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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 5,741 $ 20,549
Short-term investments 101,829 119,629
Prepaid expenses and other current assets 3,834 3,552
Total current assets 111,404 143,730
Operating lease asset, net 773 926
In-process research and development 32,386 32,386
Other assets 346 363
Total assets 144,909 177,405
Current liabilities:    
Accounts payable 5,831 5,833
Current operating lease liabilities 336 314
Accrued expenses and other liabilities 7,552 5,430
Total current liabilities 13,719 11,577
Deferred tax liabilities 2,183 2,183
Non-current operating lease liabilities 467 640
Warrant liabilities 22,512 44,865
Total liabilities 38,881 59,265
Commitments and contingencies (Note 7)
Stockholders' equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized at June 30, 2025 and 200,000,000 at December 31, 2024 ;59,881,775 and 59,789,275 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 60 60
Additional paid-in capital 423,619 417,946
Accumulated other comprehensive income (loss) (48) 26
Accumulated deficit (373,297) (355,586)
Total stockholders’ equity 50,334 62,446
Total liabilities, convertible preferred stock and stockholders' equity 144,909 177,405
Series X1 Non-voting Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock, value 53,543 53,543
Series X Non-Voting Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock, value $ 2,151 $ 2,151