v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 45,379 $ 30,793
Accounts receivable due from SPN - related party 882 2,068
Prepaid expenses and other current assets [1] 2,424 5,813
Total current assets 48,685 38,674
Property and equipment, net 9,622 11,534
Operating lease assets 76,794 80,903
Restricted cash 8,668 8,668
Other non-current assets 31 31
Total assets 143,800 139,810
Current liabilities:    
Accounts payable 2,200 4,079
Accrued expenses and other current liabilities 5,809 10,719
Accrued liabilities due to SPN - related party 13,453 17,750
Operating lease liabilities 9,478 8,674
Total current liabilities 30,940 41,222
Operating lease liabilities, net of current portion 77,956 82,966
Other long-term liabilities 1,954 1,838
Total liabilities 110,850 126,026
Commitments and contingencies (Note 9)
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 360,000,000 shares authorized at June 30, 2025 and December 31, 2024; 8,754,482 and 8,650,227 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 9 9
Additional paid-in capital 998,213 991,874
Accumulated other comprehensive loss 0 0
Accumulated deficit (965,272) (978,099)
Total stockholders' equity 32,950 13,784
Total liabilities and stockholders' equity $ 143,800 $ 139,810
[1] Includes $279 as of June 30, 2025 and $2,683 as of December 31, 2024 of unbilled receivable from SPN (related party) related to certain costs of the transition services performed by the Company. See Note 3, Discontinued Operations and TSA, for further details.