2025 cash burn is expected to be approximately $150 million with full-year GAAP operating expenses around $230 million.
Cash, cash equivalents, and investments totaled $302.6 million as of June 30, 2025.
Cash runway extends into the second half of 2027, supporting ongoing operations and clinical trials.
Financial guidance excludes any impact from potential business development activities.
G&A expenses for Q2 2025 were $14.3 million, including $6.1 million in noncash stock-based compensation.
Net loss for Q2 2025 was $50.9 million or $0.23 per share, including $8.7 million noncash stock-based compensation and $2.4 million impairment charges.
R&D expenses for Q2 2025 were $40.2 million, including $2.6 million in noncash stock-based compensation.
Strategic Patent Settlement and Its Financial Impact
The company settled worldwide patent litigation with Bruker on favorable terms, recognizing a $68 million upfront payment.
Excluding the settlement-related revenue, Q2 revenue was $146 million, indicating the settlement's influence on financials.
The settlement included a significant gain of approximately $41 million recognized as part of the revenue, impacting operating income and net income positively.