v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 36,671 $ 21,259
Short-term investments 22,592 18,772
Prepaid expenses and other current assets 919 263
Restricted cash 80 80
Deferred offering costs 2,429 0
Total current assets 62,691 40,374
Investments 13,153 16,247
Deferred offering costs 0 533
Restricted cash 109 109
Operating lease right-of-use asset 1,673 1,764
Total assets 77,626 59,027
Current liabilities:    
Accounts payable 5,632 2,225
Accrued expenses 1,529 2,791
Asset Purchase Agreement payable (Note 10) 8,000 0
Deferred revenue 235 235
Operating lease liability, current portion 504 483
Total current liabilities 15,900 5,734
Warrant liabilities 18,862 2,225
Operating lease liability 1,557 1,692
Total liabilities 36,319 9,651
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value, authorized 5,000,000 shares as of March 31, 2026 and December 31, 2025; 0 shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value, 150,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 62,051,330 and 43,541,510 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 64 46
Additional paid-in capital 447,686 434,474
Accumulated deficit (406,443) (385,144)
Total stockholders' equity 41,307 49,376
Total liabilities and stockholders’ equity $ 77,626 $ 59,027