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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (103,121,000) $ (79,279,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign currency adjustments 250,000 (65,000)
Depreciation expense and amortization 3,251,000 2,306,000
Loss on disposal of property and equipment 0 27,000
Net accretion of discounts on available-for-sale securities (2,723,000) (607,000)
Loss on divestiture 0 59,000
Goodwill impairment 0 24,062,000
In-process research and development impairment 10,000,000 0
Share-based compensation 8,966,000 5,387,000
Deferred income tax benefit (793,000) (2,097,000)
Other, net 5,000 99,000
Changes in operating assets and liabilities:    
Accounts receivable 110,000 1,049,000
Inventory related to discontinued operations (Note 4) 0 11,000
Interest receivable (142,000) (880,000)
Prepaid expenses and other current assets 624,000 (1,911,000)
Accounts payable and accrued expenses 147,000 1,890,000
Deferred Income [1] (1,400,000) 28,000,000
Accrued personnel expenses 2,011,000 3,600,000
Other noncurrent liabilities 331,000 55,000
Net cash used in operating activities (82,484,000) (18,294,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property and equipment (12,749,000) (54,414,000)
Proceeds from the sale of property and equipment 0 335,000
Additions to other assets (135,000) (72,000)
Maturities of available-for-sale securities 173,950,000 0
Purchases of available-for-sale securities (119,838,000) (164,780,000)
Proceeds from maturity of held-to-maturity investments 0 78,730,000
Purchases of held-to-maturity investments 0 (78,730,000)
Net cash provided by (used in) investing activities 41,228,000 (218,931,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of notes payable (52,000) (48,000)
Proceeds from sales of common stock, pursuant to exercise of warrants, net 0 125,000
Proceeds from sales of common stock, pursuant to exercise of options 371,000 1,253,000
Proceeds from the sales of common stock and Pre-funded Warrants, net [1] 0 288,055,000
Proceeds from the issuance of common stock pursuant to the ATM, net [1] 9,986,000 0
Net cash provided by financing activities 10,305,000 289,385,000
Net (decrease) increase in cash and cash equivalents (30,951,000) 52,160,000
Cash and cash equivalents at beginning of period 61,580,000 9,420,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 30,629,000 61,580,000
Supplemental schedule of noncash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses 9,771,000 0
Recognition of operating lease liability and right-of-use asset $ 205,000 $ 2,115,000
[1] See Note 3, Investments and Agreements, for additional information.