v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 14,160 $ 19,210
Short-term investments 26,930 0
Accounts receivable 41 0
Interest receivable 139 54
Prepaid expenses and other current assets 788 338
Total current assets 42,058 19,602
Property and equipment, net 51 60
Security deposit 14 14
Operating lease right-of-use asset 1,176 884
Financing lease right-of-use-asset 322 533
Total assets 43,621 21,093
Current liabilities:    
Accounts payable 677 608
Accrued expenses 213 168
Accrued payroll-related expenses 782 650
Current operating lease liability 301 147
Current financing lease liability 106 420
Deferred revenue 96 7
Total current liabilities 2,175 2,000
Long-term operating lease liability 896 712
Total liabilities 3,071 2,712
Commitments and contingencies (see Note 9)
Stockholders’ equity:    
Preferred stock $0.001 par value, authorized 2,500 shares; none issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock: $0.001 par value, authorized 47,500 shares; 38,723 shares issued and 38,716 outstanding as of March 31, 2026; and 32,354 shares issued and outstanding as of December 31, 2025 39 32
Additional paid in capital 288,301 260,043
Other comprehensive income (23) 0
Accumulated deficit (247,767) (241,694)
Total stockholders’ equity 40,550 18,381
Total liabilities and stockholders’ equity $ 43,621 $ 21,093