Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 131,830 $ 163,962
Prepaid expenses and other current assets 2,766 2,713
Total current assets 134,596 166,675
Property and equipment, net 2,638 2,743
Finance lease right-of-use assets 20,104 7,020
Operating lease right-of-use assets 5,434 6,315
Other assets 2,369 2,293
Total Assets 165,141 185,046
Current liabilities:    
Accounts payable 6,492 4,923
Accrued and other current liabilities 8,303 12,188
Finance lease liabilities, current portion 15,208 5,989
Operating lease liabilities, current portion 3,986 3,986
Total current liabilities 33,989 27,086
Finance lease liabilities, net of current portion 8,105 3,241
Operating lease liabilities, net of current portion 1,494 2,384
Total Liabilities 43,588 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 March 31, 2025 and December 31, 2024; no shares issued or outstanding at March 31, 2025 and December 31, 2024 0 0
Voting and non-voting common stock, $0.00001 par value 150,000,000 (143,590,481 voting and 6,409,519 non-voting) shares authorized as of March 31, 2025 and December 31, 2024; 50,743,101 voting shares issued and outstanding as of March 31, 2025 and of December 31, 2024. 1 1
Additional paid-in capital 506,596 501,435
Accumulated deficit (385,044) (349,101)
Total stockholders’ equity 121,553 152,335
Total liabilities and stockholders’ equity $ 165,141 $ 185,046