Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 82,884 $ 23,357
Short-term investments 124,233 74,363
Restricted cash 338 338
Inventory 4,850
Other receivables 1,616 1,652
Prepaid expenses and other current assets 2,209 1,143
Total current assets 216,130 100,853
Property and equipment, net 10,338 4,430
Operating lease right-of-use assets 4,086 3,552
Other assets 541 96
Total assets 231,095 108,931
Current liabilities:    
Accounts payable 5,927 3,441
Accrued expenses 6,888 6,333
Current portion of long-term debt 8,889 5,926
Current portion of operating lease liability 102 823
Accrued taxes 339
Other current liabilities 35 64
Total current liabilities 22,180 16,587
Long-term operating lease liabilities 4,254 3,262
Long-term debt 10,862 13,037
Warrant liabilities 22,566 32,014
Total liabilities 59,862 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 September 30, 2025 and December 31, 2024, respectively
Common stock - $0.01 par value; authorized 200,000,000 shares; 52,400,415 and 45,644,091 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 524 457
Additional paid-in capital 892,314 856,824
Accumulated deficit (721,615) (813,258)
Accumulated other comprehensive income 10 8
Total stockholders’ equity 171,233 44,031
Total liabilities and stockholders’ equity $ 231,095 $ 108,931