Quarterly report [Sections 13 or 15(d)]

Other Balance Sheet Components

v3.26.1
Other Balance Sheet Components
 3 Months Ended
Mar. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Other Balance Sheet Components Other Balance Sheet Components
Inventories
Inventories for the periods presented consist of the following (in thousands):
As of
March 31, 2026 December 31, 2025
Raw materials $ 3,427  $ 4,514 
Work in process 6,229  3,910 
Finished goods 4,097  4,712 
Total $ 13,753  $ 13,136 
Reported as:
Inventories $ 11,652  $ 11,506 
Other assets 2,101  1,630 
Total $ 13,753  $ 13,136 
Non-current inventories included within other assets in the condensed balance sheet consist primarily of active pharmaceutical ingredient (API) classified as raw materials which have multi-year shelf life, as well as certain work in process and finished goods inventories that are not expected to be consumed beyond our normal operating cycle.
Advance payments to our contract manufacturers to manufacture APIs as well as APIs pending final release for commercial usage are classified as prepaid inventory and included within prepaid and other current assets in the condensed balance sheet. See prepaid and other current assets below for related details.
Prepaid and other current assets
Prepaid and other current assets for the periods presented consist of the following (in thousands):
As of
March 31, 2026 December 31, 2025
Prepaid inventory $ 13,407  $ 11,849 
Prepaid research and development costs 5,204  4,886 
Others 7,135  5,207 
Total prepaid and other current assets $ 25,746  $ 21,942 
Intangible assets
Intangible assets consist of the following (in thousands):
As of
March 31, 2026 December 31, 2025
Intangible assets cost $ 30,360  $ 30,360 
Accumulated amortization (6,200) (5,612)
Intangible assets, net $ 24,160  $ 24,748 
Amortization expense included in cost of product sales in the condensed statements of operations was $0.6 million for each of the three months ended March 31, 2026 and 2025.
The following table presents the estimated future amortization expense of intangible assets as of March 31, 2026 (in thousands):
Remainder of 2026 $ 1,763 
2027 2,351 
2028 2,351 
2029 2,351 
2030 2,351 
Thereafter 12,993 
$ 24,160