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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 25,994 $ 34,050
Short-term investments 47,044 40,312
Prepaid expenses and other current assets 1,418 5,548
License agreement receivable 233 2,463
License agreement contract asset 19,509 19,363
Restricted cash 380 380
Total current assets 94,578 102,116
Investments 10,657 23,594
Deferred offering costs 175 175
Restricted cash 163 163
Operating lease right-of-use asset (See Note 7) 2,233 2,364
Total assets 107,806 128,412
Current liabilities:    
Accounts payable 5,350 7,149
Accrued expenses 5,498 7,495
Deferred revenue, current portion 1,229 1,189
Operating lease liability, current portion (See Note 7) 372 340
Warrant liabilities 0 130
Convertible debt and derivative liability (See Note 6) 12,784 0
Total current liabilities 25,233 16,303
Deferred revenue 1,817 2,727
Warrant liabilities 17,962 21,680
Convertible debt and derivative liability (See Note 6) 0 12,159
Operating lease liability (See Note 7) 2,388 2,581
Total liabilities 47,400 55,450
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value, authorized 5,000,000 shares as of June 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023 0 0
Common stock, $0.001 par value, 150,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 37,856,463 and 37,207,799 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 41 40
Additional paid-in capital 429,659 428,169
Accumulated deficit (369,294) (355,247)
Total stockholders' equity 60,406 72,962
Total liabilities and stockholders’ equity $ 107,806 $ 128,412