0001512762 us-gaap:StateAndLocalJurisdictionMember us-gaap:ResearchMember 2024-12-31 0001512762 us-gaap:DomesticCountryMember us-gaap:ResearchMember 2024-12-31 0001512762 us-gaap:CommonStockMember chrs:AtMarketOfferingMember 2024-01-01 2024-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember chrs:AtMarketOfferingMember 2023-01-01 2023-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember chrs:AtMarketOfferingMember 2024-01-01 2024-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember chrs:PublicOfferingMember 2023-01-01 2023-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember chrs:OptionalStockPurchaseAgreementMember 2023-01-01 2023-12-31 0001512762 chrs:OptionalStockPurchaseAgreementMember 2023-01-01 2023-12-31 0001512762 srt:MaximumMember chrs:AtMarketOfferingMember 2022-11-08 2022-11-08 0001512762 chrs:ChiefMarketingOfficerMember chrs:OptionalStockPurchaseAgreementMember 2023-10-09 2023-10-09 0001512762 chrs:PublicOfferingMember 2023-05-16 2023-05-16 0001512762 us-gaap:CommonStockMember chrs:PublicOfferingMember 2023-01-01 2023-12-31 0001512762 us-gaap:CommonStockMember chrs:OptionalStockPurchaseAgreementMember 2023-01-01 2023-12-31 0001512762 us-gaap:CommonStockMember chrs:AtMarketOfferingMember 2023-01-01 2023-12-31 0001512762 us-gaap:RetainedEarningsMember 2024-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0001512762 us-gaap:RetainedEarningsMember 2023-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001512762 us-gaap:RetainedEarningsMember 2022-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001512762 us-gaap:RetainedEarningsMember 2021-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001512762 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0001512762 chrs:ChiefMarketingOfficerMember chrs:OptionalStockPurchaseAgreementMember 2023-10-09 0001512762 us-gaap:OverAllotmentOptionMember 2023-05-16 0001512762 us-gaap:CallOptionMember 2020-04-14 0001512762 2020-04-14 0001512762 chrs:ExercisePriceRangeTwoMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeThreeMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeSixMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeOneMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeFourMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeFiveMember 2024-01-01 2024-12-31 0001512762 srt:ChiefExecutiveOfficerMember us-gaap:PerformanceSharesMember 2024-01-01 2024-12-31 0001512762 srt:ChiefExecutiveOfficerMember chrs:PerformanceBasedVestingOptionsMember 2024-01-01 2024-12-31 0001512762 srt:ChiefExecutiveOfficerMember chrs:MarketConditionVestingOptionsMember 2024-01-01 2024-12-31 0001512762 chrs:ExercisePriceRangeTwoMember 2024-12-31 0001512762 chrs:ExercisePriceRangeThreeMember 2024-12-31 0001512762 chrs:ExercisePriceRangeSixMember 2024-12-31 0001512762 chrs:ExercisePriceRangeOneMember 2024-12-31 0001512762 chrs:ExercisePriceRangeFourMember 2024-12-31 0001512762 chrs:ExercisePriceRangeFiveMember 2024-12-31 0001512762 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-12-31 0001512762 chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2023-01-01 2023-12-31 0001512762 us-gaap:EmployeeStockOptionMember 2022-01-01 2022-12-31 0001512762 chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2022-01-01 2022-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2023-12-31 0001512762 chrs:TwoThousandTenPlanMember 2014-01-01 2023-12-31 0001512762 srt:MinimumMember us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001512762 srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001512762 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-12-31 0001512762 us-gaap:ProductMember 2024-01-01 2024-12-31 0001512762 us-gaap:ProductAndServiceOtherMember 2024-01-01 2024-12-31 0001512762 chrs:YusimryMember 2024-01-01 2024-12-31 0001512762 chrs:UdenycaMember 2024-01-01 2024-12-31 0001512762 chrs:ToripalimabMember 2024-01-01 2024-12-31 0001512762 chrs:CimerliMember 2024-01-01 2024-12-31 0001512762 us-gaap:ProductMember 2023-01-01 2023-12-31 0001512762 us-gaap:ProductAndServiceOtherMember 2023-01-01 2023-12-31 0001512762 chrs:YusimryMember 2023-01-01 2023-12-31 0001512762 chrs:UdenycaMember 2023-01-01 2023-12-31 0001512762 chrs:ToripalimabMember 2023-01-01 2023-12-31 0001512762 chrs:CimerliMember 2023-01-01 2023-12-31 0001512762 us-gaap:ProductMember 2022-01-01 2022-12-31 0001512762 us-gaap:ProductAndServiceOtherMember 2022-01-01 2022-12-31 0001512762 chrs:UdenycaMember 2022-01-01 2022-12-31 0001512762 chrs:CimerliMember 2022-01-01 2022-12-31 0001512762 us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:EmployeeSeveranceMember 2023-01-01 2023-12-31 0001512762 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:EmployeeSeveranceMember 2023-01-01 2023-12-31 0001512762 us-gaap:EmployeeSeveranceMember 2023-03-10 2023-03-10 0001512762 us-gaap:LoansPayableMember 2022-01-01 2022-12-31 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2024-05-08 2024-05-08 0001512762 srt:MinimumMember us-gaap:ComputerEquipmentMember 2024-12-31 0001512762 srt:MaximumMember us-gaap:ComputerEquipmentMember 2024-12-31 0001512762 us-gaap:MachineryAndEquipmentMember 2024-12-31 0001512762 us-gaap:LeaseholdImprovementsMember 2024-12-31 0001512762 us-gaap:FurnitureAndFixturesMember 2024-12-31 0001512762 us-gaap:ComputerEquipmentMember 2024-12-31 0001512762 us-gaap:MachineryAndEquipmentMember 2023-12-31 0001512762 us-gaap:LeaseholdsAndLeaseholdImprovementsMember 2023-12-31 0001512762 us-gaap:LeaseholdImprovementsMember 2023-12-31 0001512762 us-gaap:FurnitureAndFixturesMember 2023-12-31 0001512762 us-gaap:ComputerEquipmentMember 2023-12-31 0001512762 2022-04-01 2022-04-30 0001512762 chrs:TermLoansMember 2022-01-01 2022-12-31 0001512762 chrs:AtMarketOfferingMember 2024-01-01 2024-12-31 0001512762 chrs:PublicOfferingMember 2023-05-18 2023-05-18 0001512762 chrs:PublicOfferingMember 2023-01-01 2023-12-31 0001512762 chrs:AtMarketOfferingMember 2022-01-01 2022-12-31 0001512762 chrs:YusimryImmunologyFranchiseMember 2024-01-01 2024-12-31 0001512762 chrs:CimerliOphthalmologyFranchiseMember 2024-01-01 2024-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-12-31 0001512762 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-12-31 0001512762 us-gaap:StateAndLocalJurisdictionMember 2024-12-31 0001512762 us-gaap:DomesticCountryMember 2024-12-31 0001512762 us-gaap:RetainedEarningsMember 2024-01-01 2024-12-31 0001512762 us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0001512762 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0001512762 chrs:AccruedRebatesFeesAndReservesMember 2024-12-31 0001512762 chrs:AccruedRebatesFeesAndReservesMember 2023-12-31 0001512762 chrs:NewCamarilloLeaseMember 2023-01-01 2023-12-31 0001512762 chrs:CorporateHeadquartersLeaseAgreementMember 2023-01-01 2023-12-31 0001512762 us-gaap:CostOfSalesMember chrs:UdenycaMember 2024-01-01 2024-12-31 0001512762 chrs:UdenycaMember 2024-01-01 2024-12-31 0001512762 us-gaap:CostOfSalesMember chrs:YusimryProductMember 2023-01-01 2023-12-31 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member 2024-01-01 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2023-01-01 2023-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2023-01-01 2023-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2022-01-01 2022-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2022-01-01 2022-12-31 0001512762 chrs:OutLicensesWithNovartisInstitutesMember 2024-01-01 2024-03-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2024-06-26 2024-06-26 0001512762 us-gaap:LicensingAgreementsMember 2024-12-31 0001512762 us-gaap:InProcessResearchAndDevelopmentMember 2024-12-31 0001512762 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:FairValueInputsLevel3Member chrs:ContingentConsiderationMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 chrs:ContingentConsiderationMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:FairValueInputsLevel3Member chrs:ContingentConsiderationMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateNoteSecuritiesMember 2023-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2024-12-31 0001512762 chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2024-01-01 2024-12-31 0001512762 us-gaap:RoyaltyAgreementsMember 2024-01-01 2024-12-31 0001512762 us-gaap:RoyaltyAgreementsMember 2024-12-31 0001512762 us-gaap:RoyaltyAgreementsMember 2024-05-08 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2023-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2023-12-31 0001512762 chrs:UdenycaBusinessMember 2024-12-02 0001512762 srt:MaximumMember chrs:Plan401KMember 2019-01-01 2019-12-31 0001512762 srt:MaximumMember chrs:Plan401KMember 2024-01-01 2024-12-31 0001512762 chrs:Plan401KMember 2024-01-01 2024-12-31 0001512762 chrs:Plan401KMember 2023-01-01 2023-12-31 0001512762 chrs:Plan401KMember 2022-01-01 2022-12-31 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:LoansPayableMember 2019-01-07 2019-01-07 0001512762 us-gaap:LoansPayableMember 2019-01-07 2019-01-07 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member 2016-02-29 2016-02-29 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:LoansPayableMember 2020-01-01 0001512762 chrs:TwoThousandTwentyNineTermLoansMember us-gaap:FairValueInputsLevel2Member 2024-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:FairValueInputsLevel2Member 2024-12-31 0001512762 chrs:AnkuraTrustCompanyLlcMember chrs:TwoThousandTwentyNineTermLoansMember 2024-05-08 0001512762 chrs:TermLoansMember 2024-04-01 0001512762 chrs:TermLoansMember us-gaap:FairValueInputsLevel2Member 2023-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:FairValueInputsLevel2Member 2023-12-31 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:LoansPayableMember 2019-01-07 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:ConvertibleDebtMember chrs:KKRBiosimilarLPMember 2016-02-29 0001512762 us-gaap:ConvertibleDebtMember chrs:MXIIAssociatesLLCMember 2016-02-29 0001512762 us-gaap:ConvertibleDebtMember chrs:KMGCapitalPartnersLLCMember 2016-02-29 0001512762 us-gaap:ConvertibleDebtMember chrs:KKRBiosimilarLPMember 2016-02-29 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member us-gaap:ConvertibleDebtMember 2016-02-29 0001512762 chrs:TermLoansMember 2024-01-01 2024-12-31 0001512762 us-gaap:ScenarioPlanMember chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2024-01-01 2024-12-31 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member us-gaap:ConvertibleDebtMember 2022-03-31 0001512762 chrs:McKessonMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0001512762 chrs:CardinalMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0001512762 chrs:AmeriSourceBergenCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0001512762 chrs:McKessonMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0001512762 chrs:CardinalMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0001512762 chrs:AmeriSourceBergenCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0001512762 chrs:McKessonMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001512762 chrs:CardinalMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001512762 chrs:AmeriSourceBergenCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001512762 us-gaap:CommonStockMember 2024-12-31 0001512762 us-gaap:CommonStockMember 2023-12-31 0001512762 us-gaap:CommonStockMember 2022-12-31 0001512762 us-gaap:CommonStockMember 2021-12-31 0001512762 chrs:PublicOfferingMember 2023-05-16 0001512762 chrs:TwoThousandTenPlanMember 2024-12-31 0001512762 chrs:TwoThousandAndFourteenEquityIncentiveAwardPlanMember 2024-12-31 0001512762 chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2024-12-31 0001512762 chrs:TwoThousandAndFourteenEquityIncentiveAwardPlanMember 2024-05-29 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2024-01-01 2024-12-31 0001512762 chrs:SurfaceOncologyInc.Member us-gaap:LicensingAgreementsMember 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member us-gaap:InProcessResearchAndDevelopmentMember 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:OutLicensesWithNovartisInstitutesMember 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:OutLicensesWithGrkMember 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:InProcessResearchAndDevelopmentSrf388Member 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:InProcessResearchAndDevelopmentSrf114Member 2023-09-08 0001512762 chrs:UdenycaPurchaseAgreementAndRelatedSaleMember us-gaap:SubsequentEventMember 2025-04-30 0001512762 chrs:SurfaceOncologyInc.Member 2024-12-31 0001512762 chrs:SurfaceOncologyInc.Member 2024-03-31 0001512762 chrs:SurfaceOncologyInc.Member 2024-01-01 2024-03-31 0001512762 chrs:SurfaceOncologyInc.Member 2023-01-01 2023-12-31 0001512762 chrs:SurfaceOncologyInc.Member 2022-01-01 2022-12-31 0001512762 us-gaap:MoneyMarketFundsMember 2024-12-31 0001512762 us-gaap:MoneyMarketFundsMember 2023-12-31 0001512762 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2023-12-31 0001512762 us-gaap:CorporateNoteSecuritiesMember 2023-12-31 0001512762 us-gaap:USTreasurySecuritiesMember 2023-12-31 0001512762 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001512762 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateNoteSecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2023-12-31 0001512762 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 chrs:PrepaidExpensesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 chrs:ContingentConsiderationMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateNoteSecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateNoteSecuritiesMember 2023-12-31 0001512762 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 chrs:PrepaidExpensesMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001512762 chrs:LaboratoryFacilitiesLeaseAgreementMember 2023-12-31 0001512762 chrs:CorporateHeadquartersLeaseAgreementMember 2023-12-31 0001512762 chrs:OfficeSpaceRemainingPremisesMember chrs:SixthAmendmentToLeaseMember 2023-10-24 0001512762 chrs:SixthAmendmentToLeaseMember 2023-10-24 0001512762 chrs:ConvertibleNotesMember chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member 2024-01-01 2024-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001512762 chrs:EmployeesAndNonemployeesStockOptionMember 2024-01-01 2024-12-31 0001512762 chrs:ConvertibleNotesMember chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member 2023-01-01 2023-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2023-01-01 2023-12-31 0001512762 chrs:EmployeesAndNonemployeesStockOptionMember 2023-01-01 2023-12-31 0001512762 chrs:ConvertibleNotesMember chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member 2022-01-01 2022-12-31 0001512762 chrs:ConvertibleNotesMember chrs:ConvertibleSeniorNotes8.2PercentDue2022Member 2022-01-01 2022-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001512762 chrs:EmployeesAndNonemployeesStockOptionMember 2022-01-01 2022-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2024-01-01 2024-12-31 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2024-01-01 2024-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2023-01-01 2023-12-31 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member us-gaap:ConvertibleDebtMember 2023-01-01 2023-12-31 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2023-01-01 2023-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2022-01-01 2022-12-31 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2022-01-01 2022-12-31 0001512762 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-01-01 2024-12-31 0001512762 us-gaap:ResearchAndDevelopmentExpenseMember 2024-01-01 2024-12-31 0001512762 us-gaap:CostOfSalesMember 2024-01-01 2024-12-31 0001512762 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-01-01 2023-12-31 0001512762 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-01 2023-12-31 0001512762 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2022-01-01 2022-12-31 0001512762 us-gaap:ResearchAndDevelopmentExpenseMember 2022-01-01 2022-12-31 0001512762 us-gaap:CostOfSalesMember 2022-01-01 2022-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-12-31 0001512762 chrs:SurfaceOncologyInc.Member chrs:OutLicensesWithNovartisInstitutesMember 2023-09-08 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:OutLicensesWithGrkMember 2023-09-08 2023-09-08 0001512762 chrs:JunshiBiosciencesMember 2024-12-31 0001512762 2024-10-01 2024-12-31 0001512762 2024-06-28 0001512762 2025-02-28 0001512762 srt:WeightedAverageMember 2024-01-01 2024-12-31 0001512762 srt:WeightedAverageMember chrs:AtMarketOfferingMember 2023-01-01 2023-12-31 0001512762 srt:WeightedAverageMember 2023-01-01 2023-12-31 0001512762 us-gaap:DomesticCountryMember us-gaap:ResearchMember 2024-01-01 2024-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-12-31 0001512762 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0001512762 us-gaap:CommonStockMember 2024-01-01 2024-12-31 0001512762 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-12-31 0001512762 chrs:YusimryProductMember 2023-01-01 2023-12-31 0001512762 us-gaap:OverAllotmentOptionMember 2023-05-16 2023-05-16 0001512762 chrs:AtMarketOfferingMember 2023-05-15 0001512762 srt:MaximumMember chrs:AtMarketOfferingMember 2023-09-11 0001512762 srt:MaximumMember chrs:PublicOfferingMember 2023-05-16 0001512762 srt:MaximumMember chrs:AtMarketOfferingMember 2023-05-15 0001512762 srt:MaximumMember chrs:AtMarketOfferingMember 2022-11-08 0001512762 us-gaap:EmployeeSeveranceMember 2023-01-01 2023-03-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2023-01-01 2023-12-31 0001512762 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001512762 chrs:RevenuePurchaseAndSaleAgreementMember 2024-01-01 2024-12-31 0001512762 chrs:RevenuePurchaseAndSaleAgreementMember us-gaap:SubsequentEventMember 2025-01-01 2025-03-31 0001512762 chrs:UdenycaMember chrs:RevenuePurchaseAndSaleAgreementMember 2024-05-08 0001512762 chrs:UdenycaAndLoqtorziMember chrs:RevenuePurchaseAndSaleAgreementMember 2024-05-08 0001512762 chrs:RevenuePurchaseAndSaleAgreementMember 2024-05-08 0001512762 chrs:RebatesMember 2024-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2024-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2024-12-31 0001512762 chrs:RebatesMember 2023-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2023-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2023-12-31 0001512762 chrs:RebatesMember 2022-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2022-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2022-12-31 0001512762 2022-12-31 0001512762 chrs:RebatesMember 2021-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2021-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2021-12-31 0001512762 2021-12-31 0001512762 srt:MinimumMember chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2014-10-31 2014-10-31 0001512762 chrs:TwoThousandAndFourteenEquityIncentiveAwardPlanMember 2024-01-01 2024-12-31 0001512762 chrs:AtMarketOfferingMember 2023-01-01 2023-12-31 0001512762 chrs:YusimryProductMember 2023-12-31 0001512762 chrs:CimerliOphthalmologyFranchiseMember 2023-12-31 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:LoansPayableMember 2022-01-01 2022-01-31 0001512762 chrs:LoqtorziMember 2024-12-31 0001512762 chrs:LoqtorziMember 2019-05-02 0001512762 chrs:ConvertibleSeniorNotes8.2PercentDue2022Member us-gaap:ConvertibleDebtMember 2022-03-01 2022-03-31 0001512762 chrs:BioeqIPAGMember 2019-05-02 2019-05-02 0001512762 srt:MinimumMember 2024-01-01 2024-12-31 0001512762 srt:MaximumMember 2024-01-01 2024-12-31 0001512762 chrs:RebatesMember 2024-01-01 2024-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2024-01-01 2024-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2024-01-01 2024-12-31 0001512762 chrs:RebatesMember 2023-01-01 2023-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2023-01-01 2023-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2023-01-01 2023-12-31 0001512762 chrs:RebatesMember 2022-01-01 2022-12-31 0001512762 chrs:OtherFeesCoPayAssistanceAndReturnsMember 2022-01-01 2022-12-31 0001512762 chrs:ChargebacksAndDiscountsForPromptPaymentMember 2022-01-01 2022-12-31 0001512762 us-gaap:StateAndLocalJurisdictionMember 2024-01-01 2024-12-31 0001512762 us-gaap:DomesticCountryMember 2024-01-01 2024-12-31 0001512762 chrs:VehiclesLeaseMember 2019-01-01 2019-12-31 0001512762 chrs:ChiefMarketingOfficerMember chrs:OptionalStockPurchaseAgreementMember 2023-10-04 2023-10-04 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member 2024-12-31 0001512762 2024-02-05 2024-02-05 0001512762 chrs:ToripalimabMember chrs:JunshiBiosciencesMember 2024-01-01 2024-12-31 0001512762 2024-03-01 2024-03-31 0001512762 us-gaap:LicenseMember chrs:JunshiBiosciencesMember 2021-02-01 2021-02-01 0001512762 chrs:TwoThousandTwentyNineTermLoansMember 2024-12-31 0001512762 us-gaap:CostOfSalesMember 2023-01-01 2023-12-31 0001512762 chrs:TwoThousandTwentyNineTermLoansMember us-gaap:DebtInstrumentRedemptionPeriodTwoMember 2024-05-08 2024-05-08 0001512762 chrs:TwoThousandTwentyNineTermLoansMember us-gaap:DebtInstrumentRedemptionPeriodThreeMember 2024-05-08 2024-05-08 0001512762 chrs:TwoThousandTwentyNineTermLoansMember us-gaap:DebtInstrumentRedemptionPeriodOneMember 2024-05-08 2024-05-08 0001512762 chrs:RevenuePurchaseAndSaleAgreementMember us-gaap:InterestExpenseMember 2024-01-01 2024-12-31 0001512762 chrs:AtMarketOfferingMember 2023-09-11 2023-09-11 0001512762 chrs:SurfaceOncologyInc.Member chrs:OutLicensesWithNovartisInstitutesMember 2024-01-01 2024-03-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2024-03-01 2024-03-01 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2020-04-01 2020-04-30 0001512762 chrs:TwoThousandAndFourteenEmployeeStockPurchasePlanMember 2014-10-31 2014-10-31 0001512762 2022-01-01 2022-12-31 0001512762 chrs:UdenycaPurchaseAgreementAndRelatedSaleMember us-gaap:SubsequentEventMember 2025-04-01 2025-04-30 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2024-01-01 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:UdenycaBusinessMember 2024-01-01 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:YusimryImmunologyFranchiseMember 2024-06-26 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:CimerliOphthalmologyFranchiseMember 2024-03-01 0001512762 chrs:RevenuePurchaseAndSaleAgreementMember 2024-12-31 0001512762 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember chrs:UdenycaBusinessMember 2024-12-02 0001512762 us-gaap:DiscontinuedOperationsDisposedOfBySaleMember chrs:UdenycaBusinessMember 2024-12-02 0001512762 chrs:JunshiBiosciencesMember 2024-01-01 2024-12-31 0001512762 2024-02-05 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2024-05-08 0001512762 chrs:HealthcareRoyaltyPartnersIIILPMember us-gaap:LoansPayableMember 2022-01-31 0001512762 chrs:BiopharmaCreditInvestmentsVGpLlcMember chrs:TermLoansMember 2022-01-05 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2020-04-30 0001512762 chrs:TwoThousandTwentyNineTermLoansMember 2024-01-01 2024-12-31 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member 2024-01-01 2024-12-31 0001512762 chrs:TwoThousandTwentyNineTermLoansMember 2024-05-08 2024-05-08 0001512762 chrs:TermLoansMember 2024-04-01 2024-04-01 0001512762 chrs:ConvertibleSeniorSubordinatedNotesDue20261.5Member us-gaap:ConvertibleDebtMember 2024-12-31 0001512762 chrs:AtMarketOfferingMember 2024-12-31 0001512762 chrs:ToripalimabMember chrs:JunshiBiosciencesMember 2021-02-01 2021-02-01 0001512762 chrs:Chs006AntiTigitAntibodyMember 2021-02-01 0001512762 chrs:CanadaLicenseAgreementMember 2024-01-01 2024-12-31 0001512762 chrs:JunshiBiosciencesMember 2023-01-01 2023-12-31 0001512762 chrs:Chs006AntiTigitAntibodyMember 2022-03-01 2022-03-31 0001512762 chrs:Chs006AntiTigitAntibodyMember 2021-02-01 2021-02-01 0001512762 chrs:JunshiBiosciencesMember 2021-02-01 2021-02-01 0001512762 chrs:GskAgreementMember chrs:SurfaceMember 2022-03-01 2022-03-31 0001512762 chrs:AntiTigitAntibodyAndIl2CytokineMember chrs:Chs006AntiTigitAntibodyMember 2022-03-31 0001512762 chrs:ToripalimabMember chrs:JunshiBiosciencesMember 2024-12-31 0001512762 chrs:VaccinexLicenseAgreementMember 2021-03-23 2021-03-23 0001512762 chrs:AdimabDevelopmentAndOptionAgreementMember 2018-10-01 2018-10-31 0001512762 chrs:GskAgreementMember 2020-12-01 2020-12-31 0001512762 us-gaap:AccountsPayableMember chrs:JunshiBiosciencesMember 2024-12-31 0001512762 chrs:AccruedAndOtherCurrentLiabilitiesMember chrs:JunshiBiosciencesMember 2024-12-31 0001512762 us-gaap:AccountsPayableMember chrs:JunshiBiosciencesMember 2023-12-31 0001512762 chrs:AccruedAndOtherCurrentLiabilitiesMember chrs:JunshiBiosciencesMember 2023-12-31 0001512762 us-gaap:CallOptionMember 2020-04-01 2020-04-30 0001512762 2023-01-01 2023-12-31 0001512762 chrs:SurfaceOncologyInc.Member 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:SurfaceSrf388ProprietaryDrugProductAgreementMember 2023-09-08 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:SurfaceSrf114ProprietaryDrugProductAgreementMember 2023-09-08 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member chrs:SurfaceGlaxosmithklineAgreementMember 2023-09-08 2023-09-08 0001512762 chrs:SurfaceOncologyInc.Member 2023-09-08 2023-09-08 0001512762 2024-01-01 2024-12-31 0001512762 chrs:IntangibleAssetsNetAndAccruedAndOtherCurrentLiabilitiesMember chrs:JunshiBiosciencesMember 2024-03-31 0001512762 chrs:JunshiBiosciencesMember 2023-10-27 0001512762 2024-12-31 0001512762 2023-12-31 chrs:employee iso4217:USD pure chrs:item shares iso4217:USD shares chrs:payment chrs:segment utr:sqft chrs:position

http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent

http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet

http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent

http://www.coherus.com/20241231#OperatingAndFinanceLeaseLiabilityNoncurrent

http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent

http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent

0001512762 --12-31 2024 FY false

http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember

http://fasb.org/us-gaap/2024#ResearchAndDevelopmentExpense

http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense

http://fasb.org/us-gaap/2024#GainLossOnSaleOfInterestInProjects

http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense

http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense

P4Y

http://fasb.org/us-gaap/2024#SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember

2024-09-01

true

2027-05-01

true

http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent

http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet

http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent

http://www.coherus.com/20241231#OperatingAndFinanceLeaseLiabilityNoncurrent

http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent

http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent

P10D

P1Y

--05-16 --11-16 10-K true 2024-12-31 false 001-36721 Coherus BioSciences, Inc. DE 27-3615821 333 Twin Dolphin Drive Suite 600 Redwood City CA 94065 94065 94065 650 649-3530 649-3530 Common Stock, $0.0001 par value per share CHRS NASDAQ No No Yes Yes Accelerated Filer true false true false false 170600000 115896849 Part III of this annual report on Form 10-K incorporates by reference certain information from the registrant’s definitive proxy statement for the 2025 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year ended December 31, 2024. We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program is designed to align with industry standards and incorporates best practices such as the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. We have also established an interdisciplinary Cybersecurity Incident Response Team (“CIRT”), which is responsible for our incident response plan, our security controls, and for assessing incidents reported by our information technology security team. In addition, our cybersecurity risk management program includes: <table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Monitoring and evaluation of our vulnerability performance. </td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Implementation of processes to oversee and identify risks from cybersecurity threats associated with our use of third-party service providers that have access to our critical systems and information. For any agreements with service providers that do not contain acceptable protections, we are working to put them in place on an ongoing basis. </td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise information technology environment. We use a third-party consultant to provide us with advisory, project execution, and operational support in connection with cybersecurity and to conduct NIST assessments and vulnerability evaluations. </td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;">Cybersecurity awareness training of our employees, contractors, incident response personnel, and senior management. </td></tr></table>We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. For more information, see the section titled “Risk Factor— Our information technology systems, or those used by our third-party CROs or other contractors or consultants, may fail or suffer security breaches and geopolitical tensions or conflicts, such as the ongoing war in Ukraine or conflicts in the Middle East, may create a heightened risk of cyberattacks.” We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program is designed to align with industry standards and incorporates best practices such as the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. true true true false Risk assessment and oversight are an integral part of our governance and management processes. Our Board of Directors encourages management to promote a culture that incorporates risk management into our corporate strategy and day-to-day business operations. Our Board considers cybersecurity risk as part of its risk oversight function and oversees management’s implementation of our cybersecurity risk management program. Management discusses strategic and operational risks at regular management meetings and conducts specific strategic planning and review sessions throughout the year. Throughout the year, senior management reviews these risks, including with respect to cybersecurity, with the Board of Directors at board meetings from time to time as part of management presentations that focus on particular business functions, operations or strategies and presents the steps taken by management to mitigate or eliminate such risks. We have implemented a risk-based approach to identify and assess the cybersecurity threats that could adversely affect our business, data or information systems that we use or own. Our Vice President of Information Technology, as head of our information technology team, leading our cybersecurity efforts, oversees the day-to-day administration of our cybersecurity program. Our CIRT has members that include our Chief Executive Officer, Chief Financial Officer, Vice President, Corporate & Securities Law, and Vice President of Information Technology. As key members of our management team, our Chief Executive Officer, Chief Financial Officer, and Vice President of Information Technology have approximately a combined 48 years of risk management experience and are responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Key members of our information technology management team collectively possess over 16 years of hands-on experience in implementing a diverse array of cybersecurity initiatives. Their expertise spans both cloud and on-premise IT infrastructure and applications/systems, cultivated through extensive engagement across various regulated environments. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the information technology environment. Risk assessment and oversight are an integral part of our governance and management processes. Our Board of Directors encourages management to promote a culture that incorporates risk management into our corporate strategy and day-to-day business operations. Our Board considers cybersecurity risk as part of its risk oversight function and oversees management’s implementation of our cybersecurity risk management program. Board of Directors Management discusses strategic and operational risks at regular management meetings and conducts specific strategic planning and review sessions throughout the year. Throughout the year, senior management reviews these risks, including with respect to cybersecurity, with the Board of Directors at board meetings from time to time as part of management presentations that focus on particular business functions, operations or strategies and presents the steps taken by management to mitigate or eliminate such risks. We have implemented a risk-based approach to identify and assess the cybersecurity threats that could adversely affect our business, data or information systems that we use or own. Our Vice President of Information Technology, as head of our information technology team, leading our cybersecurity efforts, oversees the day-to-day administration of our cybersecurity program. Our CIRT has members that include our Chief Executive Officer, Chief Financial Officer, Vice President, Corporate & Securities Law, and Vice President of Information Technology. As key members of our management team, our Chief Executive Officer, Chief Financial Officer, and Vice President of Information Technology have approximately a combined 48 years of risk management experience and are responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Key members of our information technology management team collectively possess over 16 years of hands-on experience in implementing a diverse array of cybersecurity initiatives. Their expertise spans both cloud and on-premise IT infrastructure and applications/systems, cultivated through extensive engagement across various regulated environments. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the information technology environment. true true Vice President of Information Technology As key members of our management team, our Chief Executive Officer, Chief Financial Officer, and Vice President of Information Technology have approximately a combined 48 years of risk management experience and are responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Key members of our information technology management team collectively possess over 16 years of hands-on experience in implementing a diverse array of cybersecurity initiatives. Their expertise spans both cloud and on-premise IT infrastructure and applications/systems, cultivated through extensive engagement across various regulated environments. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the information technology environment. 42 Ernst & Young LLP San Mateo, California

125987000

102891000

14857000

111324000

260522000

11010000

70094000

62605000

11636000 23657000

11532000

11099000

341583000

475631000

2837000

5119000

43776000

67495000

53646000

71673000

6691000

9686000

448533000

629604000

28456000

35219000

164867000 169645000 11026000

18344000

21521000

60288000

105386000

282981000

331771000

36698000 246481000

228229000

226888000

3286000 5328000

29329000

12561000

580523000

823029000

0.0001

5000000

0.0001

300000000

115614548

112215260

12000

11000

1419266000

1386312000

-275000

-248000

-1550993000

-1579500000

-131990000

-193425000

448533000

629604000

266960000

257244000

211042000

117553000

158992000

70083000

93336000

109436000

199358000

167738000

192015000

198481000

378627000

460443000

467922000

-111667000

-203199000

-256880000

27158000

40542000

32474000

176589000

-12630000

-6222000

3373000

5469000

3822000

28507000

-238272000

-291754000

-380000

28507000

-237892000

-291754000

0.25

-2.53

-3.76

0.25

-2.53

-3.76

114553537

94162637

77630020

114830462

94162637

77630020

28507000

-237892000

-291754000

-24000

2000

22000

-3000

-1000

28480000

-237891000

-291733000

76930096

7000

1147843000

-270000

-1049854000

97726000

-291754000

141897

691000

806854

347883

2320000

916884

1000

6133000

6134000

292098

3744000

51188000

21000

78851516

8000

1204431000

-249000

-1341608000

-137418000

-237892000

430504

694000

1280901

630348

1809000

11971460

1000

58540000

58541000

261239 1053000 1053000 65732 347000 347000

3559761

1000

18316000

18317000

13529411

1000

53624000

53625000

2225513

8179000

459661

3527000

43540000

1000

112215260

11000

1386312000

-248000

-1579500000

-193425000

28507000

174651

291000

816876

852222

926000

1976750 1000 4407000 4408000

650005

1455000

1071216

2476000

28351000

-27000

115614548

12000

1419266000

-275000

-1550993000

-131990000

28507000

-237892000

-291754000

5276000

3791000

3699000

27802000

43110000

50737000

6772000

-12630000

-6222000

176589000

14143000

52595000

26000000

4159000

2407000

6431000

1394000 2476000 2503000 35000000 5043000 375000

-5471000

-4920000

-705000

-149350000

150683000

-13052000

31952000

46734000

47348000

-4664000

-2027000

4214000

838000

-16155000

13424000

-3938000

23760000

-4548000

-6065000 113105000 -24566000 1549000 -5373000 596000

-56876000

10917000

1195000

-20440000

-174884000

-241124000

6200000

144360000

8688000

13282000

187823000

40000000

6997000

12500000 35000000

19507000

127382000

-110000

492000

4468000

230321000

144640000

-166850000

36979000

36486000

1455000

18093000

6358000

53625000

291000

694000

691000

926000

1809000

2320000

2476000

3587000

3744000

240679000

109000000

81750000

260387000

-248000

-1034000

-1228000

-186974000

69600000

54326000

22907000

39356000

-353648000

103343000

63987000

417635000

126250000

103343000

63987000

25376000

37857000

34878000

-114000

-118000

40000

25000000 8179000

4408000

483400000

118400000

2 37500000 70

Basis of ConsolidationThe accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Coherus and its wholly-owned subsidiaries. The Company does not have any significant interest in variable interest entities. All material intercompany transactions and balances have been eliminated upon consolidation.

Use of EstimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when these values are not readily apparent from other sources. Estimates are assessed each period and updated to reflect current information. Accounting estimates and judgements are inherently uncertain, and the actual results could differ from these estimates.

Segment Reporting and Geographic DisclosuresThe Company operates and manages its business as one reportable and operating segment, which is the business of developing and commercializing human pharmaceutical products. The Company’s chief executive officer, as the chief operating decision maker (“CODM”), manages and allocates resources to the operations of the Company on an entity-wide basis. Managing and allocating resources on an entity-wide basis enables the CODM to assess the overall level of resources available and how to best deploy these resources across functions. The CODM assesses operating performance and makes operating decisions primarily based on net income (loss), cash on-hand and cash flows. All expense categories on the consolidated statements of operations are significant, and there are no other significant segment expenses that would require disclosure. Primarily, all revenue is generated and all long-lived assets are maintained in the United States. 1

Cash, Cash Equivalents and Restricted CashCash, cash equivalents and restricted cash comprise cash and highly liquid investments with original maturities of 90 days or less.The following table provides a reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets and which, in aggregate, represent the amount reported in the consolidated statements of cash flows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:32.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">January 1,</td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;">At beginning of period:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:64.98%;background:#cceeff;margin:0pt;padding:0pt;">Cash and cash equivalents</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;margin:0pt;padding:0pt;"> 102,891</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;margin:0pt;padding:0pt;"> 63,547</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;background:#cceeff;margin:0pt;padding:0pt;"> 417,195</td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;">Restricted cash</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 452</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 440</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 440</td></tr><tr><td style="vertical-align:bottom;width:64.98%;background:#cceeff;margin:0pt;padding:0pt;">Total cash, cash equivalents and restricted cash</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 103,343</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 63,987</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 417,635</td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:32.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31,</td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;">At end of period:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:64.98%;background:#cceeff;margin:0pt;padding:0pt;">Cash and cash equivalents</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;margin:0pt;padding:0pt;"> 125,987</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;margin:0pt;padding:0pt;"> 102,891</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;background:#cceeff;margin:0pt;padding:0pt;"> 63,547</td></tr><tr><td style="vertical-align:bottom;width:64.98%;margin:0pt;padding:0pt;">Restricted cash</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 263</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 452</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 440</td></tr><tr><td style="vertical-align:bottom;width:64.98%;background:#cceeff;margin:0pt;padding:0pt;">Total cash, cash equivalents and restricted cash</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 126,250</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.18%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 103,343</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 63,987</td></tr></table>Restricted cash consists of deposits for letters of credit that the Company has provided to secure its obligations under certain leases and is included in other assets, non-current in the consolidated balance sheets.The Company classifies milestone and option payments related to licensing arrangements as cash flows used in investing activities in its consolidated statements of cash flows.

102891000

63547000

417195000

452000

440000

103343000

63987000

417635000

125987000

102891000

63547000

263000

452000

440000

126250000

103343000

63987000

Trade ReceivablesTrade receivables are recorded net of allowances for chargebacks, chargeback prepayments, cash discounts for prompt payment and credit losses. The Company estimates an allowance for expected credit losses by considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. The corresponding expense for the credit loss allowance is reflected in selling, general and administrative expenses and was not material during the periods presented. The Company believes that its allowance for expected credit losses was adequate and immaterial as of December 31, 2024 and 2023.

Investments in Marketable SecuritiesInvestments in marketable securities primarily consist of U.S. Treasury securities, government agency securities, commercial paper, corporate bonds and market money funds. Management determines the appropriate classification of investments in marketable securities at the time of purchase based upon management’s intent with regards to such investment and re-evaluates such designation as of each balance sheet date. The Company’s investment policy requires that it only invests in highly rated securities and limits its exposure to any single issuer, except for securities issued by the U.S. government. All investments in marketable debt securities are held as “available-for-sale” and are carried at the estimated fair value as determined based upon quoted market prices or pricing models for similar securities. The Company classifies investments in marketable securities as short-term when they have remaining contractual maturities of one year or less from the balance sheet date. The Company regularly reviews its investments for declines in fair value below the amortized cost basis to determine whether the impairment, if any, is due to credit-related or other factors. This review includes the credit worthiness of the security issuers, the severity of the unrealized losses, whether the Company has the intent to sell the securities and whether it is more likely than not that the Company will be required to sell the securities before the recovery of the amortized cost basis. Unrealized gains and losses on available-for-sale debt securities are reported as a component of accumulated comprehensive income (loss), with the exception of unrealized losses believed to be related to credit losses, if any, which are recognized in earnings in the period the impairment occurs. Impairment assessments are made at the individual security level each reporting period. When the fair value of an available-for-sale debt investment is less than its cost at the balance sheet date, a determination is made as to whether the impairment is related to a credit loss and, if it is, the portion of the impairment relating to credit loss is recorded as an allowance through net income. There were no impairments related to credit losses during any of the periods presented. Realized gains and losses, if any, on available-for-sale securities are included in other income (expense), net, in the consolidated statements of operations based on the specific identification method. During 2024, 2023 and 2022, interest income was $4.5 million, $2.8 million and $1.9 million, respectively, and is included in other income (expense), net, in the consolidated statements of operations.

4500000

2800000

1900000

Concentrations of RiskThe Company’s financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, investments in marketable securities and trade receivables. The Company attempts to minimize the risks related to cash, cash equivalents and marketable securities by investing in a broad and diverse range of financial instruments. The investment portfolio is maintained in accordance with the Company’s investment policy, which defines allowable investments, specifies credit quality standards and limits the credit exposure of any single issuer. The Company monitors the credit worthiness of customers that are granted credit in the normal course of business. In general, there is no requirement for collateral from customers.Substantially all of the Company’s revenues are in the United States to three wholesalers. During 2024 and 2023, the products sold by the Company were UDENYCA, CIMERLI, YUSIMRY and LOQTORZI. Net revenue for product sales of YUSIMRY and CIMERLI effectively ceased following the disposition of these two product lines on June 26, 2024 and March 1, 2024, respectively (see Note 6. Acquisition and Dispositions). During 2022, UDENYCA and CIMERLI were the only products sold by the Company.

Business Combination Accounting & Valuation of Acquired Assets The Company accounts for acquisitions of entities that include inputs and processes and have the ability to create outputs as business combinations. Judgment is required in assessing whether the acquired processes or activities, along with their inputs, meet the criteria to constitute a business, as defined by U.S. GAAP.The acquisition method of accounting requires the recognition of assets acquired and liabilities assumed at their acquisition date fair values. The excess of the fair value of consideration transferred over the fair value of the net assets acquired is recorded as goodwill, or when there is an excess of the fair values of these identifiable assets and liabilities over the fair value of purchase consideration, a bargain purchase gain is recorded in the consolidated statements of operations. The estimations of fair values are based on non-observable inputs that are included in valuation models. An income approach, which generally relies upon projected cash flow models, is used in estimating the fair value of the acquired intangible assets. These cash flow projections are based on management's estimates of economic and market conditions including the estimated future cash flows from revenues of acquired assets, the timing and projection of costs and expenses and the related profit margins, tax rates, and discount rate.During the measurement period, which occurs before finalization of the purchase price allocation, changes in assumptions and estimates that result in adjustments to the fair values of assets acquired and liabilities assumed, if based on facts and circumstances existing at the acquisition date, are recorded on a retroactive basis as of the acquisition date, with the corresponding offset to goodwill or bargain purchase gain (See Note 6. Acquisition and Dispositions).

Foreign CurrencyMonetary assets and liabilities denominated in foreign currency are remeasured at period-end exchange rates. Non-monetary assets and liabilities denominated in foreign currencies are remeasured at historical rates. Translation gains and losses are included in accumulated other comprehensive loss in stockholders’ deficit. Revenue and expense accounts are translated to U.S. dollars at average exchange rates in effect during the period with resulting transaction gains and losses recognized in other income (expense), net in the consolidated statements of operations. The Company has not experienced material foreign currency transaction gains and losses for any of the years presented.

InventoryInventory is stated at the lower of cost or estimated net realizable value with cost determined under the first-in first-out method. Inventory costs include third-party contract manufacturing, third-party packaging services, freight, labor costs for personnel involved in the manufacturing process, and indirect overhead costs. The Company primarily uses actual costs to determine the cost basis for inventory. The determination of excess or obsolete inventory requires judgment including consideration of many factors, such as estimates of future product demand, current and future market conditions, product expiration information, and potential product obsolescence, among others. During 2024, 2023 and 2022, the Company recorded $14.1 million, $52.6 million and $26.0 million in inventory write-downs, respectively, within cost of goods sold in the consolidated statements of operations. The 2024 charge was primarily for the write-down of UDENYCA inventory that did not meet acceptance criteria. The 2023 charge was primarily for the write-down of slow moving YUSIMRY inventory and the related partial recognition of certain firm purchase commitments. The 2022 charge was due to the competitive environment and lower demand for UDENYCA resulting in certain inventory becoming at risk of expiration.Although the Company believes the assumptions used in estimating potential inventory write-downs are reasonable, if actual market conditions are less favorable than projected by management, write-downs of inventory, charges related to firm purchase commitments, or both may be required which would be recorded as cost of goods sold in the consolidated statements of operations. Adverse developments affecting the Company’s assumptions of the level and timing of demand for its products include those that are outside of the Company’s control such as the actions taken by competitors and customers, the direct or indirect effects of the COVID-19 pandemic, and other factors.Prior to the regulatory approval of product candidates, the Company incurs expenses for the manufacture of drug products that could potentially be available to support the commercial launch of the products. Inventory costs are capitalized when future commercialization is considered probable and the future economic benefit is expected to be realized, based on management’s judgment. A number of factors are considered, including the current status in the regulatory approval process, potential impediments to the approval process such as safety or efficacy, viability of commercialization and marketplace trends. Inventory in the consolidated balance sheets as of December 31, 2024 relates to UDENYCA and LOQTORZI. The Company began to capitalize inventory costs associated with UDENYCA, CIMERLI and LOQTORZI after receiving final regulatory approval in November 2018, August 2022, and October 2023, respectively, and capitalization of YUSIMRY inventory costs began in the second quarter of 2022 when sales were deemed probable.

14100000

52600000

26000000

Property and EquipmentProperty and equipment is stated at cost less accumulated depreciation and amortization. Maintenance and repairs are charged to expense as incurred. Interest costs incurred during the construction of major capital projects are capitalized until the underlying asset is ready for its intended use, at which point the capitalized interest costs are amortized as depreciation or amortization expense over the life of the underlying asset. When the Company disposes of property and equipment, it removes the associated cost and accumulated depreciation from the related accounts in the consolidated balance sheets and include any resulting gain or loss in the consolidated statements of operations. Eligible costs of internal use software and implementation costs of certain hosting arrangements are capitalized and amortized over the estimated useful life of the software or associated hosting arrangement, as applicable. Depreciation and amortization are recognized using the straight-line method over the following estimated useful lives:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:66.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:30.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:66.51%;background:#cceeff;margin:0pt;padding:0pt;">Computer equipment and software</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:30.5%;background:#cceeff;margin:0pt;padding:0pt;">3 - 7 years</td></tr><tr><td style="vertical-align:bottom;width:66.51%;margin:0pt;padding:0pt;">Furniture and fixtures</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:30.5%;margin:0pt;padding:0pt;">5 years</td></tr><tr><td style="vertical-align:bottom;width:66.51%;background:#cceeff;margin:0pt;padding:0pt;">Machinery and equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:30.5%;background:#cceeff;margin:0pt;padding:0pt;">5 years</td></tr><tr><td style="vertical-align:bottom;width:66.51%;margin:0pt;padding:0pt;">Leasehold improvements</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:30.5%;margin:0pt;padding:0pt;">Shorter of lease term or useful life</td></tr></table>

P3Y

P7Y

P5Y

Goodwill and Intangible AssetsGoodwill represents the excess of the consideration transferred over the fair value of net assets acquired in a business combination. Goodwill is not amortized but is evaluated for impairment on an annual basis, during the fourth quarter, or more frequently if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of the Company’s single reporting unit below its carrying amount.Acquired in-process research and development (“IPR&D”) that the Company acquires in conjunction with the acquisition of a business represents the fair value assigned to incomplete research projects which, at the time of acquisition, have not reached technological feasibility. The amounts are capitalized and are accounted for as indefinite-lived intangible assets, subject to impairment testing until completion or abandonment of the projects. Upon successful completion of each IPR&D project, the Company will commence amortization over the useful life of the intangible asset, which will generally be determined by the period in which the substantial majority of the cash flows are expected to be generated. The Company evaluates IPR&D for impairment on an annual basis, during the fourth quarter, or more frequently if impairment indicators exist.Finite-lived intangible assets are generally amortized on a straight-line basis over their estimated economic life and are reviewed periodically for impairment. The amortization expense related to capitalized milestone payments under license agreements and the amortization expense from out-licenses are recorded as a component of cost of goods sold in the consolidated statements of operations. The estimated life for capitalized milestone payments is ten years, and the life for acquired out-licenses is fifteen years.

P10Y

P15Y

Impairment of Long-Lived AssetsLong-lived assets, including property and equipment and finite-lived intangible assets, are reviewed for impairment whenever facts or circumstances either internally or externally may indicate that the carrying value of an asset may not be recoverable. If there is an indication of impairment, the Company tests for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of the asset to the carrying amount of the asset or asset group. If the asset or asset group is determined to be impaired, any excess of the carrying value of the asset or asset group over its estimated fair value is recognized as an impairment loss.

Accrued Research and Development ExpenseClinical trial costs are a component of research and development expense. The Company accrues and expenses clinical trial activities performed by third parties based upon actual work completed in accordance with agreements established with clinical research and manufacturing organizations and clinical sites. The Company determines the actual costs through monitoring patient enrollment, discussions with internal personnel and external service providers regarding the progress or stage of completion of trials or services and the agreed-upon fee to be paid for such services. Revenue Purchase and Sale AgreementThe Revenue Purchase and Sale Agreement (see Note 8. Financial Liabilities) contains the Royalty Fee Derivative Liability that meets the criteria to be bifurcated and accounted for separately from the Revenue Purchase and Sale Agreement. The Royalty Fee Derivative Liability was recorded at fair value upon entering into the Revenue Purchase and Sale Agreement and is subsequently remeasured to fair value at each reporting period with the corresponding change in fair value recognized in other income (expense), net in the consolidated statements of operations. The Revenue Purchase and Sale Agreement was initially valued and is remeasured using Monte Carlo simulation models to perform the “with-and-without” method, which involves valuing the Revenue Purchase and Sale Agreement with the embedded derivative and then valuing it without the embedded derivative. The difference between values is determined to be the estimated fair value of the Royalty Fee Derivative Liability. Refer to Note 3. Fair Value Measurements for details regarding the fair value.The Revenue Purchase and Sale Agreement is accounted for as a liability net of a discount comprising issuance costs and the fair value of the embedded derivative requiring bifurcation. The Company imputes interest expense associated with this liability using the effective interest rate method on a prospective basis. The effective interest rate is calculated based on the rate that would enable the liability to be repaid in full over the anticipated life of the arrangement. Interest expense is recognized over the estimated term on the consolidated statement of operations. The interest rate on this revenue participation liability may vary during the term of the agreement depending on a number of factors, including the level of actual and forecasted net sales. Increases or decreases in forecasted net sales could have a significant impact on the revenue participation liability, interest expense, and the time period for repayment. If the UDENYCA Sale is consummated, the Company plans to use a portion of the proceeds to pay off the 2026 Convertible Notes and buy out certain royalty obligations related to UDENYCA pursuant to the Revenue Purchase and Sale Agreement. Contingent ConsiderationContingent consideration primarily relates to the potential payments to holders of the CVRs that are contingent upon the achievement of the Company and certain third-parties meeting product development or financial performance milestones. For transactions accounted for as business combinations, the Company records contingent consideration at fair value at the date of the acquisition based on the consideration expected to be transferred. Liabilities for contingent consideration are remeasured each reporting period and subsequent changes in fair value are recognized within loss from operations in the consolidated statements of operations. The assumptions utilized in the calculation of the fair values include probability of success and the discount rates. Contingent consideration involves certain assumptions requiring significant judgment and actual results may differ from estimated amounts.

Net Revenues The Company sells to wholesalers and distributors, (collectively, “Customers”). The Customers then resell to hospitals and clinics (collectively, “Healthcare Providers”) pursuant to contracts with the Company. In addition to distribution agreements with Customers and contracts with Healthcare Providers, the Company enters into arrangements with group purchasing organizations (“GPOs”) that provide for United States government-mandated or privately negotiated rebates, chargebacks and discounts. The Company also enters into rebate arrangements with payers, which consist primarily of commercial insurance companies and government entities, to cover the reimbursement of products to Healthcare Providers. The Company provides co-payment assistance to patients who have commercial insurance and meet certain eligibility requirements. Revenue from product sales is recognized at the point when a Customer obtains control of the product and the Company satisfies its performance obligation, which generally occurs at the time product is shipped to the Customer. Payment terms differ by jurisdiction and customer, but payment terms typically range from 30 to approximately 80 days from date of shipment and may be extended during the launch period of a new product. Product Sales Discounts and AllowancesRevenue from product sales is recorded at the net sales price (“transaction price”), which includes estimates of variable consideration for which reserves are established and that result from chargebacks, rebates, co-pay assistance, prompt-payment discounts, returns and other allowances that are offered within contracts between the Company and its Customers, Healthcare Providers, payers and GPOs. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as reductions in trade receivables (if the amounts are payable to a Customer) or current and non-current liabilities (if the amounts are payable to a party other than a Customer). Where appropriate, these estimates take into consideration a range of possible outcomes that are probability-weighted for relevant factors such as historical experience, current contractual and statutory requirements, specifically known market events and trends, industry data and forecasted Customer buying and payment patterns. Overall, these reserves reflect the best estimates of the amount of consideration to which the Company is entitled based on the terms of its contracts. The amount of variable consideration that is included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. The actual amount of consideration ultimately received may differ. If actual results in the future vary from the Company’s estimates, the estimates will be adjusted, which will affect net product revenue in the period that such variances become known.Chargebacks: Chargebacks are discounts that occur when Healthcare Providers purchase directly from a Customer. Healthcare Providers, which belong to Public Health Service institutions, non-profit clinics, government entities, GPOs, and health maintenance organizations, generally purchase the product at a discounted price. The Customer, in turn, charges back to the Company the difference between the price initially paid by the Customer and the discounted price paid by the Healthcare Providers to the Customer. The allowance for chargebacks is based on an estimate of sales through to Healthcare Providers from the Customer.Discounts for Prompt Payment: The Company provides for prompt payment discounts to its Customers, which are recorded as a reduction in revenue in the same period that the related product revenue is recognized.Rebates: Rebates include mandated discounts under the Medicaid Drug Rebate Program, other government programs and commercial contracts. Rebate amounts owed after the final dispensing of the product to a benefit plan participant are based upon contractual agreements or legal requirements with these public sector benefit providers. The accrual for rebates is based on statutory or contractual discount rates and expected utilization. The estimates for the expected utilization of rebates are based on Customer and commercially available payer data, as well as data collected from the Healthcare Providers, Customers, GPOs, and historical utilization rates. Rebates invoiced by payers, Healthcare Providers and GPOs are paid in arrears. If actual future rebates vary from estimates, the Company may need to adjust its accruals, which would affect net product revenue in the period of adjustment.Co-payment Assistance: Patients who have commercial insurance and meet certain eligibility requirements may receive co-payment assistance. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to receive associated with product that has been recognized as revenue.Product Returns: The Company offers its Customers limited product return rights, which are principally based upon whether the product is damaged or defective, or the product’s expiration date. Other Allowances: The Company pays fees to Customers and GPOs for account management, data management and other administrative services. To the extent that the services received are distinct from the sale of products to the customer, these payments are classified in selling, general and administrative expense in the Company’s consolidated statements of operations, otherwise they are included as a reduction in product revenue.Royalty RevenueRoyalty revenue from licensees, which is based on sales to third parties of licensed products, is recorded when the third-party sale occurs and the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Royalty revenue was immaterial for all periods presented and is included in net revenue.

Payment terms differ by jurisdiction and customer, but payment terms typically range from 30 to approximately 80 days from date of shipment and may be extended during the launch period of a new product.

P30D P80D

Cost of Goods SoldCost of goods sold consists primarily of third-party manufacturing, distribution, certain overhead costs, royalties on certain products, and charges for inventory write-downs.On May 2, 2019, the Company and Amgen settled a trade secret action brought by Amgen. As a result, cost of goods sold reflected a mid-single digit royalty on UDENYCA net product revenue from July 1, 2019 to July 1, 2024. Additionally, prior to the CIMERLI Sale, the Company shared a percentage of gross profits on sales of the Company’s biosimilar version of ranibizumab (Lucentis) in certain dosage forms in both a vial and pre-filled syringe presentation (the “Bioeq Licensed Products”) in the United States with Bioeq in the low- to mid-fifty percent range. The Company incurs royalties on net sales of LOQTORZI in the low twenty percent range and, prior to the YUSIMRY Sales Transaction, incurred royalties on net sales of YUSIMRY in the mid-single digit range. Pursuant to the license agreement with Genentech and Bioeq dated June 22, 2022, the Company incurred a royalty that was a low single-digit percentage of net sales of CIMERLI through the end of 2023.In 2024, 2023 and 2022, cost of goods sold included inventory write-downs, net of $14.1 million, $52.6 million and $26.0 million, respectively.

0.50 0.20

14100000

52600000

26000000

Research and Development ExpenseResearch and development expense represents costs incurred to conduct research, such as the discovery and development of product candidates. The Company recognizes all research and development costs as they are incurred. The Company currently tracks research and development costs incurred on a product candidate basis only for external research and development expenses. The Company’s external research and development expense consists primarily of:<table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">expense incurred under agreements with collaborators, consultants, third-party CROs, and investigative sites where a substantial portion of the Company’s preclinical studies and all of its clinical trials are conducted;</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">costs of acquiring originator comparator materials and manufacturing preclinical study and clinical trial supplies and other materials from CMOs, and related costs associated with release and stability testing;</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">costs associated with manufacturing process development activities, analytical activities and pre-launch inventory manufactured prior to regulatory approval being obtained or deemed to be probable; and</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">option and certain milestone payments related to licensing and collaboration agreements.</td></tr></table><div style="margin-top:12pt;"></div>Internal costs are associated with activities performed by the Company’s research and development organization and generally benefit multiple programs. These costs are not separately allocated by product candidate. Unallocated, internal research and development costs consist primarily of:<table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">personnel-related expense, which include salaries, benefits and stock-based compensation; and</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">facilities and other allocated expense, which include direct and allocated expense for rent and maintenance of facilities, depreciation and amortization of leasehold improvements and equipment, laboratory and other supplies.</td></tr></table><div style="margin-top:12pt;"></div>

License AgreementsThe Company has entered and may continue to enter into license agreements to access and utilize certain technology. To determine whether the licensing transactions should be accounted for as a business combination or as an asset acquisition, the Company makes certain judgments, which include assessing whether the acquired set of activities and assets would meet the definition of a business under the relevant accounting rules.If the acquired set of activities and assets does not meet the definition of a business, the transaction is recorded as an asset acquisition and therefore, any acquired IPR&D that does not have an alternative future use is charged to expense at the acquisition date. To date none of the Company’s license agreements have been considered to be the acquisition of a business.

Selling, General and Administrative ExpenseSelling, general and administrative expense comprises primarily compensation and benefits associated with sales and marketing, finance, human resources, legal, information technology and other administrative personnel, outside marketing, advertising and legal expenses and other general and administrative costs. The Company expenses the cost of advertising, including promotional expenses, as incurred. Advertising expenses were $10.9 million, $10.9 million and $10.5 million in 2024, 2023 and 2022, respectively.

10900000

10500000

Stock-Based CompensationThe Company’s compensation programs include stock-based awards. For awards other than condition-based performance stock options, the fair values are recognized as compensation expense on a straight-line basis over the vesting period. For condition-based performance stock options, expense is recognized only when performance conditions are considered probable of being achieved and is recognized over the period from the grant date through the time the milestone is expected to be achieved. The related costs are recorded in cost of goods sold, research and development, and selling, general and administrative expense, as appropriate. The Company accounts for forfeitures as they occur. The Company accounts for stock issued in connection with business combinations based on the fair value of the Company’s common stock on the date of issuance.

Income TaxesThe Company utilizes the liability method of accounting for deferred income taxes. Under this method, deferred tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. A valuation allowance is established against deferred tax assets when, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company’s policy is to record interest and penalties on uncertain tax positions as income tax expense.The Company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by the relevant taxing authority. The Company does not expect its unrecognized tax benefits from prior years to change significantly in 2025.

Operating and Finance LeasesThe Company determines at an arrangement’s inception whether it is a lease. The Company does not recognize right-of-use assets and lease liabilities related to short-term leases. The Company also does not separate lease and non-lease components for its facility and vehicle leases. Operating leases are included in accrued and other current liabilities, other assets, non-current, and lease liabilities, non-current in the consolidated balance sheets. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise any such options. The Company recognizes operating lease expense for these leases on a straight-line basis over the lease term.The terms of vehicles leased under the Company’s fleet agreement (“Vehicle Lease Agreement”) were 36 months. The vehicles leased under this arrangement were classified as finance leases. Finance leases are included in property and equipment, net, accrued and other current liabilities, and lease liabilities, non-current in the consolidated balance sheets. Assets under finance leases are depreciated to operating expenses on a straight-line basis over the lease term. As of December 31, 2024, the Company has fully satisfied its finance lease obligations and no longer has any related right-of-use assets or lease liabilities on its consolidated balance sheets. The operating lease right-of-use assets and the lease liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The Company uses its incremental borrowing rate based on the information available at the commencement date or the lease modification date, as applicable, in determining the lease liabilities as the Company's leases generally do not provide an implicit rate.

P36M

Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive common shares. Diluted net income per share is computed by dividing the net income by the weighted average number of common shares outstanding for the period plus any diluted potential common shares outstanding for the period determined using the treasury stock method for options, PSOs, restricted stock units (“RSUs”) and ESPP and using the if-converted method for the convertible notes. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period, without consideration for any potential dilutive common share equivalents as their effect would be antidilutive (see Note 14. Net Income (Loss) Per Share).

Comprehensive Income (Loss) Comprehensive income (loss) includes the following two components: net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to gains and losses that are recorded as an element of stockholders’ equity (deficit), but are excluded from net income (loss). The Company’s other comprehensive income (loss) includes the unrealized gain (loss) on available-for-sale securities and foreign currency translation adjustments in 2024, 2023 and 2022.

Restructuring ChargesOn March 3, 2023, the Company committed to a plan to reduce its workforce to focus resources on strategic priorities including the commercialization of its diversified product portfolio and development of innovative immuno-oncology product candidates. The reduction in force impacted approximately 50 full-time and part-time employees, effective March 10, 2023 for most of these employees. In the first quarter of 2023, non-recurring restructuring charges associated with the reduction in force consisted of $3.9 million in cash expenses related to personnel expenses such as salaries, severance payments and other benefits; and $1.5 million in non-cash stock-based compensation related to acceleration of vesting and extension of the stock option exercise windows for two impacted executives; partially offset by $0.5 million in non-cash stock-based compensation forfeiture credits. The reduction in force was completed during the second quarter of 2023.For the year ended December 31, 2023, the consolidated statements of operations included $3.6 million in research and development expense and $1.3 million in selling, general and administrative expense related to the reduction in force.

3900000

1500000

500000

3600000

1300000

ReclassificationsCertain amounts in prior years’ financial statements have been reclassified to conform with the current year presentation in 2024, including amounts in the consolidated statements of cash flows. There were no changes to net cash used in operating activities and net cash provided by (used in) investing activities in the consolidated statements of cash flows for the prior years as a result.

Recent Accounting PronouncementsIn November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 was adopted on a retrospective basis as of December 31, 2024, and it did not change the way that the Company identifies its reportable segments. The adoption did not have a material impact on the Company’s segment-related disclosures.The following are recent accounting pronouncements that the Company has not yet adopted:In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which provides qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid. The new standard is effective for the Company for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in this ASU should be applied prospectively; however, retrospective application is also permitted. The Company is currently evaluating the impact this ASU may have on its financial statement disclosures.In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires public entities to disclose certain disaggregated costs and expenses on an annual and interim basis in the notes to the financial statements. It also requires disclosure of the total amount of selling expenses, and the Company’s definition of selling expenses. The new standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and is effective on either a prospective or retrospective basis. The Company is currently evaluating the impact this ASU may have on its financial statement disclosures.In November 2024, the FASB issued ASU 2024-04, Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishments of convertible debt. The new standard is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. The Company is currently evaluating the impact this ASU may have on its financial statement disclosures.The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business or that no material effect is expected on the consolidated financial statements as a result of future adoption.

205951000

127064000

203814000

27079000

125388000

6946000

7541000

3574000

19131000

554000

259702000

256580000

210760000

7258000

664000

282000

266960000

257244000

211042000

0.42

0.40

0.38

0.43

0.44

0.18

0.15

0.17

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.1%;margin:0pt;padding:0pt;">Chargebacks</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.1%;margin:0pt;padding:0pt;">Other Fees,</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.1%;margin:0pt;padding:0pt;">and Discounts</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.1%;margin:0pt;padding:0pt;">Co-pay</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.1%;margin:0pt;padding:0pt;">for Prompt</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.1%;margin:0pt;padding:0pt;">Assistance</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:14.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Payment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Rebates</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">and Returns</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;">Balances at December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;margin:0pt;padding:0pt;"> 29,665</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 54,004</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 26,054</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;margin:0pt;padding:0pt;"> 109,723</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">Provision related to sales made in:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;"> Current period</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;margin:0pt;padding:0pt;"> 436,865</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 68,399</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 73,435</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;margin:0pt;padding:0pt;"> 578,699</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"> Prior period - increase (decrease)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"> (2,090)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> (1,050)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> 32</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"> (3,108)</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;">Payments and customer credits issued</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (421,763)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (82,640)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (80,408)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (584,811)</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">Balances at December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 42,677</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,713</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,113</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 100,503</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;">Provision related to sales made in:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"> Current period</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"> 590,772</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> 143,370</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> 110,183</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"> 844,325</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;"> Prior period - increase (decrease)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;margin:0pt;padding:0pt;"> (1,361)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 1,424</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 3,744</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;margin:0pt;padding:0pt;"> 3,807</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">Payments and customer credits issued</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (558,135)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (62,370)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (83,245)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (703,750)</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;">Balances at December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 73,953</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 121,137</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 49,795</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 244,885</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">Provision related to sales made in:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;"> Current period</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;margin:0pt;padding:0pt;"> 912,079</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 189,309</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;margin:0pt;padding:0pt;"> 145,533</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;margin:0pt;padding:0pt;"> 1,246,921</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;"> Prior period - increase (decrease)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;margin:0pt;padding:0pt;"> (990)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> 7,391</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;margin:0pt;padding:0pt;"> (2,571)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;margin:0pt;padding:0pt;"> 3,830</td></tr><tr><td style="vertical-align:bottom;width:49.11%;background:#cceeff;margin:0pt;padding:0pt;">Payments and customer credits issued</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (874,264)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (194,099)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (151,628)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,219,991)</td></tr><tr><td style="vertical-align:bottom;width:49.11%;margin:0pt;padding:0pt;">Balances at December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 110,778</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 123,738</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 41,129</td><td style="vertical-align:bottom;white-space:nowrap;width:1.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.04%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 275,645</td></tr></table> 29665000 54004000 26054000 109723000 436865000 68399000 73435000 578699000 -2090000 -1050000 32000 -3108000 421763000 82640000 80408000 584811000 42677000 38713000 19113000 100503000 590772000 143370000 110183000 844325000 -1361000 1424000 3744000 3807000 558135000 62370000 83245000 703750000 73953000 121137000 49795000 244885000 912079000 189309000 145533000 1246921000 -990000 7391000 -2571000 3830000 874264000 194099000 151628000 1219991000 110778000 123738000 41129000 275645000

6800000

10600000

3800000

500000

900000

9200000

13600000

4400000

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:52.82%;margin:0pt;padding:0pt;">Fair Value Measurements</td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="11" style="vertical-align:bottom;white-space:nowrap;width:52.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:bottom;width:45.01%;background:#cceeff;margin:0pt;padding:0pt;">Financial Assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;">Cash equivalents</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 125,549</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 125,549</td></tr><tr><td style="vertical-align:bottom;width:45.01%;background:#cceeff;margin:0pt;padding:0pt;">Financial Liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;">Royalty Fee Derivative Liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;margin:0pt;padding:0pt;"> 13,620</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"> 13,620</td></tr><tr><td style="vertical-align:bottom;width:45.01%;background:#cceeff;margin:0pt;padding:0pt;">Contingent consideration</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 632</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 632</td></tr><tr><td style="vertical-align:bottom;width:45.01%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.26%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,252</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,252</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th colspan="11" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:53.18%;margin:0pt;padding:0pt;">Fair Value Measurements</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th colspan="11" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:53.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2023</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">(in thousands)</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"> </th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:11.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 1</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:11.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 2</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:11.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level 3</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:11.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;background:#cceeff;margin:0pt;padding:0pt;">Financial Assets:</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"> </th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">Cash equivalents(1)</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> 88,460</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> 998</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"> 89,458</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;background:#cceeff;margin:0pt;padding:0pt;">Marketable debt securities:</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">U.S. government agency securities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> 5,195</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"> 5,195</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;background:#cceeff;margin:0pt;padding:0pt;">U.S. treasury securities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"> 2,993</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"> 2,993</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">Commercial paper and corporate notes</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> 6,669</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;margin:0pt;padding:0pt;"> 6,669</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid financial instrument in Prepaid manufacturing(2)</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 625</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 625</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">Total</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 96,648</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7,667</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 625</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 104,940</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;background:#cceeff;margin:0pt;padding:0pt;">Financial Liabilities:</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;background:#cceeff;margin:0pt;padding:0pt;"></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:44.58%;margin:0pt;padding:0pt;">Contingent consideration</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.21%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,472</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,472</th></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:3pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Cash equivalents consist of money market funds, U.S treasury securities, and commercial paper and corporate notes with original maturities of 90 days or less.</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Relates to Optional Stock Purchase Agreement.</td></tr></table><div style="margin-top:9pt;"></div>

125549000

13620000

632000

14252000

88460000

998000

89458000

5195000

2993000

6669000

625000

96648000

7667000

625000

104940000

4472000

125549000

79484000

5200000

5000

5195000

11967000

2000

11969000

7673000

6000

7667000

104324000

2000

11000

104315000

P1Y P9M

18014000

12975000

83170000

82588000

12686000

34537000

113870000

130100000

14100000

16400000

17000000

47000000

20500000 11500000

9000000

70094000

62605000

43776000

67495000

113870000 130100000 11600000 5300000 6400000 23700000 12600000 6400000 500000 11100000

13437000

13124000

3582000

3546000

1055000

5751000

2294000

23825000

25770000

20988000

20651000

2837000

5119000

1800000

3200000

3600000

2000000

3200000

2719000

639000

24787000

41871000

28859000

943000

53646000

71673000

3400000

2700000

P9Y4M24D

2100000

900000

10600000

12449000 23470000 12500000 26812000

1498000

42031000

13620000

1148000

17382000

7628000

1691000 2145000

3300000

60288000

105386000

632000

1172000

1102000

27595000

10287000

29329000

12561000

6. Acquisition and Dispositions 2024 DispositionsUDENYCA Sale (subject to closing) On December 2, 2024, the Company and Intas entered into the UDENYCA Purchase Agreement, pursuant to which, and upon the terms and subject to the conditions thereof, the Company has agreed to divest the UDENYCA Business to Intas. As consideration for the UDENYCA Sale, Intas has agreed to pay the Company $483.4 million in cash, inclusive of $118.4 million of UDENYCA product inventory, subject to downward adjustment by the amount of inventory delivered at the closing of the UDENYCA Sale less than the Inventory Target. Intas has designated Accord to purchase the physical assets, including product inventory. In addition, upon the achievement of certain contingent events by Intas, the Company is also eligible to receive two additional Earnout Payments of $37.5 million each, provided that certain minimum UDENYCA Net Sales thresholds are met during specified periods after the closing of the UDENYCA Sale. If the UDENYCA Sale is consummated, the Company plans to use a portion of the proceeds to pay off the 2026 Convertible Notes and buy out certain royalty obligations related to UDENYCA pursuant to the Revenue Purchase and Sale Agreement.Closing of the UDENYCA Sale is not subject to a financing condition, but is subject to closing conditions, including (i) approval of the Company’s stockholders, which has occurred, (ii) the expiration or earlier termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, which has occurred, (iii) clearance from Committee on Foreign Investment in the United States or any member agency thereof acting in its capacity as a member agency, which has occurred, and (iv) certain additional closing conditions related to packaging by the Company’s packaging and labeling CMOs for UDENYCA and FDA authorization of commercial supply from the Company’s additional packaging and labeling CMO for UDENYCA.The Company anticipates the transactions contemplated by the UDENYCA Purchase Agreement to close late in the first quarter or early in the second quarter of 2025. Costs of $6.7 million related to the UDENYCA Sale were recorded in selling, general and administrative expense in the consolidated statements of operations during the year ended December 31, 2024.YUSIMRY SaleOn June 26, 2024, the Company completed the sale of its YUSIMRY immunology franchise which comprised certain assets, including certain YUSIMRY intellectual property, contracts, YUSIMRY inventory, and all activities related to research and development of YUSIMRY. In exchange, HKF paid upfront cash consideration of $40.0 million and assumed certain liabilities, including $17.0 million of inventory purchase commitments. During 2024, the Company recognized a net gain on the YUSIMRY Sale of $22.8 million, which included the cash receipts of $40.0 million less net assets transferred to HKF or otherwise derecognized and transaction costs of $1.0 million. At December 31, 2024, unpaid transaction costs totaled $0.9 million. The pretax profit (loss) related to the YUSIMRY immunology franchise, which excludes any corporate overhead allocations, was $(3.1) million, $(59.7) million and $(34.4) million during the years ended December 31, 2024, 2023 and 2022, respectively.In connection with the YUSIMRY Sale, the Company and HKF entered into the YUSIMRY TSA, pursuant to which the Company is providing certain business support services on behalf of HKF including billings, collections, and the remittance of rebates, to ensure business continuity for patients and customers and were substantially completed by December 31, 2024. Under the YUSIMRY TSA, the Company is entitled to be reimbursed for its costs and has recorded income of $0.8 million for the year ended December 31, 2024 in other income (expense), net in the consolidated statements of operations. As of December 31, 2024, assets of $2.3 million and liabilities of $4.3 million related to transactions entered into on behalf of HKF in accordance with the YUSIMRY TSA were presented in TSA receivables, net and TSA payables and other accrued liabilities, respectively, in the consolidated balance sheets.CIMERLI SaleOn March 1, 2024, the Company completed the sale of its CIMERLI ophthalmology franchise through the sale of its subsidiary, Coherus Ophthalmology, to Sandoz for upfront, all-cash consideration of $170.0 million plus an additional $17.8 million for CIMERLI product inventory and prepaid manufacturing assets. During 2024, the Company recognized a net gain on the CIMERLI Sale of $153.8 million, which included the cash receipts of $187.8 million less assets transferred to Sandoz, assets derecognized, transaction costs of $7.2 million, and other related employee transition expenses. As of December 31, 2024, unpaid commitments for retention bonuses totaled $4.7 million. The pretax profit (loss) related to the CIMERLI ophthalmology franchise, which excludes any corporate overhead allocations, was $2.4 million, $16.6 million and $(16.7) million during the years ended December 31, 2024, 2023 and 2022, respectively.In connection with the CIMERLI Sale, the Company and Sandoz entered into the CIMERLI TSA, pursuant to which the Company is providing certain business support services on behalf of Sandoz including billings, collections, and the remittance of rebates, to ensure business continuity for patients and customers for a period not expected to extend beyond July 15, 2025. Under the CIMERLI TSA, the Company is entitled to be reimbursed for its costs and has recorded income of $1.7 million for the year ended December 31, 2024 in other income (expense), net in the consolidated statements of operations. As of December 31, 2024, assets related to transactions entered into on behalf of Sandoz in accordance with the CIMERLI TSA of $8.7 million were presented in TSA receivables, net and liabilities related to transactions entered into on behalf of Sandoz in accordance with the CIMERLI TSA of $6.8 million were presented in TSA payables and other accrued liabilities in the consolidated balance sheets.2023 AcquisitionSurface AcquisitionOn September 8, 2023 (the “Acquisition Date”), in accordance with an Agreement and Plan of Merger dated June 15, 2023 (the “Merger Agreement”) by and among the Company, Crimson Merger Sub I, Inc. (“Merger Sub I”), Crimson Merger Sub II, LLC (“Merger Sub II,” and together with Merger Sub I, the “Merger Subs”) and Surface, the Company completed the Surface Acquisition. The Surface Acquisition expanded the Company’s immuno-oncology pipeline by adding important new assets, including: casdozokitug (CHS-388, formerly SRF388), an investigational, novel IL-27-targeted antibody, and CHS-114 (formerly SRF114), an investigational, CCR8-targeted antibody.On the Acquisition Date, and in accordance with the Merger Agreement, the Company issued to the holders of all outstanding Surface common stock (subject to certain exceptions) 0.1960 shares of Coherus common stock in exchange for each share of outstanding Surface common stock and certain outstanding Surface employee equity awards. The exchange ratio was calculated pursuant to the terms of the Merger Agreement and was based on a $5.2831 per share price of Coherus common stock and a nominal total amount of cash in lieu of fractional shares. Surface shareholders also received one CVR for each share of Surface common stock and employee equity award converted. Each CVR entitles the holder to receive quarterly contingent payments in the form of cash, stock or a combination of cash and stock at the Company’s discretion during the ten-year period following September 8, 2023, for the sum of the following, less any permitted deductions in accordance with the CVR Agreement:<table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">70% of all milestone- and royalty-based payments received by the Company or its affiliates under the GSK Agreement related to the program GSK4381562;</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:9pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">25% of any upfront payment received by the Company or its affiliates pursuant to potential ex-U.S. licensing agreements for CHS-114; and</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">50% of any upfront payment received by the Company or its affiliates pursuant to potential ex-U.S. licensing agreements for casdozokitug.</td></tr></table>The Company has recorded a contingent consideration liability for the fair value of the potential payments under the CVR Agreement described above. The Company is unable to estimate a range of outcomes for potential royalty and milestone payments for CHS-114 and casdozokitug.The total consideration paid for the Surface Acquisition of $64.6 million consisted of the following:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:78.15%;margin:0pt;padding:0pt;">(in thousands, except share and per share amounts) </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"></th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:18.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of Acquisition Date</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;background:#cceeff;margin:0pt;padding:0pt;">Coherus common stock issued</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;background:#cceeff;margin:0pt;padding:0pt;"> 11,971,460</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;margin:0pt;padding:0pt;">Coherus common stock share price</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;margin:0pt;padding:0pt;"> 4.89</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;background:#cceeff;margin:0pt;padding:0pt;"></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;margin:0pt;padding:0pt;">Fair value of components of purchase price consideration at closing:</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;margin:0pt;padding:0pt;"></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity of combined company owned by Surface equity holders</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;background:#cceeff;margin:0pt;padding:0pt;"> 58,540</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;margin:0pt;padding:0pt;">Contingent CVR liability</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;margin:0pt;padding:0pt;"> 5,290</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity of combined company owned by Surface former employees (1)</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 766</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:78.15%;margin:0pt;padding:0pt;">Fair value of total purchase consideration</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:3.36%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:16.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 64,596</th></tr></table><div style="margin-top:6pt;"></div><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Represents 161,100 shares of Coherus common stock, net of shares withheld for taxes, issued to Surface’s former employees on the Acquisition Date.</td></tr></table><div style="margin-top:12pt;"></div>The following table below sets forth the purchase price allocation to the estimated fair value of the net assets acquired:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:70.03%;margin:0pt;padding:0pt;">(in thousands) </td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:26.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amounts Recognized at Acquisition Date</td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">Assets Acquired</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Cash and cash equivalents</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;margin:0pt;padding:0pt;"> 6,997</td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">Investments in marketable securities</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;margin:0pt;padding:0pt;"> 21,791</td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Other prepaids and other assets</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;margin:0pt;padding:0pt;"> 5,260</td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">In-process research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;margin:0pt;padding:0pt;"> 26,239</td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Out-licenses</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 13,530</td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">Total assets</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 73,817</td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Liabilities Assumed</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">Accrued and other current liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;margin:0pt;padding:0pt;"> 7,722</td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Deferred tax liability</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,499</td></tr><tr><td style="vertical-align:bottom;width:70.03%;background:#cceeff;margin:0pt;padding:0pt;">Total liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,221</td></tr><tr><td style="vertical-align:bottom;width:70.03%;margin:0pt;padding:0pt;">Total net assets acquired</td><td style="vertical-align:bottom;white-space:nowrap;width:3.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:25.38%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 64,596</td></tr></table>The Company believes that, even after reassessing its identification of all assets acquired and liabilities assumed, it was able to acquire Surface for a price that was completely allocable to identifiable assets acquired and liabilities assumed with no residual attributable to goodwill primarily due to Surface’s need to raise additional capital to finance its operations, the challenging biotech funding environment at the time the transaction was initially announced, and the value of the acquired net assets.The amounts allocated to identifiable intangible assets was as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:63.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:63.43%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Useful lives</td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value at Acquisition Date</td></tr><tr><td style="vertical-align:bottom;width:63.43%;background:#cceeff;margin:0pt;padding:0pt;">In-process research and development - casdozokitug</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;background:#cceeff;margin:0pt;padding:0pt;">n/a</td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;background:#cceeff;margin:0pt;padding:0pt;"> 25,899</td></tr><tr><td style="vertical-align:bottom;width:63.43%;margin:0pt;padding:0pt;">In-process research and development - CHS-114</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;margin:0pt;padding:0pt;">n/a</td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;margin:0pt;padding:0pt;"> 340</td></tr><tr><td style="vertical-align:bottom;width:63.43%;background:#cceeff;margin:0pt;padding:0pt;">Out-license - GSK</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;background:#cceeff;margin:0pt;padding:0pt;">15 years</td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;background:#cceeff;margin:0pt;padding:0pt;"> 2,506</td></tr><tr><td style="vertical-align:bottom;width:63.43%;margin:0pt;padding:0pt;">Out-license - Novartis Institutes</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;margin:0pt;padding:0pt;">15 years</td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,024</td></tr><tr><td style="vertical-align:bottom;width:63.43%;background:#cceeff;margin:0pt;padding:0pt;">Total identifiable intangible assets</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.25%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:20.5%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,769</td></tr></table>The out-license intangible assets represent potential milestone and royalty-based payments to be received under two out-licensed partnership programs to advance certain next-generation cancer therapies, Novartis Institutes (NZV930) and GSK (GSK4381562). Surface shareholders received CVRs for certain percentages of these milestone and royalty-based payments, as further explained above. The exclusive license of NZV930 to Novartis Institutes was terminated by Novartis Institutes with an effective date of October 2, 2024. As a result, during the first quarter of 2024, the Company recognized a net impairment charge of $6.8 million in selling, general and administrative expenses in the consolidated statements of operations relating to the write-off of the net carrying value of the Novartis Institutes out-license intangible asset of $10.6 million and the final remeasurement of the CVR liability related to NZV930 of $3.8 million to its fair value of zero. Unaudited Pro Forma Summary of OperationsThe following table shows the unaudited pro forma summary of operations for the years ended December 31, 2023 and 2022, as if the Surface Acquisition had occurred on January 1, 2022. This pro forma information does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of January 1, 2022, and it is not indicative of what such results would be expected for any future period: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:60.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:16.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:14.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:60.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.35%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:37.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;width:60.54%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:14.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:60.54%;background:#cceeff;margin:0pt;padding:0pt;">Total revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.75%;background:#cceeff;margin:0pt;padding:0pt;"> 257,244</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;background:#cceeff;margin:0pt;padding:0pt;"> 241,042</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.54%;margin:0pt;padding:0pt;">Net loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.75%;margin:0pt;padding:0pt;"> (284,575)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.49%;margin:0pt;padding:0pt;"> (369,442)</td></tr></table>The unaudited pro forma financial information was prepared using the acquisition method of accounting and was based on the historical financial information of the Company and Surface. In order to reflect the Surface Acquisition as if it had occurred on January 1, 2022, the summary pro forma financial information includes adjustments to reflect Surface’s severance expense, the early termination and related amortization expense of Surface’s corporate headquarters operating lease, the loss on debt extinguishment and historical interest expense related to the cash settlement of Surface’s convertible note as if it had occurred on January 1, 2022, and amortization expense on the acquired finite-lived intangible assets. The unaudited pro forma summary of operations does not reflect the income tax effects, if any, of the pro forma adjustments, given the combined entity incurred significant losses during the historical periods presented.Acquisition-related costs of $5.1 million were recorded in selling, general and administrative expense in the consolidated statements of operations during the year ended December 31, 2023.

483400000

118400000

2 37500000 6700000

40000000

17000000

22800000

40000000

1000000 900000

-3100000

-59700000

-34400000

800000 2300000 4300000

170000000

17800000

153800000

187800000

7200000 4700000

2400000

16600000

-16700000

1700000

8700000 6800000 0.196

5.2831

1 P10Y 0.70 0.25 0.50

64600000

11971460

4.89

58540000

5290000

766000

64596000

161100

6997000

21791000

5260000

26239000

13530000

73817000

7722000

1499000

9221000

64596000

25899000

340000

P15Y

2506000

P15Y

11024000

39769000

2 6800000

10600000

3800000

257244000

241042000

-284575000

-369442000

5100000

<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">7.</td><td style="padding:0pt;">Collaborations and Other Arrangements</td></tr></table>In-Licensing AgreementsJunshi BiosciencesOn February 1, 2021, the Company entered into the Collaboration Agreement with Junshi Biosciences for the co-development and commercialization of LOQTORZI, Junshi Biosciences’ anti-PD-1 antibody, in the United States and Canada.Under the terms of the Collaboration Agreement, the Company paid $150.0 million upfront for exclusive rights to LOQTORZI in the United States and Canada, an option in these territories to Junshi Biosciences’ anti-TIGIT antibody CHS-006, an option in these territories to a next-generation engineered IL-2 cytokine, and certain negotiation rights to two undisclosed preclinical immuno-oncology drug candidates. The Company became obligated to pay Junshi Biosciences up to an aggregate $380.0 million in one-time payments for the achievement of various regulatory and sales milestones, of which we have already paid $25.0 million, and a royalty in the low twenty percent range on net sales of LOQTORZI. In March 2022, the Company paid $35.0 million for the exercise of its option to license CHS-006. Thereafter, Junshi Biosciences and the Company jointly developed CHS-006 with each party responsible for the associated development costs as set forth in the Collaboration Agreement. However, on January 10, 2024, the Company announced that it delivered a notice of termination of the TIGIT Program (as defined in the Collaboration Agreement) to Junshi Biosciences pursuant to the Collaboration Agreement. The Company plans to continue to wind down work with Junshi Biosciences on the TIGIT Program pursuant to the termination. If the Company exercises its remaining option for the IL-2 cytokine, it will be obligated to pay Junshi Biosciences an additional option exercise fee of $35.0 million and an 18% royalty on net sales, up to $85.0 million for the achievement of certain regulatory approvals, and up to $170.0 million for the attainment of certain sales thresholds. Under the Collaboration Agreement, the Company retains the right to collaborate in the development of LOQTORZI and the other licensed compounds and will pay for a portion of these co-development activities up to a maximum of $25.0 million per licensed compound per year. Additionally, the Company is responsible for certain associated regulatory and technology transfer costs for LOQTORZI and other licensed compounds and will reimburse Junshi Biosciences for such costs. On October 27, 2023, LOQTORZI was approved by the FDA in combination with cisplatin and gemcitabine for the first-line treatment of adults with metastatic or recurrent locally advanced NPC, and as monotherapy for the treatment of adults with recurrent, unresectable, or metastatic NPC with disease progression on or after platinum-containing chemotherapy. As a result, a $25.0 million milestone payment became due to Junshi Biosciences in the first quarter of 2024 pursuant to the Collaboration Agreement. In March 2024, the Company entered into an Amendment No. 2 to the Collaboration Agreement (the “2nd Amendment”) with Junshi Biosciences to revise the timing of the $25.0 million milestone payment. Under the terms of the 2nd Amendment, the $25.0 million milestone payment was split into two installments of $12.5 million each, with one paid in the second quarter of 2024 and one paid in January of 2025.The licensing transaction and the exercise of the option were accounted for as asset acquisitions under the relevant accounting rules. During the year ended December 31, 2024, the Company recognized a reduction in research and development expenses for the release of certain liabilities of $4.8 million pursuant to the 2nd Amendment with Junshi Biosciences. Research and development expenses recognized for obligations to Junshi Biosciences were $8.0 million and $68.5 million (inclusive of the $35.0 million option fee) in 2023 and 2022, respectively. In the consolidated balance sheets as of December 31, 2024 and 2023, the Company classified $12.5 million and $25.0 million, respectively, in accrued and other current liabilities and $0.4 million and $6.3 million in accounts payable, respectively, related to the co-development, regulatory and technology transfer costs related to these programs. The accrued royalty obligation to Junshi Biosciences was $1.5 million as of December 31, 2024 and immaterial at December 31, 2023. The additional milestone payments, option fee for the IL-2 cytokine and royalties are contingent upon future events and, therefore, will be recorded if and when it becomes probable that a milestone will be achieved, or when an option fee or royalties are incurred.ApotexOn June 27, 2024, the Company entered into the Canada License Agreement with Apotex, pursuant to which, the Company granted to Apotex an exclusive license under the Company’s rights to toripalimab to commercialize toripalimab within Canada. Pursuant to the Canada License Agreement, Apotex paid the Company an upfront payment of $6.3 million United States Dollars which has been classified as net revenue in the consolidated statements of operations for the year ended December 31, 2024. In addition, Apotex agreed to pay the Company up to an aggregate of $51.5 million Canadian Dollars in milestone payments in connection with the achievement of certain regulatory and sales milestones with respect to toripalimab in Canada. Lastly, Apotex agreed to pay the Company a low double-digit percentage of any future net sales of toripalimab in Canada that the Company will subsequently pay to Junshi Biosciences pursuant to the Collaboration Agreement.The Canada License Agreement term continues until the tenth year after the first commercial sales of toripalimab in Canada, subject to an extension for a subsequent ten-year term at the option of Apotex. Apotex may terminate the Canada License Agreement for any reason after a specified notice period. The Canada License Agreement will terminate automatically if the rights granted to the Company by the Collaboration Agreement are terminated, if there is material breach that is not cured, if there are certain challenges to licensed patents by Apotex and in the case of certain insolvency events.BioeqOn November 4, 2019, the Company entered into a license agreement with Bioeq (the “Bioeq License Agreement”) for the commercialization of the Bioeq Licensed Products. Under this agreement, Bioeq granted to the Company an exclusive, royalty-bearing license to commercialize the Bioeq Licensed Products in the field of ophthalmology (and any other approved labelled indication) in the United States. The Company accounted for the licensing transaction as an asset acquisition under the relevant accounting rules. The terms of the Bioeq Agreement included milestone payments in connection with the achievement of certain development and regulatory milestones with respect to the Bioeq Licensed Products in the United States, including a €2.5 million milestone related to the FDA approval of the CIMERLI Section 351(k) BLA that was paid in 2022. The Company shared a percentage of gross profits on sales of Bioeq Licensed Products in the United States with Bioeq in the low- to mid-fifty percent range. Royalties due to Bioeq were $38.4 million as of December 31, 2023. On January 19, 2024 the Company entered into the CIMERLI Purchase Agreement with Sandoz. Pursuant to the CIMERLI Purchase Agreement, on March 1, 2024, the Company completed the divestiture of its CIMERLI ophthalmology franchise through the sale of its subsidiary, Coherus Ophthalmology. Refer to Note 6. Acquisition and Dispositions for additional information. Upon closing of the CIMERLI Sale, the Bioeq License Agreement was assumed by Sandoz.Adimab Development and Option AgreementIn October 2018, Surface and Adimab entered into the A&R Adimab Agreement, which amended and restated the Original Adimab Agreement, for the discovery and optimization of proprietary antibodies as potential therapeutic product candidates. Under the A&R Adimab Agreement, the Company will select biological targets against which Adimab will use its proprietary platform technology to research and develop antibody proteins using a mutually agreed upon research plan. The A&R Adimab Agreement, among other things, provided access to additional antibodies and expanded the Company’s right to evaluate and use antibodies that were modified or derived using Adimab technology for diagnostic purposes. Adimab granted the Company the Research Option. In addition, Adimab granted the Company the Commercialization Option. Upon the exercise of a Commercialization Option, and payment of the applicable option fee to Adimab, Adimab will assign the Company the patents that cover the antibodies selected by such Commercialization Option. The Company will be required to use commercially reasonable efforts to develop, seek market approval of, and commercialize at least one antibody against the target covered by the Commercialization Option in specified markets upon the exercise of a Commercialization Option.Under the A&R Adimab Agreement, the Company is obligated to make milestone payments and to pay specified fees upon the exercise of the Research Option or Commercialization Option. Upon exercise of a Research Option, the Company is obligated to pay a nominal research maintenance fee on each of the next four anniversaries of the exercise. Upon the exercise of each Commercialization Option, the Company will be required to pay an option exercise fee of a low seven-digit dollar amount, and the Company may be responsible for milestone payments of up to an aggregate of $13.0 million for each licensed product that receives marketing approval. For any licensed product that is commercialized, the Company is obligated to pay Adimab tiered royalties of a low to mid single-digit percentage on worldwide net sales of such product. The Company may also partially exercise a Commercialization Option with respect to ten antibodies against a biological target by paying 65% of the option fee and later either (i) paying the balance and choosing additional antibodies for commercialization, up to the maximum number under the Commercialization Option, or (ii) foregoing the Commercialization Option entirely. For any Adimab diagnostic product that is used with or in connection with any compound or product other than a licensed antibody or licensed product, the Company is obligated to pay Adimab up to a low seven digits in regulatory milestone payments and low single-digit royalties on net sales. No additional payment is due with respect to any companion diagnostic or any diagnostic product that does not contain any licensed antibody. Any payments payable to Adimab as a result of any product candidates being developed pursuant to the GSK Agreement, will be payable to Adimab directly by GSK. Vaccinex License AgreementOn March 23, 2021, Surface and Vaccinex entered into the Vaccinex License Agreement which provides the Company a worldwide, exclusive, sublicensable license to make, have made, use, sell, offer to sell, have sold, import, and otherwise exploit Vaccinex Licensed Products, including the antibody CHS-114 targeting CCR8. Under the Vaccinex License Agreement, the Company is obligated to use commercially reasonable efforts to develop, clinically test, achieve regulatory approval, manufacture, market and commercialize at least one Vaccinex Licensed Product.The Company is responsible for all costs and expenses of such development, manufacturing and commercialization. Vaccinex is eligible to receive up to an aggregate of $3.5 million based on achievement of certain clinical milestones, up to an aggregate of $11.5 million based on achievement of certain regulatory milestones per Vaccinex Licensed Product, and low single-digit royalties on global net sales of any approved licensed products. Out-Licensing Agreement Acquired as part of the Surface AcquisitionOn September 8, 2023, at the closing of the Surface Acquisition, all the assets, liabilities, rights and obligations of Surface were assumed by the Company’s direct, wholly-owned subsidiary, Surface Oncology, LLC. See further details in Note 6. Acquisition and Dispositions above.GSK AgreementIn December 2020, Surface entered into the GSK Agreement. Pursuant to the GSK Agreement, Surface granted GSK a worldwide exclusive, sublicensable license to develop, manufacture and commercialize the Licensed Antibodies. GSK is responsible for the development, manufacturing and commercialization of the Licensed Antibodies and a joint development committee was formed to facilitate information sharing. GSK is responsible for all costs and expenses of such development, manufacturing and commercialization and is obligated to provide the Company with updates on its development, manufacturing and commercialization activities through the joint development committee. In March 2022, Surface earned a $30.0 million milestone payment from GSK upon the dosing of the first patient in the Phase 1 trial of GSK4381562. The Company is eligible to receive up to $60.0 million in additional clinical milestones and $155.0 million in regulatory milestones. In addition, the Company may receive up to $485.0 million in sales milestone payments. The Company is also eligible to receive royalties on global net sales of any approved products based on the Licensed Antibodies, ranging in percentages from high single digits to mid-teens. Due to the uncertainty of pharmaceutical development and the historical failure rates generally associated with drug development, the Company may not receive any milestone payments or any royalty payments under the GSK Agreement. The Company has not recognized license-related revenue under the GSK Agreement to date.Unless terminated earlier, the GSK Agreement expires on a licensed product-by-licensed product and country-by-country basis on the later of ten years from the date of first commercial sale or when there is no longer a valid patent claim or regulatory exclusivity covering such licensed product in such country. Either party may terminate the GSK Agreement for an uncured material breach by the other party or upon the bankruptcy or insolvency of the other party. GSK may terminate the GSK Agreement for its convenience. The Company may terminate the GSK Agreement if GSK institutes certain actions related to the licensed patents or if GSK ceases development activities, other than for certain specified technical or safety reasons. In the event of termination, the Company would regain worldwide rights to the terminated program.

150000000 2 380000000 25000000 0.20 35000000 35000000 0.18 85000000 170000000 25000000 25000000 25000000 25000000 12500000 4800000

8000000

68500000

35000000 12500000 25000000 400000 6300000

1500000

6300000 51500000 P10Y

38400000

1 13000000 10 0.65 0 3500000 11500000 30000000 60000000 155000000 485000000 P10Y

8.Financial LiabilitiesA summary of the Company’s debt obligations, including level within the fair value hierarchy (see Note 3. Fair Value Measurements), is as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;"></td><td colspan="13" style="vertical-align:bottom;white-space:nowrap;width:64.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">At December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;">(in thousands)</td><td colspan="2" style="vertical-align:bottom;width:10.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Principal Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:16.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unamortized Debt Discount and Debt Issuance Costs</td><td style="vertical-align:bottom;width:2.09%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level</td></tr><tr><td style="vertical-align:bottom;width:35.77%;background:#cceeff;margin:0pt;padding:0pt;">Financial Liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.3%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;">2029 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 38,660</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.3%;margin:0pt;padding:0pt;"> (1,962)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 36,698</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 36,698</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;margin:0pt;padding:0pt;">Level 2*</td></tr><tr><td style="vertical-align:bottom;width:35.77%;background:#cceeff;margin:0pt;padding:0pt;">2026 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 230,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.3%;background:#cceeff;margin:0pt;padding:0pt;"> (1,771)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 228,229</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 223,100</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;background:#cceeff;margin:0pt;padding:0pt;">Level 2**</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:35.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;"></td><td colspan="13" style="vertical-align:bottom;white-space:nowrap;width:64.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">At December 31, 2023</td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;">(in thousands)</td><td colspan="2" style="vertical-align:bottom;width:10.34%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Principal Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unamortized Debt Discount and Debt Issuance Costs</td><td style="vertical-align:bottom;width:2.09%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:10.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Level</td></tr><tr><td style="vertical-align:bottom;width:35.77%;background:#cceeff;margin:0pt;padding:0pt;">Financial Liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.3%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:35.77%;margin:0pt;padding:0pt;">2027 Term Loans</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 250,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.3%;margin:0pt;padding:0pt;"> (3,519)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 246,481</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;margin:0pt;padding:0pt;"> 246,481</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;margin:0pt;padding:0pt;">Level 2*</td></tr><tr><td style="vertical-align:bottom;width:35.77%;background:#cceeff;margin:0pt;padding:0pt;">2026 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 230,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:middle;white-space:nowrap;width:16.3%;background:#cceeff;margin:0pt;padding:0pt;"> (3,112)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 226,888</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.01%;background:#cceeff;margin:0pt;padding:0pt;"> 150,155</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.23%;background:#cceeff;margin:0pt;padding:0pt;">Level 2**</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;background:#ffffff;padding:0.75pt;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:98.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:1.72%;background:#ffffff;margin:0pt;padding:0pt;">*</td><td style="vertical-align:middle;width:98.27%;background:#ffffff;margin:0pt;padding:0pt;">The principal amounts outstanding are subject to variable interest rates, which are based on three-month SOFR plus fixed percentages. Therefore, the Company believes the carrying amount of these obligations approximates fair value.</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:1.72%;background:#ffffff;margin:0pt;padding:0pt;">**</td><td style="vertical-align:middle;width:98.27%;background:#ffffff;margin:0pt;padding:0pt;"> The fair value is influenced by interest rates, the Company’s stock price and stock price volatility and is determined by prices observed in market trading. Since the market for trading of the 2026 Convertible Notes is not considered to be an active market, the estimated fair value is based on Level 2 inputs.</td></tr></table>2029 Term LoanOn May 8, 2024, the Company entered into a senior secured term loan facility of $38.7 million that was fully funded on the 2029 Term Loan Effective Date with the Agent and the 2029 Lenders. The net proceeds of $37.5 million, net of the original issuance discount, were used by the Company to help repay in full the existing outstanding indebtedness owed by the Company to BioPharma Credit, PLC (“BioPharma”), BPCR Limited Partnership (a “2027 Lender”), and Biopharma Credit Investments V (Master) LP (a “2027 Lender”) pursuant to the 2027 Term Loans.The 2029 Term Loan is governed by the 2029 Loan Agreement. The 2029 Term Loan will mature on May 8, 2029. The amounts borrowed under the 2029 Term Loan accrue interest equal to 8.0% per annum, plus a three-month SOFR rate. The 2029 Term Loan provides for interest-only payments on a quarterly basis until maturity. The Company may prepay the 2029 Term Loan in full or in part provided the Company (i) provides at least three (3) business days’ prior written notice to the Agent, (ii) pays on the date of such prepayment (A) all outstanding principal to be prepaid plus accrued and unpaid interest, (B) a prepayment fee of (x) 10.0% of the 2029 Term Loans so prepaid if paid on or after the first anniversary of the 2029 Term Loan Effective Date and before the second anniversary of the 2029 Term Loan Effective Date; (y) 5.0% of the 2029 Term Loan so prepaid if paid after the second anniversary of the 2029 Term Loan Effective Date and on or before the third anniversary of the 2029 Term Loan Effective Date; and (z) 0% of the 2029 Term Loan so prepaid if paid after the third anniversary of the 2029 Term Loan Effective Date, (C) if paid before the first anniversary of the 2029 Term Loan Effective Date, a make-whole amount equal to the interest that would have accrued from the date of prepayment through the first anniversary of the 2029 Term Loan Effective Date, and (D) all other sums, if any, that shall become due and payable under the 2029 Loan Agreement, including interest at the default rate with respect to any past due amounts. Amounts outstanding during an event of default shall accrue interest at an additional rate of 4.0% per annum, which interest shall be payable on demand in cash.The 2029 Term Loan is secured by a lien on substantially all of the assets of the Company, including intellectual property, subject to customary exclusions and exceptions. The 2029 Loan Agreement contains customary representations and warranties, covenants and events of default, including a financial covenant that commenced on the 2029 Term Loan Effective Date, which requires the Company to maintain certain levels of cash and cash equivalents. As of December 31, 2024, the Company was in compliance with these covenants other than to the extent that the disclosures set forth in Item 9A of this Annual Report on Form 10-K do not comply with the requirements of subclause (ii) of Section 5.2(a)(i) of the 2029 Loan Agreement for which the Company is in possession of a valid waiver, and there were no events of default under the 2029 Term Loan.The Company incurred $2.2 million of debt discount and issuance costs relating to the issuance of the 2029 Term Loan, which were recorded as a reduction to the carrying value of the 2029 Term Loan on the consolidated balance sheets. The debt issuance costs are being amortized and recognized as additional interest expense over the five-year contractual term of the 2029 Term Loan using the effective interest rate method.The Company adopted the prospective method to account for future cash payments. Under the prospective method, the effective interest rate is not constant, and any change in the expected cash flows is recognized prospectively as an adjustment to the effective yield.The following table presents the components of interest expense related to the 2029 Term Loan:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:76.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:76.36%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:76.36%;background:#cceeff;margin:0pt;padding:0pt;">Contractual interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.1%;background:#cceeff;margin:0pt;padding:0pt;"> 3,319</td></tr><tr><td style="vertical-align:bottom;width:76.36%;margin:0pt;padding:0pt;">Amortization of debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.47%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 201</td></tr><tr><td style="vertical-align:bottom;width:76.36%;background:#cceeff;margin:0pt;padding:0pt;"> Total interest expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.47%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.77%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,520</td></tr></table>As of December 31, 2024, the total remaining unamortized debt discount and debt offering costs of $2.0 million will be amortized using the effective interest rate over the remaining term of 4.4 years.Assuming the fourth quarter of 2024 interest rate of 12.6%, future payments on the 2029 Term Loan are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">Year ending December 31, (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:80.14%;background:#cceeff;margin:0pt;padding:0pt;">2025 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 4,940</td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">2026 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 4,940</td></tr><tr><td style="vertical-align:bottom;width:80.14%;background:#cceeff;margin:0pt;padding:0pt;">2027 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 4,940</td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">2028 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 4,954</td></tr><tr><td style="vertical-align:bottom;width:80.14%;background:#cceeff;margin:0pt;padding:0pt;">2029 and thereafter - principal and interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 40,379</td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">Total minimum payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 60,153</td></tr><tr><td style="vertical-align:bottom;width:80.14%;background:#cceeff;margin:0pt;padding:0pt;">Less amount representing interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (21,493)</td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">2029 Term Loan, gross</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 38,660</td></tr><tr><td style="vertical-align:bottom;width:80.14%;background:#cceeff;margin:0pt;padding:0pt;">Less unamortized debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,962)</td></tr><tr><td style="vertical-align:bottom;width:80.14%;margin:0pt;padding:0pt;">Net carrying amount of 2029 Term Loan</td><td style="vertical-align:bottom;white-space:nowrap;width:3.55%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 36,698</td></tr></table>Revenue Purchase and Sale AgreementOn May 8, 2024, concurrent with the 2029 Term Loan, the Company entered into the Revenue Purchase and Sale Agreement with Coduet Royalty Holdings, LLC, as administrative agent, and the Purchaser Group. Under the terms of the Revenue Purchase and Sale Agreement, the Purchaser Group paid the Company $37.5 million, subject to certain conditions at closing (the “Revenue Purchase Price”). In exchange, the Company sold to the Purchaser Group a right to receive 5.0% of U.S. net sales of UDENYCA and LOQTORZI with respect to a specified threshold applicable to UDENYCA net sales and a specified threshold applicable to LOQTORZI net sales during an applicable year and 0.5% of U.S. net sales of UDENYCA and LOQTORZI that exceeded the specified threshold during that year (the “Revenue Payment”) for each calendar quarter commencing May 8, 2024. The Purchaser Group’s right to receive the Revenue Payment terminates and the Company no longer has the obligation to pay Revenue Payments once the Purchaser Group receives the amount equal to 2.25 times the Revenue Purchase Price allocated to each product. The Company may also buy out the Purchaser Group’s rights to receive the Revenue Payments by triggering certain conditions and paying the Purchaser Group the unpaid portion of the 2.25 multiple on the Revenue Purchase Price. The proceeds from the Revenue Purchase Price were used by the Company as part of the full repayment of the 2027 Term Loans. The Company has announced that it plans to use a portion of the proceeds of the contemplated UDENYCA Sale to buy out the right to receive royalties on net sales of UDENYCA which is expected to be $47.7 million assuming a close late in the first quarter or early in the second quarter of 2025 in accordance with the Revenue Purchase and Sale Agreement.The Revenue Purchase and Sale Agreement contains various representations and warranties, including with respect to organization, authorization, and certain other matters, certain covenants with respect to payment, reporting, intellectual property, in-licenses, out-licenses, and certain other actions, indemnification obligations and other provisions customary for transactions of this nature.The Revenue Purchase and Sale Agreement contains an embedded derivative that meets the criteria to be bifurcated and accounted for as a freestanding derivative instrument subject to derivative accounting. The allocation of the Revenue Purchase Price to the embedded derivative resulted in a $9.2 million discount on the revenue participation liability. Additionally, there was $1.4 million in issuance costs. The Company is amortizing the discount and issuance costs to interest expense over the estimated term of the Revenue Purchase and Sale Agreement using the effective interest method. For the year ended December 31, 2024, interest expense was $7.2 million, inclusive of the amortization of discount and issuance costs of $1.3 million. For details on the Royalty Fee Derivative Liability, see Note 3. Fair Value Measurements.A summary of the revenue participation liability is as follows: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:78.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:78.35%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:19.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:78.35%;background:#cceeff;margin:0pt;padding:0pt;">Revenue participation liability</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.68%;background:#cceeff;margin:0pt;padding:0pt;"> 37,994</td></tr><tr><td style="vertical-align:bottom;width:78.35%;margin:0pt;padding:0pt;">Less unamortized discount and issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:17.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (9,251)</td></tr><tr><td style="vertical-align:bottom;width:78.35%;background:#cceeff;margin:0pt;padding:0pt;">Net carrying value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.68%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,743</td></tr></table>Classification on the consolidated balance sheets is as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:45.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:35.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:45.44%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:35.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Balance Sheet Classification</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:45.44%;background:#cceeff;margin:0pt;padding:0pt;">Revenue participation liability, current</td><td style="vertical-align:bottom;width:35.69%;background:#cceeff;margin:0pt;padding:0pt;">Accrued and other current liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;background:#cceeff;margin:0pt;padding:0pt;"> 1,148</td></tr><tr><td style="vertical-align:bottom;width:45.44%;margin:0pt;padding:0pt;">Revenue participation liability, non-current</td><td style="vertical-align:bottom;width:35.69%;margin:0pt;padding:0pt;">Other liabilities, non-current</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 27,595</td></tr><tr><td style="vertical-align:bottom;width:45.44%;background:#cceeff;margin:0pt;padding:0pt;">Net carrying value</td><td style="vertical-align:bottom;white-space:nowrap;width:35.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,743</td></tr></table>2027 Term Loan The Company entered into the Loan Agreement with BioPharma and the 2027 Lenders for a senior secured term loan facility of up to $300.0 million, of which $250.0 million was funded. Starting April 1, 2023, the 2027 Term Loans accrued interest at 8.25% plus the sum (the “Adjusted Term SOFR”) of three-month SOFR and 0.26161% per annum, with a floor on Adjusted Term SOFR of 1.0%. On February 5, 2024, the Company entered into the Consent and Amendment with the Collateral Agent and the 2027 Lenders. Pursuant to and subject to terms and conditions in the Consent and Amendment, among other things: (1) the 2027 Lenders and the Collateral Agent provided consent to consummation of the transactions contemplated by the CIMERLI Purchase Agreement between the Company and Sandoz, and released a subsidiary of the Company from its obligations and certain assets subject to the transactions contemplated thereby, (2) the 2027 Lenders and the Collateral Agent required the Company to make a partial prepayment of the principal of the loans outstanding under the 2027 Loan Agreement in the amount of $175.0 million upon consummation of the CIMERLI Sale, subject to certain conditions and (3) the parties thereto agreed to adjust the minimum net trailing twelve month net sales covenant level to be $125.0 million under the 2027 Loan Agreement.As a result of the closing of the CIMERLI Sale, the Company made a partial prepayment of $175.0 million of the total principal balance of $250.0 million of the 2027 Term Loans on April 1, 2024, and including the prepayment premium fee, make-whole and accrued interest, the Company paid $181.9 million. On May 8, 2024, in connection with entering into the 2029 Term Loan and the Revenue Purchase and Sale Agreement, the Company repaid in full all outstanding indebtedness and terminated all commitments under the 2027 Term Loans. The May 8, 2024 payoff amount of $79.6 million included repayment in full of all outstanding principal, accrued interest, a 3.0% prepayment premium fee of the principal amount, a make-whole interest payment and lender fees. During the year ended December 31, 2024, the Company recorded a $12.6 million loss on debt extinguishment in the consolidated statements of operations for the payoff of the 2027 Term Loans, which included the write-off of the remaining debt discount and debt issuance costs, the prepayment premium fee, the make-whole interest payment, and lender fees.The following table presents the components of interest expense related to the 2027 Term Loans: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:60.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:60.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:60.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:38.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr><td style="vertical-align:bottom;width:60.26%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:60.26%;background:#cceeff;margin:0pt;padding:0pt;">Contractual interest</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 9,916</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.38%;background:#cceeff;margin:0pt;padding:0pt;"> 34,289</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;margin:0pt;padding:0pt;"> 20,243</td></tr><tr><td style="vertical-align:bottom;width:60.26%;margin:0pt;padding:0pt;">Amortization of debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,277</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,094</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,550</td></tr><tr><td style="vertical-align:bottom;width:60.26%;background:#cceeff;margin:0pt;padding:0pt;"> Total interest expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 11,193</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 35,383</td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.39%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 24,793</td></tr></table>1.5% Convertible Senior Subordinated Notes due April 2026In April 2020, the Company issued and sold $230.0 million aggregate principal amount of its 2026 Convertible Notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The net proceeds from the offering were $222.2 million after deducting initial purchasers’ fees and offering expenses. The 2026 Convertible Notes are general unsecured obligations and will be subordinated to the Company’s designated senior indebtedness (as defined in the indenture for the 2026 Convertible Notes) and structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables. The 2026 Convertible Notes accrue interest at a rate of 1.5% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, since October 15, 2020, and will mature on April 15, 2026, unless earlier repurchased or converted.At any time before the close of business on the second scheduled trading day immediately before the maturity date, noteholders may convert their 2026 Convertible Notes at their option into shares of the Company’s common stock, together, if applicable, with cash in lieu of any fractional share, at the then-applicable conversion rate. The initial conversion rate is 51.9224 shares of common stock per $1,000 principal amount of the 2026 Convertible Notes, which represents an initial conversion price of approximately $19.26 per share of common stock. The initial conversion price represents a premium of approximately 30.0% over the last reported sale of $14.82 per share of the Company’s common stock on the Nasdaq Global Market on April 14, 2020, the date the 2026 Convertible Notes were issued. The conversion rate and conversion price will be subject to customary adjustments upon the occurrence of certain events. If a “make-whole fundamental change” (as defined in the indenture for the 2026 Convertible Notes) occurs, the Company will, in certain circumstances, increase the conversion rate for a specified period of time for noteholders who convert their 2026 Convertible Notes in connection with that make-whole fundamental change. The 2026 Convertible Notes are not redeemable at the Company’s election before maturity. If a “fundamental change” (as defined in the indenture for the 2026 Convertible Notes) occurs, then, subject to a limited exception, noteholders may require the Company to repurchase their 2026 Convertible Notes for cash. The repurchase price will be equal to the principal amount of the 2026 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. The Company has announced that it plans to use part of the proceeds that it receives at the closing of the UDENYCA Sale to fully repay the outstanding 2026 Convertible Notes.The 2026 Convertible Notes have customary provisions relating to the occurrence of “events of default” (as defined in the Indenture for the 2026 Convertible Notes). The occurrence of such events of default could result in the acceleration of all amounts due under the 2026 Convertible Notes. As of December 31, 2024, the Company was in full compliance with these covenants, and there were no events of default under the 2026 Convertible Notes.The Company evaluated the features embedded in the 2026 Convertible Notes under the relevant accounting rules and concluded that the embedded features do not meet the requirements for bifurcation, and therefore do not need to be separately accounted for as equity components. The proceeds received from the issuance of the convertible debt were recorded as a liability in the consolidated balance sheets.Capped Call TransactionsIn connection with the pricing of the 2026 Convertible Notes, the Company paid $18.2 million to enter into privately negotiated capped call transactions with one or a combination of the initial purchasers, their respective affiliates and other financial institutions. The capped call transactions are generally expected to reduce the potential dilution upon conversion of the 2026 Convertible Notes in the event that the market price per share of the Company’s common stock, as measured under the terms of the capped call transactions, is greater than the strike price of the capped call transactions, which initially corresponds to the conversion price of the 2026 Convertible Notes, and is subject to anti-dilution adjustments generally similar to those applicable to the conversion rate of the 2026 Convertible Notes. Since inception, the cap price has been $25.93 per share, which represents a premium of approximately 75.0% over the last reported sale price of the Company’s common stock of $14.82 per share on April 14, 2020, and is subject to certain adjustments under the terms of the capped call transactions.The capped call transactions are accounted for as separate transactions from the 2026 Convertible Notes and classified as equity instruments. Therefore, the total $18.2 million capped call premium paid was recorded as a reduction to additional paid-in capital in the consolidated balance sheets in 2020. The capped calls will not be subsequently re-measured as long as the conditions for equity classification continue to be met. The Company incurred $0.9 million of debt issuance costs relating to the issuance of the 2026 Convertible Notes, which were recorded as a reduction to the notes in the consolidated balance sheets. The debt issuance costs are being amortized and recognized as additional interest expense over the six-year contractual term of the notes using the effective interest rate method.If the 2026 Convertible Notes were converted on December 31, 2024, the holders of the 2026 Convertible Notes would have received common shares with an aggregate value of $16.5 million based on the Company’s closing stock price of $1.38 as of December 31, 2024.The following table presents the components of interest expense related to 2026 Convertible Notes:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:56.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:56.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.02%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:56.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:41.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;width:56.63%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:56.63%;background:#cceeff;margin:0pt;padding:0pt;">Stated coupon interest</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;background:#cceeff;margin:0pt;padding:0pt;"> 3,450</td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;background:#cceeff;margin:0pt;padding:0pt;"> 3,450</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.89%;background:#cceeff;margin:0pt;padding:0pt;"> 3,450</td></tr><tr><td style="vertical-align:bottom;width:56.63%;margin:0pt;padding:0pt;">Amortization of debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,341</td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,313</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,286</td></tr><tr><td style="vertical-align:bottom;width:56.63%;background:#cceeff;margin:0pt;padding:0pt;"> Total interest expense</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,791</td><td style="vertical-align:bottom;white-space:nowrap;width:1.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,763</td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,736</td></tr></table>The remaining unamortized debt discount and debt offering costs related to the Company’s 2026 Convertible Notes of $1.8 million as of December 31, 2024, will be amortized using the effective interest rate over the remaining term of the 2026 Convertible Notes. The annual effective interest rate is 2.1% for the 2026 Convertible Notes.Future payments on the 2026 Convertible Notes as of December 31, 2024 are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Year ending December 31, (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">2025 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 3,450</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">2026 - principal and interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 231,725</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">Total minimum payments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 235,175</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Less amount representing interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,175)</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">2026 Convertible Notes, principal amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 230,000</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Less unamortized debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,771)</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">Net carrying amount of 2026 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 228,229</td></tr></table>8.2% Convertible Notes due 2022On February 29, 2016, the Company issued and sold $100.0 million aggregate principal amount of its 8.2% Convertible Senior Notes due 2022. The 2022 Convertible Notes constituted general, senior unsubordinated obligations of the Company and were guaranteed by certain subsidiaries of the Company, bore interest at a fixed coupon rate of 8.2% per annum payable quarterly and matured on March 31, 2022. In March 2022, the Company fully repaid the 2022 Convertible Notes, and as a result had no continuing obligations associated with them thereafter. The payoff amount of $111.1 million included the repayment of the entire outstanding principal amount, the 9.0% premium of the outstanding principal amount and accrued and unpaid interest. The 2022 Convertible Notes were issued to Healthcare Royalty Partners III, L.P., for $75.0 million in aggregate principal amount, and to three related party investors, KKR Biosimilar L.P., MX II Associates LLC, and KMG Capital Partners, LLC, for $20.0 million, $4.0 million, and $1.0 million, respectively, in aggregate principal amount.The following table presents the components of interest expense of the 2022 Convertible Notes:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:78.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:78.92%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, 2022</td></tr><tr><td style="vertical-align:bottom;width:78.92%;background:#cceeff;margin:0pt;padding:0pt;">Stated coupon interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.84%;background:#cceeff;margin:0pt;padding:0pt;"> 2,050</td></tr><tr><td style="vertical-align:bottom;width:78.92%;margin:0pt;padding:0pt;">Amortization of debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:16.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 521</td></tr><tr><td style="vertical-align:bottom;width:78.92%;background:#cceeff;margin:0pt;padding:0pt;">Total interest expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.84%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,571</td></tr></table>2025 Term LoanOn January 7, 2019, the Company entered into the 2025 Term Loan with affiliates of Healthcare Royalty Partners (together, the “2025 Lender”). The 2025 Term Loan consisted of a six-year term loan facility for an aggregate principal amount of $75.0 million (the “Borrowings”). Starting January 1, 2020, the Borrowings under the 2025 Term Loan bore interest at 6.75% per annum plus three month LIBOR. Interest was payable quarterly in arrears. Pursuant to the terms of the 2025 Term Loan, the Company was required to begin paying principal on the Borrowings in equal quarterly installments beginning on January 7, 2022, with the outstanding balance to be repaid on January 7, 2025, the maturity date. In January 2022, pursuant to the Company entering into the 2027 Term Loans, the Company voluntarily prepaid all amounts outstanding under the 2025 Term Loan. The payoff amount of $81.9 million included principal repayment in full, accrued interest, a 5.0% prepayment premium fee of the Borrowings principal amount, and an exit fee of 4.0% of the Borrowings principal amount. The prepayment premium fee and unamortized exit fee, debt discount and debt issuance costs, net from the 2025 Term Loan totaled $6.2 million and was recorded in loss on debt extinguishment in the consolidated statements of operations for 2022. Interest expense for the year ended December 31, 2022 was immaterial.

38660000

1962000

36698000

230000000

1771000

228229000

223100000

250000000

3519000

246481000

230000000

3112000

226888000

150155000

38700000

37500000

0.08

0.10 0.05 0 0.04 0 2200000 P5Y

3319000

201000

3520000

2000000

P4Y4M24D

0.126

4940000

4954000

40379000

60153000

21493000

38660000

1962000

36698000

37500000 0.05 0.005 2.25 2.25 47700000 9200000 1400000 7200000

1300000

37994000

9251000

28743000 <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:45.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:35.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:45.44%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:35.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Balance Sheet Classification</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2024</td></tr><tr><td style="vertical-align:bottom;width:45.44%;background:#cceeff;margin:0pt;padding:0pt;">Revenue participation liability, current</td><td style="vertical-align:bottom;width:35.69%;background:#cceeff;margin:0pt;padding:0pt;">Accrued and other current liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;background:#cceeff;margin:0pt;padding:0pt;"> 1,148</td></tr><tr><td style="vertical-align:bottom;width:45.44%;margin:0pt;padding:0pt;">Revenue participation liability, non-current</td><td style="vertical-align:bottom;width:35.69%;margin:0pt;padding:0pt;">Other liabilities, non-current</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 27,595</td></tr><tr><td style="vertical-align:bottom;width:45.44%;background:#cceeff;margin:0pt;padding:0pt;">Net carrying value</td><td style="vertical-align:bottom;white-space:nowrap;width:35.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.99%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,743</td></tr></table> 1148000 27595000 28743000

300000000

250000000

0.0825

0.0026161

0.01

175000000 125000000 175000000

250000000

181900000

79600000

0.03

-12600000

9916000

34289000

20243000

1277000

1094000

4550000

11193000

35383000

24793000

0.015

230000000

222200000

The 2026 Convertible Notes accrue interest at a rate of 1.5% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, since October 15, 2020

0.015

2026-04-15

51.9224 1000 19.26 0.30

14.82

As of December 31, 2024, the Company was in full compliance with these covenants, and there were no events of default under the 2026 Convertible Notes.

0 18200000 25.93 0.75

14.82

18200000

900000

P6Y

16500000

1.38

3450000

1341000

1313000

1286000

4791000

4763000

4736000

1800000

0.021

Future payments on the 2026 Convertible Notes as of December 31, 2024 are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Year ending December 31, (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">2025 - interest only</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 3,450</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">2026 - principal and interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 231,725</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">Total minimum payments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 235,175</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Less amount representing interest</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,175)</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">2026 Convertible Notes, principal amount</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;margin:0pt;padding:0pt;"> 230,000</td></tr><tr><td style="vertical-align:bottom;width:86.51%;margin:0pt;padding:0pt;">Less unamortized debt discount and debt issuance costs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,771)</td></tr><tr><td style="vertical-align:bottom;width:86.51%;background:#cceeff;margin:0pt;padding:0pt;">Net carrying amount of 2026 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.8%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 228,229</td></tr></table>

3450000

231725000

235175000

5175000

230000000

1771000

228229000

0.082

100000000

0.082

The 2022 Convertible Notes constituted general, senior unsubordinated obligations of the Company and were guaranteed by certain subsidiaries of the Company, bore interest at a fixed coupon rate of 8.2% per annum payable quarterly and matured on March 31, 2022

111100000

0.09

75000000

20000000

4000000

1000000

2050000

521000

2571000

P6Y

75000000

Starting January 1, 2020, the Borrowings under the 2025 Term Loan bore interest at 6.75% per annum plus three month LIBOR. Interest was payable quarterly in arrears.

0.0675

81900000

0.05 0.04

-6200000

<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">9.</td><td style="padding:0pt;">Commitments and Contingencies</td></tr></table>Purchase CommitmentsThe Company entered into agreements with certain vendors to secure raw materials and certain CMOs to manufacture its supply of products. As of December 31, 2024, the Company’s non-cancelable purchase commitments under the terms of its agreements are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:86.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:86.07%;margin:0pt;padding:0pt;">Year ending December 31, (in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:86.07%;background:#cceeff;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> 69,450</td></tr><tr><td style="vertical-align:bottom;width:86.07%;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"> 16,449</td></tr><tr><td style="vertical-align:bottom;width:86.07%;background:#cceeff;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 600</td></tr><tr><td style="vertical-align:bottom;width:86.07%;margin:0pt;padding:0pt;">Total obligations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 86,499</td></tr></table>The Company enters into contracts in the normal course of business with contract research organizations for preclinical studies and clinical trials and CMOs for the manufacture of clinical trial materials. The contracts are generally cancellable, with varying provisions regarding termination. If a contract with a specific vendor were to be terminated, the Company would generally only be obligated for products or services that the Company had received as of the effective date of the termination and any applicable cancellation fees. In connection with the YUSIMRY Sale, HKF assumed $17.0 million in YUSIMRY inventory purchase commitments, of which $17.0 million remained as of December 31, 2024. If HKF were to default on its obligations under the YUSIMRY Purchase Agreement, the Company could become liable to pay any unpaid portion of these purchase commitments.The substantial majority of these purchase commitments are expected to transfer to the Intas Parties in conjunction with the UDENCYA Sale, if the transaction closes as anticipated. Guarantees and IndemnificationsIn the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. The Company assesses the likelihood of any adverse judgments or related claims, as well as ranges of probable losses. In the cases where the Company believes that a reasonably possible or probable loss exists, it will disclose the facts and circumstances of the claims, including an estimate range, if possible.Legal Proceedings and Other ClaimsThe Company is a party to various legal proceedings and claims that arise in the ordinary, routine course of business and that have not been fully resolved. The outcome of such legal proceedings and claims is inherently uncertain. Accruals are recognized for such legal proceedings and claims to the extent that a loss is both probable and reasonably estimable. The best estimate of a loss within a range is accrued; however, if no estimate in the range is better than any other, then the minimum amount in the range is accrued. If it’s determined that a material loss is reasonably possible and the loss or range of loss can be estimated, the possible loss is disclosed. Sometimes it is not possible to determine the outcome of these matters or, unless otherwise noted, the outcome (including in excess of any accrual) is not expected to be material, and the maximum potential exposure or the range of possible loss cannot be reasonably estimated. As of December 31, 2024 and 2023, the Company had an accrual of $6.4 million related to such matters that was included in accrued rebates, fees and reserves in the consolidated balance sheets.In late April of 2022, the Company received a demand letter from Zinc Health Services, LLC (“Zinc”) asserting that Zinc was entitled to approximately $14.0 million from the Company for claims related to certain sales of UDENYCA from October 2020 through December 2021. No legal proceeding has been filed in connection with the claims in the letter and based on currently available information the final resolution of the matter is uncertain. The Company intends to defend any legal proceeding that may be filed. If the Company has any liability related to Zinc, it does not expect that it will transfer to Intas as part of the UDENYCA Sale. The Company has an accrual established as of December 31 that represented its estimated liability to resolve the matter. Loss contingencies are inherently unpredictable, the assessment is highly subjective and requires judgments about future events and unfavorable developments or resolutions can occur. The Company regularly reviews litigation matters to determine whether its accrual is adequate. The amount of ultimate loss may differ materially from the amount accrued to date.Other than the matter in connection with the demand letter described in this Note 9, there are no pending legal proceedings, other than ordinary routine litigation incidental to the business, to which the Company or any of its subsidiaries is a party, or that any of the Company or its subsidiaries' property is subject.

69450000

16449000

600000

86499000

17000000

6400000

14000000

47789

P5Y

27532

20257

25017

P5Y

50 <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:46.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.01%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:20.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, </td></tr><tr><td style="vertical-align:bottom;width:46.01%;margin:0pt;padding:0pt;">Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;margin:0pt;padding:0pt;">Balance Sheet Classification</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td></tr><tr><td style="vertical-align:bottom;width:46.01%;background:#cceeff;margin:0pt;padding:0pt;">Operating leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;background:#cceeff;margin:0pt;padding:0pt;">Other assets, non-current</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;margin:0pt;padding:0pt;"> 4,518</td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;margin:0pt;padding:0pt;"> 5,912</td></tr><tr><td style="vertical-align:bottom;width:46.01%;margin:0pt;padding:0pt;">Finance leases</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;margin:0pt;padding:0pt;">Property and equipment, net</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,022</td></tr><tr><td style="vertical-align:bottom;width:46.01%;background:#cceeff;margin:0pt;padding:0pt;">Total leased assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:28.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,518</td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,934</td></tr></table><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;">(in thousands)</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th colspan="5" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:20.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, </th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;">Liabilities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"> </th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;">Balance Sheet Classification</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"> </th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:9.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;margin:0pt;padding:0pt;"></th><th colspan="2" style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:10.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liabilities, current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;background:#cceeff;margin:0pt;padding:0pt;">Accrued and other current liabilities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;margin:0pt;padding:0pt;"> 1,691</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;margin:0pt;padding:0pt;"> 1,424</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;">Operating lease liabilities, non-current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;">Lease liabilities, non-current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,286</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,977</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;background:#cceeff;margin:0pt;padding:0pt;">Total operating lease liabilities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,977</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,401</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;margin:0pt;padding:0pt;"></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;background:#cceeff;margin:0pt;padding:0pt;">Finance lease liabilities, current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;background:#cceeff;margin:0pt;padding:0pt;">Accrued and other current liabilities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;margin:0pt;padding:0pt;"> 721</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;margin:0pt;padding:0pt;">Finance lease liabilities, non-current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;margin:0pt;padding:0pt;">Lease liabilities, non-current</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 351</th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:45.96%;background:#cceeff;margin:0pt;padding:0pt;">Total finance lease liabilities</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:28.34%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:2.35%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.47%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:0.94%;background:#cceeff;margin:0pt;padding:0pt;"></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</th><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:8.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,072</th></tr></table>

4518000

5912000

1022000

4518000 6934000

1691000

1424000

3286000

4977000

6401000

721000

351000

1072000

P2Y8M12D

P3Y7M6D

P2Y2M12D

P1Y4M24D

P2Y2M12D

0.119

0.118

0.08

0.087

0.084

225000

1069000

1228000

24000

146000

166000

249000 1215000 1394000

2066000

2984000

3154000

2315000

4199000

4548000

2095000

3560000

3401000

24000

145000

155000

248000

1034000

1228000

2653000

2694000

2192000

2126000

1530000

5848000

871000

4977000

11.Stockholders’ DeficitPublic Offering On May 16, 2023, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as representatives of the several underwriters named therein (the “Underwriters”), pursuant to which the Company issued and sold the an aggregate of 11,764,706 shares (the “Firm Shares”) of our common stock, par value $0.0001 per share, to the Underwriters (the “Public Offering”). Additionally, under the terms of the Underwriting Agreement, the Company granted the Underwriters an option, for 30 days from the date of the Underwriting Agreement, to purchase up to an additional 1,764,705 shares of common stock (the “Option Shares,” and together with the Firm Shares, the “Shares”), which the Underwriters elected to exercise in full. The price to the public in the Public Offering was $4.25 per share. The Underwriters agreed to purchase the Shares from the Company pursuant to the Underwriting Agreement at a price of $3.995 per share.The Offering was made pursuant to a prospectus supplement and related prospectus filed with the SEC pursuant to the Company’s Registration Statement under which the Company may offer and sell up to $150.0 million in the aggregate of its common stock, including the common stock already sold, preferred stock, debt securities, warrants and units from time to time in one or more offerings. On May 18, 2023, the Company completed the sale and issuance of an aggregate of 13,529,411 Shares, including the exercise in full of the Underwriters’ option to purchase the Option Shares. The Company received net proceeds of approximately $53.6 million, after deducting the Underwriters’ discounts and commissions and offering expenses payable by the Company.ATM OfferingOn November 8, 2022, the Company filed a Registration Statement. Also on November 8, 2022, the Company entered into a Sales Agreement with Cowen, pursuant to which the Company may issue and sell from time to time up to $150.0 million of its common stock, including the common stock already sold, through or to Cowen as the Company’s sales agent or principal in the ATM Offering.On May 15, 2023, pursuant to an Amendment No. 1 to Sales Agreement and in connection with the Public Offering, the Company reduced the number of shares that could be issued and sold pursuant to its ATM Offering with TD Cowen by $86.25 million, lowering the aggregate offering price under the Sales Agreement from $150.0 million to $63.75 million.On September 11, 2023, pursuant to an Amendment No. 2 to Sales Agreement, the Company increased the number of shares that could be issued and sold pursuant to its ATM Offering with TD Cowen by $28.75 million, increasing the aggregate offering price under the Sales Agreement from $63.75 million to $92.5 million.The following table summarizes information regarding settlements under the ATM Offering:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:42.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"> </td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:53.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:42.43%;margin:0pt;padding:0pt;">(in thousands, except share and per share data)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Number of common stock shares sold during the period</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 650,005</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;margin:0pt;padding:0pt;"> 3,559,761</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 916,884</td></tr><tr><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;">Weighted-average price per share</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2.44</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5.43</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7.30</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Gross proceeds</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 1,589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;margin:0pt;padding:0pt;"> 19,339</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 6,692</td></tr><tr><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;">Less commissions and fees</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (40)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (483)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (168)</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Net proceeds after commissions and fees</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,549</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18,856</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,524</td></tr></table>As of December 31, 2024, the Company had approximately $64.9 million of its common stock remaining available for sales under the ATM Offering. Common Stock On October 9, 2023, in accordance with the terms of an optional stock purchase agreement entered into with one of its CMOs on September 28, 2023 (the “Optional Stock Purchase Agreement”), the Company issued 2,225,513 shares of its common stock to one of its CMOs for a price of $3.675 per share, with a total value of $8.2 million in this non-cash transaction. The Optional Stock Purchase Agreement gave the Company the option, in its sole discretion, to elect to pay for certain manufacturing services provided by the CMO by either paying cash or issuing shares of our common stock in a private placement offering (the “Stock Service Fee Payment”). On October 4, 2023, the Company notified the CMO of its election of the Stock Service Fee Payment. The price per share of common stock was equal to the volume-weighted average closing trading price per share of common stock on the Nasdaq Global Market over the ten-trading day period ending on and including October 6, 2023.

11764706

0.0001

P30D

1764705

4.25

3.995

150000000

13529411

53600000

150000000

86250000 150000000 63750000 28750000 63750000 92500000 <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:42.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"> </td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:53.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:42.43%;margin:0pt;padding:0pt;">(in thousands, except share and per share data)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:17.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Number of common stock shares sold during the period</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 650,005</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;margin:0pt;padding:0pt;"> 3,559,761</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 916,884</td></tr><tr><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;">Weighted-average price per share</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2.44</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5.43</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7.30</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Gross proceeds</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 1,589</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;margin:0pt;padding:0pt;"> 19,339</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;margin:0pt;padding:0pt;"> 6,692</td></tr><tr><td style="vertical-align:bottom;width:42.43%;margin:0pt;padding:0pt;">Less commissions and fees</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (40)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (483)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (168)</td></tr><tr><td style="vertical-align:bottom;width:42.43%;background:#cceeff;margin:0pt;padding:0pt;">Net proceeds after commissions and fees</td><td style="vertical-align:bottom;white-space:nowrap;width:3.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,549</td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 18,856</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,524</td></tr></table>

650005

3559761

916884

2.44 5.43 7.3 1589000 19339000 6692000

40000

483000

168000

1549000

18856000

6524000

64900000

2225513

3.675

8200000

12.Stock-Based Compensation and Employee BenefitsEquity Incentive PlansIn October 2014, the Company’s board of directors and its stockholders adopted the 2014 Equity Incentive Award Plan (the “Original 2014 Plan”), which became effective upon the closing of the Company’s IPO on November 6, 2014. The Original 2014 Plan was subject to automatic annual increases in the number of shares available for issuance on the first business day of each fiscal year equal to four percent (4%) of the number of shares of the Company’s common stock outstanding as of such date or a lesser number of shares as determined by the Company’s board of directors with 2024 being the last calendar year with an automatic annual increase under the Original 2014 Plan. The Original 2014 Plan was amended and restated effective May 29, 2024 as the 2014 Plan with amendments that included an additional 7,000,000 shares reserved for issuance over the existing share reserve and certain other changes to the Original 2014 Plan. Additionally, the evergreen provision has been removed from the 2014 Plan such that any increase in the total number of shares of common stock that may be issued must be approved by stockholders. There were 6,010,528 shares of common stock available for future issuance as of December 31, 2024 under the 2014 Plan. All remaining shares under the Company’s 2010 Equity Incentive Stock Plan (the “2010 Plan”) were transferred to the Original 2014 Plan upon adoption and any additional shares that would otherwise return to the 2010 Plan as a result of forfeiture, termination or expiration of the awards will return to the 2014 Plan. The 2014 Plan enables the Company to grant shares and/or options to purchase shares of common stock to employees, directors, consultants and other service providers. While the 2014 Plan allows for non-qualified or incentive stock options, primarily all option grants made since June 2016 have been for non-qualified stock options. Under the 2010 Plan, no awards have been issued since 2014, and there were no shares of common stock available for future issuance as of December 31, 2024. In June 2016, the Company adopted the 2016 Plan. The 2016 Plan was designed to comply with the inducement exemption contained in Nasdaq’s Rule 5635(c)(4), which provides for the grant of non-qualified stock options, restricted stock units, restricted stock awards, performance awards, dividend equivalents, deferred stock awards, deferred stock units, stock payment and stock appreciation rights to a person not previously an employee or director of the Company, or following a bona fide period of non-employment, as an inducement material to the individual’s entering into employment with the Company. In connection with the approval of the amendment and restatement of the Original 2014 Plan as the 2014 Plan in 2024, the Company agreed to not make any new awards under the 2016 Plan after May 29, 2024, such that all remaining shares under the 2016 Plan will remain unissued. Stock option exercises are settled with common stock from the plans’ previously authorized and available pool of shares. If any shares subject to an award granted under the 2014 Plan or 2016 Plan expire, are forfeited or canceled without the issuance of shares, the shares subject to such awards return to the 2014 Plan. In addition, shares withheld to pay for minimum statutory tax obligations with respect to full-value awards are added back to the 2014 Plan. The annual grant to eligible employees can vary depending on the type of award, and the award size is determined by the employee’s grade level.Stock OptionsIncentive stock options and non-statutory stock options may be granted with exercise prices of not less than the fair market value of the common stock on the date of grant. These stock options generally vest over four years, expire in ten years from the date of grant and are generally exercisable after vesting.In 2024, the Company granted an aggregate of 2,622,500 performance-based stock options (“PSOs”) under the Original 2014 Plan and under the 2014 Plan to its Chief Executive Officer and certain other senior officers, which have a term of ten years. The PSOs granted under the Original 2014 Plan are comprised of 1,982,500 PSOs with performance-based vesting conditions tied to commercial, clinical and strategic milestones (the “Performance Condition PSOs”). The fair value of each Performance Condition PSO was estimated on the grant date, using the Black-Scholes model for PSOs tied to commercial, clinical and strategic milestones. Expense for the Performance Condition PSOs is recognized over the requisite service period only when the performance condition is considered probable of being achieved and is recognized over the period from the grant date through the time the milestone is expected to be achieved. The PSOs granted under the 2014 Plan comprised 640,000 PSOs with total shareholder return vesting tied to performance milestones during specified periods (the “Market Condition PSOs”). The fair value of each Market Condition PSO was estimated on the grant date using a Monte Carlo simulation model.The following table summarizes option activity from December 31, 2023 through December 31, 2024:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"></td><td colspan="9" style="vertical-align:bottom;white-space:nowrap;width:44.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options</td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.57%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.57%;margin:0pt;padding:0pt;">Aggregate</td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.6%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;">Remaining</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.57%;margin:0pt;padding:0pt;">Intrinsic</td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;">Number of</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.6%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;">Contractual Terms</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.57%;margin:0pt;padding:0pt;">Value</td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Exercise Price</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Years)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr><td style="vertical-align:bottom;width:53.86%;background:#cceeff;margin:0pt;padding:0pt;">Outstanding at December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> 23,659,240</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;background:#cceeff;margin:0pt;padding:0pt;"> 13.31</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;">Granted - at fair value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> 10,513,500</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"> 2.28</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:53.86%;background:#cceeff;margin:0pt;padding:0pt;">Exercised</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> (174,651)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;background:#cceeff;margin:0pt;padding:0pt;"> 1.67</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;">Forfeited/Canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,292,979)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"> 9.20</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:53.86%;background:#cceeff;margin:0pt;padding:0pt;">Outstanding at December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,705,110</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;background:#cceeff;margin:0pt;padding:0pt;"> 10.10</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;background:#cceeff;margin:0pt;padding:0pt;"> 6.4</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;background:#cceeff;margin:0pt;padding:0pt;"> 889</td></tr><tr><td style="vertical-align:bottom;width:53.86%;margin:0pt;padding:0pt;">Exercisable at December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.94%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17,010,902</td><td style="vertical-align:bottom;white-space:nowrap;width:1.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.46%;margin:0pt;padding:0pt;"> 14.37</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.96%;margin:0pt;padding:0pt;"> 4.6</td><td style="vertical-align:bottom;white-space:nowrap;width:1.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.37%;margin:0pt;padding:0pt;"> —</td></tr></table>Aggregate intrinsic value represents the value of the Company’s closing stock price on the last trading day of the year in excess of the exercise price multiplied by the number of options outstanding or exercisable.Information on the options outstanding and exercisable as of December 31, 2024 is summarized by range of exercise prices as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:42.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="4" style="vertical-align:bottom;white-space:nowrap;width:29.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options Exercisable</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Weighted-</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Remaining</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Average</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;">Number</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Contractual Terms</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Number</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Exercise</td></tr><tr><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Range of Exercise Prices</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Years)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Exercisable</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 0.77</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 2.41</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 6,361,791</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 9.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 1.74</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 473,666</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 2.35</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 2.59</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 5.44</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"> 6,000,496</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 8.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 3.86</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 2,069,330</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 4.33</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 5.86</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 12.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 5,603,496</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 5.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 10.28</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,386,405</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 10.54</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 12.44</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 17.06</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"> 4,601,126</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 14.64</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 3,992,175</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 14.59</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 17.17</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 26.58</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 4,691,013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 3.8</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 18.90</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,642,138</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 18.91</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 26.62</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 36.85</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,447,188</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 29.06</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,447,188</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 29.06</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,705,110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 6.4</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 10.10</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17,010,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 14.37</td></tr></table>Additional information on options is summarized as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:59.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:59.81%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:37.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr><td style="vertical-align:bottom;width:59.81%;margin:0pt;padding:0pt;">(in thousands, except weighted-average grant-date fair value per share)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:59.81%;background:#cceeff;margin:0pt;padding:0pt;">Total intrinsic value of options exercised</td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 425</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.4%;background:#cceeff;margin:0pt;padding:0pt;"> 914</td></tr><tr><td style="vertical-align:bottom;width:59.81%;margin:0pt;padding:0pt;">Total grant date fair value of options vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 22,778</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 30,467</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.4%;margin:0pt;padding:0pt;"> 34,916</td></tr><tr><td style="vertical-align:bottom;width:59.81%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average grant date fair value per share of options granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 1.49</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 4.19</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.4%;background:#cceeff;margin:0pt;padding:0pt;"> 7.04</td></tr></table>As of December 31, 2024, total unrecognized stock-based compensation expense related to unvested stock options was $24.6 million, which is expected to be recognized over a weighted-average period of 2.6 years.Restricted Stock UnitsThe Company grants RSUs from time to time primarily to its employees. RSUs are share awards that entitle the holder to receive freely tradable shares of the Company’s common stock upon vesting. The RSUs cannot be transferred and are subject to forfeiture if the holder’s employment terminates prior to the release of the vesting restrictions. The Company’s RSUs generally vest over one to three years from the applicable grant date, provided the employee remains continuously employed with the Company. However, the RSUs granted in 2024 were issued and vested immediately to settle a portion of the 2023 annual employee performance bonuses. The estimated fair value of RSUs is based on the closing price of the Company’s common stock on the grant date.The following table sets forth the summary of RSUs activity, under the 2014 Plan:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td colspan="4" style="vertical-align:bottom;white-space:nowrap;width:25.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">RSUs Outstanding</td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.27%;margin:0pt;padding:0pt;">Weighted-Average</td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;margin:0pt;padding:0pt;">Number of</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.27%;margin:0pt;padding:0pt;">Grant Date Fair </td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr><td style="vertical-align:bottom;width:72.18%;background:#cceeff;margin:0pt;padding:0pt;">Balances at December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;background:#cceeff;margin:0pt;padding:0pt;"> 1,726,729</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;background:#cceeff;margin:0pt;padding:0pt;"> 11.93</td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;">RSUs granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;margin:0pt;padding:0pt;"> 1,976,750</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;"> 2.23</td></tr><tr><td style="vertical-align:bottom;width:72.18%;background:#cceeff;margin:0pt;padding:0pt;">RSUs vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:10.78%;background:#cceeff;margin:0pt;padding:0pt;"> (2,793,626)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;background:#cceeff;margin:0pt;padding:0pt;"> 5.41</td></tr><tr><td style="vertical-align:bottom;width:72.18%;margin:0pt;padding:0pt;">RSUs canceled</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (141,616)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;margin:0pt;padding:0pt;"> 11.50</td></tr><tr><td style="vertical-align:bottom;width:72.18%;background:#cceeff;margin:0pt;padding:0pt;">Balances at December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.78%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 768,237</td><td style="vertical-align:bottom;white-space:nowrap;width:2.37%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.51%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.75%;background:#cceeff;margin:0pt;padding:0pt;"> 10.79</td></tr></table>Additional information on RSUs is summarized as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:59.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:59.88%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:37.67%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31,</td></tr><tr><td style="vertical-align:bottom;width:59.88%;margin:0pt;padding:0pt;">(in thousands, except weighted-average grant-date fair value per share)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:59.88%;background:#cceeff;margin:0pt;padding:0pt;">Total grant date fair value of RSUs vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;background:#cceeff;margin:0pt;padding:0pt;"> 15,101</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;background:#cceeff;margin:0pt;padding:0pt;"> 18,381</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"> 13,598</td></tr><tr><td style="vertical-align:bottom;width:59.88%;margin:0pt;padding:0pt;">Total grant date fair value of RSUs granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;margin:0pt;padding:0pt;"> 4,408</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;margin:0pt;padding:0pt;"> 11,386</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;"> 22,502</td></tr><tr><td style="vertical-align:bottom;width:59.88%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average grant-date fair value per share of RSUs granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;background:#cceeff;margin:0pt;padding:0pt;"> 2.23</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.35%;background:#cceeff;margin:0pt;padding:0pt;"> 8.93</td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.57%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"> 13.34</td></tr></table>As of December 31, 2024, total unrecognized stock-based compensation expense related to unvested RSUs was $2.6 million, which is expected to be recognized over a weighted-average period of 0.7 years.Employee Stock Purchase PlanIn October 2014, the Company’s board of directors and its stockholders approved the establishment of the ESPP. The ESPP provided for annual increases in the number of shares available for issuance on January 1 of each year until January 1, 2024, equal to the lesser of one percent (1%) of the number of shares of the Company’s common stock outstanding as of such date or a number of shares as determined by the Company’s board of directors. The ESPP had 1,689,547 shares of common stock available for future issuance as of December 31, 2024. Eligible employees may purchase common stock at 85% of the lesser of the fair market value of the Company’s common stock on the first or last day of the offering period. The offering periods of the ESPP are six-month periods commencing on each May 16 and November 16. As of December 31, 2024, the unrecognized compensation expense associated with the ESPP was immaterial, which is expected to be recognized over a weighted-average period of 4.5 months.Stock-Based CompensationThe following table summarizes the classification of stock-based compensation expense in the Company’s consolidated statements of operations related to employees and nonemployees:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:29.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:68.21%;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:8.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:8.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:8.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:68.21%;background:#cceeff;margin:0pt;padding:0pt;">Cost of goods sold (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> 1,070</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> 632</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> 736</td></tr><tr><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;">Research and development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"> 8,643</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"> 14,596</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;margin:0pt;padding:0pt;"> 18,999</td></tr><tr><td style="vertical-align:bottom;width:68.21%;background:#cceeff;margin:0pt;padding:0pt;">Selling, general and administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 18,089</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 27,882</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 31,002</td></tr><tr><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;">Total stock-based compensation expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 27,802</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 43,110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 50,737</td></tr><tr><td style="vertical-align:bottom;width:68.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:68.21%;margin:0pt;padding:0pt;">Total stock-based compensation expense capitalized into inventory</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,407</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,062</td><td style="vertical-align:bottom;white-space:nowrap;width:2.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,187</td></tr></table><table style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Stock-based compensation capitalized into inventory is recognized as cost of goods sold when the related product is sold.</td></tr></table><div style="margin-top:12pt;"></div>Valuation Assumptions of Awards Granted to Employees The Company estimated the fair value of each stock option and awards granted under the ESPP on the date of grant using the Black-Scholes option-pricing model. The following table illustrates the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of the awards during the years ended December 31, 2024, 2023 and 2022:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">Expected term (years)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">Stock options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 5.7</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 6.0</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">Expected volatility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">Stock options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 67</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 64</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 62</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 88</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 105</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 70</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">Risk-free interest rate</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">Stock options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 3.97</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 3.92</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> 2.37</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 4.94</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 5.35</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> 3.77</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">Expected dividend yield</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:70.22%;background:#cceeff;margin:0pt;padding:0pt;">Stock options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;background:#cceeff;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr><td style="vertical-align:bottom;width:70.22%;margin:0pt;padding:0pt;">ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:2.27%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.28%;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:7.21%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.28%;margin:0pt;padding:0pt;">%</td></tr></table>Expected Term: The expected term represents the period for which the stock-based awards are expected to be outstanding and is based on the options’ vesting term and contractual term. Since January 1, 2021, the Company has used historical data to calculate the expected term.Expected Volatility: The expected volatility is calculated based on the Company’s daily stock closing prices for a period equal to the expected life of the award. Risk-Free Interest Rate: The risk-free interest rate is based on the United States Treasury constant maturity rate at the time of grant using a term equal to the expected life.Expected Dividends: The Company has not paid and does not anticipate paying any dividends in the near future, and therefore used an expected dividend yield of zero in the valuation model.401(k) Retirement Plan In 2019, the Compensation Committee of the Board approved the Company’s matching of employee contributions towards their individual 401(k) Plans whereby eligible employees may elect to contribute up to the lesser of 90% of their annual compensation or the statutorily prescribed annual limit allowable under Internal Revenue Service regulations. The Company makes matching contributions of 100% of the first 4% of eligible compensation that an employee contributes to his or her 401(k) plan, up to a maximum of $7,500 each year. The Company recorded compensation expense related to the match of $1.5 million, $1.8 million and $2.1 million in 2024, 2023 and 2022, respectively.

0.04

7000000

6010528

P4Y

P10Y

2622500

1982500

640000

23659240

13.31

10513500

2.28

174651

1.67

5292979

9.2

28705110

10.1

P6Y4M24D

889000

17010902

14.37

P4Y7M6D

Information on the options outstanding and exercisable as of December 31, 2024 is summarized by range of exercise prices as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:42.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="4" style="vertical-align:bottom;white-space:nowrap;width:29.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options Exercisable</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Weighted-</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Weighted-</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Remaining</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Average</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Average</td></tr><tr><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.98%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;">Number</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Contractual Terms</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;margin:0pt;padding:0pt;">Exercise</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;">Number</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;margin:0pt;padding:0pt;">Exercise</td></tr><tr><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:22.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Range of Exercise Prices</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(Years)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Exercisable</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 0.77</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 2.41</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 6,361,791</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 9.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 1.74</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 473,666</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 2.35</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 2.59</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 5.44</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"> 6,000,496</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 8.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 3.86</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 2,069,330</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 4.33</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 5.86</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 12.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 5,603,496</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 5.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 10.28</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,386,405</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 10.54</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 12.44</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 17.06</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;margin:0pt;padding:0pt;"> 4,601,126</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 5.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 14.64</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 3,992,175</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 14.59</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"> 17.17</td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"> 26.58</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;margin:0pt;padding:0pt;"> 4,691,013</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 3.8</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 18.90</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 4,642,138</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 18.91</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;margin:0pt;padding:0pt;"> 26.62</td><td style="vertical-align:bottom;width:2.87%;margin:0pt;padding:0pt;">-</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;margin:0pt;padding:0pt;"> 36.85</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,447,188</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;margin:0pt;padding:0pt;"> 0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;margin:0pt;padding:0pt;"> 29.06</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,447,188</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;margin:0pt;padding:0pt;"> 29.06</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.98%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.22%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,705,110</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;margin:0pt;padding:0pt;"> 6.4</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.02%;background:#cceeff;margin:0pt;padding:0pt;"> 10.10</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.45%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17,010,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.16%;background:#cceeff;margin:0pt;padding:0pt;"> 14.37</td></tr></table>

0.77

2.41

6361791

P9Y6M

1.74

473666

2.35

2.59

5.44

6000496

P8Y3M18D

3.86

2069330

4.33

5.86

12.37

5603496

P5Y3M18D

10.28

4386405

10.54

12.44

17.06

4601126

P5Y3M18D

14.64

3992175

14.59

17.17

26.58

4691013

P3Y9M18D

18.9

4642138

18.91

26.62

36.85

1447188

P0Y6M

29.06

1447188

29.06

28705110

P6Y4M24D

10.1

17010902

14.37

110000

425000

914000

22778000

30467000

34916000

1.49

4.19

7.04

24600000

P2Y7M6D

P3Y

1726729

11.93

1976750

2.23

2793626

5.41

141616

11.5

768237

10.79

15101000

18381000

13598000

4408000 11386000 22502000

2.23

8.93

13.34

2600000

P0Y8M12D

0.01

1689547

0.85

P4M15D

1070000

632000

736000

8643000

14596000

18999000

18089000

27882000

31002000

27802000

43110000

50737000

1407000

1062000

1187000

P5Y8M12D

P6Y

P6Y1M6D

P0Y6M

0.67

0.64

0.62

0.88

1.05

0.70

0.0397

0.0392

0.0237

0.0494

0.0535

0.0377

0.90

0.04

7500

1500000

1800000

2100000

28507000

-238272000

-291746000

-8000

28507000

-238272000

-291754000

-380000

0.21

0.028

-0.012

0.017

-0.017 -0.001 -0.239 0.009 0.018

0.314

-0.035

-0.023

0.018

0.056

0.007

-0.37

-0.177

-0.221

0.002

158090000

170402000

72031000

65225000

28861000

37211000

26814000

30370000

39966000

38474000

42537000

42480000

50850000

46062000

419149000

430224000

412833000

423385000

6316000

6839000

1004000 1538000

6414000

6403000

7418000

7941000

1102000

1100000

-10600000

85600000

64400000

718700000

2036

124800000

2031

66700000

2031

29500000

17417000

16838000

15495000

1565000

865000

1385000

265000

286000

42000

19247000

17417000

16838000

19200000

17400000

16800000

14.Net Income (Loss) Per ShareThe following table sets forth the computation of the basic and diluted net income (loss) per share:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;white-space:nowrap;width:34.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:64.07%;margin:0pt;padding:0pt;">(in thousands, except share and per share data)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Basic net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Numerator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Net income (loss)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,507</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (237,892)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (291,754)</td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Denominator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Weighted-average common shares outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 114,553,537</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 94,162,637</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 77,630,020</td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Basic net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 0.25</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2.53)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3.76)</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Diluted net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Numerator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Net income (loss)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 28,507</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (237,892)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (291,754)</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Denominator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Denominator for basic net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"> 114,553,537</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> 94,162,637</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> 77,630,020</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Add effect of potential dilutive securities:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Stock options, including shares subject to ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;margin:0pt;padding:0pt;"> 168,392</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Restricted stock units</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 108,533</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:64.07%;margin:0pt;padding:0pt;">Denominator for diluted net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 114,830,462</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 94,162,637</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 77,630,020</td></tr><tr><td style="vertical-align:bottom;width:64.07%;background:#cceeff;margin:0pt;padding:0pt;">Diluted net income (loss) per share</td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.03%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 0.25</td><td style="vertical-align:bottom;white-space:nowrap;width:1.3%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (2.53)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.31%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3.76)</td></tr></table>The following outstanding dilutive potential shares were excluded from the calculation of diluted net income (loss) per share due to their anti-dilutive effect:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:31.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ended December 31, </td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2022</td></tr><tr><td style="vertical-align:bottom;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Stock options, PSOs, including shares subject to ESPP</td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> 28,535,096</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> 24,083,222</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> 22,214,875</td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;">Restricted stock units</td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"> 895,208</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"> 2,266,387</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;margin:0pt;padding:0pt;"> 2,399,465</td></tr><tr><td style="vertical-align:bottom;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Shares issuable upon conversion of 2022 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;margin:0pt;padding:0pt;"> 1,078,632</td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;">Shares issuable upon conversion of 2026 Convertible Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,942,152</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,942,152</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,942,152</td></tr><tr><td style="vertical-align:bottom;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:2.29%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 41,372,456</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,291,761</td><td style="vertical-align:bottom;white-space:nowrap;width:2.21%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 37,635,124</td></tr></table>The amounts in the table above exclude any shares contingently issuable pursuant to the CVR Agreement because the conditions that could result in a payment becoming due were not met.

28507000

-237892000

-291754000

114553537

94162637

77630020

0.25

-2.53

-3.76

28507000

-237892000

-291754000

114553537

94162637

77630020

168392

108533

114830462

94162637

77630020

0.25

-2.53

-3.76

28535096

24083222

22214875

895208

2266387

2399465

1078632

11942152

41372456

38291761

37635124

483400000

118400000

2 37500000 false false false false true