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Restatement of Previously Issued Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 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 March 31, 2024
Corrected Condensed Consolidated Balance Sheets (Unaudited)		As Previously Reported				Restatement Impact				As Restated
Warrant liabilities			—				89,547				89,547
Total liabilities			5,999				89,547				95,546
Common stock			25				—				25
Additional paid-in capital			328,280				—				328,280
Accumulated deficit			(253,486	)			(89,547	)			(343,033	)
Total Stockholders' Equity (Deficit)		$	74,819			$	(89,547	)		$	(14,728	)

		Three Months Ended March 31, 2024
Corrected Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)		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			—				(13,336	)			(13,336	)
Net loss and comprehensive loss		$	(10,295	)		$	(13,336	)		$	(23,631	)
Net loss per share, basic and diluted		$	(0.34	)		$	(0.45	)		$	(0.79	)

		Three Months Ended March 31, 2024
		Accumulated Deficit												Total Stockholders' Equity (Deficit)
Corrected Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited)		As Previously Reported				Restatement Impact				As Restated				As Previously Reported				Restatement Impact				As Restated
Balance as of December 31, 2023		$	(243,191	)		$	(76,211	)		$	(319,402	)		$	83,419			$	(76,211	)		$	7,208
Issuance of common stock in connection with exercise of pre-funded warrants			—				—				—				1				—				1
Stock-based compensation			—				—				—				1,694				—				1,694
Net loss and comprehensive loss			(10,295	)			(13,336	)			(23,631	)			(10,295	)			(13,336	)			(23,631	)
Balance as of March 31, 2024 (As Restated)		$	(253,486	)		$	(89,547	)		$	(343,033	)		$	74,819			$	(89,547	)		$	(14,728	)

		Three Months Ended March 31, 2024
Corrected Condensed Consolidated Statements of Cash Flows (Unaudited)		As Previously Reported				Restatement Impact				As Restated
Net loss		$	(10,295	)		$	(13,336	)		$	(23,631	)
Change in fair value of warrant liabilities and fair value of financial instruments issued in excess of proceeds			—				13,336				13,336
Net cash used in operating activities		$	(8,741	)		$	-			$	(8,741	)

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- References

No definition available.

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- 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

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