CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 42,988	$ 44,252	[1]
Short-term investments	132,915	210,974	[1]
Other current assets	10,663	6,066	[1]
Total current assets	186,566	261,292	[1]
Long-term investments	0	13,869	[1]
Property and equipment, net	2,988	3,411	[1]
Operating lease right-of-use assets	7,585	8,413	[1]
Equity method investment in Gannet BioChem	5,371	12,218	[1]
Other assets	5,024	4,647	[1]
Total assets	207,534	303,850	[1]
Current liabilities:
Accounts payable	14,281	11,560	[1]
Accrued expenses	35,099	29,972	[1]
Operating lease liabilities, current portion	22,011	19,868	[1]
Total current liabilities	71,391	61,400	[1]
Operating lease liabilities, less current portion	74,145	82,696	[1]
Liabilities related to the sales of future royalties, net	80,573	91,776	[1]
Other long-term liabilities	5,636	7,241	[1]
Total liabilities	231,745	243,113	[1]
Commitments and contingencies
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares designated or outstanding at June 30, 2025 or December 31, 2024, respectively	0	0	[1]
Common stock, $0.0001 par value; 390,000,000 shares and 300,000,000 shares authorized at June 30, 2025 and December 31, 2024; 13,009,559 shares and 12,937,308 shares issued at June 30, 2025 and December 31, 2024, respectively; 12,457,252 shares and 12,385,001 shares outstanding at June 30, 2025 and December 31, 2024, respectively;	1	1	[1]
Capital in excess of par value	3,667,487	3,659,885	[1]
Treasury stock, at cost; 552,307 shares as of June 30, 2025 and December 31, 2024, respectively	(3,000)	(3,000)	[1]
Accumulated other comprehensive income (loss)	(14)	61	[1]
Accumulated deficit	(3,688,685)	(3,596,210)	[1]
Total stockholders' equity (deficit)	(24,211)	60,737	[1]
Total liabilities and stockholders' equity (deficit)	$ 207,534	$ 303,850	[1]

[1] All share and per share amounts have been retrospectively adjusted to reflect a one-for-fifteen reverse stock split (see Note 6).