v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 29,834 $ 45,766
Accounts receivable due from SPN - related party 0 360
Accounts receivable 233 157
Prepaid expenses and other current assets 1,770 3,093
Total current assets 31,837 49,376
Property and equipment, net 6,854 7,635
Operating lease assets 70,228 72,483
Restricted cash 8,668 8,668
Other non-current assets 31 31
Total assets 117,618 138,193
Current liabilities:    
Accounts payable 2,338 1,682
Accrued expenses and other current liabilities 2,863 3,972
Accrued liabilities due to SPN - related party 3,278 3,278
Operating lease liabilities 10,865 10,390
Total current liabilities 19,344 19,322
Operating lease liabilities, net of current portion 69,634 72,576
Other long-term liabilities 2,141 2,077
Total liabilities 91,119 93,975
Commitments and contingencies (Note 9)
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value; 360,000,000 shares authorized at March 31, 2026 and December 31, 2025; 9,592,326 and 9,556,466 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 10 10
Additional paid-in capital 1,018,805 1,016,611
Accumulated deficit (992,316) (972,403)
Total stockholders' equity 26,499 44,218
Total liabilities and stockholders' equity $ 117,618 $ 138,193