v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 60,206 $ 163,962
Short-term investments 99,725 0
Prepaid expenses and other current assets 4,630 2,713
Total current assets 164,561 166,675
Property and equipment, net 2,063 2,743
Finance lease right-of-use assets 15,931 7,020
Operating lease right-of-use assets 3,597 6,315
Other assets 3,607 2,293
Total Assets 189,759 185,046
Current liabilities:    
Accounts payable 8,267 4,923
Accrued and other current liabilities 16,246 12,188
Finance lease liabilities, current portion 17,596 5,989
Operating lease liabilities, current portion 3,626 3,986
Total current liabilities 45,735 27,086
Finance lease liabilities, net of current portion 4,558 3,241
Operating lease liabilities, net of current portion 0 2,384
Total Liabilities 50,293 32,711
Commitments and contingencies (see Notes 5 and 6)
Stockholders’ equity:    
Preferred stock, $0.00001 par value: 10,000,000 shares authorized as of September 30, 2025 and December 31, 2024; no shares issued or outstanding at September 30, 2025 and December 31, 2024 0 0
Voting and non-voting common stock, $0.00001 par value: 300,000,000 (293,590,481 voting and 6,409,519 non-voting) shares authorized as of September 30, 2025 and 150,000,000 (143,590,481 voting and 6,409,519 non-voting) shares authorized as of December 31, 2024; 96,265,204 voting shares issued and outstanding as of September 30, 2025 and 50,743,101 voting shares issued and outstanding as of December 31, 2024 1 1
Additional paid-in capital 614,480 501,435
Accumulated other comprehensive income 23 0
Accumulated deficit (475,038) (349,101)
Total stockholders’ equity 139,466 152,335
Total liabilities and stockholders’ equity $ 189,759 $ 185,046

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