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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 115,509 $ 25,617
Short-term investments 19,803 0
Prepaid expenses and other current assets 2,731 3,099
Total current assets 138,043 28,716
Equity method investment 4,724 0
Property and equipment, net 1,659 1,782
Right-of-use asset, operating leases 6,160 6,301
Restricted cash and restricted cash equivalents 647 5,647
Other noncurrent assets 1,101 4,611
Total assets 152,334 47,057
Current liabilities:    
Accounts payable 4,960 3,468
Accrued expenses and other current liabilities 19,825 9,763
CVR liability 5,080 0
Venture debt, current portion 3,088 878
Total current liabilities 32,953 14,109
Lease liability, net of current portion 6,099 6,248
Venture debt, net of current portion 9,400 4,581
Convertible notes 0 38,595
Other noncurrent liabilities 55,113 55,000
Total liabilities 103,565 118,533
Commitments and contingencies (Note 10)
Temporary equity, convertible preferred stock 0 111,445
Stockholders' deficit:    
Common stock, $0.0001 par value; 400,000,000 shares authorized, 11,929,520 and 359,569 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 2 1
Additional paid-in capital 234,824 4,159
Accumulated other comprehensive loss (5) 0
Accumulated deficit (186,052) (187,081)
Total stockholders' equity (deficit) 48,769 (182,921)
Total liabilities, convertible preferred stock and stockholders' deficit 152,334 47,057
Series A convertible preferred stock [Member]    
Current liabilities:    
Temporary equity, convertible preferred stock 0 47,458
Series A-1 convertible preferred stock [Member]    
Current liabilities:    
Temporary equity, convertible preferred stock 0 4,132
Series B convertible preferred stock [Member]    
Current liabilities:    
Temporary equity, convertible preferred stock $ 0 $ 59,855