v3.26.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets:      
Cash and cash equivalents $ 133,826,000 $ 138,196,000 $ 23,080,000
Receivables from collaborative partners 25,634,000 33,850,000 40,765,000
Short-term investments 30,317,000 73,442,000 262,293,000
Prepaid expenses and other current assets 8,650,000 0 1,178,000
Current assets of discontinued operations 0 104,762,000 104,560,000
Total current assets 198,427,000 350,250,000 431,876,000
Property and equipment, net 102,000 111,000 131,000
Deferred tax asset 106,639,000 0 0
Operating lease right-of-use assets 11,560,000 12,519,000 14,383,000
Long-term investments 0 0 35,470,000
Other long-term assets 256,000 256,000 256,000
Non-current assets of discontinued operations 0 1,259,000 1,718,000
Total assets 316,984,000 364,395,000 483,834,000
Current liabilities:      
Accounts payable 4,394,000 3,871,000 4,002,000
Accrued expenses 28,798,000 32,674,000 39,501,000
Current portion of operating lease liability 2,161,000 2,080,000 1,925,000
Total current liabilities 35,353,000 38,625,000 45,428,000
Liability related to sale of future royalties 256,493,000 276,528,000 353,426,000
Long-term taxes payable 3,619,000 0 0
Operating lease liability, net of current portion 10,934,000 12,032,000 14,112,000
Stockholders' equity:      
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at June 30, 2026, December 31, 2025 and December 31, 2024, respectively 0 0 0
Common stock, $0.001 par value, 500,000 shares authorized, 29,728 shares, 28,019 shares and 30,473 shares issued and outstanding at June 30, 2026, December 31, 2025, and December 31, 2024, respectively 30,000 28,000 30,000
Additional paid in capital 652,269,000 809,765,000 829,860,000
Accumulated other comprehensive (loss) gain (151,000) (24,000) 305,000
Accumulated deficit (641,563,000) (772,559,000) (759,327,000)
Total stockholders' equity 10,585,000 37,210,000 70,868,000
Total liabilities and stockholders' equity $ 316,984,000 $ 364,395,000 $ 483,834,000