v3.25.1
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 106,229 $ 190,304
Marketable securities 142,743 126,591
Accounts receivable 13,562 8,616
Prepaid expenses and other current assets 24,875 17,799
Total current assets 287,409 343,310
Property and equipment, net 16,798 18,190
Operating lease right-of-use assets 16,280 17,677
Other non-current assets 85 7,172
Restricted cash 858 858
Total assets 321,430 387,207
Current liabilities:    
Accounts payable 8,180 10,475
Accrued compensation 11,554 12,905
Deferred revenue - current 68,976 69,783
Operating lease liability - current 7,765 7,480
Accrued expenses and other current liabilities 36,571 31,250
Total current liabilities 133,046 131,893
Deferred revenue - non-current 8,568 12,536
Operating lease liability - non-current 13,632 15,674
Deferred royalty obligation related to the sale of future royalties 190,301 180,809
Other non-current liabilities 1,694 1,694
Total liabilities 347,241 342,606
Commitments and contingencies (Note 6)
Stockholders' (deficit) equity :    
Preferred stock, $0.001 par value - 10,000,000 shares authorized as of March 31, 2025 and December 31, 2024; no shares issued and outstanding as of March 31, 2025 and December 31, 2024
Common stock, $0.001 par value - 300,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 84,349,041 and 82,526,430 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 84 83
Additional paid-in-capital 836,951 831,348
Accumulated other comprehensive (loss) income (9) 39
Accumulated deficit (862,837) (786,869)
Total stockholders' (deficit) equity (25,811) 44,601
Total Liabilities and Stockholders' (Deficit) Equity $ 321,430 $ 387,207

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