v3.26.1

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 14,737	$ 49,657
Marketable debt securities	121,049	105,897
Prepaid expenses and other current assets	4,211	3,950
Total current assets	139,997	159,504
Restricted cash, non-current	745	745
Marketable debt securities, non-current	41,641	42,336
Property and equipment, net	669	759
Operating lease right-of-use asset	2,891	3,174
Other assets	5,980	2,950
Total assets	191,923	209,468
Current liabilities:
Accounts payable	4,031	3,468
Accrued expenses and other current liabilities	3,627	6,229
Operating lease liability	1,264	1,242
Total current liabilities	8,922	10,939
Operating lease liability, non-current	1,793	2,117
Total liabilities	10,715	13,056
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Series 1 Convertible Preferred Stock, 8,028 shares authorized at March 31, 2026 and December 31, 2025, 4,644 and 5,615 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
Common stock, 55,055,582 and 53,587,260 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	55	54
Additional paid-in capital	501,718	498,687
Accumulated deficit	(320,201)	(302,419)
Accumulated other comprehensive income (loss)	(364)	90
Total stockholders’ equity	181,208	196,412
Total liabilities and stockholders’ equity	$ 191,923	$ 209,468

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