v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash $ 11,198 $ 30,147
Accounts receivable 10,939 5,260
Collaboration receivable, billed and unbilled 151 137
Deferred R&D services, current portion (Note 10) 2,718 1,958
Insurance recovery asset 2,302 0
Inventory 2,712 2,236
Prepaid expenses and other current assets 2,619 2,801
Total current assets 32,639 42,539
Property and equipment, net 177 209
Operating lease right-of-use asset 384 540
Finance lease right-of-use asset 1,473 1,113
Deferred R&D services, non-current portion (Note 10) 706 2,354
Other non-current assets 638 376
Total assets 36,017 47,131
Current liabilities:    
Accounts payable 1,603 2,072
Accrued expenses and other current liabilities 14,548 12,837
Deferred revenue 1,335 782
Legal settlement liability 4,000 0
Operating lease liability 355 341
Finance lease liability 601 405
Total current liabilities 22,442 16,437
Operating lease liability 61 242
Finance lease liability 793 643
R&D funding liability (Note 10) 8,414 5,066
Total liabilities 31,710 22,388
Commitments and Contingencies (Note 5)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 200,000,000 authorized; 17,189,300 shares issued and 17,178,786 shares outstanding as of June 30, 2026 and December 31, 2025 2 2
Treasury stock, at cost, 10,514 shares as of June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 352,053 349,654
Accumulated deficit (347,748) (324,913)
Total stockholders’ equity 4,307 24,743
Total liabilities and stockholders’ equity $ 36,017 $ 47,131