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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