v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 30,325 $ 9,923
Accounts receivable 1,703 503
Prepaid expenses and other current assets 1,041 1,643
Total current assets 33,069 12,069
Property, plant, and equipment, net 5,642 6,300
Operating lease right-of-use assets 20,927 21,557
Intangible assets, net 31,224 31,679
Goodwill 232,516 232,516
Other non-current assets 824 926
Total assets 324,202 305,047
Current liabilities:    
Accounts payable 5,410 8,070
Accrued expenses 2,027 1,946
Accrued compensation 3,011 3,061
Deferred revenue 449 536
Current portion of notes payable 194 435
Current portion of operating lease obligations 2,764 2,731
Class A common stock warrants 89 79
Total current liabilities 13,944 16,858
Notes payable, net of current portion 73 93
Operating lease obligations, net of current portion 29,076 29,783
Royalty liability - related parties 244,044 234,923
Other non-current liabilities 1,585 1,561
Total liabilities 288,722 283,218
Commitments and contingencies (See Note 8)
Stockholders’ equity:    
Additional paid-in capital 917,136 882,171
Class A common stock in treasury, at cost; 225,891 shares as of March 31, 2026, and 193,195 shares as of December 31, 2025 (2,221) (2,141)
Accumulated deficit (879,473) (858,251)
Accumulated other comprehensive income 25 39
Total stockholders’ equity 35,480 21,829
Total liabilities and stockholders’ equity 324,202 305,047
Common Class A    
Stockholders’ equity:    
Common stock 13 11
Common Class B    
Stockholders’ equity:    
Common stock $ 0 $ 0