v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 71,317 $ 73,046
Short-term investments 112,899 32,914
Accounts receivable, net 1,605  
License receivable 1,546 1,546
Research and development tax credits receivable 425 316
Prepaid expenses 1,210 1,805
Inventory, net 1,826 648
Other receivables 1,425 1,646
Total current assets 192,253 111,921
Operating lease right-of-use assets 981 1,129
Property and equipment, net 500 511
Total assets 193,734 113,561
Current liabilities    
Accounts payable 10,023 5,645
Accrued liabilities 9,803 7,644
Operating lease liabilities 659 647
Deferred revenue 416  
Other current liabilities 43 43
Total current liabilities 20,944 13,979
Operating lease liabilities, net of current portion 366 539
Senior secured convertible notes 58,192 57,191
Royalty financing obligation, long-term 78,111 75,000
Other long-term liabilities 72 83
Total liabilities 157,685 71,792
Shareholders' Equity    
Common shares, no par value, unlimited shares authorized, 117,794,417 shares issued and outstanding as of March 31, 2026, 106,236,344 shares issued and outstanding as of December 31, 2025 373,702 352,619
Pre-funded warrants - 16,412,925 issued and outstanding as of March 31, 2026 and 16,412,925 as of December 31, 2025 55,649 55,649
Additional paid-in capital 63,367 64,104
Accumulated deficit (456,669) (430,603)
Total shareholders' equity 36,049 41,769
Total liabilities and shareholders' equity $ 193,734 $ 113,561