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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 28,670 $ 62,888
Short-term investments 18,567 45,957
Accounts receivable, net 5,903 5,488
Inventory 5,311 6,427
Prepaid expenses and other current assets 2,836 3,826
Total current assets 61,287 124,586
Property and equipment, net 6,846 4,802
Operating lease right-of-use assets 787 1,169
Other assets 1,399 1,866
Total assets 70,319 132,423
Current liabilities:    
Accounts payable 2,159 5,898
Accrued liabilities 14,647 14,306
Operating lease liabilities, current portion 268 434
Due to licensor payable (Note 7) 0 5,757
Total current liabilities 17,074 26,395
Operating lease liabilities, net of current portion 565 833
Other liabilities 202 0
Total liabilities 17,841 27,228
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and 2023 0 0
Common stock, $0.0001 par value, 300,000,000 shares authorized; 24,680,708 and 24,554,205 shares issued and outstanding as of December 31, 2024 and 2023, respectively 2 2
Additional paid-in capital 385,114 374,129
Accumulated other comprehensive income 16 27
Accumulated deficit (332,654) (268,963)
Total stockholders’ equity 52,478 105,195
Total liabilities and stockholders’ equity $ 70,319 $ 132,423