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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 17,122 $ 23,767
Short-term investments 77,338 0
Restricted cash 62 62
Prepaid materials, net 3,183 3,010
Prepaid expenses and other current assets 2,633 1,340
Total current assets 100,338 28,179
Long-term investments 1,469 0
Property and equipment, net 1,083 1,061
Intangibles, net 27 33
Right of use asset 1,181 1,477
Other assets 21 0
Total assets 104,119 30,750
Current liabilities:    
Accounts payable 601 204
Accrued liabilities 923 691
Accrued research and development expenses 1,068 921
Accrued compensation 1,870 2,979
Term loan, less debt issuance costs 0 1,334
Other current liabilities 801 2,379
Total current liabilities 5,263 8,508
Lease liability, less current portion 675 1,055
Total liabilities 5,938 9,563
Commitments and Contingencies
Stockholders’ equity:    
Common stock, $0.001 par value; 300,000,000 shares authorized at June 30, 2024 and December 31, 2023; 65,465,876 and 20,222,672 shares issued and outstanding at June 30, 2024 (unaudited) and December 31, 2023, respectively 65 20
Additional paid-in capital 630,916 534,375
Accumulated other comprehensive loss (87) 0
Accumulated deficit (532,718) (513,213)
Total stockholders’ equity 98,181 21,187
Total liabilities and stockholders’ equity 104,119 30,750
Class A-1 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock 0 0
Class A-2 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock 1 1
Class A-3 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock 0 0
Class A-4 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock 4 4
Class A-5 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock 0 0
Class A-6 Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock $ 0 $ 0