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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 14,645 $ 28,821
Marketable securities 0 6,179
Accounts receivable 0 143
Inventory 128 37
Prepaid expenses and other current assets 4,925 3,672
Total current assets 19,698 38,852
Restricted cash 58 58
Operating lease right-of-use assets 3,776 4,168
Property and equipment, net 8,037 9,263
TOTAL ASSETS 31,569 52,341
Current liabilities:    
Accounts payable 1,678 1,504
Accrued liabilities 6,733 3,720
Share subscriptions payable 3,810 0
Operating lease obligations, current portion 732 576
Finance lease obligations, current portion 0 27
Notes payable, current portion 10,875 14,627
Convertible notes payable, current portion 0 4,876
Total current liabilities 23,828 25,330
Operating lease obligations, net of current portion 4,335 4,903
Notes payable, net of current portion 1,668 1,894
Convertible notes payable, net of current portion 5,271 5,258
Common stock warrant liabilities 592 1,481
Clene Nanomedicine contingent earn-out liability 0 75
Initial Stockholders contingent earn-out liability 0 10
TOTAL LIABILITIES 35,694 38,951
Commitments and contingencies (Note 9)
Stockholders’ equity (deficit):    
Common stock, $0.0001 par value: 600,000,000 and 300,000,000 shares authorized at September 30, 2024 and December 31, 2023, respectively; 6,857,170 and 6,421,084 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1 1
Additional paid-in capital 264,225 255,913
Accumulated deficit (268,574) (242,723)
Accumulated other comprehensive income 223 199
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) (4,125) 13,390
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 31,569 $ 52,341