v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows used in operating activities:    
Net loss $ (51,093) $ (44,085)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 552 773
Share-based compensation 3,393 5,759
(Gain) loss on disposal of assets (5) 34
Non-cash interest expense 115 146
Amortization of right-of-use assets 691 628
Loss on changes in other fair value adjustments 3,195 2,415
Gain from equity method investment 0 (677)
Amortization of discount on note receivable 0 (451)
Loss on change in fair value of warrant liability 20,998 51
Changes in operating assets and liabilities:    
Prepaid expenses (885) (1,009)
Marketable securities 80 464
Accounts receivable 0 229
Contract asset 0 1,469
Other assets and other current assets 120 (45)
Accounts payable 526 93
Other liabilities and other current liabilities (2,342) (4,441)
Deferred revenue 0 (43)
Lease liabilities (724) (633)
Net cash used in operating activities (25,379) (39,323)
Cash flows used in investing activities:    
Purchases of property, equipment and software (18) (66)
Purchases of intangible assets (100) (265)
Proceeds from sale of equipment 5 5
Net cash used in investing activities (113) (326)
Cash flows provided by financing activities:    
Proceeds from employee stock purchase plan 83 140
Proceeds from issuance of common stock through ATM facility, net of issuance cost 0 14,816
Proceeds from issuance of common stock to collaboration partners and licensees 662 1,031
Net cash provided by financing activities 745 15,987
Net decrease in cash and cash equivalents (24,747) (23,662)
Cash, cash equivalents, and restricted cash — beginning of period 137,153 108,468
Cash, cash equivalents, and restricted cash — end of period 112,406 84,806
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 86,076 62,242
Restricted cash 26,330 22,564
Total of cash, cash equivalents and restricted cash 112,406 84,806
Supplemental disclosures of cash flow information:    
Intangible asset additions included in accounts payable and accrued expenses and other current liabilities 200 0
Cash paid for interest $ 599 $ 685