v3.26.3
Unaudited 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 $ (22,360) $ (20,867)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,710 2,165
Accretion of investments discount (184) (412)
Amortization of debt issuance costs and discount 0 312
Change in fair value of warrant liabilities (8,719) (4,454)
Noncash operating lease expense for right-of-use asset 285 239
Offering costs for March 2026 Private Placement warrant issuance 891 0
Changes in operating assets and liabilities:    
Prepaid expenses, other current assets, deferred costs, and other (2,479) 1,745
License agreement receivable 0 (9,247)
License agreement contract asset 0 9,509
Accounts payable 1,307 (992)
Accrued expenses (314) (1,019)
Deferred revenue (235) (365)
Other liabilities (354) (298)
Net cash used in operating activities (30,452) (23,684)
Cash flows from investing activities:    
Purchase of investments (39,488) 0
Maturity of investments 20,005 36,130
Net cash (used in) provided by investing activities (19,483) 36,130
Cash flows from financing activities:    
Proceeds from common stock and pre-funded warrants issued for March 2026 Private Placement (Note 12) 40,019 0
Proceeds from common stock issued 0 4
Payment of convertible debt 0 (14,000)
Payment of offering costs (3,145) (110)
Proceeds from employee stock purchase plan issuances 30 51
Net cash provided by (used in) financing activities 36,904 (14,055)
Net decrease in cash, cash equivalents, and restricted cash (13,031) (1,609)
Cash, cash equivalents, and restricted cash at beginning of period 21,448 16,595
Cash, cash equivalents, and restricted cash at end of period 8,417 14,986
Supplemental cash flow information:    
Cash paid for interest 0 420
Cash received for interest 1,572 1,632
Noncash financing activities:    
Offering costs included in accounts payable and accrued expenses 95 0
Reclass of warrant liability for March 2026 Private Placement to additional paid-in capital $ 3,914 $ 0