v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 40,924 $ 34,326
Short-term investments 149,686 61,904
Accounts receivable, net 1,643 2,384
Inventory 1,196 281
Prepaid expenses and other current assets 3,128 3,000
Total current assets 196,577 101,895
Property and equipment, net 1,651 1,863
Goodwill 44,543 44,543
Operating lease right-of-use-assets 6,921 7,318
Restricted cash 0 29,000
Other assets 368 368
Total assets 250,060 184,987
Current liabilities:    
Accounts payable 2,343 3,083
Accrued liabilities 12,363 13,189
Current portion of long-term debt 0 4,595
Total current liabilities 14,706 20,867
Long-term debt, net 51,437 49,408
Other long-term liabilities 9,392 7,174
Total liabilities 75,535 77,449
Commitments and contingencies (Note 7)
Stockholders’ Equity:    
Series A Convertible Preferred Stock 2,304,147 shares issued and none outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value; 900,000,000 shares authorized at June 30, 2026; 446,870,629 and 365,848,216 shares issued, respectively 447 366
Additional paid-in capital 2,227,526 2,129,912
Accumulated deficit (2,050,401) (2,017,583)
Accumulated other comprehensive (loss) income (204) 30
Treasury stock, at cost, 1,933,747 and 2,381,939 shares, respectively (2,843) (5,187)
Total stockholders’ equity 174,525 107,538
Total liabilities and stockholders’ equity $ 250,060 $ 184,987