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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (174,572) $ (184,127) $ (141,901)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 546 442 288
Accretion and amortization on investments, net (9,683) (11,150) (965)
Amortization of debt issuance costs/debt discount (3,108) 1,088 1,327
Payment on royalty agreement (2,186)    
Non-cash interest expense on liabilities for sales of future royalities 5,345    
Loss of extinguishment of debt 1,707    
Stock-based compensation for services by non-employees 135 828 264
Stock-based compensation for employees and directors 31,185 18,526 8,001
Amortization of right-of-use assets 675 591 580
Increase in allowance for doubtful accounts (251)    
Changes in assets and liabilities:      
Inventory (37,971)    
Accounts receivable, net (35,695)    
Interest and other receivables (1,198) 1,490 (1,381)
Prepaid expenses and other assets (175) (886) (2,630)
Deposit and other assets 618 692 (594)
Accounts payable 2,435 (4,029) 3,503
Accrued compensation and benefits 9,049 2,224 3,435
Accrued liabilities (4,759) 7,208 3,266
Operating lease liabilities (715) (640) (572)
Net cash used in operating activities (218,618) (167,743) (127,379)
Cash flows from investing activities:      
Purchases of property and equipment (680) (830) (431)
Purchases of marketable securities (476,932) (475,594) (258,007)
Proceeds from maturities of marketable securities 371,608 296,102 320,505
Net cash provided by (used in) investing activities (106,004) (180,322) 62,067
Cash flows from financing activities:      
Proceeds from issuances of common stock from equity plans 32,683 13,072 2,185
Proceeds from issuance of common stock and warrants in public offering, net of paid issuance costs 140,729 213,337 69,916
Proceeds from exercise of warrants 1,394 105,912 15,163
Proceeds from sale of future royalties 125,000    
Proceeds from debt financing, net of paid debt issuance costs and debt discounts 121,120 29,700  
Repayment of debt (86,554)    
Net cash provided by financing activities 334,372 362,021 87,264
Net effect of unrealized gains and exchange rates on cash, cash equivalents and restricted cash (12) (27) 22
Net increase in cash, cash equivalents and restricted cash 9,738 13,929 21,974
Cash, cash equivalents and restricted cash at the beginning of the period 71,138 57,209 35,235
Cash, cash equivalents and restricted cash at the end of the period $ 80,876 $ 71,138 $ 57,209