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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 334,474,000 $ 21,644,000
Restricted cash   3,313,000
Prepaid expenses and other current assets 1,993,000 349,000
Total current assets 336,467,000 25,306,000
Investments 100,000 100,000
Property and equipment, net 543,000 323,000
Operating right-of-use assets, net 271,000 195,000
Total assets 337,381,000 25,924,000
Current Liabilities:    
Accounts payable 2,098,000 1,866,000
Accrued expenses and other current liabilities 10,709,000 7,938,000
Current portion of term loan 6,000,000 6,000,000
Operating lease liabilities, current 273,000 194,000
Convertible Promissory notes   20,674,000
Convertible promissory notes embedded derivative liability   18,183,000
Deferred grant income   3,313,000
Total current liabilities 19,080,000 58,168,000
Term loan 3,940,000 8,201,000
Warrant liability 613,000 229,000
Total liabilities 23,633,000 66,598,000
Redeemable convertible preferred stock, par value of $0.00001, 31,634,362 shares authorized as of December 31, 2023, and 31,465,128 shares issued and outstanding as of December 31, 2023; aggregate liquidation preference of $131,864 as of December 31, 2023; no shares issued and outstanding as of September 30, 2024 0 132,722,000
Commitments and Contingencies (Note 8)
Stockholders' Equity (Deficit)    
Common stock, $0.00001 par value; 500,000,000 and 52,400,000 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 34,196,821 and 1,673,314 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively
Preferred stock, $0.00001 par value; 10,000,000 shares authorized as of September 30, 2024; no shares and outstanding as of September 30, 2024; no shares authorized, issued, or outstanding as of December 31, 2023
Additional paid-in-capital 545,321,000 8,142,000
Accumulated other comprehensive income 109,000 164,000
Accumulated deficit (231,682,000) (181,702,000)
Total stockholders' equity (deficit) 313,748,000 (173,396,000)
Total liabilities and stockholders' equity (deficit) $ 337,381,000 $ 25,924,000