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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 8,289 $ 18,257
Subscription receivable 635 0
Prepaid expenses and other current assets 1,077 3,372
Total current assets 10,001 21,629
Property and equipment, net 0 71
Acquired intangible asset 0 2,258
Goodwill 0 881
Right-of-use lease assets 0 1,212
Other assets 100 90
Total Assets 10,101 26,141
Current Liabilities:    
Accounts payable 1,275 1,375
Accrued expenses 391 3,449
Lease liabilities 0 133
Total current liabilities 1,666 4,957
Royalty purchase liability 151,049 151,049
Lease liabilities, net of current portion 0 1,117
Warrant liability 1,055 0
Deferred tax liability 0 203
Total liabilities 153,770 157,326
Commitments and contingencies (Note 10)
Stockholders’ Equity:    
Common stock, $0.001 par value: 200,000,000 shares authorized; 75,462,390 and 54,392,170 shares issued and outstanding at December 31, 2024 and 2023, respectively 75 54
Additional paid-in capital 308,247 306,167
Accumulated deficit (456,363) (437,406)
Total stockholders' deficit (148,041) (131,185)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 10,101 26,141
Series B Redeemable Convertible Preferred Stock [Member]    
Current Liabilities:    
Series B convertible preferred stock, $0.001 par value: 10,000,000 shares authorized;119,318 and 0 shares issued and outstanding at December 31, 2024 and 2023, respectively $ 4,372 $ 0