Updated May 8, 2025, 7:32 PM UTC
| Income Statement - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD, thousands) | 4,531.00 | 17,488 | 2,972 | 3,659 | 4,448 | 2,917.00 | 13,996 | 3,120 | ||||||||
| Cost of revenue (USD, thousands) | 993.00 | 2,888 | 1,467 | 1,493 | 1,565 | 1,354.00 | 5,879 | 1,517 | ||||||||
| Research and development (USD, thousands) | 12,829.00 | 43,242 | 10,057 | 9,420 | 11,890 | 16,475.00 | 47,842 | 6,966 | ||||||||
| General and administrative (USD, thousands) | 17,145.00 | 44,742 | 20,249 | 19,943 | 20,182 | 21,195.00 | 81,569 | 30,062 | ||||||||
| Total costs and expenses (USD, thousands) | 30,967.00 | 90,872 | 31,773 | 30,856 | 33,637 | 39,024.00 | 135,290 | 38,545 | ||||||||
| Loss from operations (USD, thousands) | (26,436.00) | (73,384) | (28,801) | (27,197) | (29,189) | (36,107.00) | (121,294) | (35,425) | ||||||||
| Interest income (USD, thousands) | 948.00 | 3,466 | 1,880 | 1,855 | 1,815 | 2,104.00 | 7,654 | 1,728 | ||||||||
| Interest expense (USD, thousands) | (1,962.00) | (6,273) | (2,524) | (2,600) | (2,996) | (4,366.00) | (12,486) | (4,670) | ||||||||
| Total other income (expense), net (USD, thousands) | (1,014.00) | (5,118) | (12,127) | (745) | 6,034 | (2,262.00) | (9,100) | (2,942) | ||||||||
| Net loss and comprehensive loss (USD, thousands) | (27,450.00) | (78,502) | (40,928) | (27,942) | (23,155) | (38,369.00) | (130,394) | (38,367) | ||||||||
| Net loss per common share, basic and diluted (USD) | (0.43) | (1.21) | (0.54) | (0.37) | (0.30) | (0.45) | (1.66) | (0.45) | ||||||||
| Weighted average common shares outstanding, basic and diluted | (129,308,938.00) | 64,993,476 | 75,393,907 | 76,435,831 | 78,316,820 | (151,439,055.00) | 78,707,503 | 85,172,696 | ||||||||
| Balance Sheet - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Cash and cash equivalents (USD, thousands) | 83,679 | 83,679 | 157,858 | 133,093 | 204,368 | 176,479 | 176,479 | 169,758 | ||||||||
| Total assets (USD, thousands) | 118,332 | 118,332 | 197,116 | 177,361 | 252,886 | 230,313 | 230,313 | 227,429 | ||||||||
| Total liabilities (USD, thousands) | 71,039 | 71,039 | 110,856 | 114,639 | 142,368 | 153,038 | 153,038 | 177,716 | ||||||||
| Accumulated deficit (USD, thousands) | (429,098) | (429,098) | (470,026) | (497,968) | (521,123) | (559,492) | (559,492) | (595,756) | ||||||||
| Total stockholders’ equity (USD, thousands) | 47,293 | 47,293 | 86,260 | 62,722 | 110,518 | 77,275 | 77,275 | 49,713 | ||||||||
| Cash Flow - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Net loss (USD, thousands) | (27,450.00) | (78,502) | (40,928) | (27,942) | (23,155) | (38,369.00) | (130,394) | (38,367) | ||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation (USD, thousands) | 2,551.00 | 10,089 | 4,524 | 4,372 | 4,881 | 5,029.00 | 18,806 | 7,438 | ||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization (USD, thousands) | 506.00 | 2,178 | 489 | 580 | 610 | 518.00 | 2,197 | 451 | ||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: Non-cash lease expense (USD, thousands) | 108.00 | 397 | 113 | 120 | 128 | 107.00 | 468 | 55 | ||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: Loss (gain) on disposal of property and equipment (USD, thousands) | 0.00 | (2) | 3 | 0 | 0 | 43.00 | 46 | 0 | ||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: Accretion and non-cash interest expense (USD, thousands) | 1,960.00 | 6,093 | 2,521 | 2,598 | 2,995 | 4,365.00 | 12,479 | 4,670 | ||||||||
| Changes in operating assets and liabilities: Accounts receivable, net (USD, thousands) | (723.00) | 956 | 1,491 | (679) | (953) | 1,483.00 | 1,342 | 1,472 | ||||||||
| Changes in operating assets and liabilities: Inventory (USD, thousands) | - | - | (3,517) | (3,695) | 7,174 | (203.00) | (241) | (1,108) | ||||||||
| Changes in operating assets and liabilities: Prepaid expenses and other current assets (USD, thousands) | 1,258.00 | (798) | (1,832) | 284 | (1,897) | 1,564.00 | (1,881) | 815 | ||||||||
| Changes in operating assets and liabilities: Other noncurrent assets (USD, thousands) | - | 20 | 63 | 0 | (7,534) | (3,160.00) | (10,631) | (4,624) | ||||||||
| Changes in operating assets and liabilities: Accounts payable (USD, thousands) | (596.00) | (1,152) | 303 | 2,921 | (3,446) | 2,552.00 | 2,330 | 3,418 | ||||||||
| Changes in operating assets and liabilities: Accrued expenses and other current liabilities (USD, thousands) | 6,644.00 | 7,746 | 668 | (968) | 3,591 | 1,968.00 | 5,259 | (4,818) | ||||||||
| Changes in operating assets and liabilities: Operating lease liabilities (USD, thousands) | (240.00) | (900) | (247) | (252) | (261) | (210.00) | (970) | (81) | ||||||||
| Net cash used in operating activities (USD, thousands) | (15,982.00) | (41,564) | (24,866) | (22,661) | (25,082) | (20,813.00) | (93,422) | (30,679) | ||||||||
| Investing activities: Purchases of property, plant and equipment (USD, thousands) | (206.00) | (1,290) | (624) | (1,290) | (1,747) | (1,288.00) | (4,949) | (330) | ||||||||
| Net cash used in investing activities (USD, thousands) | (206.00) | (11,288) | (624) | (1,290) | (1,747) | (4,780.00) | (8,441) | (330) | ||||||||
| Financing activities: Principal payments on long-term debt (USD, thousands) | 0.00 | (20,000) | — | — | — | - | (4,853) | (2,122) | ||||||||
| Financing activities: Principal payments on finance leases (USD, thousands) | (26.00) | (181) | (26) | (27) | (27) | (27.00) | (107) | (64) | ||||||||
| Financing activities: Receipts from litigation financing (USD, thousands) | 4.00 | 113 | 3 | 219 | 267 | 104.00 | 593 | 235 | ||||||||
| Financing activities: Proceeds from sale of common stock, net of issuance costs (USD, thousands) | - | 24,238 | 74,868 | 0 | 64,025 | (342.00) | 138,551 | 0 | ||||||||
| Financing activities: Proceeds from issuance of common stock under stock incentive plans (USD, thousands) | 80.00 | 1,178 | 503 | 32 | 2,393 | 91.00 | 3,019 | 1,264 | ||||||||
| Net cash provided by financing activities (USD, thousands) | 23,642.00 | 43,248 | 99,669 | (814) | 98,104 | (2,296.00) | 194,663 | 24,288 | ||||||||
| Net increase (decrease) in cash and cash equivalents (USD, thousands) | 7,454.00 | (9,604) | 74,179 | (24,765) | 71,275 | (27,889.00) | 92,800 | (6,721) | ||||||||
| Supplemental disclosure of cash flow information: Cash paid for operating lease liabilities (USD, thousands) | 327.00 | 1,283 | 328 | 327 | 330 | 337.00 | 1,322 | 341 | ||||||||
| Supplemental disclosure of cash flow information: Non-cash increase in property, plant and equipment through accounts payable (USD, thousands) | - | 239 | 786 | (152) | (9) | (415.00) | 210 | 151 | ||||||||
| Supplemental disclosure of cash flow information: Non-cash increase in indemnification asset through accounts payable (USD, thousands) | 1.00 | 112 | 5 | 482 | 12 | 254.00 | 753 | 417 | ||||||||
| Cash and cash equivalents, beginning of period (USD, thousands) | 93,283 | 93,283 | 83,679 | 83,679 | 83,679 | 83,679 | 83,679 | 176,479 | ||||||||
| Cash and cash equivalents, end of period (USD, thousands) | 83,679 | 83,679 | 157,858 | 133,093 | 204,368 | 176,479 | 176,479 | 169,758 | ||||||||
| Revenue by Segment - in Millions of USD | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Promotion Agreement | - | - | 2.972 | 3.659 | 4.448 | 2.92 | 14.0 | 3.12 | ||||||||
| - Other Revenue | - | - | - | - | - | - | - | - | ||||||||
| Total Revenue | 4.51 | 17.500 | 2.972 | 3.659 | 4.448 | 2.92 | 14.0 | 3.12 |