A reconciliation of cash, cash equivalents, and restricted cash reported in the accompanying condensed consolidated balance sheets to the amount reported within the accompanying condensed consolidated statements of cash flows was as follows (in thousands):


	March 31, 2026		December 31, 2025
Cash and cash equivalents	$	129,843	$	122,518
Restricted cash		3,111		3,114
Total cash, cash equivalents, and restricted cash as reported within our condensed consolidated statement of cash flows	$	132,954	$	125,632

As of March 31, 2026, our restricted cash balance of $3.1 million is used to collateralize certain credit instruments.

Accounts receivable, net was as follows (in thousands):


	March 31, 2026		December 31, 2025
Accounts receivable, net:
Net product receivables	$	4,473	$	—
Collaboration receivables		2,354		17,764
Total accounts receivable, net	$	6,827	$	17,764

Inventories were as follows (in thousands):


	March 31, 2026		December 31, 2025
Inventories:
Finished goods	$	154	$	—
Total inventories, current		154		—
Inventories, long-term (1)		3,843		—
Total current and long-term inventories	$	3,997	$	—

(1) Inventories, long-term, are comprised of raw materials and work in process that are expected to be sold beyond the next 12 months.

Accrued liabilities were as follows (in thousands):


	March 31, 2026		December 31, 2025
Accrued liabilities:
Clinical and preclinical costs	$	23,981	$	24,561
Compensation related		27,355		45,150
Other accrued expenses		17,527		13,567
Total accrued liabilities	$	68,863	$	83,278