Balance Sheet Components

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

5. Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Receivable from Everest, current (Note 10)	$	1,312	$	1,596
Advance for clinical-related costs, current		773		1,818
Licenses, dues and subscriptions		662		506
Insurance		104		712
Interest receivable		374		695
Others		210		251
Total prepaid expenses and other current assets	$	3,435	$	5,578

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Leasehold improvements	$	3,488		$	3,488
Furniture, laboratory and office equipment		5,559			5,559
Computer equipment		285			285
Total property and equipment		9,332			9,332
Less: accumulated depreciation and amortization		(5,941	)		(5,420	)
Property and equipment, net	$	3,391		$	3,912

Depreciation expense was $0.3 million and $0.5 million for each of the three and six months ended June 30, 2024, respectively, compared to $0.2 million and $0.5 million for the three and six months ended June 30, 2023, respectively.

Other Assets

Other assets consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Advance for clinical related costs, noncurrent	$	4,670	$	4,787
Unbilled receivable from Everest, noncurrent (Note 10)		1,099		—
Deposits for operating lease		674		674
Other		79		134
Total other assets	$	6,522	$	5,595

Accrued and Other Current Liabilities

Accrued liabilities consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Accrued clinical costs	$	5,909	$	1,801
Accrued employee-related costs		1,802		3,708
Accrued preclinical and research costs		1,532		756
Accrued professional services		55		110
Others		65		106
Total accrued liabilities	$	9,363	$	6,481