v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (71,372) $ (74,135)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 8,693 17,257
Non-cash lease expense 286 212
Foreign exchange remeasurement (gain) loss (484) 275
Impairment of property, plant and equipment 16,569 4,325
Impairment of right-of-use assets 0 827
Change in fair value of contingent consideration (948) (3,910)
Depreciation 534 3,610
Restructuring costs (91) 0
In-process research and development expenses 10,000 10,000
Accretion on invested securities (37) (4,327)
Non-cash interest expense 791 962
Non-cash loss on debt extinguishment 0 415
Change in fair value of derivative financial instrument 0 1,055
Loss on disposals of property and equipment 0 343
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 6,115 (221)
Other long-term assets 425 (4,363)
Accrued rent receivable (3,397) (4,267)
Accounts payable 116 (556)
Operating lease liabilities (1,393) (1,377)
Long-term liabilities (79) 77
Accrued expenses and other current liabilities (2,347) (1,898)
Net cash used in operating activities (36,619) (55,696)
Cash flows from investing activities:    
Purchase of marketable securities (100,856) (134,009)
Maturities of marketable securities 135,900 198,100
Cash received from asset disposals 432 866
Acquired in-process research and development (10,000) (10,000)
Cash received from termination of derivative financial instrument 0 605
Purchase of derivative financial instrument 0 (1,588)
Net cash provided by investing activities 25,476 53,974
Cash flows from financing activities:    
Proceeds from the 2024 Loan 0 85,600
Principal payments on Construction Loans 0 (82,838)
Proceeds from at-the-market offering, net of $0.3 million in issuance costs 6,611 0
Proceeds from exercise of stock options 853 365
2024 Loan agreement closing costs (172) (1,372)
Net cash provided by financing activities 7,292 1,755
Net (decrease) increase in cash, cash equivalents, and restricted cash (3,851) 33
Effect of exchange rate changes on cash, cash equivalents and restricted cash 20 (94)
Cash, cash equivalents and restricted cash—beginning of period 10,635 10,696
Cash, cash equivalents and restricted cash—end of period 6,804 10,635
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 5,038 $ 7,997