XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 160,324 $ 212,610
Accounts receivable 354 872
Prepaid expenses and other current assets 2,717 3,144
Total current assets 163,395 216,626
Non-current assets:    
Property and equipment, net 12,285 9,912
Right-of-use asset, net 5,164 5,535
In-process research and development assets 150,600 150,600
Goodwill 48,163 48,163
Long-term restricted cash 1,735 1,669
Investments 2,000 2,000
Other assets 5,551 518
Total assets 388,893 435,023
Current liabilities:    
Accounts payable 454 288
Accrued expenses and other current liabilities 8,012 12,076
Lease liability 3,790 2,851
Contingent value right liability 0 7,761
Total current liabilities 12,256 22,976
Non-current liabilities:    
Lease liability, net of current portion 9,559 11,133
Warrant liabilities, net of current portion 1,364 3,836
Contingent value right liability, net of current portion 352,100 387,739
Deferred tax liabilities, net 16,141 16,141
Total liabilities 391,420 441,825
Commitments and contingencies (Note 17)
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Common stock, $0.0001 par value; 350,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 26,000,065 and 25,767,369 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 695,942 689,887
Accumulated deficit (693,895) (692,071)
Accumulated other comprehensive loss (4,577) (4,621)
Total stockholders’ deficit (2,527) (6,802)
Total liabilities and stockholders’ deficit 388,893 435,023
Series A Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Series B Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued $ 0 $ 0