v3.25.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Operating activities      
Net loss $ (18,690) $ (27,046)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash interest expense on liability related to the sales of future royalties, net of issuance costs accretion 8,005 7,200 $ 9,779
Depreciation 253 147  
Share-based compensation expense 2,161 3,347  
Change in fair value of warrant liabilities (5,500) (1,570)  
Issuance costs allocated to warrant liabilities 0 787  
Amortization and accretion of available-for-sale investments, net 0 (286)  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (199) (319)  
Other assets and liabilities (36) (506)  
Accounts payable and accrued liabilities (includes $223 to a related party for the nine months ended September 30, 2024) (2,033) (1,123)  
Deferred revenue 0 (75)  
Net cash used in operating activities (16,039) (19,444)  
Investing activities      
Acquisition of property and equipment (9) (533)  
Purchase of short-term investments 0 (16,912)  
Maturity of short-term investments 0 7,500  
Net cash used in investing activities (9) (9,945)  
Financing activities      
Proceeds from issuance of common stock and warrants under registered direct offering, net of issuance costs 0 13,860  
Proceeds from at-the-market sales agreement, net of issuance costs 1,411 450  
Proceeds From Royalty Purchase And Sale Agreement, Net of Issuance Cost 2,895 0  
Payments on royalty purchase and sale agreement (1,500) 0  
Proceeds from exercise of stock options 0 12  
Proceeds from shares issued under employee stock purchase plan 23 35  
Net cash provided by financing activities 2,829 14,357  
Net decrease in cash and cash equivalents (13,219) (15,032)  
Cash and cash equivalents, beginning of period 20,020 28,920 28,920
Cash and cash equivalent, end of period 6,801 13,888 $ 20,020
Supplemental disclosure      
Purchase of property and equipment included in accrued liabilities $ 0 $ 31