v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:          
Cash and cash equivalents $ 50,746,000 $ 53,814,000   $ 25,229,000  
Short-term investments 10,276,000 9,993,000   26,494,000  
Accounts receivable 7,139,000 14,564,000   5,761,000  
Unbilled receivable from government contracts 50,435,000 36,781,000   6,208,000  
Prepaid expenses and other current assets 13,108,000 20,971,000   4,568,000  
Total current assets 131,704,000 136,123,000   68,260,000  
Property and equipment, net 4,827,000 5,433,000   8,705,000  
Prepaid clinical services, long-term 25,218,000 25,218,000   60,116,000  
Right-of-use assets, net 10,642,000 11,432,000   20,404,000  
Intangible assets, net 2,643,000 2,826,000   3,557,000  
Goodwill 4,508,000 4,508,000   4,508,000  
Other long-term assets 513,000 539,000   839,000  
Total assets 180,055,000 186,079,000   166,389,000  
Current liabilities:          
Accounts payable 24,185,000 21,496,000   6,963,000  
Other accrued current liabilities 36,526,000 47,879,000   11,378,000  
Current portion of operating lease liability 2,530,000 2,978,000   3,077,000  
Current portion of liability related to sale of future royalties 1,862,000 1,381,000   4,060,000  
Total current liabilities 76,842,000 86,754,000   90,878,000  
Operating lease liability, net of current portion 5,438,000 6,007,000   14,449,000  
Liability related to sale of future royalties, net of current portion 2,372,000 2,679,000   1,698,000  
Other long-term liabilities 841,000 817,000   439,000  
Total liabilities 85,938,000 98,281,000   107,464,000  
Commitments and contingencies (Note 8)    
Stockholders’ equity:          
Preferred stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of March 31, 2026 and December 31, 2025 0 0   0  
Common stock: $0.0001 par value; 350,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 242,169,130 shares issued and 241,414,053 shares outstanding as of March 31, 2026 and 240,742,681 shares issued and 240,494,594 shares outstanding as of December 31, 2025 24,000 24,000   23,000  
Additional paid-in capital 549,613,000 548,131,000   535,770,000  
Treasury stock at cost, 755,077 shares as of March 31, 2026 and 248,087 shares as of December 31, 2025 (497,000) (159,000)   (350,000)  
Accumulated deficit (455,016,000) (460,195,000)   (476,522,000)  
Accumulated other comprehensive loss (7,000) (3,000)   4,000  
Total stockholders’ equity 94,117,000 87,798,000 $ 45,618,000 58,925,000 $ 57,805,000
Total liabilities and stockholders’ equity 180,055,000 186,079,000   166,389,000  
Government Contract [Member]          
Current liabilities:          
Deferred revenue 23,000 68,000   65,400,000  
Collaboration Revenue [Member]          
Current liabilities:          
Deferred revenue 11,716,000 12,952,000   0  
Deferred collaboration revenue, net of current portion $ 445,000 $ 2,024,000   $ 0