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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 41,813 $ 32,412
Short-term investments 47,099 20,821
Accounts receivable 13,751 10,890
Inventories 10,745 6,933
Prepaid expenses and other current assets 7,207 2,704
Total current assets 120,615 73,760
Property, plant and equipment, net 2,715 1,790
Right-of-use assets 965 1,039
Total assets 124,295 76,589
Current liabilities    
Accounts payable 2,133 961
Accrued expenses 5,768 5,078
Lease liabilities, current 110 105
Total current liabilities 8,011 6,144
Lease liabilities, non-current 855 933
Other liabilities, non-current 582 766
Total liabilities 9,448 7,843
Commitments and contingencies (see Note 12)
Stockholders’ equity    
Preferred stock, $0.01 par value; 10,000,000 shares authorized; 14,192 and 14,192 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.01 par value; 80,000,000 shares authorized; 35,308,939 shares and 33,061,002 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 353 331
Additional paid-in capital 640,571 599,881
Accumulated deficit (526,952) (531,548)
Accumulated other comprehensive income 875 82
Total stockholders’ equity 114,847 68,746
Total liabilities and stockholders’ equity $ 124,295 $ 76,589