v3.25.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 6,801 $ 20,020
Accounts receivable 266 507
Prepaid expenses 1,187 734
Other current assets 0 13
Total current assets 8,254 21,274
Property and equipment, net 2,981 3,225
Operating lease right-of-use asset 376 597
Other assets 30 30
Total assets 11,641 25,126
Current liabilities:    
Accounts payable (includes $491 to a related party as of December 31, 2024) 796 1,452
Accrued liabilities (includes $304 to a related party as of December 31, 2024) 1,590 2,967
Current portion of operating lease liabilities 384 375
Total current liabilities 2,770 4,794
Liability related to the sales of future royalties, net 61,167 51,767
Warrant liabilities 1,192 6,692
Operating lease liabilities 62 328
Other non-current liabilities 400 400
Total liabilities 65,591 63,981
Commitments and contingencies
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized and no shares issued at September 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 26,666,666 and 13,333,333 shares authorized at September 30, 2025 and December 31, 2024, respectively; 5,233,981 and 5,105,216 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively [1] 78 77
Additional paid-in capital 319,937 316,343
Accumulated deficit (373,965) (355,275)
Total stockholders` deficit (53,950) (38,855)
Total liabilities and stockholders` deficit $ 11,641 $ 25,126
[1] Results, including shares issued and outstanding have been adjusted to reflect the one-for-fifteen reverse stock split effected in September 2025. See Note 1, The Company, for details