CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 48,297	$ 77,965
Prepaid expenses and other current assets	6,753	3,912
Total current assets	55,050	81,877
Equity investment	0	2,600
Property and equipment, net	979	1,370
Right-of-use asset, operating leases	5,100	5,722
Restricted cash and restricted cash equivalents	647	647
Other noncurrent assets	0	116
Total assets	61,776	92,332
Current liabilities:
Accounts payable	879	2,989
Accrued expenses and other current liabilities	4,232	7,479
CVR liability	0	2,900
Venture debt, current portion	6,235	3,097
Total current liabilities	11,346	16,465
Lease liability, net of current portion	4,943	5,636
Venture debt, net of current portion	3,473	9,556
Other noncurrent liabilities	0	55,000
Total liabilities	19,762	86,657
Commitments and contingencies (Note 11)
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2025 and December 31, 2024	0	0
Common stock, $0.0001 par value; 400,000,000 shares authorized, 12,858,047 and 12,197,615 shares issued and outstanding at December 31, 2025 2024, respectively	2	2
Additional paid-in capital	247,005	240,487
Accumulated deficit	(204,993)	(234,814)
Total stockholders' equity (deficit)	42,014	5,675
Total liabilities and stockholders' equity (deficit)	$ 61,776	$ 92,332