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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 24,095 $ 51,470
Short-term investments 55,792 40,276
Accounts receivable and unbilled receivable 405 773
Prepaid expenses and other current assets 2,419 2,535
Total current assets 82,711 95,054
Property and equipment, net 805 898
Operating lease right-of-use assets 1,034 1,169
Other assets 257 69
Total Assets 84,807 97,190
Current liabilities:    
Accounts payable 3,629 4,821
Accrued liabilities 8,946 7,897
Operating lease liabilities 716 710
Total current liabilities 13,291 13,428
Operating lease liabilities, net of current portion 640 813
Total Liabilities 13,931 14,241
Commitments and contingencies (Note 6)
Stockholders’ equity    
Preferred stock, $0.001 par value, 20,000 shares authorized; 277 designated as Series A Convertible Preferred Stock; 61 shares outstanding at March 31, 2025 and December 31, 2024 with liquidation preference of $1,098 and $1,092 at March 31, 2025 and December 31, 2024 respectively 0 0
Common stock, $0.0001 par value, 150,000 shares authorized; 66,526 and 66,524 shares issued and outstanding at March 31, 2025 and December 31, 2024 respectively 7 7
Additional paid-in capital 468,455 467,087
Accumulated other comprehensive gain 27 34
Accumulated deficit (397,613) (384,179)
Total stockholders’ equity 70,876 82,949
Total liabilities and stockholders’ equity $ 84,807 $ 97,190