v3.26.1
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 58,130 $ 190,304
Marketable securities 83,298 126,591
Accounts receivable 3,977 8,616
Prepaid expenses and other current assets 5,521 17,799
Total current assets 150,926 343,310
Property and equipment, net 10,648 18,190
Operating lease right-of-use assets 10,903 17,677
Other non-current assets 495 7,172
Restricted cash 858 858
Total assets 173,830 387,207
Current liabilities:    
Accounts payable 7,565 10,475
Accrued compensation 14,642 12,905
Deferred revenue-current 10,562 69,783
Operating lease liability - current 7,783 7,480
Accrued expenses and other current liabilities 34,581 31,250
Total current liabilities 75,133 131,893
Deferred revenue, non-current 2,028 12,536
Operating lease liability - non-current 7,891 15,674
Deferred royalty obligation related to the sale of future royalties 219,536 180,809
Other non-current liabilities 1,694 1,694
Total liabilities 306,282 342,606
Commitments and contingencies (Note 7)
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value - 10,000,000 shares authorized as of December 31, 2025 and December 31,2024; no shares issued and outstanding as of December 31, 2025 and December 31,2024
Common stock, $0.001 par value - 300,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 8,584,309 and 8,306,398 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 9 8
Additional paid-in-capital 845,475 831,423
Accumulated other comprehensive income 19 39
Accumulated deficit (977,955) (786,869)
Total stockholders' equity (deficit) (132,452) 44,601
Total Liabilities and Stockholders' Equity (Deficit) $ 173,830 $ 387,207