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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 18,351 $ 17,618
Restricted cash, current 683 1,178
Prepaid expenses and other current assets 1,901 1,897
Total current assets 20,935 20,693
Property and equipment, net 430 483
Operating lease, right-of-use assets 5,481 5,706
Restricted cash, noncurrent 698 696
Other long-term prepaid assets 600 600
Total assets 28,144 28,178
Current liabilities    
Accounts payable 4,037 1,038
Accrued expenses 5,770 8,415
Deferred research obligation 680 1,169
Operating lease liability, current 926 901
Total current liabilities 11,413 11,523
Warrant liabilities 2,962 2,828
Operating lease liability, noncurrent 4,865 5,105
Convertible note - related party 0 20,034
Total liabilities 19,240 39,490
Commitments and contingencies—Note 10
Stockholders' equity (deficit):    
Common stock, $0.01 par value per share; 300,000,000 shares authorized; 15,983,191 shares and 11,043,837 shares issued at March 31, 2025 and December 31, 2024, respectively; 15,968,736 and 11,029,382 outstanding as of March 31, 2025 and December 31, 2024, respectively 160 110
Treasury stock, at cost, 14,455 shares outstanding (150) (150)
Additional paid-in capital 214,348 183,004
Accumulated other comprehensive loss (144) (175)
Accumulated deficit (205,310) (194,101)
Total stockholders' equity (deficit) 8,904 (11,312)
Total liabilities and stockholders’ equity (deficit) $ 28,144 $ 28,178
Treasury stock, shares outstanding (in shares) 14,455 14,455