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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 77,965 $ 25,617
Prepaid expenses and other current assets 3,912 3,099
Total current assets 81,877 28,716
Equity method investment 2,600 0
Property and equipment, net 1,370 1,782
Right-of-use asset, operating leases 5,722 6,301
Restricted cash and restricted cash equivalents 647 5,647
Other noncurrent assets 116 4,611
Total assets 92,332 47,057
Current liabilities:    
Accounts payable 2,989 3,468
Accrued expenses and other current liabilities 7,479 9,763
CVR liability 2,900 0
Venture debt, current portion 3,097 878
Total current liabilities 16,465 14,109
Lease liability, net of current portion 5,636 6,248
Venture debt, net of current portion 9,556 4,581
Convertible notes 0 38,595
Other noncurrent liabilities 55,000 55,000
Total liabilities 86,657 118,533
Commitments and contingencies (Note 10)
Total convertible preferred stock 0 111,445
Stockholders' deficit:    
Common stock, $0.0001 par value; 400,000,000 shares authorized, 12,197,615 and 359,569 shares issued and outstanding at December 31, 2024 2023, respectively 2 1
Additional paid-in capital 240,487 4,159
Accumulated other comprehensive loss 0 0
Accumulated deficit (234,814) (187,081)
Total stockholders' equity (deficit) 5,675 (182,921)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) 92,332 47,057
Series A convertible preferred stock [Member]    
Current liabilities:    
Total convertible preferred stock 0 47,458
Series A-1 convertible preferred stock [Member]    
Current liabilities:    
Total convertible preferred stock 0 4,132
Series B convertible preferred stock [Member]    
Current liabilities:    
Total convertible preferred stock $ 0 $ 59,855