v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ (31,618) $ 21,031
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Stock-based compensation expense 5,364 7,641
Depreciation and amortization expense 1,932 3,179
Impairment of long-lived assets 11,512 0
Non-cash operating lease cost 5,171 6,234
Gain on sale of VOWST business (25,000) 0
Loss on disposal of fixed assets 354 0
Changes in operating assets and liabilities:    
Accounts receivable due from SPN - related party 360 1,642
Accounts receivable (26) (351)
Prepaid expenses and other current and other non-current assets 1,244 2,701
Accounts payable (221) (2,402)
Accrued liabilities due to SPN - related party 0 (13,300)
Operating lease liabilities (16,272) (6,387)
Accrued expenses and other current and long-term liabilities (2,031) (4,161)
Net cash (used in) provided by operating activities (49,231) 15,827
Cash flows from investing activities:    
Purchases of property and equipment 0 (223)
Sales of property and equipment 66 0
Proceeds from VOWST milestone termination payment 12,500 0
Net cash provided by (used in) investing activities 12,566 (223)
Cash flows from financing activities:    
Proceeds from at the market equity offering, net of issuance costs 2,856 996
Proceeds from exercise of stock options 0 15
Issuance of common stock under ESPP 39 230
Net cash provided by financing activities 2,895 1,241
Net (decrease) increase in cash, cash equivalents, and restricted cash (33,770) 16,845
Cash, cash equivalents and restricted cash at beginning of period 54,434 39,461
Cash, cash equivalents and restricted cash at end of period 20,664 56,306
Supplemental disclosure of non-cash investing and financing activities:    
Reduction in ROU asset and lease liability due to lease modification 30,422 0
Equity issued in connection with lease termination $ 500 $ 0