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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 103,418 $ 76,911
Accounts receivable 2,006 5,870
Unbilled receivables 2,370 2,981
Prepaid expenses and other current assets 3,315 4,967
Total current assets 111,109 90,729
Non-current assets:    
Property and equipment, net 2,402 2,113
Right-of-use asset, net 9,556 10,068
In-process research and development assets 150,600 150,600
Goodwill 48,163 48,163
Long-term restricted cash 1,377 1,377
Investments 2,000 2,000
Total assets 325,207 305,050
Current liabilities:    
Accounts payable 2,517 3,150
Accrued expenses and other current liabilities 9,516 15,572
Lease liability 2,229 2,166
Deferred revenue 412 2,311
Warrant liabilities 597 720
Contingent value right liability 21,383 15,983
Forward contract liabilities 0 28,307
Total current liabilities 36,654 68,209
Non-current liabilities:    
Lease liability, net of current portion 8,228 8,789
Deferred revenue, net of current portion 0 3,538
Warrant liabilities, net of current portion 4,755 5,674
Contingent value right liability, net of current portion 376,517 342,617
Deferred tax liabilities, net 15,853 15,853
Total liabilities 442,007 444,680
Commitments and contingencies (Note 18)
Series A Preferred Stock, $0.0001 par value; no and $548,375 shares authorized as of March 31, 2024 and December 31, 2023, respectively; no and $435,120.513 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 0 296,851
Options for Series A Preferred Stock 0 3,703
Stockholders’ deficit:    
Preferred stock, value, issued 0 0
Common stock, $0.0001 par value; 350,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 5,515,836 and 5,397,597 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 1 1
Additional paid-in capital 559,275 179,062
Accumulated deficit (671,471) (614,647)
Accumulated other comprehensive loss (4,605) (4,600)
Total stockholders’ deficit (116,800) (440,184)
Total liabilities, convertible preferred stock, and stockholders’ deficit 325,207 305,050
Series A Preferred Stock    
Stockholders’ deficit:    
Preferred stock, value, issued $ 0 $ 0