v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 122,975 $ 125,139
Accounts receivable 52 1,115
Prepaid expenses and other current assets 8,471 3,022
Total current assets 131,498 129,276
Property and equipment, net 10,731 12,185
Right-of-use assets, net 4,879 5,601
In-process research and development asset 93,900 93,900
Goodwill 48,163 48,163
Long-term restricted cash 1,735 1,735
Long-term prepaid expenses and other assets 3,399 5,551
Total assets 294,305 296,411
Current liabilities:    
Accounts payable 105 1,288
Accrued expenses and other current liabilities 11,383 9,498
Lease liabilities 4,210 4,151
Total current liabilities 15,698 14,937
Lease liabilities, net of current portion 5,906 8,525
Warrant liability, net of current portion 0 141
Long-term debt, net 50,220 0
Contingent value rights liability 346,000 392,100
Deferred tax liabilities, net 6,948 6,948
Total liabilities 424,772 422,651
Commitments and contingencies (Note 15)
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Common stock, $0.0001 par value; 350,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 30,487,384 and 26,011,106 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 3 3
Additional paid-in capital 731,409 700,706
Accumulated deficit (857,258) (822,373)
Accumulated other comprehensive loss (4,621) (4,576)
Total stockholders’ deficit (130,467) (126,240)
Total liabilities and stockholders’ deficit 294,305 296,411
Series A Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Series B Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued $ 0 $ 0