Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 47,998 $ 72,904
Prepaid expenses and other current assets 1,383 1,602
Total Current Assets 49,381 74,506
Property and equipment, net of accumulated depreciation of $1,064 and $891 295 364
Restricted cash – long term 335 324
Operating lease right-of-use assets 1,754 1,685
Finance leases right-of-use assets 10 20
Total Assets 51,775 76,899
Current Liabilities:    
Accounts payable and accrued expenses 7,247 7,568
Operating leases current liability 711 569
Finance leases current liability 11 11
Total Current Liabilities 7,969 8,148
Long-term license revenue deferred 35,000 35,000
Long-term operating lease obligations 972 984
Long-term finance lease obligations 9
Total Liabilities 43,941 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 shares issued and outstanding at December 31, 2025 and 2024, respectively 31 31
Additional paid-in capital 417,536 408,553
Accumulated other comprehensive loss (20)
Accumulated deficit (409,713) (375,826)
Total Stockholders’ Equity 7,834 32,758
Total Liabilities and Stockholders’ Equity $ 51,775 $ 76,899