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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 116,700,000 $ 123,266,000
Short-term marketable securities 66,631,000 0
Accounts receivable 656,000 87,000
Inventory 0 310,000
Prepaid expenses 2,059,000 1,397,000
Other receivables 484,000 192,000
Total current assets 186,530,000 125,252,000
Property and equipment, net 18,593,000 11,963,000
Operating lease right-of-use assets 2,416,000 1,808,000
Intangible assets, net 1,429,000 0
Goodwill 4,588,000 0
Other non-current assets 759,000 578,000
Total assets 214,315,000 139,601,000
Current liabilities:    
Accounts payable 2,531,000 4,902,000
Accrued liabilities 1,993,000 655,000
Deferred revenue 10,000 20,000
Operating lease liabilities, current 1,155,000 666,000
Financing lease liabilities, current 0 564,000
Total current liabilities 5,689,000 6,807,000
Operating lease liabilities, non-current 1,420,000 1,113,000
Total liabilities 7,109,000 7,920,000
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of both June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value; 300,000,000 shares authorized, 59,441,060 and 51,396,574 shares issued and 59,333,332 and 51,288,566 shares outstanding as of June 30, 2025 and December 31, 2024, each respectively. 6,000 5,000
Additional paid-in capital 348,494,000 239,201,000
Accumulated other comprehensive income 298,000 0
Accumulated deficit (141,592,000) (107,525,000)
Total stockholders’ equity 207,206,000 131,681,000
Total liabilities and stockholders’ equity $ 214,315,000 $ 139,601,000