v3.25.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net loss $ (144,324) $ (155,018)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,700 5,350
Accretion of discount on marketable securities (2,904) (8,180)
Stock-based compensation 12,353 18,772
Non-cash lease expenses 4,336 3,788
Realized gain on sale of equity securities 0 (32,139)
Non-cash interest expense on deferred royalty obligation 28,661 22,380
Other 460 610
Changes in operating assets and liabilities:    
Accounts receivable 4,694 29,423
Prepaid expenses and other assets 14,374 (4,629)
Accounts payable (3,043) (3,415)
Accrued compensation 343 (1,509)
Accrued expenses and other liabilities 3,631 (6,610)
Deferred revenue (69,584) 16,085
Change in operating lease liability (5,493) (4,710)
Net cash used in operating activities (150,796) (119,802)
Investing activities    
Purchases of marketable securities (260,911) (335,490)
Maturities of marketable securities 251,266 360,697
Sales of marketable securities 37,467 33,796
Proceed from sale of equity securities 0 74,047
Purchases of equipment and leasehold improvements (1,511) (2,030)
Net cash provided by investing activities 26,311 131,020
Financing activities    
Proceeds from sales of common stock, net of issuance costs 0 71,527
Proceeds from sales of common stock to Ipsen Biopharmaceuticals, Inc. (USA) 0 25,000
Payment of debt 0 (4,083)
Proceeds from exercise of common stock options 1 271
Taxes paid related to net shares settlement of restricted stock units (265) (485)
Proceeds from employee stock purchase plan 372 1,848
Net cash provided by financing activities 108 94,078
Net (decrease) increase in cash, cash equivalents and restricted cash (124,377) 105,296
Cash, cash equivalents and restricted cash at beginning of period 191,162 70,140
Cash, cash equivalents and restricted cash at end of period 66,785 175,436
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 63
Income tax paid 11 15,166
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable and accrued expense 70 676
Financing component associated with program fees 2,654 5,186
Premium on common stock issued to Ipsen Biopharma, Inc. (USA) $ 0 $ 429

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