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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 28,698 $ 25,229
Short-term investments 13,240 26,494
Accounts receivable 1,500 5,761
Unbilled receivable from government contracts 14,622 6,208
Prepaid expenses and other current assets 4,585 4,568
Total current assets 62,645 68,260
Property and equipment, net 7,821 8,705
Prepaid clinical services, long-term 60,116 60,116
Right-of-use assets, net 19,255 20,404
Intangible assets, net 3,375 3,557
Goodwill 4,508 4,508
Other long-term assets 839 839
Total assets 158,559 166,389
Current liabilities:    
Accounts payable 16,617 6,963
Other accrued current liabilities 9,955 11,378
Current portion of operating lease liability 3,257 3,077
Current portion of liability related to sale of future royalties 3,322 4,060
Total current liabilities 98,504 90,878
Operating lease liability, net of current portion 13,570 14,449
Liability related to sale of future royalties, net of current portion 412 1,698
Other long-term liabilities 455 439
Total liabilities 112,941 107,464
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of March 31, 2025 and December 31, 2024 0 0
Common stock: $0.0001 par value; 350,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 228,925,729 shares issued and 228,222,953 shares outstanding as of March 31, 2025 and 228,203,822 shares issued and 227,774,275 shares outstanding as of December 31, 2024 23 23
Additional paid-in capital 538,232 535,770
Treasury stock at cost, 702,776 shares as of March 31, 2025 and 429,547 shares as of December 31, 2024 (517) (350)
Accumulated deficit (492,113) (476,522)
Accumulated other comprehensive income (loss) (7) 4
Total stockholders’ equity 45,618 58,925
Total liabilities and stockholders’ equity 158,559 166,389
Government Contract [Member]    
Current liabilities:    
Deferred government revenue $ 65,353 $ 65,400