v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 40,632 $ 78,232
Short-term investments 31,136 15,476
Accounts receivable, net 0 789
Prepaid expenses and other current assets 5,988 2,464
Total current assets 77,756 96,961
Property and equipment, net 4,051 4,048
Right-of-use lease assets, net 825 189
Intangible assets, net 48 53
Other assets 45 33
Total assets 82,725 101,284
Current liabilities:    
Accounts payable 2,294 342
Accrued liabilities 7,933 7,802
Contract liabilities 164 164
Current lease liabilities 350 154
Total current liabilities 10,741 8,462
Non-current lease liabilities 520 24
Other non-current liabilities 122 632
Total liabilities 11,383 9,118
Commitments and contingencies (see Note 6)
Shareholders' equity:    
Ordinary shares, $0.000174 par value; 400,000 shares authorized; 55,580 shares issued and outstanding at June 30, 2025 and 55,349 shares issued and outstanding at December 31, 2024 10 10
Additional paid-in capital 441,413 439,357
Accumulated other comprehensive loss (1,375) (1,666)
Treasury shares (180) (180)
Accumulated deficit (368,526) (345,355)
Total shareholders' equity 71,342 92,166
Total liabilities and shareholders' equity $ 82,725 $ 101,284