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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 111,184 $ 127,965
Collaboration receivable - related party 7,418 8,674
Inventories 41,973 29,647
Prepaid expenses and other current assets 4,606 9,124
Total current assets 165,181 175,410
Property and equipment, net 19,115 22,457
Operating lease assets 105,669 109,793
Restricted cash 8,430 8,185
Restricted investments 1,401 1,401
Other non-current assets [1] 41,466 41,354
Total assets 341,262 358,600
Current liabilities:    
Accounts payable 5,219 3,641
Accrued expenses and other current liabilities [2] 76,317 80,611
Operating lease liabilities 8,833 6,677
Deferred income - related party 8,109 7,730
Total current liabilities 98,478 98,659
Long term portion of note payable, net of discount 102,009 101,544
Operating lease liabilities, net of current portion 103,341 105,715
Deferred revenue - related party 95,364 95,364
Warrant liabilities 130 546
Other long-term liabilities 1,678 1,628
Total liabilities 401,000 403,456
Commitments and contingencies (Note 15)
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023 0 0
Common stock, $0.001 par value; 240,000,000 shares authorized at March 31, 2024 and December 31, 2023, respectively; 151,442,034 and 135,041,467 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 151 135
Additional paid-in capital 958,479 933,244
Accumulated other comprehensive loss 0 0
Accumulated deficit (1,018,368) (978,235)
Total stockholders' deficit (59,738) (44,856)
Total liabilities and stockholders' deficit $ 341,262 $ 358,600
[1] Includes $38,877 as of March 31, 2024 and December 31, 2023, of milestones related to the construction of the Company's dedicated manufacturing suite at BacThera AG, or Bacthera. Such amounts will form part of the right-of-use asset upon lease commencement.
[2] Includes related party amounts of $36,211 and $28,053 at March 31, 2024 and December 31, 2023, respectively (see Note 17)