v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 57,050 $ 110,995
Prepaid expenses and other current assets 1,536 2,071
Total current assets 58,586 113,066
Property and equipment, net 4,688 6,322
Restricted cash and cash equivalents 901 1,220
Operating lease right of use asset 5,216 6,001
Other assets 5 320
Total assets 69,396 126,929
Current liabilities:    
Accounts payable 754 3,035
Accrued expenses and other current liabilities 5,407 10,588
Operating lease liability, current 1,751 1,557
Note payable, current, net of discount and issuance costs 28,236 0
Total current liabilities 36,148 15,180
Operating lease liability, net of current portion 7,684 9,435
Note payable, net of discount, issuance costs, and current portion 0 26,095
Derivative liability 759 2,829
Total liabilities 44,591 53,539
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued or outstanding as of December 31, 2025 and 2024 0 0
Common stock, $0.0001 par value, 200,000,000 shares authorized as of December 31, 2025 and 2024; 48,596,817 and 44,827,159 shares issued and outstanding as of December 31, 2025 and 2024, respectively 5 5
Additional paid-in capital 500,210 487,973
Accumulated deficit (475,410) (414,588)
Total stockholders’ equity 24,805 73,390
Total liabilities and stockholders’ equity $ 69,396 $ 126,929
Common stock outstanding (in shares) 48,596,817 44,827,159