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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 58,849 $ 30,793
Accounts receivable due from SPN - related party 2,761 2,068
Prepaid expenses and other current assets [1] 4,468 5,813
Total current assets 66,078 38,674
Property and equipment, net 10,547 11,534
Operating lease assets 78,858 80,903
Restricted cash 8,668 8,668
Other non-current assets 31 31
Total assets 164,182 139,810
Current liabilities:    
Accounts payable 2,168 4,079
Accrued expenses and other current liabilities 6,220 10,719
Accrued liabilities due to SPN - related party 13,886 17,750
Operating lease liabilities 9,049 8,674
Total current liabilities 31,323 41,222
Operating lease liabilities, net of current portion 80,499 82,966
Other long-term liabilities 1,895 1,838
Total liabilities 113,717 126,026
Commitments and contingencies (Note 9)
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 360,000,000 shares authorized at March 31, 2025 and December 31, 2024; 8,732,187 and 8,650,227 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 9 9
Additional paid-in capital 995,873 991,874
Accumulated other comprehensive loss   0
Accumulated deficit (945,417) (978,099)
Total stockholders' equity 50,465 13,784
Total liabilities and stockholders' equity $ 164,182 $ 139,810
[1] Includes $1,622 as of March 31, 2025 and $2,683 as of December 31, 2024 of unbilled receivable from SPN (related party) related to certain costs of the transition services performed by the Company. See Note 3, Discontinued Operations and TSA, for further details.