v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 15,858 $ 134,546
Short-term investments 82,478 0
Prepaid expenses and other current assets 6,913 4,325
Restricted cash, current portion 37 19
Total current assets 105,286 138,890
Property and equipment, net 460 1,209
Goodwill 10,502 10,502
Restricted cash, net of current portion 210 131
Total assets 116,458 150,732
Current liabilities:    
Accounts payable 137 283
Accrued expenses and other current liabilities 12,803 6,317
Derivative liability, current 0 360
Total current liabilities 12,940 6,960
Royalty obligation 2,000 2,000
Deferred tax liability, net 434 270
Derivative liability, non-current 18,000 8,120
Other long-term liabilities 35 350
Total liabilities 33,409 17,700
Mezzanine equity:    
Temporary equity, values issued 0 0
Stockholders’ equity:    
Common stock—$0.001 par value; 200,000,000 shares authorized at December 31, 2025 and December 31, 2024; 18,512,757 and 10,471,934 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 18 10
Additional paid-in capital 531,485 503,285
Accumulated other comprehensive income 68 0
Accumulated deficit (448,522) (370,263)
Total stockholders’ equity 83,049 133,032
Total liabilities, mezzanine equity and stockholders’ equity 116,458 150,732
Series D Preferred Stock    
Mezzanine equity:    
Temporary equity, values issued 0 0
Series E Preferred Stock    
Mezzanine equity:    
Temporary equity, values issued 0 0
Series C Preferred Stock    
Stockholders’ equity:    
Series C Preferred Stock—$0.001 par value; 34,326 shares of Series C Preferred Stock authorized at December 31, 2025 and December 31, 2024, 18,792 and 24,896 shares of Series C Preferred Stock issued and outstanding at December 31, 2025 and December 31, 2024, respectively $ 0 $ 0