v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,152 $ 22,808
Short-term investments 104,937 110,528
Prepaid expenses and other current assets 2,485 2,352
Total current assets 113,574 135,688
Operating lease asset, net 530 613
In-process research and development 32,386 32,386
Other assets 177 322
Total assets 146,667 169,009
Current liabilities:    
Accounts payable 6,585 3,627
Current operating lease liabilities 369 358
Accrued expenses and other liabilities 6,504 14,359
Total current liabilities 13,458 18,344
Deferred tax liabilities 2,187 2,187
Non-current operating lease liabilities 186 283
Warrant liabilities 30,378 11,416
Total liabilities 46,209 32,230
Commitments and contingencies (Note 7)
Stockholders' equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized at March 31, 2026 and December 31, 2025; 75,851,722 and 75,430,033 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 76 75
Additional paid-in capital 484,988 482,189
Accumulated other comprehensive income (loss) (72) 24
Accumulated deficit (440,228) (401,203)
Total stockholders’ equity 44,764 81,085
Total liabilities, convertible preferred stock and stockholders' equity 146,667 169,009
Series X1 Non-voting Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock, value 53,543 53,543
Series X Non-Voting Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock, value $ 2,151 $ 2,151