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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 76,962 $ 65,802
Marketable securities 129,553 190,222
Prepaid expenses and other current assets 8,569 10,428
Total current assets 215,084 266,452
Property and equipment, net 9,934 10,841
Operating lease right-of-use assets 12,683 13,712
Restricted cash 1,846 1,846
Other assets 369 386
Total assets 239,916 293,237
Current liabilities:    
Accounts payable 1,423 1,691
Accrued clinical supply costs 1,044 3,669
Accrued liabilities 10,931 19,299
Deferred revenue, current portion 6,723 6,684
Payable to collaboration partner 10,229 17,289
Refund liability to collaboration partner, current portion 0 11,449
Operating lease liabilities, current portion 9,135 9,056
Short-term debt 1,480 366
Total current liabilities 40,965 69,503
Deferred revenue, long-term portion 162,866 164,537
Long-term debt 8,287 9,323
Operating lease liabilities, long-term portion 15,646 17,488
Other long-term liabilities 1,770 1,737
Total liabilities 229,534 262,588
Commitments and contingencies (Note 4)
Stockholders' equity:    
Common stock, $0.0001 par value; 200,000,000 shares authorized; 111,025,187 and 110,362,581 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 11 11
Additional paid-in capital 1,005,461 1,002,528
Accumulated other comprehensive income (loss) (104) 166
Accumulated deficit (994,986) (972,056)
Total stockholders' equity 10,382 30,649
Total liabilities and stockholders’ equity $ 239,916 $ 293,237