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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net loss $ (26,567) $ (38,050)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 764 795
Amortization of intangible asset 18,021 18,021
Change in fair value of warrant liability (2,201) 0
Non-cash royalty revenue related to sale of future royalties (865) (936)
Non-cash research and development expense 0 782
Non-cash interest expense 229 983
Non-cash operating lease expense 2,056 (955)
Non-cash write-off from termination of lease 0 (825)
Non-cash loss on extinguishment of debt 294 0
Write-down of inventory 1,061 612
Change in excess inventory purchase commitments 2,068 0
Stock-based compensation expense 4,432 5,979
Changes in operating assets and liabilities:    
Accounts receivable 9,525 20,712
Inventory (19,360) 10,828
Prepaid expenses and other current assets 1,282 7,684
Other long-term assets 452 (5,876)
Accounts payable (726) (12,058)
Accrued expense and other current liabilities (14,526) (19,382)
Operating lease liabilities (1,959) 1,034
Deferred revenue 0 (3,738)
Other long-term liabilities (3,478) 481
Net cash used in operating activities (29,498) (13,909)
Investing Activities:    
Purchases of equipment (29) 0
Net cash used in investing activities (29) 0
Financing Activities:    
Proceeds from the issuance of debt 45,000 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 155 0
Repayment of term debt (37,100) (24,000)
Net cash provided by (used in) financing activities 26,115 (23,966)
Decrease in cash, cash equivalents and restricted cash (3,412) (37,875)
Cash, cash equivalents and restricted cash — beginning of period 44,579 93,169
Cash, cash equivalents and restricted cash — end of period 41,167 55,294
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