Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 163,535 $ 23,357
Short-term investments 61,983 74,363
Restricted cash 338 338
Inventory 2,686
Other receivables 1,630 1,652
Prepaid expenses and other current assets 2,090 1,143
Total current assets 232,262 100,853
Property and equipment, net 9,489 4,430
Operating lease right-of-use assets 4,144 3,552
Other assets 338 96
Total assets 246,233 108,931
Current liabilities:    
Accounts payable 7,337 3,441
Accrued expenses 5,495 6,333
Current portion of long-term debt 5,556 5,926
Current portion of operating lease liability 537 823
Accrued taxes 15,512
Other current liabilities 80 64
Total current liabilities 34,517 16,587
Long-term operating lease liabilities 3,978 3,262
Long-term debt 14,005 13,037
Warrant liabilities 30,157 32,014
Total liabilities 82,657 64,900
Commitments and contingencies
Stockholders’ equity:    
Preferred stock - $0.01 par value; authorized 2,000,000 shares; No shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively
Common stock - $0.01 par value; authorized 200,000,000 shares; 51,248,032 and 45,644,091 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 512 457
Additional paid-in capital 879,563 856,824
Accumulated deficit (716,454) (813,258)
Accumulated other comprehensive (income) loss (45) 8
Total stockholders’ equity 163,576 44,031
Total liabilities and stockholders’ equity $ 246,233 $ 108,931