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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 15,233 $ 16,347
Short-term investments 66,130 88,920
Accounts receivable and unbilled receivable 198 771
Prepaid expenses and other current assets 2,344 5,246
Total current assets 83,905 111,284
Property and equipment, net 1,317 1,269
Operating lease right-of-use assets 1,843 2,251
Other assets 1,387 1,387
Total Assets 88,452 116,191
Current liabilities:    
Accounts payable 2,179 1,956
Accrued liabilities 6,151 5,177
Operating lease liabilities 688 675
Total current liabilities 9,018 7,808
Operating lease liabilities, net of current portion 1,607 2,040
Total Liabilities 10,625 9,848
Commitments and contingencies (Note 6)
Stockholders’ equity    
Preferred stock, 20,000 shares authorized; 277,100 designated as Series A Convertible Preferred Stock; 60,600 shares outstanding at September 30, 2023 and December 31, 2022 with liquidation preference of $1,062 and $1,044 at September 30, 2023 and December 31, 2022, respectively (Note 5) 0 0
Common stock, $0.0001 par value, 150,000 shares authorized; 44,677 shares issued and outstanding at September 30, 2023 and December 31, 2022 4 4
Additional paid-in capital 408,434 404,834
Accumulated other comprehensive loss (407) (395)
Accumulated deficit (330,204) (298,100)
Total stockholders’ equity 77,827 106,343
Total liabilities and stockholders’ equity $ 88,452 $ 116,191