CONSOLIDATED BALANCE SHEETS $ in Thousands	Dec. 31, 2024 USD ($)
Current Assets:
Cash and cash equivalents	$ 19,926
Investment in marketable securities (Note 6)	41,590
Prepaid and other current assets	2,921
Total Current Assets	64,437
Non-current Assets:
Property and equipment, net (Note 7)	113
Operating lease right of use assets (Note 9)	93
Non-current prepaid expenses and other assets	2,262
Total Non-current Assets	2,468
Total Assets	66,905
Current Liabilities:
Trade payables	2,707
Accrued expenses (Note 8)	9,272
Employee-related obligations	1,428
Operating lease liabilities (Note 9)	99
Other current liabilities	1,313
Total Current Liabilities	14,819
Total Liabilities	14,819
Commitments and Contingencies (Note 11)
Shareholders' Equity:
Preferred stock: $0.0001 par value; 20,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock: $0.0001 par value; 150,000,000 shares authorized at December 31, 2025 and December 31, 2024; 33,323,171 and 14,830,013 shares issued and outstanding at December 31, 2025 and 2024, respectively	1
Additional paid-in capital	783,235
Accumulated other comprehensive income	20
Accumulated deficit	(731,170)
Total Stockholders' Equity	52,086
Total Liabilities and Stockholders' Equity	$ 66,905

Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).