v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 20,429 $ 9,923
Accounts receivable 838 503
Prepaid expenses and other current assets 2,189 1,643
Total current assets 23,456 12,069
Property, plant, and equipment, net 4,919 6,300
Operating lease right-of-use assets 21,015 21,557
Intangible assets, net 30,770 31,679
Goodwill 232,516 232,516
Other non-current assets 771 926
Total assets 313,447 305,047
Current liabilities:    
Accounts payable 5,612 8,070
Accrued expenses 1,893 1,946
Accrued compensation 2,606 3,061
Deferred revenue 627 536
Current portion of notes payable 812 435
Current portion of operating lease obligations 2,859 2,731
Class A common stock warrants 38 79
Total current liabilities 14,447 16,858
Notes payable, net of current portion 53 93
Operating lease obligations, net of current portion 29,018 29,783
Royalty liability - related parties 253,519 234,923
Other non-current liabilities 1,608 1,561
Total liabilities 298,645 283,218
Commitments and contingencies (See Note 8)
Stockholders’ equity:    
Additional paid-in capital 918,639 882,171
Class A common stock in treasury, at cost; 249,317 shares as of June 30, 2026, and 193,195 shares as of December 31, 2025 (2,256) (2,141)
Accumulated deficit (901,618) (858,251)
Accumulated other comprehensive income 24 39
Total stockholders’ equity 14,802 21,829
Total liabilities and stockholders’ equity 313,447 305,047
Common Class A    
Stockholders’ equity:    
Common stock 13 11
Common Class B    
Stockholders’ equity:    
Common stock $ 0 $ 0