| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| R&D Expense | $187.4M | +31.1% |
| SG&A Expense | $54.2M | +0.4% |
| Operating Income | -$241.6M | -22.7% |
| Pre-tax Income | -$219.9M | -31.3% |
| Income Tax | $0 | -100.0% |
| Net Income | -$219.9M | -31.4% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $88.3M | +6.4% |
| Short-term Investments | $289.6M | -8.4% |
| Current Assets | $386.8M | -6.7% |
| Total Assets | $448.4M | -27.9% |
| Current Liabilities | $37.7M | +23.1% |
| Total Liabilities | $39.6M | +25.9% |
| Stockholders' Equity | $408.7M | -30.8% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Operating Cash Flow | -$175.8M | -21.0% |
| Capital Expenditures | $49K | — |
| Investing Cash Flow | $180.0M | +232.0% |
| Financing Cash Flow | $1.1M | -99.6% |
| Free Cash Flow | -$175.8M | -21.0% |