v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 16,232 $ 18,352
R&D tax credit incentive receivable 654 253
Prepaid expenses and other current assets 1,012 1,837
Total current assets 17,898 20,442
Property and equipment, net 2,879 1,693
Operating lease right-of-use assets, net 17,230 17,957
Restricted cash 1,338 1,338
Deposits and other assets 48 131
TOTAL ASSETS 39,393 41,561
CURRENT LIABILITIES:    
Accounts payable 1,032 817
Accrued expenses 1,736 1,803
Litigation accrual 1,675 1,675
Accrued compensation expense 365 343
Lease liability, current portion 1,794 1,348
Total current liabilities 6,602 5,986
Lease liability, noncurrent portion 17,061 17,965
TOTAL LIABILITIES 23,663 23,951
Commitments and contingencies (Note 13)
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $0.0001 per share; 10,000 shares authorized; none outstanding
Common stock, par value $0.0001 per share; 300,000 shares authorized; shares issued and outstanding: 76,428 and 59,235 as of December 31, 2025 and 2024, respectively 8 6
Additional paid-in capital 164,225 139,480
Accumulated other comprehensive income 30 48
Accumulated deficit (148,533) (121,924)
TOTAL STOCKHOLDERS' EQUITY 15,730 17,610
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 39,393 $ 41,561