v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 48,488 $ 30,629
Short-term investments 188,388 114,108
Accounts receivable, net of allowance for doubtful accounts: $375 for each period 269 6
Prepaid expenses and other current assets 4,378 3,646
Total current assets 241,523 148,389
Noncurrent assets:    
Property and equipment, net 107,797 76,597
Right-of-use asset 2,196 1,500
Intangible assets, in-process research and development 40,000 40,000
Other assets 509 486
Total assets 392,025 266,972
Current liabilities:    
Accounts payable and accrued expenses 29,418 20,511
Lease liability 1,097 623
Accrued personnel expenses 5,972 7,489
Note payable 57 56
Total current liabilities 36,544 28,679
Noncurrent liabilities:    
Lease liability, net of current portion 1,269 1,005
Note payable, net of current portion 1,540 1,569
Deferred Income (Note 3) 26,600 26,600
Deferred tax liability 1,702 1,702
Other noncurrent liabilities 507 386
Total liabilities 68,162 59,941
Commitments and contingencies (Note 10)
Stockholders' equity:    
Preferred stock: $0.001 par value; 7,000,000 shares authorized; 5,000,000 designatedSeries B convertible; no shares issued 0 0
Common stock: $0.001 par value; 750,000,000 shares authorized; 114,086,092 and 74,337,990 shares issued 114 74
Additional paid-in capital 711,785 541,687
Accumulated other comprehensive (loss) income (221) 110
Accumulated deficit (387,815) (334,840)
Total stockholders' equity 323,863 207,031
Total liabilities and stockholders' equity $ 392,025 $ 266,972