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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 19,997 $ 26,681
Short-term investments 0 29,653
Accounts receivable 3,349 2,794
Prepaid expenses and other current assets 3,039 1,780
Total current assets 26,385 60,908
Property and equipment, net 231 434
Restricted cash, long-term 544 544
Operating lease right-of-use asset 3,163 3,056
Other assets 1,960 3,358
Goodwill 8,982 8,982
Total assets 41,265 77,282
Current liabilities:    
Accounts payable 3,024 3,172
Accrued liabilities 7,111 9,040
Current portion of operating lease liability 1,336 1,305
Current portion of liability related to sale of future royalties 7,556 8,504
Total current liabilities 19,027 22,021
Long-term operating lease liability 1,618 1,489
Liability related to the sale of future royalties, net 26,618 34,102
Total liabilities 47,263 57,612
Commitments and contingencies, Note 7
Stockholders’ equity:    
Preferred stock, $0.01 par value—5,000,000 shares authorized, no shares issued and outstanding at December 31, 2024 and 2023 0 0
Common stock, $0.01 par value—34,171,875 shares authorized, 8,487,818 shares issued and outstanding at December 31, 2024; 22,781,250 shares authorized, 5,894,085 shares issued and outstanding at December 31, 2023 85 59
Additional paid-in capital 1,233,716 1,215,792
Accumulated deficit (1,239,799) (1,196,410)
Accumulated other comprehensive gain (loss) 0 229
Total stockholders’ equity (deficit) (5,998) 19,670
Total liabilities and stockholders’ equity (deficit) $ 41,265 $ 77,282