v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss $ (85,403) $ (276,126)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 27,001 45,386
Depreciation and amortization expense 5,051 4,829
Accretion of liability related to sale of future revenues 4,109 4,792
Non-cash operating lease expense 12,126 11,795
Amortization (accretion) of investment premiums (240) 792
Other non-cash items, net (402) 214
Changes in operating assets and liabilities:    
Accounts receivable 32,626 6,113
Inventories (4,434) (8,120)
Other current assets (1,227) 273
Other assets 19 1,043
Accounts payable 687 (3,130)
Accrued compensation (4,930) (6,140)
Accrued research and development expenses (9,380) (3,663)
Other current liabilities (12,504) 11,064
Deferred revenue (20,303) 30,395
Operating lease liabilities (11,051) (12,636)
Other long-term liabilities (462) 142
Net cash used in operating activities (68,717) (192,977)
Investing activities    
Purchases of short-term investments (19,665) (83,648)
Proceeds from maturities and sales of short-term investments 28,535 208,712
Purchases of property and equipment (246) (1,223)
Proceeds from sale of property and equipment 0 25
Net cash provided by (used in) investing activities 8,624 123,866
Financing activities    
Proceeds from sale of common stock and pre-funded warrants in registered direct offerings, net 50,603 0
Proceeds from issuance of common stock through ATM facilities, net 9,348 2,136
Proceeds from employee stock awards 230 928
Taxes paid related to net share settlement of restricted stock units 0 (94)
Principal payments on finance lease obligations (892) (947)
Other financing activities, net (7) (13)
Net cash provided by financing activities 59,282 2,010
Increase (decrease) in cash, cash equivalents and restricted cash (811) (67,101)
Cash, cash equivalents and restricted cash at beginning of period 25,987 93,088
Cash, cash equivalents and restricted cash at end of period 25,176 25,987
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 0 132
Accrued costs related to ATM facilities 0 78
Proceeds from issuance of common stock through ATM facilities not yet received 0 114
Supplemental cash flow disclosure    
Cash paid for interest 685 447
Cash paid for income taxes $ 24 $ 2

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