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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 14,280 $ 30,268
Prepaid expenses and other current assets 823 1,206
Total current assets 15,103 31,474
Property and equipment-net 748 886
Operating lease right-of-use assets 8,104 8,643
Other noncurrent assets 529 485
Total assets 24,484 41,488
Current liabilities:    
Accounts payable 4,716 2,450
Accrued expenses 1,221 2,726
Current loan payable (net of discount and issuance costs of nil and $74, respectively) 0 6,354
Current operating lease liabilities 1,103 869
Accrued compensation 101 1,762
Interest payable 0 59
Total current liabilities 7,141 14,220
Operating lease liabilities, less current portion 7,560 8,142
Total liabilities 14,701 22,362
Commitments and contingencies (Note 5)
Stockholders' equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 4,437,855 and 3,382,432 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively [1] 4 3
Additional paid-in capital [1] 235,615 226,229
Accumulated deficit (225,836) (207,106)
Total stockholders’ equity 9,783 19,126
Total liabilities and stockholders’ equity $ 24,484 $ 41,488
[1] Results, including shares issued and outstanding have been adjusted to reflect the one-for-thirteen stock split effected in April 2025. See Note 1, Organization and Description of the Business, for details.