v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income (loss) $ (4,145) $ 38,010
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation expense 749 4,209
Depreciation and amortization expense 29 1,795
Accretion of liability related to sale of future revenues 814 852
Amortization (accretion) of investment premiums (discounts) 0 259
Non-cash operating lease expense 185 3,950
Loss on impairment of lease right-of-use asset 0 4,130
Other non-cash items, net 49 770
Changes in operating assets and liabilities:    
Accounts receivable 1,253 (7,393)
Inventories 0 10,655
Other current assets (1,336) 4,535
Other assets (15) 8
Accounts payable 510 (2,983)
Accrued compensation (642) (1,990)
Accrued research and development expenses (41) (6,201)
Other current liabilities (166) 3,493
Deferred revenue (32) (79,109)
Operating lease liabilities (285) (3,238)
Other long-term liabilities 0 110
Net cash used in operating activities (3,073) (28,138)
Investing activities    
Proceeds from maturities and sales of short-term investments 0 17,199
Net cash provided by investing activities 0 17,199
Financing activities    
Proceeds from issuance of common stock through ATM facilities, net 2,951 0
Principal payments on finance lease obligations 0 (250)
Net cash provided by (used in) financing activities 2,951 (250)
Increase (decrease) in cash, cash equivalents and restricted cash (122) (11,189)
Cash, cash equivalents and restricted cash at beginning of period 8,482 25,176
Cash, cash equivalents and restricted cash at end of period 8,360 13,987
Non-cash financing activities    
Issuance of pre-funded warrants in connection with HCRx Amendment 1,672 0
Accrued costs related to ATM facility 36 0
Supplemental cash flow disclosure    
Cash paid for interest $ 105 $ 66

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