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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 40,102 $ 4,576
Marketable securities 196,612 52,174
Accounts receivable $ 43 $ 37
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Prepaid and other current assets $ 3,189 $ 1,427
Total current assets 239,946 58,214
Property and equipment, net 282 220
Operating lease right-of-use asset 751 839
Investment in Angel Pharmaceuticals 10,496 10,991
Other assets 1,720 855
Total assets 253,195 71,119
Current liabilities:    
Accounts payable 4,697 2,491
Operating lease liability 428 403
Accrued and other liabilities 6,985 6,486
Total current liabilities 12,110 9,380
Operating lease liability 406 534
Total liabilities 12,516 9,914
Commitments and contingencies (Note 15)
Stockholders' equity:    
Preferred stock: $0.0001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; 0 shares issued and outstanding at each of March 31, 2026 and December 31, 2025
Common stock: $0.0001 par value; 290,000,000 shares authorized at March 31, 2026 and December 31, 2025; 84,090,424 and 74,696,629 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 8 7
Additional paid-in capital 667,782 474,387
Accumulated other comprehensive loss (1,126) (896)
Accumulated deficit (425,985) (412,293)
Total stockholders' equity 240,679 61,205
Total liabilities and stockholders' equity $ 253,195 $ 71,119