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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (108,995) $ (89,298)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,145 1,245
Stock-based compensation 13,298 13,103
Research and development license expense 3,000  
Change in fair value of warrant liability 1,199 (16)
Non-cash change in fair value of term loan 832 (597)
Debt issuance costs expensed under the fair value option 147  
Impairment of long-lived assets 0 4,838
Non-cash lease expense 1,359 1,217
Other 296 750
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,734) 207
Accounts payable (153) (2,920)
Accrued expenses and other liabilities 6,289 (1,421)
Deferred revenue (9,773) (8,333)
Net cash used in operating activities (93,090) (81,225)
Cash flows from investing activities    
Purchase of property, plant and equipment (738) (374)
Other 134 11
Net cash used in investing activities (604) (363)
Cash flows from financing activities    
Proceeds from issuance of common stock and pre-funded warrants from underwritten public offering, net of underwriting discounts and sales commissions and other offering costs 215,646 76,780
Proceeds from issuance of common stock pursuant to at-the-market offering, net of sales commissions and other offering costs 48,435  
Prepayment of 2023 Trinity term loan (40,612)  
Proceeds from 2025 Trinity term loan, net 49,853  
Proceeds from issuance of common stock upon exercise of warrants 225  
Debt issuance costs for term loan   (18)
Proceeds from common stock issuances under ESPP 159 89
Proceeds from stock option exercises 1,220  
Other (337) (167)
Net cash provided by financing activities 274,589 76,684
Net increase (decrease) in cash, cash equivalents and restricted cash 180,895 (4,904)
Cash, cash equivalents and restricted cash at the beginning of the period 141,636 146,540
Cash, cash equivalents and restricted cash at the end of the period 322,531 141,636
Cash and cash equivalents 319,767 139,036
Restricted cash 2,764 2,600
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,399 5,282
Supplemental disclosure of noncash investing and financing activities:    
Proceeds allocated to Success Fee liability 217  
Right-of-use assets obtained in exchange for lease liabilities 2,374  
Purchase of research and development license not yet paid 3,000  
Non-cash impact of exercise of liability classified warrants 1,637  
Property, plant and equipment in accounts payable and accrued expenses $ 41 346
Offering costs not yet paid   $ 46