v3.25.2
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 207,820 $ 142,131
Short-term investments (amortized cost of $307,394) 307,610 352,517
Grants receivable 475 805
Research and development tax credits receivable 280 963
Refundable income taxes 1,793 1,923
Prepaid expenses and other current assets 11,015 11,200
Total current assets 528,993 509,539
Property and equipment, net 5,175 4,895
Long-term investments (amortized cost of $74,475) 74,614 160,354
Research and development tax credits receivable, net of current portion 7,955 5,906
Restricted cash 319 299
Right of use assets 5,129 5,089
Other assets 898 894
Total assets 623,083 686,976
Current liabilities:    
Accounts payable 6,249 8,503
Other accrued expenses 796 1,096
Accrued clinical trial costs 36,462 17,896
Accrued personnel expenses 23,774 10,132
Deferred income 1,477 1,397
Lease liabilities 1,516 1,336
Total current liabilities 70,274 40,360
Grants repayable, net of current portion 6,606 5,842
Lease liabilities, net of current portion 3,612 3,760
Unrecognized tax benefits 48,790 46,720
Total liabilities 129,282 96,682
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Common stock, $0.001 par value: 150,000,000 shares authorized at March 31, 2025 and December 31, 2024; 38,271,682 and 36,598,043 shares issued and outstanding, respectively 44 37
Additional paid-in capital 633,070 616,037
Accumulated other comprehensive loss (16,190) (15,999)
Accumulated deficit (123,123) (9,781)
Total stockholders’ equity 493,801 590,294
Total liabilities and stockholders’ equity $ 623,083 $ 686,976