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v3.25.1

Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Current assets: |  |
Cash and cash equivalents | $ 20,549 | $ 4,612
Short-term investments | 119,629 | 46,490
Prepaid expenses and other current assets | 3,552 | 5,027
Total current assets | 143,730 | 56,129
Operating lease right-of-use asset, net | 926 | 365
In-process research and development | 32,386 | 32,386
Other assets | 363 | 186
Total assets | 177,405 | 89,066
Current liabilities: |  |
Accounts payable | 5,833 | 967
Current operating lease liability | 314 | 383
Accrued expenses and other liabilities | 5,430 | 2,545
Total current liabilities | 11,577 | 3,895
Deferred tax liability | 2,183 | 1,752
Non-current operating lease liability | 640 |
Warrant liabilities | 44,865 | 76,211
Total liabilities | 59,265 | 81,858
Commitments and contingencies (Note 6) |  |
Stockholders’ equity: |  |
Common stock, $0.001 par value, 200,000,000 shares authorized at December 31, 2024 and 2023; 59,789,275 and 24,213,130 shares issued and outstanding at December 31, 2024 and 2023, respectively | 60 | 24
Additional paid-in capital | 473,640 | 326,586
Accumulated other comprehensive income | 26 |
Accumulated deficit | (355,586) | (319,402)
Total stockholders’ equity | 118,140 | 7,208
Total liabilities and stockholders’ equity | 177,405 | 89,066
Series X1 Non-voting Convertible Preferred Stock [Member] |  |
Stockholders’ equity: |  |
Preferred stock, value |  |
Series X Non-Voting Convertible Preferred Stock [Member] |  |
Stockholders’ equity: |  |
Preferred stock, value |  |

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