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 $ 78,437 $ 23,357
Short-term investments 112,967 74,363
Restricted cash 338
Accounts receivable, net 6,147
Inventory 5,493
Other receivables 568 1,652
Prepaid expenses and other current assets 1,294 1,143
Total current assets 204,906 100,853
Property and equipment, net 9,921 4,430
Operating lease right-of-use assets 3,962 3,552
Other assets 781 96
Total assets 219,570 108,931
Current liabilities:    
Accounts payable 7,889 3,441
Accrued expenses 8,467 6,333
Current portion of long-term debt 12,222 5,926
Current portion of operating lease liability 864 823
Accrued taxes 126
Other current liabilities 2 64
Total current liabilities 29,570 16,587
Long-term operating lease liabilities 4,069 3,262
Long-term debt 7,813 13,037
Warrant liabilities 18,902 32,014
Total liabilities 60,354 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 December 31, 2025 and 2024, respectively
Common stock - $0.01 par value; authorized 200,000,000 shares; 55,043,413 and 45,644,091 shares issued and outstanding as of December 31, 2025 and 2024, respectively 550 457
Additional paid-in capital 900,603 856,824
Accumulated deficit (742,075) (813,258)
Accumulated other comprehensive loss 138 8
Total stockholders’ equity 159,216 44,031
Total liabilities and stockholders’ equity $ 219,570 $ 108,931