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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 44,298 $ 123,080
Receivables from collaborative partners 21,418 40,765
Short-term investments 221,412 262,293
Prepaid expenses and other current assets 4,778 5,738
Total current assets 291,906 431,876
Property and equipment, net 1,628 1,849
Operating lease right-of-use assets 13,464 14,383
Long-term investments 27,996 35,470
Other long-term assets 256 256
Total assets 335,250 483,834
Current liabilities:    
Accounts payable 3,329 4,002
Accrued expenses 30,197 39,501
Current portion of operating lease liability 2,001 1,925
Total current liabilities 35,527 45,428
Liability related to sale of future royalties 331,361 353,426
Operating lease liability, net of current portion 13,095 14,112
Stockholders’ equity:    
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at June 30, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.001 par value, 500,000 shares authorized, 27,973 shares and 30,473 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 28 30
Additional paid in capital 792,531 829,860
Accumulated other comprehensive (loss) gain (6) 305
Accumulated deficit (837,286) (759,327)
Total stockholders’ (deficit) equity (44,733) 70,868
Total liabilities and stockholders’ equity $ 335,250 $ 483,834