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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 48,413 $ 169,681
Marketable securities 208,363  
Prepaid expenses and other current assets 1,423 1,677
Total current assets 258,199 171,358
Long-term assets    
Property and equipment, net 196 12
Operating lease right-of-use assets 2,992 407
Intangible assets, net 7,291 8,749
Long-term marketable securities 27,945  
Other long-term assets 83 165
Total assets 296,706 180,691
Current liabilities    
Accounts payable 6,243 3,149
Accrued compensation 3,408 3,135
Accrued clinical trial site costs 1,762 3,393
Operating lease liabilities 448 273
Other current liabilities 3,101 1,555
Total current liabilities 14,962 11,505
Long-term liabilities    
Contingent liability for Essentialis purchase price 14,464 11,549
Long-term lease liabilities 2,581 130
Total liabilities 32,007 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, 41,041,216 and 31,678,159 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 41 32
Additional paid-in-capital 660,041 433,885
Accumulated other comprehensive gain 895  
Accumulated deficit (396,278) (276,410)
Total stockholders’ equity 264,699 157,507
Total liabilities and stockholders’ equity $ 296,706 $ 180,691