Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 42,132 $ 47,998
Prepaid expenses and other current assets 1,129 1,383
Total Current Assets 43,261 49,381
Property and equipment, net of accumulated depreciation of $1,094 and $1,064 268 295
Restricted cash – long term 337 335
Operating leases right-of-use assets, net 1,565 1,754
Finance leases right-of-use assets, net 7 10
Total Assets 45,438 51,775
Current Liabilities:    
Accounts payable and accrued expenses 6,615 7,247
Operating leases current liability 726 711
Finance leases current liability 8 11
Total Current Liabilities 7,349 7,969
Long-term license revenue deferred 35,000 35,000
Long-term operating lease obligations 785 972
Total Liabilities 43,134 43,941
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; 31,374,991 and 31,195,891 shares issued and outstanding, at March 31, 2026 and December 31, 2025, respectively 31 31
Additional paid-in capital 417,547 417,536
Accumulated other comprehensive loss (39) (20)
Accumulated deficit (415,235) (409,713)
Total Stockholders’ Equity 2,304 7,834
Total Liabilities and Stockholders’ Equity $ 45,438 $ 51,775