v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net income (loss) $ 5,179,000 $ (15,591,000) $ 16,327,000 $ (66,948,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation and amortization 1,126,000 2,247,000 8,579,000 8,850,000
Loss on sale of property and equipment 10,000 0 38,000 0
Net accretion of discounts on investments (56,000) (119,000) (278,000) (761,000)
Stock-based compensation 1,482,000 2,459,000 8,314,000 11,501,000
Non-cash interest expense related to sale of future royalties 505,000 997,000 2,823,000 2,969,000
Non-cash revenue related to sale of future royalties (331,000) (3,021,000) (4,521,000) (3,637,000)
Change in operating assets and liabilities:        
Accounts receivable 7,425,000 4,261,000 (8,803,000) (2,753,000)
Unbilled receivable from government contracts (13,654,000) (8,414,000) (30,573,000) (6,208,000)
Prepaid expenses and other assets 7,889,000 (17,000) (16,103,000) (1,666,000)
Accounts payable 2,674,000 9,758,000 14,639,000 5,273,000
Accrued and other liabilities (11,443,000) (2,112,000) 33,735,000 3,332,000
Net cash used in operating activities (2,054,000) (9,599,000) 7,714,000 (44,764,000)
Cash flows from investing activities:        
Purchases of property and equipment (448,000) (130,000) (145,000) (554,000)
Proceeds from sale of property and equipment 3,000 0 5,000 0
Purchases of investments (10,231,000) (7,338,000) (23,228,000) (64,270,000)
Proceeds from maturities of investments 10,000,000 20,700,000 40,000,000 43,500,000
Net cash (used in) provided by investing activities (676,000) 13,232,000 16,632,000 (21,324,000)
Cash flows from financing activities:        
Proceeds from issuance of common stock upon exercise of stock options 0 3,000 3,000 30,000
Shares acquired to settle employee tax withholding liabilities (338,000) (167,000) (199,000) (214,000)
Net cash used in financing activities (338,000) (164,000) 4,239,000 56,562,000
Net increase (decrease) in cash and cash equivalents (3,068,000) 3,469,000 28,585,000 (9,526,000)
Cash and cash equivalents at beginning of the period 53,814,000 25,229,000 25,229,000 34,755,000
Cash and cash equivalents at end of the period 50,746,000 28,698,000 53,814,000 25,229,000
Supplemental disclosure of non-cash investing and financing activity:        
Acquisition of property and equipment included in accounts payable and accrued expenses 0 9,000 166,000 106,000
Government Contract [Member]        
Change in operating assets and liabilities:        
Deferred revenue (45,000) (47,000) (65,332,000) 65,400,000
Collaboration Revenue [Member]        
Change in operating assets and liabilities:        
Deferred revenue $ (2,815,000) $ 0 $ 14,976,000 $ 0