v3.26.3
Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets      
Cash and cash equivalents $ 20,213 $ 17,868 $ 26,587
Short-term investments 52,413 89,713 125,527
Prepaid expenses and other current assets 1,021 2,030 2,276
Total current assets 73,647 109,611 154,390
Property and equipment, net 97 3,216 4,321
Right-of-use asset, net 0 43,659 47,039
Restricted cash 0 560 560
Other assets 0 13 99
Total assets 73,744 157,059 206,409
Current liabilities      
Accounts payable and accrued liabilities 4,995 6,727 5,354
Accrued compensation 2,773 2,643 2,781
Lease liabilities, current portion 0 3,167 0
Total current liabilities 7,768 12,537 8,135
Lease liabilities, non-current 0 45,868 47,632
Total liabilities 7,768 58,405 55,767
Commitments and contingencies (Notes 8)
Stockholders' equity:      
Preferred stock, $0.0001 par value; 70,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and December 31, 2024 0 0 0
Common stock, $0.0001 par value; 700,000 shares authorized, 22,407 shares issued and outstanding as of December 31, 2025; 700,000 shares authorized, 22,300 shares issued and outstanding as of December 31, 2024 2 2 2
Additional paid-in-capital 362,923 358,257 351,991
Accumulated other comprehensive income (loss) (32) 64 121
Accumulated deficit (296,917) (259,669) (201,472)
Total stockholders' equity 65,976 98,654 150,642
Total liabilities and stockholders' equity $ 73,744 $ 157,059 $ 206,409