| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Revenue | $0 | -100.0% |
| R&D Expense | $56.0M | +32.2% |
| SG&A Expense | $16.9M | +11.5% |
| Operating Income | -$72.8M | -28.6% |
| Income Tax | $0 | — |
| Net Income | -$66.5M | -34.7% |
| EPS (Basic) | -$0.42 | -16.7% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $30.6M | -29.5% |
| Short-term Investments | $178.3M | +114.2% |
| Current Assets | $209.8M | +58.1% |
| Total Assets | $219.6M | +56.4% |
| Current Liabilities | $14.0M | +57.4% |
| Total Liabilities | $22.8M | +50.3% |
| Stockholders' Equity | $196.8M | +57.1% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Operating Cash Flow | -$49.1M | -9.6% |
| Capital Expenditures | $25K | -43.2% |
| Investing Cash Flow | -$93.3M | -299.5% |
| Financing Cash Flow | $129.6M | +647.5% |
| Free Cash Flow | -$49.2M | -9.5% |