v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 34,427 $ 98,054
Short-term marketable securities 62,788 19,928
Deferred transaction costs 389 0
Prepaid expenses and other current assets 861 827
Total current assets 98,465 118,809
Long-term marketable securities 7,654 0
Operating lease right-of-use assets 1,433 1,475
Restricted cash 500 499
Other non-current assets 1,753 953
Total assets 109,805 121,736
Current liabilities:    
Accounts payable 905 1,281
Accrued expenses and other current liabilities (including $73 and $67 due to a related party) 6,857 8,117
Operating lease liabilities, current 317 316
Total current liabilities 8,079 9,714
Royalty obligation - related party 32,076 32,076
Operating lease liabilities, long-term 1,093 1,132
Total liabilities 41,248 42,922
Stockholders' equity:    
Common stock, $0.0001 and $0.0001 par value as of March 31, 2026 and December 31, 2025, respectively; 300,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 22,992,291 and 22,902,418 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 2 2
Additional paid-in capital 239,459 238,805
Accumulated other comprehensive income (49) 6
Accumulated deficit (170,855) (159,999)
Total stockholders' equity 68,557 78,814
Total liabilities and stockholders' equity $ 109,805 $ 121,736