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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 30,308 $ 24,228
Short-term investments 0 14,932
Restricted cash 62 62
Contract and other receivables 4 0
Prepaid materials, net 3,010 3,010
Prepaid expenses and other current assets 1,178 1,847
Total current assets 34,562 44,079
Property and equipment, net 493 536
Intangibles, net 58 62
Right of use asset 1,902 2,039
Total assets 37,015 46,716
Current liabilities:    
Accounts payable 581 175
Accrued liabilities 671 961
Accrued research and development expenses 538 1,252
Accrued compensation 1,022 2,205
Current portion of term loan, less debt issuance costs 3,716 4,511
Other current liabilities 2,294 2,553
Total current liabilities 8,822 11,657
Lease liability, less current portion 1,598 1,768
Total liabilities 10,420 13,425
Commitments and Contingencies
Stockholders’ equity:    
Common stock, $0.001 par value; 300,000,000 shares authorized at March 31, 2023 and December 31, 2022; 16,859,733 and 16,840,261 shares issued and outstanding at March 31, 2023 (unaudited) and December 31, 2022, respectively 17 17
Additional paid-in capital 516,888 516,457
Accumulated other comprehensive loss 0 (12)
Accumulated deficit (490,315) (483,176)
Total stockholders’ equity 26,595 33,291
Total liabilities and stockholders’ equity 37,015 46,716
Class A-1 Convertible Preferred Stock    
Stockholders’ equity:    
Preferred stock 0 0
Class A-2 Convertible Preferred Stock    
Stockholders’ equity:    
Preferred stock 1 1
Class A-3 Convertible Preferred Stock    
Stockholders’ equity:    
Preferred stock 0 0
Class A-4 Convertible Preferred Stock    
Stockholders’ equity:    
Preferred stock $ 4 $ 4