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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Current assets: |  |
Cash and cash equivalents | $ 25,617 | $ 43,893
Prepaid expenses and other current assets | 3,099 | 2,960
Total current assets | 28,716 | 46,853
Property and equipment, net | 1,782 | 2,276
Right-of-use asset, operating leases | 6,301 | 6,890
Restricted cash and restricted cash equivalents | 5,647 | 5,647
Other noncurrent assets | 4,611 | 108
Total assets | 47,057 | 61,774
Current liabilities: |  |
Accounts payable | 3,468 | 1,435
Accrued expenses and other current liabilities | 9,763 | 9,497
Venture debt, current portion | 878 | 0
Convertible notes | 0 | 32,402
Deferred revenue, current portion | 0 | 14,531
Total current liabilities | 14,109 | 57,865
Deferred revenue, net of current portion | 0 | 11,318
Lease liability, net of current portion | 6,248 | 6,786
Venture debt, net of current portion | 4,581 | 5,072
Convertible notes | 38,595 | 0
Other noncurrent liabilities | 55,000 | 0
Total liabilities | 118,533 | 81,041
Commitments and contingencies (Note 7) |  |
Preferred Stock | 111,445 | 111,445
Stockholders' deficit: |  |
Common stock, $0.0001 par value; 225,000,000 and 141,900,000 shares authorized, 7,472,835 and 7,139,216 shares issued and outstanding at December 31, 2023 and 2022, respectively | 1 | 1
Additional paid-in capital | 4,159 | 2,625
Accumulated deficit | (187,081) | (133,338)
Total stockholders' deficit | (182,921) | (130,712)
Total liabilities, convertible preferred stock and stockholders' deficit | 47,057 | 61,774
Series A convertible preferred stock [Member] |  |
Current liabilities: |  |
Preferred Stock | 47,458 | 47,458
Series A-1 convertible preferred stock [Member] |  |
Current liabilities: |  |
Preferred Stock | 4,132 | 4,132
Series B convertible preferred stock [Member] |  |
Current liabilities: |  |
Preferred Stock | $ 59,855 | $ 59,855

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