v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 9,197 $ 17,470
Short-term investments 25,323 40,834
Accounts receivable and unbilled receivable 189 182
Prepaid expenses and other current assets 883 1,642
Total current assets 35,592 60,128
Property and equipment, net 450 578
Operating lease right-of-use assets 360 629
Other assets 927 549
Total Assets 37,329 61,884
Current liabilities:    
Accounts payable 3,986 8,087
Accrued liabilities 6,354 7,577
Operating lease liabilities 457 730
Total current liabilities 10,797 16,394
Operating lease liabilities, net of current portion 0 102
Total Liabilities 10,797 16,496
Commitments and contingencies (Note 6)
Stockholders’ equity    
Preferred stock, $0.001 par value, 20,000 shares authorized; 277 designated as Series A Convertible Preferred Stock; 61 shares outstanding at June 30, 2026 and December 31, 2025 with liquidation preference of $1,129 and $1,117 at June 30, 2026 and December 31, 2025, respectively 0 0
Common stock, $0.0001 par value, 150,000 shares authorized; 68,502 and 68,305 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 7 7
Additional paid-in capital 478,194 475,361
Accumulated other comprehensive gain (loss) (62) 50
Accumulated deficit (451,607) (430,030)
Total stockholders’ equity 26,532 45,388
Total liabilities and stockholders’ equity $ 37,329 $ 61,884