| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Revenue | $9.0M | — |
| R&D Expense | $74.0M | +25.3% |
| SG&A Expense | $27.8M | +45.2% |
| Operating Income | -$92.8M | -18.7% |
| Pre-tax Income | -$80.6M | -13.4% |
| Income Tax | $0 | — |
| Net Income | -$80.6M | -13.4% |
| EPS (Basic) | -$2.24 | +66.2% |
| EPS (Diluted) | -$2.24 | +66.2% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $188.9M | -46.7% |
| Short-term Investments | $92.2M | — |
| Accounts Receivable | $769K | — |
| Current Assets | $286.8M | -19.7% |
| Total Assets | $294.9M | -17.7% |
| Current Liabilities | $20.1M | -27.5% |
| Long-term Debt | $0 | -100.0% |
| Total Liabilities |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Operating Cash Flow | -$81.6M | -58.4% |
| Capital Expenditures | $719K | +96.4% |
| Investing Cash Flow | -$95.2M | — |
| Financing Cash Flow | $11.5M | -97.0% |
| Free Cash Flow | -$82.3M | -58.7% |
| $22.8M |
| -34.9% |
| Stockholders' Equity | $272.1M | -15.8% |