v3.25.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 37,931 $ 28,670
Short-term investments 124,666 18,567
Accounts receivable, net 0 5,903
Inventory 0 5,311
Prepaid expenses and other current assets 2,439 2,836
Total current assets 165,036 61,287
Property and equipment, net 4 6,846
Operating lease right-of-use assets 0 787
Other assets 1,977 1,399
Total assets 167,017 70,319
Current liabilities:    
Accounts payable 1,633 2,159
Accrued liabilities 8,216 14,647
Operating lease liabilities, current portion 0 268
Total current liabilities 9,849 17,074
Operating lease liabilities, net of current portion 0 565
Other liabilities 0 202
Total liabilities 9,849 17,841
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value; 300,000,000 shares authorized; 47,128,362 and 24,680,708 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 4 2
Additional paid-in capital 487,024 385,114
Accumulated other comprehensive income 139 16
Accumulated deficit (329,999) (332,654)
Total stockholders’ equity 157,168 52,478
Total liabilities and stockholders’ equity $ 167,017 $ 70,319