v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (8,315,000) $ (30,577,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,867,000 4,444,000
Loss on sale of property and equipment 2,000 0
Net accretion of discounts on investments (140,000) (165,000)
Stock-based compensation 2,772,000 4,580,000
Change in fair value of equity-linked instrument 341,000 0
Non-cash interest expense related to sale of future royalties 1,043,000 1,669,000
Non-cash revenue related to sale of future royalties (372,000) (4,521,000)
Change in operating assets and liabilities:    
Accounts receivable 14,553,000 1,480,000
Unbilled receivable from government contracts (10,200,000) (30,573,000)
Prepaid expenses and other assets 15,215,000 1,534,000
Accounts payable (4,623,000) 3,648,000
Accrued and other liabilities (5,679,000) 22,959,000
Net cash provided by (used in) operating activities 724,000 (25,544,000)
Cash flows from investing activities:    
Purchases of property and equipment (483,000) (27,000)
Proceeds from sale of property and equipment 13,000 0
Purchases of investments (15,802,000) (9,808,000)
Proceeds from maturities of investments 12,880,000 30,300,000
Net cash (used in) provided by investing activities (3,392,000) 20,465,000
Cash flows from financing activities:    
Issuance cost of equity line of credit commitment shares (167,000) 0
Proceeds from issuance of common stock upon exercise of stock options 57,000 3,000
Shares acquired to settle employee tax withholding liabilities (364,000) (174,000)
Proceeds from issuance of treasury stock under the employee stock purchase plan 213,000 79,000
Net cash used in financing activities (217,000) (39,000)
Net decrease in cash and cash equivalents (2,885,000) (5,118,000)
Cash and cash equivalents at beginning of the period 53,814,000 25,229,000
Cash and cash equivalents at end of the period 50,929,000 20,111,000
Supplemental disclosure of non-cash investing and financing activity:    
Operating lease liabilities arising from obtaining right-of-use assets 661,000 0
Acquisition of property and equipment included in accounts payable and accrued expenses 1,329,000 6,000
At-the-market Facility [Member]    
Cash flows from financing activities:    
Net proceeds from issuance of common stock through at-the-market facilities 0 53,000
Equity Line of Credit [Member]    
Cash flows from financing activities:    
Net proceeds from issuance of common stock through at-the-market facilities 44,000 0
Government Contract [Member]    
Change in operating assets and liabilities:    
Deferred revenue (6,000) (23,000)
Collaboration Revenue [Member]    
Change in operating assets and liabilities:    
Deferred revenue $ (5,734,000) $ 0