v3.26.1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 53,972	$ 30,629
Short-term investments	216,957	114,108
Accounts receivable, net (allowance for doubtful accounts was $375 for each period)	58	6
Prepaid expenses and other current assets	4,365	3,646
Total current assets	275,352	148,389
Noncurrent assets:
Property and equipment, net	92,483	76,597
Right-of-use asset, net	2,444	1,500
Intangible assets, in-process research and development	40,000	40,000
Other assets, net	490	486
Total assets	410,769	266,972
Current liabilities:
Accounts payable and accrued expenses	26,485	20,511
Lease liability	1,069	623
Accrued personnel expenses	3,876	7,489
Note payable	56	56
Total current liabilities	31,486	28,679
Noncurrent liabilities:
Lease liability, net of current portion	1,552	1,005
Note payable, net of current portion	1,554	1,569
Deferred Income (Note 3)	26,600	26,600
Deferred tax liability	1,702	1,702
Other noncurrent liabilities	437	386
Total liabilities	63,331	59,941
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock: $0.001 par value; 7,000,000 shares authorized; 5,000,000 designatedSeries B convertible; no shares issued	0	0
Common stock: $0.001 par value; 750,000,000 shares authorized; 114,017,755 and 74,337,990 shares issued	114	74
Additional paid-in capital	708,579	541,687
Accumulated other comprehensive (loss) income	(226)	110
Accumulated deficit	(361,029)	(334,840)
Total stockholders' equity	347,438	207,031
Total liabilities and stockholders' equity	$ 410,769	$ 266,972

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

Perspective Therapeutics, Inc. 10-Q