v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 20,472 $ 34,690
Marketable securities 89,491 71,822
Accounts receivable, net 51 95
Inventory 250 310
Prepaid expenses and other current assets 977 994
Total current assets 111,241 107,911
Property and equipment, net 2,045 1,715
Right-of-use assets 1,171 1,496
Strategic investments   2,495
Deposits and other assets 1,243 1,240
TOTAL ASSETS 115,700 114,857
CURRENT LIABILITIES:    
Accounts payable 6,132 6,095
Accrued expenses and other liabilities 6,531 9,890
Operating lease liability, current portion 808 751
Total current liabilities 13,471 16,736
Royalty purchase agreement 34,593 16,482
Note payable 20,442  
Loans payable 14,397 14,268
Derivative liability 2,460 2,749
Operating lease liability, less current portion 520 936
Other long-term liabilities 397 308
TOTAL LIABILITIES 86,280 51,479
Series A Preferred Stock, $0.0001 par value per share; 200,000 issued and outstanding at June 30, 2026 and December 31, 2025; aggregate liquidation preference of $20,000 10,097 9,808
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized;
Common stock, $0.0001 par value per share; 340,000,000 shares authorized; 60,105,049 and 57,032,963 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. 6 6
Additional paid-in capital 426,423 416,083
Accumulated other comprehensive (loss) income (81) 60
Accumulated deficit (407,025) (362,579)
TOTAL STOCKHOLDERS' EQUITY 19,323 53,570
TOTAL LIABILITIES, SERIES A PREFERRED STOCK AND STOCKHOLDERS' EQUITY $ 115,700 $ 114,857