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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 110,643 $ 304,767
Restricted cash 1,804 1,472
Investments 278,344 119,543
Trade receivables 56,950 50,599
Inventory, net 28,683 27,533
Prepaid expenses and other current assets 19,542 12,586
Total current assets 495,966 516,500
Property and equipment, net 7,910 8,617
Long-term investments 0 18,077
Other assets 13,084 6,806
Total assets 516,960 550,000
LIABILITIES AND STOCKHOLDERS’ DEFICIT    
Accounts payable 20,893 14,356
Accrued expenses 102,882 87,565
Deferred revenue 0 1,224
Operating lease liabilities 1,058 1,516
Finance lease liabilities 1,590 853
Royalty financing obligations 23,565 0
Total current liabilities 149,988 105,514
Operating lease liabilities 8,390 4,027
Finance lease liabilities 2,845 1,777
Royalty financing obligations 508,034 501,655
Secured term loan 303,231 231,624
Stockholders’ deficit:    
Preferred stock, $0.01 par value; shares authorized — 5,000; no shares outstanding at December 31, 2023 and 2022 0 0
Common stock, $0.01 par value; shares authorized — 450,000; shares issued and outstanding – 205,771 and 187,906 at December 31, 2023 and 2022, respectively 2,058 1,879
Additional paid-in capital 1,222,236 1,158,118
Accumulated other comprehensive income 1,337 26
Accumulated deficit (1,681,159) (1,454,620)
Total stockholders’ deficit (455,528) (294,597)
Total liabilities and stockholders’ deficit $ 516,960 $ 550,000