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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 219,198 $ 76,911
Accounts receivable 4,829 5,870
Unbilled receivables 980 2,981
Prepaid expenses and other current assets 4,129 4,967
Total current assets 229,136 90,729
Non-current assets:    
Property and equipment, net 10,225 2,113
Right-of-use asset, net 13,523 10,068
In-process research and development assets 150,600 150,600
Goodwill 48,163 48,163
Long-term restricted cash 1,669 1,377
Investments 2,000 2,000
Total assets 455,316 305,050
Current liabilities:    
Accounts payable 517 3,150
Accrued expenses and other current liabilities 9,452 15,572
Lease liability 2,770 2,166
Deferred revenue 0 2,311
Warrant liabilities 5 720
Contingent value right liability 8,661 15,983
Forward contract liabilities 0 28,307
Total current liabilities 21,405 68,209
Non-current liabilities:    
Lease liability, net of current portion 11,881 8,789
Deferred revenue, net of current portion 0 3,538
Warrant liabilities, net of current portion 3,586 5,674
Contingent value right liability, net of current portion 401,839 342,617
Deferred tax liabilities, net 15,853 15,853
Total liabilities 454,564 444,680
Commitments and contingencies (Note 18)
Series A Preferred Stock, $0.0001 par value; no and 548,375 shares authorized as of September 30, 2024 and December 31, 2023, respectively; no and 435,120.513 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 0 296,851
Options for Series A Preferred Stock 0 3,703
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Common stock, $0.0001 par value; 350,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 23,896,525 and 5,397,597 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 2 1
Additional paid-in capital 687,174 179,062
Accumulated deficit (681,818) (614,647)
Accumulated other comprehensive loss (4,606) (4,600)
Total stockholders’ equity (deficit) 752 (440,184)
Total liabilities, convertible preferred stock, and stockholders’ deficit 455,316 305,050
Series A Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Series B Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued $ 0 $ 0