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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 287,415 $ 559,931
Accounts receivable 3,567 2,742
Prepaid expenses and other current assets 22,202 26,220
Current income tax receivable 2,250 0
Total current assets 315,434 588,893
Operating lease right-of-use assets 16,841 19,251
Property and equipment, net 4,297 4,237
Restricted cash 1,449 1,449
Other long term assets 0 2,056
TOTAL ASSETS 338,021 615,886
CURRENT LIABILITIES:    
Accounts payable 1,967 4,602
Current portion of operating lease liabilities 2,408 1,978
Accrued expenses and other current liabilities 16,039 20,870
Total current liabilities 20,414 27,450
Operating lease liabilities, net of current portion 14,475 16,883
Total liabilities 34,889 44,333
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS’ EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued and outstanding 0 0
Common stock, par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 40,670,466 shares issued and 19,543,706 shares outstanding as of December 31, 2025 and 40,554,705 shares issued and outstanding as of December 31, 2024 4 4
Treasury stock, at cost; 21,126,760 and no shares as of December 31, 2025 and December 31, 2024, respectively (384,558) 0
Additional paid-in capital 1,169,451 1,140,328
Accumulated deficit (481,765) (568,779)
Total stockholders’ equity 303,132 571,553
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 338,021 615,886
Series A Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued and outstanding $ 0 $ 0