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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 57,024 $ 169,681
Marketable securities 209,099  
Prepaid expenses and other current assets 1,379 1,677
Total current assets 267,502 171,358
Long-term assets    
Property and equipment, net 19 12
Operating lease right-of-use assets 268 407
Intangible assets, net 7,777 8,749
Long-term marketable securities 28,482  
Other long-term assets 83 165
Total assets 304,131 180,691
Current liabilities    
Accounts payable 3,716 3,149
Accrued compensation 2,149 3,135
Accrued clinical trial site costs 1,863 3,393
Operating lease liabilities 296 273
Other current liabilities 1,126 1,555
Total current liabilities 9,150 11,505
Long-term liabilities    
Contingent liability for Essentialis purchase price 13,587 11,549
Common stock purchase liability 637  
Long-term lease liabilities 0 130
Total liabilities 23,374 23,184
Commitments and contingencies (Note 6)
Stockholders’ equity    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 38,386,779 and 31,678,159 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 38 32
Additional paid-in-capital 600,534 433,885
Accumulated other comprehensive loss (153)
Accumulated deficit (319,662) (276,410)
Total stockholders’ equity 280,757 157,507
Total liabilities and stockholders’ equity $ 304,131 $ 180,691