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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 35,965 $ 71,308
Receivables from collaborative partners 6,851 1,419
Short-term investments 354,939 369,933
Prepaid expenses and other current assets 9,080 4,545
Total current assets 406,835 447,205
Property and equipment, net 2,098 2,089
Operating lease right-of-use assets 16,174 17,898
Long-term investments 27,026 142,935
Other long-term assets 256 256
Total assets 452,389 610,383
Current liabilities:    
Accounts payable 4,698 2,784
Accrued expenses 30,967 21,633
Current portion of operating lease liability 1,777 1,637
Total current liabilities 37,442 26,054
Liability related to sale of future royalties 310,807 304,413
Operating lease liability, net of current portion 16,037 17,813
Stockholders’ equity:    
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at December 31, 2023 and December 31, 2022, respectively 0 0
Common stock, $0.001 par value, 500,000 shares authorized, 26,597 shares and 28,513 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 27 29
Additional paid in capital 702,969 717,797
Accumulated other comprehensive loss (797) (5,246)
Accumulated deficit (614,096) (450,477)
Total stockholders’ equity 88,103 262,103
Total liabilities and stockholders’ equity $ 452,389 $ 610,383