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SUPPLEMENTAL BALANCE SHEET DISCLOSURES | 9 Months Ended
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Sep. 30, 2024
SUPPLEMENTAL BALANCE SHEET DISCLOSURES |
SUPPLEMENTAL BALANCE SHEET DISCLOSURES | 3. SUPPLEMENTAL BALANCE SHEET DISCLOSURES Components of selected captions in the unaudited condensed consolidated balance sheets consisted of the following: ​ Accounts receivable, net ​ Accounts receivable from product sales are net of allowance for credit losses. The allowance for credit losses was $0 as of both September 30, 2024 and December 31, 2023. ​ Inventory, net (in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ |  | 2024 | ​ | 2023
Raw materials | ​ | $ | 349 | ​ | $ | 351
Work-in-process | ​ |  | 375 | ​ |  | 67
Finished goods | ​ |  | 137 | ​ |  | 96
Inventory, gross | ​ | ​ | 861 | ​ | ​ | 514
Inventory reserve | ​ |  | (87) | ​ |  | (57)
Inventory, net | ​ | $ | 774 | ​ | $ | 457
​ During the nine months ended September 30, 2024, $2 thousand of inventory was written off to the inventory reserve. Prepaid expenses and other current assets (in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, |  | December 31,
​ |  | 2024 | ​ | 2023
Prepaid expenses | ​ | $ | 299 | ​ | $ | 689
Inventory related | ​ |  | 334 | ​ |  | 333
Deferred offering costs | ​ | ​ | 7 | ​ | ​ | 140
Total prepaid expenses and other current assets | ​ | $ | 640 | ​ | $ | 1,162
​ Accrued and other current liabilities (in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, |  | December 31,
​ |  | 2024 |  | 2023
Insurance payable | ​ | $ | — | ​ | $ | 446
Employees benefits | ​ | ​ | 586 | ​ | ​ | 509
Professional services | ​ |  | 36 | ​ |  | 52
Franchise tax | ​ |  | 30 | ​ |  | 168
Other | ​ |  | 36 | ​ |  | 85
Total accrued and other current liabilities | ​ | $ | 688 | ​ | $ | 1,260
​ Deferred revenue Exclusive Distribution Agreement Pursuant to an Exclusive Distribution Agreement with Health Tech Connex Inc. (“HTC”) (“Exclusivity Agreement”) entered into on March 3, 2023, subject to certain terms and conditions, the Company granted to HTC the exclusive right to provide PoNS Therapy in the Fraser Valley and Vancouver metro regions of British Columbia. HTC will purchase the PoNS devices for use in these regions exclusively from the Company and on terms no less favorable than the then-current standard terms and conditions. This Exclusivity Agreement replaced the previous Clinical Research and Co-Promotion Agreement (“Co-Promotion Agreement”) between the parties entered into in October 2019 that included a similar exclusive right provision. The exclusive right under the Exclusivity Agreement was granted for a value of CAD$273 thousand, which is represented by the unamortized up-front payment under the former Co-Promotion Agreement. The initial term of the Exclusivity Agreement expires on December 31, 2027, and is renewable by HTC for one additional five-year term upon sixty days’ written notice to the Company. Deferred revenue as of both September 30, 2024 and December 31, 2023 is comprised of the remaining unamortized amount under the Exclusivity Agreement. Revenue recognized is included in Other revenue in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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