| Balance Sheet Components |
Balance Sheet Components Prepaid expenses and other current assets consist of the following (amounts in thousands): | | | | | | | | | | | | | | | | September 30,
2025 | | | December 31,
2024 | | Research and development expenses | $ | 5,230 | | | | $ | 6,314 | | Interest receivable | 1,932 | | | | 287 | | Value added tax receivable | 1,160 | | | | 1,528 | | | Insurance related expenses | 1,259 | | | | 840 | | | Other | 2,759 | | | | 1,495 | | | $ | 12,340 | | | | $ | 10,464 | |
Accrued expenses and other current liabilities consist of the following (amounts in thousands): | | | | | | | | | | | | | | | | September 30,
2025 | | | December 31,
2024 | Research and development expenses* | $ | 11,235 | | | | $ | 38,063 | | | Personnel related expenses | 5,949 | | | | 9,465 | | | Professional fees | 1,356 | | | | 1,782 | | Interest payable | 850 | | | | — | | Operating lease | 684 | | | | 602 | | Income tax liability | 55 | | | | 835 | | | Other | 310 | | | | 108 | | | $ | 20,439 | | | | $ | 50,855 | | ∗Includes accrued contract termination costs of $30.3 million as of December 31, 2024 which was fully extinguished as of September 30, 2025. See Note 8. |
Property and equipment, net consisted of the following (amounts in thousands): | | | | | | | | | | | | | September 30,
2025 | | December 31,
2024 | | Computer equipment | $ | 1,139 | | | $ | 768 | | | Office furniture | 724 | | | 724 | | Other | 43 | | | 43 | | | Property and equipment, at cost | 1,906 | | | 1,535 | | | Less: Accumulated depreciation | (1,012) | | | (791) | | | Property and equipment, net | $ | 894 | | | $ | 744 | |
The following table provides a reconciliation of changes, net of applicable income taxes, in other accumulated comprehensive income (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended
September 30, 2025 | | Nine Months Ended
September 30, 2024 | Foreign currency translation adjustment: | | | | | | | | | Beginning balance | | | | | $ | 1,426 | | | $ | 203 | | Foreign currency translation adjustment during period | | | | | 855 | | | (498) | | Ending balance | | | | | $ | 2,281 | | | $ | (295) | | | | | | | | | | Unrealized gain on available for sale securities: | | | | | | | | | Beginning balance | | | | | $ | 2,787 | | | $ | 1,290 | | Unrealized holding gain on available for sale securities during period, net of tax of $0.1 million in 2025 and $0.7 million in 2024 | | | | | 319 | | | 2,390 | | Reclassification adjustment for realized net gain on available for sale marketable securities included in net loss, net of tax of $0.8 million in 2025 and $0.4 million in 2024 | | | | | (2,787) | | | (1,290) | | Ending balance | | | | | $ | 319 | | | $ | 2,390 | |
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