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BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 85,899 $ 116,678
Accounts receivable 229 901
Marketable securities 413  
Prepaid expenses 6,441 5,977
Convertible note receivable   11,897
Assets held for sale 169 487
Contract asset 1,469  
Other current assets 369 419
Total current assets 94,989 136,359
Restricted cash 22,569  
Property, equipment, and software—net 3,089 6,338
Intangible assets—net 622 400
Right-of-use assets—net 7,090 8,263
Investment in equity securities 3,206 3,206
Note receivable—net 4,602 4,990
Other assets 221 225
Total assets 136,388 159,781
Current liabilities:    
Accounts payable 1,312 2,968
Accrued compensation 5,182 4,978
Accrued research and development expenses 2,016 1,557
Deferred revenue 2,957 12,035
Loan payable-current portion   22,412
Lease liabilities 1,320 1,133
Other current liabilities 989 2,391
Current liabilities of discontinued operations 1,204 2,513
Total current liabilities 14,980 49,987
Loan payable 22,321  
Deferred revenue 23,300 73,082
Lease liabilities 6,404 7,723
Warrant liability 2,796  
Contract liabilities 10,000 10,000
Other noncurrent liabilities 194 128
Total liabilities 79,995 140,920
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock: $0.0001 par value- 10,000,000 shares authorized as of December 31, 2024 and December 31, 2023; no shares issued and outstanding as of December 31, 2024 and December 31, 2023
Common stock: $0.000005 par value- 200,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 8,229,730 shares issued and 8,202,715 shares outstanding as of December 31, 2024; 4,191,053 shares issued and 4,164,038 shares outstanding as of December 31, 2023 1 1
Additional paid-in capital 539,808 509,443
Accumulated deficit (482,464) (489,631)
Treasury stock (952) (952)
Total stockholders’ equity 56,393 18,861
Total liabilities and stockholders’ equity $ 136,388 $ 159,781