v3.25.3

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 12,551	$ 162,798
Marketable debt securities	120,119	7,494
Prepaid expenses and other current assets	2,974	1,863
Total current assets	135,644	172,155
Restricted cash, non-current	745	745
Marketable debt securities, non-current	957
Property and equipment, net	828	1,027
Operating lease right-of-use asset	3,452	4,255
Other assets	3,010	3,272
Total assets	144,636	181,454
Current liabilities:
Accounts payable	4,504	4,429
Accrued expenses and other current liabilities	4,185	5,408
Operating lease liability	1,220	1,124
Total current liabilities	9,909	10,961
Operating lease liability, non-current	2,436	3,359
Total liabilities	12,345	14,320
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, $0.001 par value, authorized 10,000,000 shares: Series 1 Convertible Preferred Stock, 8,028 shares authorized at September 30, 2025 and December 31, 2024, 5,615 and 7,991 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively
Common stock, $0.001 par value, authorized 100,000,000 shares: Common stock, 38,587,260 and 35,044,772 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	39	35
Additional paid-in capital	417,221	412,077
Accumulated deficit	(285,112)	(244,980)
Accumulated other comprehensive income (loss)	143	2
Total stockholders’ equity	132,291	167,134
Total liabilities and stockholders’ equity	$ 144,636	$ 181,454

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Protara Therapeutics, Inc. 10-Q