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 $ 131,716 $ 98,776
Accounts receivable, net 3,312 3,683
Inventory 8,136 8,408
Prepaid expenses and other current assets 6,409 8,135
Total current assets 149,573 119,002
Property and equipment, net 41,766 42,252
Intangible assets, net 120 120
Operating lease right-to-use assets 501 565
Other non-current assets 910 951
Total assets 192,870 162,890
Current liabilities:    
Accounts payable 4,193 4,546
Accrued expenses and other current liabilities 7,718 10,667
Term loan payable, short term 2,820
Lease liability, short term 235 274
Total current liabilities 12,146 18,307
Term loan payable, long term 4,667
Lease liability, long term 328 358
Total liabilities 12,474 23,332
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares designated as of both March 31, 2025, and December 31, 2024; 0 shares issued and outstanding - as of both March 31, 2025 and December 31, 2024
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 6,877,816 and 4,385,929 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively 7 4
Additional paid in capital 928,178 870,503
Accumulated deficit (747,523) (730,694)
Accumulated other comprehensive loss (266) (255)
Total stockholders’ equity 180,396 139,558
Total liabilities and stockholders’ equity $ 192,870 $ 162,890