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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 40,622 $ 36,056
Accounts receivable 682 3,539
Short-term investments 174,801 243,012
Prepaid expenses and other current assets 5,146 9,302
Total current assets 221,251 291,909
Long-term investments 10,305 27,657
Property and equipment, net 59,475 64,384
Operating lease right-of-use assets 42,413 46,508
Restricted cash 10,227 10,227
Other assets 0 9
Total assets 343,671 440,694
Current liabilities:    
Accounts payable 3,504 9,365
Accrued expenses 17,571 21,348
CIRM award liability, current portion 2,280 0
Deferred revenue 5 393
Operating lease liabilities, current portion 4,751 7,416
Total current liabilities 28,111 38,522
CIRM award liability, net of current portion 6,590 5,070
Operating lease liabilities, net of current portion 74,494 77,849
Stock price appreciation milestones 410 527
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; authorized shares - 5,000,000 at September 30, 2025 and December 31, 2024; Class A Convertible Preferred shares issued and outstanding - 2,755,086 at September 30, 2025 and December 31, 2024 3 3
Common stock, $0.001 par value; authorized shares - 350,000,000 at September 30, 2025 and 250,000,000 at December 31, 2024; issued and outstanding - 115,336,697 at September 30, 2025 and 113,928,279 at December 31, 2024 115 114
Additional paid-in capital 1,735,730 1,716,335
Accumulated other comprehensive income 153 268
Accumulated deficit (1,501,935) (1,397,994)
Total stockholders’ equity 234,066 318,726
Total liabilities and stockholders’ equity $ 343,671 $ 440,694