v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 230,909 $ 237,028
Restricted cash   55,000
Accounts receivable 5,564 3,974
Prepaid expenses and other current assets 4,973 9,977
Total current assets 241,446 305,979
Property and equipment, net 6,736 9,531
Operating lease right-of-use asset 21,081 26,674
Non-current restricted cash 1,885 1,885
Total assets 271,148 344,069
Current liabilities:    
Accounts payable 4,235 7,194
Accrued liabilities 23,898 38,781
Deferred revenue 8,246 19,514
Total current liabilities 36,379 65,489
Deferred revenue, net of current portion   12,604
Operating lease liability, net of current portion 20,784 24,998
Total liabilities 57,163 103,091
Stockholders’ equity:    
Common stock: $0.001 par value; 60,000 shares authorized; issued and outstanding shares were 28,414 at December 31, 2025 and 27,000 at December 31, 2024 28 27
Additional paid-in capital 728,547 689,758
Accumulated deficit (514,590) (448,807)
Total stockholders’ equity 213,985 240,978
Total liabilities and stockholders’ equity $ 271,148 $ 344,069