v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows used in operating activities:    
Net loss $ (18,441) $ (20,565)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 299 395
Share-based compensation 1,549 2,822
(Gain) loss on disposal of assets (4) 9
Non-cash interest expense 117 132
Amortization of right-of-use assets 341 310
Loss (gain) on changes in other fair value adjustments 2,951 (49)
Gain from equity method investment 0 (1,342)
Amortization of discount on note receivable 0 (273)
Loss on change in fair value of warrant liability 7,107 804
Changes in operating assets and liabilities:    
Prepaid expenses (393) 1,850
Marketable securities 0 464
Accounts receivable (4,000) 225
Contract asset 0 1,469
Other assets and other current assets 42 259
Accounts payable 648 (106)
Other liabilities and other current liabilities (1,796) (5,118)
Deferred revenue 0 (25)
Lease liabilities (357) (313)
Net cash used in operating activities (11,937) (19,052)
Cash flows used in investing activities:    
Purchases of property, equipment and software (18) (64)
Purchases of intangible assets (100) (250)
Proceeds from sale of equipment 4 0
Net cash used in investing activities (114) (314)
Cash flows provided by financing activities:    
Proceeds from employee stock purchase plan 83 140
Proceeds from issuance of common stock through ATM facility, net of issuance cost 0 9,516
Proceeds from issuance of common stock to collaboration partners and licensees 662 1,031
Net cash provided by financing activities 745 10,687
Net decrease in cash and cash equivalents (11,306) (8,679)
Cash, cash equivalents, and restricted cash — beginning of period 137,153 108,468
Cash, cash equivalents, and restricted cash — end of period 125,847 99,789
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 99,370 77,223
Restricted cash 26,477 22,566
Total of cash, cash equivalents and restricted cash 125,847 99,789
Supplemental disclosures of cash flow information:    
Property, equipment and software additions included in accounts payable and accrued expenses and other current liabilities 0 1
Intangible asset additions included in accounts payable and accrued expenses and other current liabilities 200 0
Cash paid for interest $ 297 $ 340