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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net loss $ (17,985) $ (26,876)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 364 398
Amortization of intangible asset 9,011 9,011
Change in fair value of warrant liability 129 0
Non-cash royalty revenue related to sale of future royalties (391) (425)
Non-cash research and development expense 0 782
Non-cash interest expense 326 502
Non-cash operating lease expense 1,017 (578)
Non-cash loss on extinguishment of debt 294 0
Write-down of inventory 590 335
Stock-based compensation expense 2,360 2,489
Changes in operating assets and liabilities:    
Accounts receivable 12,670 21,553
Inventory (4,434) 7,347
Prepaid expenses and other current assets 1,412 7,378
Other long-term assets (613) (2,812)
Accounts payable (7,501) (9,013)
Accrued expense and other current liabilities (15,045) (25,115)
Operating lease liabilities (731) 651
Deferred revenue 695 (3,738)
Other long-term liabilities (1,600) 573
Net cash used in operating activities (19,432) (17,538)
Investing Activities:    
Net cash used in investing activities 0 0
Financing Activities:    
Proceeds from the issuance of debt 37,000 0
Payments of issuance costs related to BlackRock Credit Agreement (750) 0
Proceeds from issuance of common stock, net of issuance costs 18,740 0
Proceeds from issuance of stock under employee stock purchase plan 70 34
Proceeds from the exercise of stock options 141 0
Repayment of term debt (36,726) (16,000)
Net cash provided by (used in) financing activities 18,475 (15,966)
Decrease in cash, cash equivalents and restricted cash (957) (33,504)
Cash, cash equivalents and restricted cash — beginning of period 44,579 93,169
Cash, cash equivalents and restricted cash — end of period 43,622 59,665
Non-cash financing activities    
Issuance of warrants in connection with BlackRock Credit Agreement 4,846 0
Unpaid issuance costs related to BlackRock Credit Agreement $ 522 $ 0