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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 40,257 $ 55,699
Accounts receivable 509 1,070
Marketable securities 46,694 46,361
Research and development incentive receivable 665 640
Inventory 3,089 2,817
Prepaid expenses and other current assets 4,483 5,588
Total current assets 95,697 112,175
Property and equipment, net 487 776
Goodwill 17,351 17,351
Finite-Lived Intangible Assets, Net 9,813 10,000
Right-of-use assets 3,652 4,065
Other assets 3,013 2,080
Total assets 130,013 146,447
Current liabilities:    
Accounts payable 11,115 8,621
Accrued expenses (Note 9) 12,611 23,005
Deferred revenue 855 0
Current portion of lease liability 1,303 1,251
Total current liabilities 25,884 32,877
Long-term debt, including accretion, net of discount (Note 10) 75,629 75,425
Lease liabilities 1,109 1,410
Warrant liability (Note 5) 2,925 13,755
Deferred revenue 955 0
Other liabilities 567 831
Total liabilities 107,069 124,298
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.001 par value. 10,000,000 shares authorized and no shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.001 par value, 500,000,000 shares authorized as of March 31, 2025 and December 31, 2024, respectively; 5,788,745 and 5,698,231 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 6 6
Additional paid-in capital 538,139 537,620
Accumulated other comprehensive loss (128) (122)
Accumulated deficit (515,073) (515,355)
Total stockholders’ equity 22,944 22,149
Total liabilities and stockholders’ equity $ 130,013 $ 146,447