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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 104,713 $ 110,643
Restricted cash 210 1,804
Short-term investments 216,137 278,344
Trade receivables 79,069 56,950
Inventory, net 8,087 28,683
Prepaid expenses and other current assets 13,752 19,542
Total current assets 421,968 495,966
Long-term inventory, net 23,187 0
Property and equipment, net 7,777 7,910
Long-term investments 20,323 0
Right of use assets 12,008 13,004
Other assets 5,157 80
Total assets 490,420 516,960
Current liabilities:    
Accounts payable 11,644 20,893
Accrued expenses 113,292 102,882
Operating lease liabilities 937 1,058
Finance lease liabilities 1,835 1,590
Royalty financing obligations 32,676 23,565
Total current liabilities 160,384 149,988
Operating lease liabilities 7,924 8,390
Finance lease liabilities 2,124 2,845
Royalty financing obligations 481,053 508,034
Secured term loan 314,869 303,231
Total liabilities 966,354 972,488
Stockholders’ deficit:    
Preferred stock, $0.01 par value; shares authorized - 5,000; no shares issued and outstanding at December 31, 2024 and 2023 0 0
Common stock, $0.01 par value; shares authorized - 450,000; shares issued and outstanding – 208,543 and 205,771 at December 31, 2024 and 2023, respectively 2,085 2,058
Additional paid-in capital 1,291,100 1,222,236
Accumulated other comprehensive income 921 1,337
Accumulated deficit (1,770,040) (1,681,159)
Total stockholders’ deficit (475,934) (455,528)
Total liabilities and stockholders’ deficit $ 490,420 $ 516,960