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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash $ 60,552 $ 59,275
Accounts receivable 68 21
Inventory 41 191
Prepaid expenses and other current assets 4,732 3,502
Total current assets 65,393 62,989
Restricted cash 58
Right-of-use assets 3,340 1,029
Property and equipment, net 4,246 4,225
TOTAL ASSETS 73,037 68,243
Current liabilities:    
Accounts payable 1,023 1,124
Accrued liabilities 3,117 3,960
Income tax payable 164 164
Deferred revenue from related parties 112 112
Operating lease obligations, current portion 262 194
Finance lease obligations, current portion 153 190
Clene Nanomedicine contingent earn-out, current portion 5,924
Total current liabilities 4,831 11,668
Operating lease obligations, net of current portion 4,068 1,785
Finance lease obligations, net of current portion 125 205
Convertible notes payable 4,559
Notes payable 14,613 1,949
Deferred income tax 68 260
Warrant liability 910
Clene Nanomedicine contingent earn-out, net of current portion 33,981 46,129
Initial Shareholders contingent earn-out 4,196 5,906
TOTAL LIABILITIES 67,351 67,902
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Common stock, $0.0001 par value: 150,000,000 and 100,000,000 shares authorized at September 30, 2021 and December 31, 2020, respectively; 62,177,020 and 59,526,171 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 6 6
Additional paid-in capital 173,203 153,571
Accumulated deficit (167,724) (153,561)
Accumulated other comprehensive income 201 325
TOTAL STOCKHOLDERS’ EQUITY 5,686 341
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 73,037 $ 68,243