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Condensed Consolidated Financial Statements Details | 6 Months Ended
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Jun. 30, 2024
Condensed Consolidated Financial Statement Details |
Condensed Consolidated Financial Statements Detail | 3. Condensed Consolidated Financial Statements Details Equity Securities As of June 30, 2024 and December 31, 2023, equity securities consisted of an investment in Rezolute’s common stock of $0.7 million and $0.2 million, respectively (see Note 4). For the three and six months ended June 30, 2024, the Company recognized a gain of $0.3 million and $0.5 million, respectively, due to the change in fair value of its investment in Rezolute’s common stock, which is included in the other income (expense), net line item of the condensed consolidated statements of operations and comprehensive income (loss). For the three and six months ended June 30, 2023, the Company recognized a gain of $10,000 and a loss of $15,000, respectively, due to the change in fair value of its investment in Rezolute. ​ Accrued and Other Liabilities Accrued and other liabilities consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Accrued short-term interest payable | ​ | $ | 3,120 | ​ | $ | —
Accrued incentive compensation | ​ | ​ | 786 | ​ | ​ | 1,203
Other accrued liabilities | ​ | ​ | 483 | ​ | ​ | 625
Accrued legal and accounting fees | ​ | ​ | 357 | ​ | ​ | 791
Accrued payroll, severance and retention costs | ​ |  | 123 | ​ |  | 149
Total | ​ | $ | 4,869 | ​ | $ | 2,768
​ Net Income (Loss) Per Share Available to (Attributable to) Common Stockholders The following table includes the computation of basic and diluted net income (loss) per share available to (attributable to) common stockholders (in thousands, except per share amounts): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Numerator |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net income (loss) | ​ | $ | 15,985 | ​ | $ | (5,400) | ​ | $ | 7,390 | ​ | $ | (15,213)
Less: Series A accumulated dividends | ​ |  | (530) | ​ |  | (530) | ​ |  | (1,061) | ​ |  | (1,061)
Less: Series B accumulated dividends | ​ | ​ | (838) | ​ | ​ | (838) | ​ | ​ | (1,675) | ​ | ​ | (1,675)
Less: Allocation of undistributed earnings to participating securities | ​ |  | (4,393) | ​ | ​ | — | ​ |  | (1,401) | ​ | ​ | —
Net income (loss) available to (attributable to) common stockholders, basic | ​ | $ | 10,224 | ​ | $ | (6,768) | ​ | $ | 3,253 | ​ | $ | (17,949)
Add: Adjustments to undistributed earnings allocated to participating securities | ​ |  | 4,393 | ​ | ​ | — | ​ |  | 1,401 | ​ | ​ | —
Net income (loss) available to (attributable to) common stockholders, diluted | ​ | $ | 14,617 | ​ | $ | (6,768) | ​ | $ | 4,654 | ​ | $ | (17,949)
​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Denominator | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, basic | ​ |  | 11,643 | ​ | ​ | 11,466 | ​ |  | 11,611 | ​ |  | 11,463
Effect of dilutive Series X Preferred Stock | ​ | ​ | 5,003 | ​ | ​ | — | ​ | ​ | 5,003 | ​ | ​ | —
Effect of dilutive common stock options | ​ |  | 673 | ​ | ​ | — | ​ |  | 647 | ​ | ​ | —
Effect of dilutive warrants for common stock | ​ |  | 2 | ​ | ​ | — | ​ |  | 2 | ​ | ​ | —
Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, diluted | ​ |  | 17,321 | ​ | ​ | 11,466 | ​ |  | 17,263 | ​ |  | 11,463
Net income (loss) available to (attributable to) common stockholders, basic | ​ | $ | 0.88 | ​ | $ | (0.59) | ​ | $ | 0.28 | ​ | $ | (1.57)
Net income (loss) per share available to (attributable to) common stockholders, diluted | ​ | $ | 0.84 | ​ | $ | (0.59) | ​ | $ | 0.27 | ​ | $ | (1.57)
​ Potentially dilutive securities are excluded from the calculation of diluted net income (loss) per share available to (attributable to) common stockholders if their inclusion is anti-dilutive. The following table shows the weighted-average shares from outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share available to (attributable to) common stockholders (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Convertible preferred stock | ​ | — | ​ | 5,003 | ​ | — | ​ | 5,003
Common stock options |  | 1,107 | ​ | 1,719 |  | 1,311 | ​ | 1,634
Warrants for common stock |  | 120 | ​ | 6 |  | 120 | ​ | 6
Total |  | 1,227 |  | 6,728 |  | 1,431 |  | 6,643
​ For PSUs with market conditions, if the market conditions have not been satisfied by the end of the reporting period, the number of shares that would be issuable based on the market price at the end of the reporting period, as if the end of the reporting period were the end of the contingency period, will be included in the calculation of diluted earnings per share if the effect is dilutive. No shares would be issuable based on the market price of $23.69 per share as of June 30, 2024.

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