expenses and other current assets 20,866 13,194
Accounts receivable, net 38,797 1,637
Inventory 3,208 1,208
Total current assets 360,134 397,432
Property and equipment, net 1,476 2,146
Operating lease right-of-use assets 613 1,475
Restricted cash 2,862 2,863
Inventory, non-current 11,540 8,234
Other long-term assets 1,693 1,692
Total assets 378,318 413,842
Current liabilities:    
Accounts payable 10,507 12,601
Accrued expenses 53,232 17,197
Accrued interest 1,711 1,146
Operating lease liabilities, current 501 726
Current portion of revenue interest financing liability 19,777 7,111
Total current liabilities 85,728 38,781
Long-term debt, net of discount 201,409 137,842
Revenue interest financing liability 333,261 299,816
Operating lease liabilities 0 462
Other long-term liabilities 11,500 9,700
Total liabilities 631,898 486,601
Commitments and contingencies (Note 3)
Stockholders' deficit:    
Preferred stock, $0.0001 par value; authorized shares 40,000,000 at December 31, 2024 and December 31, 2023; no shares issued and outstanding at December 31, 2024 and December 31, 2023
Common stock, $0.0001 par value; authorized shares 400,000,000 at December 31, 2024 and December 31, 2023; issued and outstanding shares 68,518,238 and 57,970,044 at December 31, 2024 and December 31, 2023, respectively 6 5
Treasury stock 19 shares at December 31, 2024 and December 31, 2023 0 0
Additional paid-in capital 1,009,425 855,921
Accumulated deficit (1,263,011) (928,685)
Total stockholders' deficit (253,580) (72,759)
Total liabilities and stockholders' deficit $ 378,318 $ 413,842