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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities:    
Net loss $ (34,357) $ (7,824)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 12,039 1,807
Depreciation and amortization 58 52
Change in the fair value of warrant liability (1,146) (3,784)
Change in the fair value of convertible promissory notes (2,022) (2,745)
Non-cash interest expense 110 132
Accretion of discount on short-term investment (145)  
Changes in operating assets and liabilities:    
Prepaid expenses and other current and non-current assets 2,997 (1,530)
Accounts payable (1,427) 933
Accrued expenses and other liabilities (1,837) 1,202
Net cash used in operating activities (25,730) (11,757)
Investing activities:    
Purchases of property and equipment (78) (4)
Purchase of investments (6,118)  
Maturity of investments 15,080  
Net cash provided by (used in) investing activities 8,884 (4)
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 10,340  
Acquisition of stock of Graybug, net of cash 14,859  
Merger transaction costs (4,545)  
Proceeds from issuance of convertible note payable, net   8,458
Proceeds from issuance of common stock, net of issuance costs 246 18
Net cash provided by financing activities 20,900 8,476
Net increase (decrease) in cash and cash equivalents 4,054 (3,285)
Cash, cash equivalents and restricted cash at beginning of period 1,476 4,761
Cash and cash equivalents at end of period 5,530 1,476
Supplemental cash flow information:    
Costs incurred in connection with reverse merger included in accounts payable and accrued expenses   $ 1,313
Conversion of Series A, B, C-1, C-2 and D convertible preferred stock to common stock 62,071  
Issuance of common stock to Graybug stockholders as a result of the Merger 29,218  
Short-term investments assumed in the Merger 9,776  
Prepaid expenses and other current assets assumed in the Merger 2,096  
Accounts payable and accrued liabilities assumed in the Merger 2,258  
Conversion of C-2 warrants to common stock 442  
Conversion of convertible promissory notes to common stock 3,245  
Conversion of convertible promissory note warrants to common stock 841  
Financing costs included in accounts payable 45  
Restricted stock units net settlement 297  
Reclassification of warrant liability to equity $ 216