v3.25.0.1
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 190,304 $ 69,268
Marketable securities 126,591 264,413
Investment in equity securities   41,937
Accounts receivable 8,616 36,078
Prepaid expenses and other current assets 17,799 9,846
Total current assets 343,310 421,542
Property and equipment, net 18,190 21,940
Operating lease right-of-use assets 17,677 22,815
Other non-current assets 7,172 3,567
Restricted cash 858 872
Total assets 387,207 470,736
Current liabilities:    
Accounts payable 10,475 9,440
Accrued compensation 12,905 14,686
Deferred revenue-current 69,783 20,666
Operating lease liability - current 7,480 6,420
Debt-current   4,061
Accrued expenses and other current liabilities 31,250 38,473
Total current liabilities 131,893 93,746
Deferred revenue, non-current 12,536 53,379
Operating lease liability - non-current 15,674 23,154
Deferred royalty obligation related to the sale of future royalties 180,809 149,114
Other non-current liabilities 1,694 1,694
Total liabilities 342,606 321,087
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, $0.001 par value - 10,000,000 shares authorized as of December 31, 2024 and 2023; no shares issued and outstanding as of December 31, 2024 and 2023
Common stock, $0.001 par value - 300,000,000 shares authorized as of December 31, 2024 and 2023; 82,526,430 and 61,009,829 shares issued and outstanding as of December 31, 2024 and 2023, respectively 83 61
Additional paid-in-capital 831,348 708,975
Accumulated other comprehensive income 39 21
Accumulated deficit (786,869) (559,408)
Total stockholders’ equity 44,601 149,649
Total Liabilities and Stockholders’ Equity $ 387,207 $ 470,736

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