v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 50,929,000 $ 53,814,000
Short-term investments 13,047,000 9,993,000
Accounts receivable 11,000 14,564,000
Unbilled receivable from government contracts 46,981,000 36,781,000
Prepaid expenses and other current assets 5,723,000 20,971,000
Total current assets 116,691,000 136,123,000
Property and equipment, net 5,505,000 5,433,000
Prepaid clinical services, long-term 25,218,000 25,218,000
Right-of-use assets, net 10,230,000 11,432,000
Intangible assets, net 2,461,000 2,826,000
Goodwill 4,508,000 4,508,000
Other long-term assets 572,000 539,000
Total assets 165,185,000 186,079,000
Current liabilities:    
Accounts payable 16,972,000 21,496,000
Other accrued current liabilities 43,128,000 47,879,000
Current portion of operating lease liability 2,539,000 2,978,000
Current portion of liability related to sale of future royalties 2,688,000 1,381,000
Total current liabilities 73,108,000 86,754,000
Operating lease liability, net of current portion 5,268,000 6,007,000
Deferred collaboration revenue, net of current portion 1,523,000 2,024,000
Liability related to sale of future royalties, net of current portion 2,043,000 2,679,000
Other long-term liabilities 872,000 817,000
Total liabilities 82,814,000 98,281,000
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock: $0.0001 par value; 350,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 242,973,040 shares issued and 242,835,358 shares outstanding as of June 30, 2026 and 240,742,681 shares issued and 240,494,594 shares outstanding as of December 31, 2025 24,000 24,000
Additional paid-in capital 550,958,000 548,131,000
Treasury stock at cost, 137,682 shares as of June 30, 2026 and 248,087 shares as of December 31, 2025 (90,000) (159,000)
Accumulated deficit (468,510,000) (460,195,000)
Accumulated other comprehensive loss (11,000) (3,000)
Total stockholders’ equity 82,371,000 87,798,000
Total liabilities and stockholders’ equity 165,185,000 186,079,000
Government Contract [Member]    
Current liabilities:    
Deferred revenue 62,000 68,000
Collaboration Revenue [Member]    
Current liabilities:    
Deferred revenue 7,719,000 12,952,000
Deferred collaboration revenue, net of current portion $ 1,523,000 $ 2,024,000