v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 32,323 $ 69,276
Short-term investments 18,744 19,055
Prepaid expenses and other current assets 3,741 1,127
Total current assets 54,808 89,458
Restricted cash 631 631
Property and equipment, net 1,014 1,472
Operating lease right-of-use asset 386 535
Other long-term assets 55 55
Total assets 56,894 92,151
Current liabilities:    
Accounts payable 2,420 4,587
Accrued liabilities 4,906 4,963
Sermonix pre-funded warrant   37,488
Current operating lease liability 491 465
Total current liabilities 7,817 47,503
Operating lease liability, less current portion 86 338
Milestone liability 14,362 15,116
Other long-term liabilities 1,034 1,404
Total liabilities 23,299 64,361
Stockholders' equity:    
Common stock, $0.0001 par value;400,000,000 and 90,000,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 9,421,663 and 9,335,913 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 597,313 539,548
Accumulated other comprehensive (loss) income (9) (4)
Accumulated deficit (563,710) (511,755)
Total stockholders' equity 33,595 27,790
Total liabilities and stockholders' equity $ 56,894 $ 92,151