v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 77,094 $ 115,462
Marketable securities   28,923
Receivable from former parent   51
Prepaid expenses 1,521 7,676
Restricted cash 1,969  
Other current assets 972 805
Total current assets 81,556 152,917
Property and equipment, net 1,638 7,715
Right-of-use assets 4,361 6,783
Restricted cash 0 1,969
Other assets   10
TOTAL ASSETS 87,555 169,394
CURRENT LIABILITIES:    
Accounts payable 3,142 2,056
Accrued expenses 20,224 18,534
Operating lease liabilities-short-term 5,007 5,560
Other current liabilities 45 45
Total current liabilities 28,418 26,195
Operating lease liabilities-long-term 166 2,462
Other liabilities 188 235
Total liabilities 28,772 28,892
Commitments and contingencies (Note 10)
Preferred shares, nominal value $0.01; 50,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued or outstanding at June 30, 2025 or December 31, 2024 0 0
Ordinary shares, nominal value $0.01; 450,000,000 ordinary shares authorized at June 30, 2025 and December 31, 2024; 17,274,537 and 17,095,371 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 173 171
Additional paid-in capital 299,100 299,682
Unrealized gain on marketable securities   20
Accumulated deficit (240,490) (159,371)
Total equity 58,783 140,502
TOTAL LIABILITIES AND EQUITY $ 87,555 $ 169,394