XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (67,846) $ (54,054)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,389 1,968
Amortization of Debt Issuance Costs 1,362 16
Non-cash interest expense 100 100
Non-cash lease expense 1,270 856
Non-cash expense (income) from collaborative arrangements, net (2,462) (2,157)
Stock-based compensation expense 7,707 7,427
Other 1,039 37
Changes in assets and liabilities:    
Prepaid expenses and other current assets (2,607) 361
Accounts payable and accrued expenses 3,311 4,137
Lease obligations (1,227) (833)
Net cash used in operating activities (56,964) (42,142)
Cash flows from investing activities    
Purchases of property and equipment (185) (3,385)
Payment of security deposits (126) 0
Net cash (used in) provided by investing activities (311) (3,385)
Cash flows from financing activities    
Proceeds from issuance of common stock 19,854 38,556
Payment of equity issuance costs (1,526) (2,889)
Proceeds from issuance of debt 0 30,000
Payments of debt issuance costs 0 (809)
Payment of EB-5 loan (1,000) 0
Net cash provided by financing activities 17,328 64,858
Effect of changes in exchange rate on cash and restricted cash 13 28
Net (decrease) increase in cash and restricted cash (39,934) 19,359
Cash and restricted cash at beginning of period 58,821 39,462
Cash and restricted cash at end of period 18,887 58,821
Supplemental disclosure of non-cash investing and financing transactions:    
Right-of-use assets related to operating leases 1,308 103
Series B Convertible Preferred Stock reacquisition 0 (1)
Issuance of common stock for Avenue Capital agreement $ 0 $ 1,000