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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 71,580 $ 188,893
Marketable securities 342,647 150,384
Prepaid expenses and other current assets 6,852 2,251
Total current assets 421,079 341,528
Restricted cash 0 322
Other non-current assets 10 9
TOTAL ASSETS 421,089 341,859
CURRENT LIABILITIES    
Accounts payable 5,165 896
CVR liability 24,740 1,390
Accrued and other current liabilities 13,153 13,108
Total current liabilities 57,539 31,978
Non-current CVR liability 36,160 41,310
TOTAL LIABILITIES 93,699 73,288
Commitments and Contingencies (Note 7 and 8)
STOCKHOLDERS’ EQUITY    
Common stock, $0.0001 par value; 400,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 51,395,608 shares and 36,057,109 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 12 10
Additional paid-in capital 1,086,237 763,191
Accumulated other comprehensive income 1,457 302
Accumulated deficit (916,136) (764,414)
TOTAL STOCKHOLDERS’ EQUITY 327,390 184,016
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY 421,089 341,859
Series B Non Voting Convertible Preferred Stock    
CURRENT LIABILITIES    
Series B non-voting convertible preferred stock, $0.0001 par value; 150,000 shares authorized, issued, and outstanding as of December 31, 2023. 0 84,555
STOCKHOLDERS’ EQUITY    
Series A non-voting convertible preferred stock & preferred stock shares authorized, issued, and outstanding, value $ 9,395 0
Preferred stock, authorized (in shares) 271,625  
Preferred stock, issued (in shares) 16,667  
Preferred stock, outstanding (in shares) 16,667  
Series A Non Voting Convertible Preferred Stock    
STOCKHOLDERS’ EQUITY    
Series A non-voting convertible preferred stock & preferred stock shares authorized, issued, and outstanding, value $ 146,425 $ 184,927
Preferred stock, authorized (in shares) 1,086,341 1,086,341
Preferred stock, issued (in shares) 346,045 437,037
Preferred stock, outstanding (in shares) 346,045 437,037
Preferred Stock, Excluding Series A Non Voting Convertible Preferred Stock    
STOCKHOLDERS’ EQUITY    
Series A non-voting convertible preferred stock & preferred stock shares authorized, issued, and outstanding, value $ 0 $ 0
Preferred stock, authorized (in shares) 8,642,034 8,763,659
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Related Party    
CURRENT LIABILITIES    
Related party accounts payable and other current liabilities $ 14,481 $ 16,584