XML 38 R31.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Restatement of Previously Issued Consolidated Financial Statements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Prior Period Adjustment [Abstract] |
Summary of Impact of Correction of Misstatements | The impact of the correction of the misstatements is summarized below (in thousands):
|  | As of June 30, 2023 |
Corrected Condensed Consolidated Balance Sheets (Unaudited) |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |
Warrant liabilities |  |  | — |  |  |  | 56,181 |  |  |  | 56,181 |
Total liabilities |  |  | 6,836 |  |  |  | 56,181 |  |  |  | 63,017 |
Common stock |  |  | 23 |  |  |  | — |  |  |  | 23 |
Additional paid-in capital |  |  | 323,142 |  |  |  | — |  |  |  | 323,142 |
Accumulated deficit |  |  | (223,216 | ) |  |  | (56,181 | ) |  |  | (279,397 | )
Total Stockholders' Equity |  | $ | 99,949 |  |  | $ | (56,181 | ) |  | $ | 43,768 |
|  | For the Three Months Ended June 30, 2023 |  |  | For the Six Months Ended June 30, 2023 |
Corrected Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |  |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |
Change in fair value of warrant liabilities and fair value of financial instruments issued in excess of proceeds |  |  | — |  |  |  | (56,181 | ) |  |  | (56,181 | ) |  |  | — |  |  |  | (56,181 | ) |  |  | (56,181 | )
Net loss and comprehensive loss |  | $ | (9,579 | ) |  | $ | (56,181 | ) |  | $ | (65,760 | ) |  | $ | (20,351 | ) |  | $ | (56,181 | ) |  | $ | (76,532 | )
Net loss per share, basic and diluted |  | $ | (0.40 | ) |  | $ | (2.34 | ) |  | $ | (2.74 | ) |  | $ | (1.06 | ) |  | $ | (2.93 | ) |  | $ | (3.99 | )
|  | For the Six Months Ended June 30, 2023 |
|  | Accumulated Deficit |  |  | Total Stockholders' Equity |
Corrected Condensed Consolidated Statements of Stockholders' Equity (Unaudited) |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |  |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |
Balance as of December 31, 2022 |  | $ | (202,865 | ) |  | $ | — |  |  | $ | (202,865 | ) |  | $ | 84,183 |  |  | $ | — |  |  | $ | 84,183 |
Stock-based compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,381 |  |  |  | — |  |  |  | 1,381 |
Net loss and comprehensive loss |  |  | (10,772 | ) |  |  | — |  |  |  | (10,772 | ) |  |  | (10,772 | ) |  |  | — |  |  |  | (10,772 | )
Balance as of March 31, 2023 |  | $ | (213,637 | ) |  | $ | — |  |  | $ | (213,637 | ) |  | $ | 74,792 |  |  | $ | — |  |  | $ | 74,792 |
Issuance of common stock and pre-funded warrants in connection with Securities Purchase Agreement, net of issuance costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 33,017 |  |  |  | — |  |  |  | 33,017 |
Stock-based compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,720 |  |  |  | — |  |  |  | 1,720 |
Net loss and comprehensive loss |  |  | (9,579 | ) |  |  | (56,181 | ) |  |  | (65,760 | ) |  |  | (9,579 | ) |  |  | (56,181 | ) |  |  | (65,760 | )
Balance as of June 30, 2023 |  | $ | (223,216 | ) |  | $ | (56,181 | ) |  | $ | (279,397 | ) |  | $ | 99,949 |  |  | $ | (56,181 | ) |  | $ | 43,768 |
|  | For the Six Months Ended June 30, 2023 |
Corrected Condensed Consolidated Statements of Cash Flows (Unaudited) |  | As Previously Reported |  |  | Restatement Impact |  |  | As Restated |
Net loss |  | $ | (20,351 | ) |  | $ | (56,181 | ) |  | $ | (76,532 | )
Change in fair value of warrant liabilities and fair value of financial instruments issued in excess of proceeds |  |  | — |  |  |  | 56,181 |  |  |  | 56,181 |
Net cash used in operating activities |  | $ | (18,145 | ) |  | $ | — |  |  | $ | (18,145 | )

X
- References No definition available. + Details
Name: | us-gaap_PriorPeriodAdjustmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration