v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 24,772 $ 25,179
Marketable securities 233,613 267,168
Accounts receivable, net 343 329
Inventory 3,498 2,936
Prepaid expenses and other current assets 6,141 5,800
Total current assets 268,367 301,412
Property and equipment, net 1,096 1,189
Operating lease right-of-use asset 619 734
Other assets 2,453 2,541
Total assets 272,535 305,876
Current liabilities:    
Accounts payable 10,929 4,167
Accrued liabilities 14,877 17,020
Total current liabilities 25,806 21,187
Operating lease liability, net 237 350
Total liabilities 26,043 21,537
Commitments and contingencies (Note 6)
Stockholders' equity:    
Preferred stock, par value of $0.00001 per share; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, par value of $0.00001 per share; 300,000,000 shares authorized; 31,354,394 and 31,344,782 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 515,570 511,237
Accumulated deficit (268,629) (227,141)
Accumulated other comprehensive (loss) income (450) 242
Total stockholders’ equity 246,492 284,339
Total liabilities and stockholders’ equity $ 272,535 $ 305,876