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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 105,190 $ 104,713
Restricted cash 291 210
Short-term investments 189,902 216,137
Trade receivables 93,394 79,069
Inventory, net 6,873 8,087
Prepaid expenses and other current assets 14,327 13,752
Total current assets 409,977 421,968
Long-term inventory, net 25,097 23,187
Property and equipment, net 7,593 7,777
Long-term investments 20,548 20,323
Right of use assets 11,982 12,008
Other assets 4,850 5,157
Total assets 480,047 490,420
Current liabilities:    
Accounts payable 10,049 11,644
Accrued expenses 92,635 113,292
Operating lease liabilities 1,071 937
Finance lease liabilities 1,795 1,835
Royalty financing obligations 34,305 32,676
Total current liabilities 139,855 160,384
Operating lease liabilities 7,779 7,924
Finance lease liabilities 2,314 2,124
Royalty financing obligations 466,613 481,053
Secured term loan 315,413 314,869
Total liabilities 931,974 966,354
Stockholders’ deficit:    
Preferred stock, $0.01 par value; shares authorized - 5,000; no shares issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; shares authorized - 450,000; shares issued and outstanding – 209,208 at March 31, 2025 and 208,543 at December 31, 2024 2,092 2,085
Additional paid-in capital 1,314,857 1,291,100
Accumulated other comprehensive income 1,132 921
Accumulated deficit (1,770,008) (1,770,040)
Total stockholders’ deficit (451,927) (475,934)
Total liabilities and stockholders’ deficit $ 480,047 $ 490,420