Quarterly report [Sections 13 or 15(d)]

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 48,534 $ 56,746
Short-term investments 88,609 20,575
Accounts receivable, net 45,925 41,615
Inventories 13,303 6,002
Prepaid and other current assets 18,556 10,165
Total current assets 214,927 135,103
Property and equipment, net 54 92
Intangible assets, net 25,336 27,100
Operating lease right-of-use asset 1,050 246
Other assets 1,167 1,435
Total assets 242,534 163,976
Current liabilities:    
Accounts payable 3,846 3,339
Accrued compensation 10,065 10,139
Accrued research and development 4,816 4,073
Acquisition-related liabilities 5,000  
Revenue reserves and refund liability 30,020 26,440
Loans payable, net, current portion 29,761 7,272
Other accrued liabilities 8,943 10,396
Deferred revenue 1,355 1,355
Lease liabilities, current portion 594 285
Total current liabilities 94,400 63,299
Acquisition-related liabilities   5,000
Long-term portion of lease liabilities 556  
Long-term portion of loans payable, net 29,969 52,408
Other long-term liabilities   39,981
Total liabilities 124,925 160,688
Commitments
Stockholders' equity:    
Common stock 18 18
Additional paid-in capital 1,408,601 1,393,325
Accumulated other comprehensive income 96 10
Accumulated deficit (1,291,106) (1,390,065)
Total stockholders' equity 117,609 3,288
Total liabilities and stockholders' equity $ 242,534 $ 163,976