v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 63,567 $ 83,602
Accounts receivable 0 358
German research and development tax credit receivable 2,216 1,978
Prepaid expenses and other current assets 1,154 2,296
Total current assets 66,937 88,234
Total assets 66,937 88,234
Current liabilities:    
Accounts payable 3,481 4,586
Derivative liabilities - contingent value right agreement 2,216 1,978
Accrued expenses and other current liabilities 4,615 5,474
Total current liabilities 10,312 12,038
Royalty agreement liability 16,021 11,942
Derivative liabilities - royalty agreement 1,922 1,647
Total liabilities 28,255 25,627
Commitments and Contingencies
Stockholders' deficit:    
Preferred stock, $0.001; 10,000,000 shares authorized; 15,617 shares issued and outstanding at September 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 200,000,000 shares authorized; 11,088,329 and 11,012,105 shares issued and outstanding at September 30, 2025 and December 31, 2024 11 11
Additional paid-in capital 161,303 156,328
Accumulated other comprehensive (loss) income 104 3
Accumulated deficit (122,736) (93,735)
Total stockholders' equity 38,682 62,607
Total liabilities and stockholders' equity $ 66,937 $ 88,234