v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 22,190 $ 45,445
Short-term investments 148,702 145,499
Prepaid expenses and other current assets (Note 5) 3,132 4,464
Property and equipment held for sale (Note 4) 906 1,040
Total current assets 174,930 196,448
Property and equipment, net (Note 4) 2,664 2,940
Operating lease right-of-use assets (Note 15) 23,131 23,966
Restricted cash 1,482 1,482
Other non-current assets 389 392
Total assets 202,596 225,228
Current liabilities    
Accounts payable 362 480
Accrued research and development 4,141 4,804
Accrued liabilities (Note 6) 4,143 9,634
Operating lease liabilities, current (Note 15) 1,713 1,447
Total current liabilities 10,359 16,365
Operating lease liabilities, non-current (Note 15) 27,071 27,658
Long-term debt (Note 7) 0 0
Total liabilities 37,430 44,023
Commitments and Contingencies (Note 14)
Stockholders’ equity    
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025, 300,000 shares designated as Series A Junior Participating Preferred Stock at March 31, 2026 and December 31, 2025; and none issued or outstanding at March 31, 2026 and December 31, 2025 (Note 8 and 10) 0 0
Common stock, $0.0001 par value per share; 300,000,000 shares authorized at March 31, 2026 and December 31, 2025; and 61,914,569 and 61,449,290 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively; (Note 9) 6 6
Additional paid-in capital 1,044,937 1,040,610
Accumulated deficit (879,436) (859,396)
Accumulated other comprehensive loss (341) (15)
Total stockholders’ equity 165,166 181,205
Total liabilities and stockholders’ equity $ 202,596 $ 225,228