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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 71,232 $ 127,965
Collaboration receivable - related party 18,601 8,674
Inventories 52,997 29,647
Prepaid expenses and other current assets 6,435 9,124
Total current assets 149,265 175,410
Property and equipment, net 17,794 22,457
Operating lease assets 103,282 109,793
Restricted cash 9,873 8,185
Restricted investments 0 1,401
Other non-current assets [1] 41,517 41,354
Total assets 321,731 358,600
Current liabilities:    
Accounts payable 4,809 3,641
Accrued expenses and other current liabilities [2] 86,356 80,611
Operating lease liabilities 9,195 6,677
Deferred income - related party 7,922 7,730
Total current liabilities 108,282 98,659
Long term portion of note payable, net of discount 102,494 101,544
Operating lease liabilities, net of current portion 100,936 105,715
Deferred revenue - related party 95,364 95,364
Warrant liabilities 0 546
Other long-term liabilities 1,729 1,628
Total liabilities 408,805 403,456
Commitments and contingencies (Note 15)
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued and outstanding at June 30, 2024 and December 31, 2023 0 0
Common stock, $0.001 par value; 360,000,000 shares authorized at June 30, 2024 and 240,000,000 share authorized December 31, 2023; 151,633,922 and 135,041,467 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 152 135
Additional paid-in capital 964,012 933,244
Accumulated other comprehensive loss 0 0
Accumulated deficit (1,051,238) (978,235)
Total stockholders' deficit (87,074) (44,856)
Total liabilities and stockholders' deficit $ 321,731 $ 358,600
[1] Includes $38,877 as of June 30, 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 $43,075 and $28,053 at June 30, 2024 and December 31, 2023, respectively (see Note 17, Related Party Transactions).