XML 17 R4.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 2,137 $ 10,000 $ 2,137 $ 10,000
Operating expenses:        
Cost of sales - product 318   318  
Cost of sales - intangible amortization 128   128  
Research and development 24,786 18,062 53,938 35,769
Selling, general and administrative 20,669 10,215 35,692 20,567
Total operating expenses 45,901 28,277 90,076 56,336
Loss from operations (43,764) (18,277) (87,939) (46,336)
Other expense (110) (24) (149) (54)
Interest income 822 983 1,782 2,350
Interest expense (212) (1,138) (404) (2,268)
Loss on debt extinguishment     (1,826)  
Change in fair value of preferred stock tranche liability   10,200   4,189
Change in fair value of warrant liability 20,320   17,904  
Change in fair value of Notes (2,990)   (7,405)  
Net loss $ (25,934) $ (8,256) $ (78,037) $ (42,119)
Net loss per share-basic $ (0.39) $ (0.31) $ (1.3) $ (1.57)
Net loss per share-diluted $ (0.62) $ (0.31) $ (1.41) $ (1.57)
Weighted average common shares outstanding used in computing net loss per share - basic 66,143 26,861 60,191 26,846
Weighted average common shares outstanding used in computing net loss per share - diluted 74,037 26,861 68,182 26,846
Net loss $ (25,934) $ (8,256) $ (78,037) $ (42,119)
Unrealized gain (loss) on available-for-sale securities   4   (13)
Change in fair value of Notes attributable to instrument specific credit risk 1,349   (5,290)  
Comprehensive loss (24,585) (8,252) (83,327) (42,132)
Product revenue, net        
Revenue:        
Revenue $ 2,137   $ 2,137  
Sale of COPIKTRA license and related assets        
Revenue:        
Revenue   $ 10,000   $ 10,000