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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 24,386 $ 1,327
Restricted Cash 0 149
Short-term investments 9,776 0
Prepaid expenses and other current assets 336 254
Total current assets 34,498 1,730
Property and equipment, net 134 147
Right-of-use asset, net 10 48
Other assets 27 1,424
Total assets 34,669 3,349
Current liabilities:    
Accounts payable 2,055 2,866
Accrued Transaction Costs 4,253 0
Accrued severance 3,748 0
Accrued Clinical Trial Costs 1,028 1,143
Accrued payroll and other employee benefits 758 36
Accrued other 695 536
Other current liabilities 113 199
Total current liabilities 12,650 4,780
Long-term liabilities    
Warrant liability 0 2,645
Convertible promissory notes 0 5,157
Total liabilities 12,650 12,582
Commitments and contingencies (Note 8)
Stockholders' equity (deficit) (1)    
Preferred stock [1] 0 0
Common stock [1] 1 3
Additional paid-in capital [1] 153,013 40,400
Accumulated deficit [1] (130,995) (111,707)
Total stockholders' equity (deficit) [1] 22,019 (71,304)
Total liabilities and stockholders’ equity 34,669 3,349
Series A Convertible Preferred Stock [Member]    
Convertible preferred stock    
convertible preferred stock 0 19,107
Series B Convertible Preferred Stock [Member]    
Convertible preferred stock    
convertible preferred stock 0 8,224
Series C-1 Convertible Preferred Stock [Member]    
Convertible preferred stock    
convertible preferred stock 0 5,683
Series C-2 Convertible Preferred Stock [Member]    
Convertible preferred stock    
convertible preferred stock 0 9,563
Series D Convertible Preferred Stock [Member]    
Convertible preferred stock    
convertible preferred stock $ 0 $ 19,494
[1]

(1) Retroactively restated for the reverse recapitalization as described in Note 2.