CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents		$ 15,116	$ 44,252	[1]
Short-term investments		230,636	210,974	[1]
Other current assets (including $429 and $0 as of December 31, 2025 and 2024, respectively, from a related party)		20,514	6,066	[1]
Total current assets		266,266	261,292	[1]
Long-term investments		0	13,869	[1]
Property, plant and equipment, net		2,060	3,411	[1]
Operating lease right-of-use assets		2,941	8,413	[1]
Equity method investment in Gannet BioChem		3,491	12,218	[1]
Other assets		5,648	4,647	[1]
Total assets		280,406	303,850	[1]
Current liabilities:
Accounts payable (including $137 and $0 as of December 31, 2025 and 2024, respectively, to a related party)		10,770	11,560	[1]
Accrued expenses (including $994 and $3,403 as of December 31, 2025 and 2024, respectively, to a related party)		22,271	29,972	[1]
Operating lease liabilities, current portion		20,495	19,868	[1]
Total current liabilities		53,536	61,400	[1]
Operating lease liabilities, less current portion		65,256	82,696	[1]
Liabilities related to the sales of future royalties, net		63,157	91,776	[1]
Other long-term liabilities		8,625	7,241	[1]
Total liabilities		190,574	243,113	[1]
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares designated or outstanding at December 31, 2025 or 2024, respectively		0	0	[1]
Common stock, $0.0001 par value; 390,000,000 shares and 300,000,000 shares authorized at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,937,308 shares issued at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,385,001 shares outstanding at December 31, 2025 and December 31, 2024, respectively		2	1	[1]
Capital in excess of par value		3,850,099	3,659,885	[1]
Treasury stock, at cost; 0 shares and 552,307 shares as of December 31, 2025 and 2024, respectively	[1]		(3,000)
Accumulated other comprehensive income (loss)		17	61	[1]
Accumulated deficit		(3,760,286)	(3,596,210)	[1]
Total stockholders’ equity		89,832	60,737	[1]
Total liabilities and stockholders’ equity		$ 280,406	$ 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 8).