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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 60,181 $ 105,597
Marketable securities 187,039 264,930
Prepaid expenses and other current assets 13,719 9,067
Total current assets 260,939 379,594
Restricted cash 1,585 1,690
Marketable securities, non-current 0 13,014
Other investments 19,000 19,000
Property and equipment, net 34,771 48,200
Operating lease right-of-use assets 18,871 24,739
Other non-current assets 4,886 4,622
Total assets 340,052 490,859
Current liabilities:    
Accounts payable 2,893 5,366
Accrued liabilities and other current liabilities 46,519 40,822
Contingent consideration payable 0 7,600
Total current liabilities 49,412 53,788
Operating lease liabilities, non-current 41,921 50,994
Other non-current liabilities 517 3,253
Total liabilities 91,850 108,035
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000 shares authorized at December 31, 2025 and 2024, respectively; no shares issued and outstanding at December 31, 2025 and 2024 0 0
Common stock, $0.0001 par value; 500,000 shares authorized at December 31, 2025 and 2024, respectively; 21,251 and 14,744 shares issued and outstanding at December 31, 2025 and 2024, respectively [1] 2 1
Additional paid-in capital [1] 1,867,512 1,727,638
Accumulated other comprehensive income 242 291
Accumulated deficit (1,619,554) (1,345,106)
Total stockholders’ equity 248,202 382,824 [2]
Total liabilities and stockholders’ equity $ 340,052 $ 490,859
[1]
1. Amounts previously reported have been retroactively adjusted to reflect the 1-for-20 reverse stock split effected on May 30, 2025. See Note 2.
[2]
1. Amounts previously reported have been retroactively adjusted to reflect the 1-for-20 reverse stock split effected on May 30, 2025. See Note 2