Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 59,928 $ 72,904
Prepaid expenses and other current assets 1,101 1,602
Total Current Assets 61,029 74,506
Property and equipment, net of accumulated depreciation of $985 and $891 271 364
Restricted cash – long term 329 324
Operating leases right-of-use assets 1,373 1,685
Finance leases right-of-use assets 15 20
Total Assets 63,017 76,899
Current Liabilities:    
Accounts payable and accrued expenses 7,714 7,568
Operating leases current liability 589 569
Finance leases current liability 11 11
Total Current Liabilities 8,314 8,148
Long-term license revenue deferred 35,000 35,000
Long-term operating lease obligations 685 984
Long-term finance lease obligations 5 9
Total Liabilities 44,004 44,141
Commitments and contingencies
Stockholders’ Equity:    
Preferred stock, $0.001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 31,195,891 and 31,195,891 shares issued and outstanding, respectively 31 31
Additional paid-in capital 417,624 408,553
Accumulated deficit (398,642) (375,826)
Total Stockholders’ Equity 19,013 32,758
Total Liabilities and Stockholders’ Equity $ 63,017 $ 76,899