v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 190,055 $ 98,776
Accounts receivable, net 3,481 3,683
Inventory 5,729 8,408
Prepaid expenses and other current assets 8,806 8,135
Total current assets 208,071 119,002
Property and equipment, net 42,574 42,252
Intangible assets, net 120 120
Operating lease right-to-use assets 376 565
Other non-current assets 1,299 951
Total assets 252,440 162,890
Current liabilities:    
Accounts payable 8,540 4,546
Accrued expenses and other current liabilities 12,332 10,667
Term loan payable, short term 2,820
Lease liability, short term 159 274
Total current liabilities 21,031 18,307
Term loan payable, long term 4,667
Lease liability, long term 266 358
Total liabilities 21,297 23,332
Commitments (See Note 17)  
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares designated as of both September 30, 2025, and December 31, 2024; 0 shares issued and outstanding as of both September 30, 2025 and December 31, 2024
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 10,168,204 and 4,385,929 shares issued and outstanding as of September 30, 2025, and December 31, 2024, respectively 10 4
Additional paid in capital 1,039,212 870,503
Accumulated deficit (807,805) (730,694)
Accumulated other comprehensive loss (274) (255)
Total stockholders’ equity 231,143 139,558
Total liabilities and stockholders’ equity $ 252,440 $ 162,890

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