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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 98,804 $ 105,597
Marketable securities 177,986 264,930
Prepaid expenses and other current assets 5,424 9,067
Total current assets 282,214 379,594
Restricted cash 1,584 1,690
Marketable securities, non-current 20,059 13,014
Other investments 19,000 19,000
Property and equipment, net 39,115 48,200
Operating lease right-of-use assets 20,951 24,739
Other non-current assets 2,530 4,622
Total assets 385,453 490,859
Current liabilities:    
Accounts payable 3,379 5,366
Accrued liabilities and other current liabilities 27,999 40,822
Contingent consideration payable 5,525 7,600
Total current liabilities 36,903 53,788
Operating lease liabilities, non-current 46,597 50,994
Other non-current liabilities 3,030 3,253
Total liabilities 86,530 108,035
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value; 500,000 shares authorized at June 30, 2025 and December 31, 2024; 14,831 and 14,744 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively1 [1] 1 1
Additional paid-in capital1 [1] 1,738,850 1,727,638
Accumulated other comprehensive income 57 291
Accumulated deficit (1,439,985) (1,345,106)
Total stockholders’ equity 298,923 382,824 [2]
Total liabilities and stockholders’ equity $ 385,453 $ 490,859
[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] Amounts previously reported for common stock and additional paid-in-capital have been adjusted to reflect the 1-for-20 reverse stock split effected on May 30, 2025. See Note 2.