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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 96,871,000 $ 100,141,000
Marketable securities 215,519,000 153,007,000
Restricted cash 54,000 54,000
Prepaid expenses and other current assets 5,683,000 2,949,000
Contingent value right asset 0 10,000,000
Total current assets 318,127,000 266,151,000
Property and equipment, net 630,000 742,000
Operating lease right-of-use assets 161,000 320,000
Deferred offering costs 563,000 563,000
Other long-term assets 7,562,000 4,091,000
Total assets 327,043,000 271,867,000
Current liabilities:    
Accounts payable 1,083,000 532,000
Accrued expenses and other current liabilities 11,822,000 15,362,000
Contingent value right liability 9,200,000 10,000,000
Total current liabilities 22,105,000 25,894,000
Long-term liabilities 6,000 67,000
Total liabilities 22,111,000 25,961,000
Commitments and contingencies (Note 9):
Stockholders' equity (deficit):    
Preferred stock, value 0 0
Common stock, par value $0.001; authorized shares - 100,000,000; issued and outstanding shares - 47,173,466 and 41,292,027 at June 30, 2024 and December 31, 2023, respectively 47,000 41,000
Additional paid-in capital 502,160,000 400,172,000
Accumulated other comprehensive loss (139,000) 141,000
Accumulated deficit (197,136,000) (154,448,000)
Total stockholders' equity (deficit) 304,932,000 245,906,000
Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 327,043,000 $ 271,867,000