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Balance Sheet Components (Tables)
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):

 

 

 

March 31, 2025

 

 

December 31, 2024

 

Cash

 

$

1,730

 

 

$

2,004

 

Commercial paper

 

 

17,328

 

 

 

14,269

 

Money market funds

 

 

8,063

 

 

 

28,241

 

U.S. government bonds

 

 

6,488

 

 

 

5,968

 

Total cash and cash equivalents

 

$

33,609

 

 

$

50,482

 

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):

 

 

 

March 31, 2025

 

 

December 31, 2024

 

Insurance proceeds receivable for litigation settlement

 

$

 

 

$

28,500

 

Prepaid assets

 

 

2,069

 

 

 

1,903

 

Other current assets

 

 

1,257

 

 

 

1,139

 

Total prepaid expenses and other current assets

 

$

3,326

 

 

$

31,542

 

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Preclinical and clinical trial accruals

 

$

6,151

 

 

$

6,327

 

API and bulk drug product price true-up

 

 

13,331

 

 

 

13,071

 

Litigation settlement

 

 

 

 

 

28,500

 

Payroll and related accruals

 

 

4,362

 

 

 

4,640

 

Accrued restructuring charge

 

 

2,583

 

 

 

4,572

 

Professional services

 

 

4,626

 

 

 

2,049

 

Current portion of liability related to sale of future revenues

 

 

1,858

 

 

 

460

 

Other

 

 

2,413

 

 

 

2,416

 

Total accrued and other current liabilities

 

$

35,324

 

 

$

62,035