v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Mar. 31, 2025
Current assets:      
Cash and cash equivalents $ 41,800 $ 33,180  
Short-term investments 131,234 202,522  
Prepaid expenses and other current assets 5,283 5,914  
Total current assets 178,317 241,616  
Property and equipment, net 641 100  
In-process R&D 11,289 11,636  
Other non-current assets 1,891 84  
Total assets 192,138 253,436  
Current liabilities:      
Accounts payable 7,000 5,757  
Accrued expenses and other current liabilities 10,599 14,639  
Total current liabilities 17,599 20,396  
Long-term liabilities:      
Long-term debt 30,109 29,907  
Other long-term liabilities 770 0  
Total liabilities 48,478 50,303  
Commitments and Contingencies (Note 9)  
Stockholders’ equity:      
Common stock, $0.001 par value, 600,000,000 authorized as of June 30, 2026 and 300,000,000 authorized as of December 31, 2025; 205,399,365 and 204,567,283 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 204 204  
Additional paid-in capital 829,589 811,103  
Accumulated other comprehensive loss (534) (87)  
Accumulated deficit (685,599) (608,087)  
Total stockholders’ equity 143,660 203,133 $ 147,850
Total liabilities and stockholders’ equity $ 192,138 $ 253,436