v3.26.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 54,080 $ 48,906
Prepaid expenses 864 353
Other current assets 88 2,853
Total current assets 55,032 52,112
Right-of-use assets 595 666
Other assets 539 243
Total assets 56,166 53,021
Current liabilities:    
Accounts payable 2,683 943
Accrued expenses and other current liabilities 8,101 9,143
Debt, current portion 1,000 0
Total current liabilities 11,784 10,086
Lease liabilities, net of current portion 332 419
Debt, net of current portion 5,464 0
Warrant liability 3,938 0
Total liabilities 21,518 10,505
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 200,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 1,372,278 and 1,372,043 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 0 0
Additional paid-in capital 336,148 331,750
Accumulated deficit (301,500) (289,234)
Total stockholders' equity 34,648 42,516
Total liabilities and stockholders’ equity $ 56,166 $ 53,021