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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 (deficit):    
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 417,946 270,892
Accumulated other comprehensive income 26  
Accumulated deficit (355,586) (319,402)
Total stockholders' equity (deficit) 62,446 (48,486)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) 177,405 89,066
Series X1 Non-voting Convertible Preferred Stock [Member]    
Temporary equity:    
Temporary equity, value 53,543 53,543
Series X Non-Voting Convertible Preferred Stock [Member]    
Temporary equity:    
Temporary equity, value $ 2,151 $ 2,151