v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 24,883 $ 45,445
Short-term investments 133,218 145,499
Prepaid expenses and other current assets (Note 5) 4,135 4,464
Property and equipment held for sale (Note 4) 906 1,040
Total current assets 163,142 196,448
Property and equipment, net (Note 4) 2,414 2,940
Operating lease right-of-use assets (Note 15) 22,289 23,966
Restricted cash 1,482 1,482
Other non-current assets 554 392
Total assets 189,881 225,228
Current liabilities    
Accounts payable 1,531 480
Accrued research and development 9,028 4,804
Accrued liabilities (Note 6) 3,653 9,634
Operating lease liabilities, current (Note 15) 2,272 1,447
Total current liabilities 16,484 16,365
Operating lease liabilities, non-current (Note 15) 26,471 27,658
Long-term debt (Note 7) 0 0
Total liabilities 42,955 44,023
Commitments and Contingencies (Note 14)
Stockholders’ equity    
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at June 30, 2026 and December 31, 2025, 300,000 shares designated as Series A Junior Participating Preferred Stock at June 30, 2026 and December 31, 2025; and none issued or outstanding at June 30, 2026 and December 31, 2025 (Note 8 and 10) 0 0
Common stock, $0.0001 par value per share; 300,000,000 shares authorized at June 30, 2026 and December 31, 2025; and 61,920,154 and 61,449,290 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively (Note 9) 6 6
Additional paid-in capital 1,049,124 1,040,610
Accumulated deficit (901,807) (859,396)
Accumulated other comprehensive loss (397) (15)
Total stockholders’ equity 146,926 181,205
Total liabilities and stockholders’ equity $ 189,881 $ 225,228