v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 281,497 $ 287,415
Accounts receivable 400 3,567
Prepaid expenses and other current assets 6,530 22,202
Current income tax receivable 2,250 2,250
Total current assets 290,677 315,434
Operating lease right-of-use assets 16,205 16,841
Property and equipment, net 3,962 4,297
Restricted cash 1,449 1,449
TOTAL ASSETS 312,293 338,021
CURRENT LIABILITIES:    
Accounts payable 1,493 1,967
Current portion of operating lease liabilities 2,501 2,408
Accrued expenses and other current liabilities 8,859 16,039
Total current liabilities 12,853 20,414
Operating lease liabilities, net of current portion 13,810 14,475
Total liabilities 26,663 34,889
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of March 31, 2026 and December 31, 2025; no shares issued and outstanding 0 0
Common stock, par value of $0.0001 per share; 200,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 40,859,597 shares issued and 19,732,837 shares outstanding as of March 31, 2026 and 40,670,466 shares issued and 19,543,706 shares outstanding as of December 31, 2025 4 4
Treasury stock, at cost; 21,126,760 shares as of March 31, 2026 and December 31, 2025 (384,558) (384,558)
Additional paid-in capital 1,175,657 1,169,451
Accumulated deficit (505,473) (481,765)
Total stockholders' equity 285,630 303,132
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 312,293 338,021
Series A Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of March 31, 2026 and December 31, 2025; no shares issued and outstanding $ 0 $ 0