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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,616 $ 41,918
Restricted cash 912 0
Accounts receivable 523 526
Refundable research income tax credits 4,602 4,072
Prepaid expenses and other current assets 8,423 5,175
Total current assets 44,076 51,691
Property and equipment, net 14,794 17,887
Operating lease right-of-use assets 14,428 16,869
Refundable research income tax credits, non-current 14,474 12,809
Other non-current assets 871 879
Restricted cash 0 1,500
Total assets 88,643 101,635
Current liabilities:    
Accounts payable 15,556 15,485
Accrued compensation and employee benefits 17,145 14,569
Other accrued liabilities 9,868 8,195
Deferred revenues 7,556 7,556
Total current liabilities 50,125 45,805
Deferred revenues, non-current 5,874 5,874
Long-term portion of lease liabilities 25,424 26,253
Other non-current liabilities 977 933
Total liabilities 82,400 78,865
Commitments and contingencies
Stockholders’ equity:    
Preferred stock 0 0
Common stock 3,220 2,128
Additional paid-in capital 1,594,298 1,532,489
Accumulated deficit (1,589,830) (1,504,317)
Accumulated other comprehensive loss (1,445) (7,530)
Total stockholders’ equity 6,243 22,770
Total liabilities and stockholders’ equity $ 88,643 $ 101,635