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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 18,658 $ 21,655
Short-term investments 48,529 53,168
Accounts receivable and unbilled receivable 393 288
Prepaid expenses and other current assets 2,410 2,301
Total current assets 69,990 77,412
Property and equipment, net 1,199 1,238
Operating lease right-of-use assets 1,574 1,708
Other assets 1,275 1,279
Total Assets 74,038 81,637
Current liabilities:    
Accounts payable 5,191 1,966
Accrued liabilities 5,956 7,783
Operating lease liabilities 696 691
Total current liabilities 11,843 10,440
Operating lease liabilities, net of current portion 1,301 1,458
Total Liabilities 13,144 11,898
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 March 31, 2024 and December 31, 2023 with liquidation preference of $1,074 and $1,068 at March 31, 2024 and December 31, 2023, respectively (Note 5) 0 0
Common stock, $0.0001 par value, 150,000 shares authorized; 44,710 and $44,677 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 4 4
Additional paid-in capital 409,781 409,343
Accumulated other comprehensive loss (132) (67)
Accumulated deficit (348,759) (339,541)
Total stockholders’ equity 60,894 69,739
Total liabilities and stockholders’ equity $ 74,038 $ 81,637