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Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 155,385 $ 183,259
Prepaid expenses and other current assets 5,127 3,267
Total current assets 160,512 186,526
Property, plant and equipment, net 1,207 650
Operating lease right-of-use assets 2,287 1,914
Restricted cash 505 160
Other long-term assets 299 181
Total assets 164,810 189,431
Current liabilities:    
Accounts payable (including related party amounts of $35 and $1,343 respectively) 9,997 5,150
Accrued clinical trial expenses   1,402
Accrued expenses (including related party amountsof $2,499 and $2,330, respectively) 14,678 11,405
Accrued interest 854 477
Operating lease liabilities, current 708 487
Total current liabilities 26,237 18,921
Long-term debt, net of discount 95,264 89,671
Revenue interest financing liability 109,525  
Operating lease liabilities 1,098 1,183
Other long-term liabilities 7,500 7,500
Total liabilities 239,624 117,275
Commitments and contingencies (Note 4)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; authorized shares - 40,000,000 at December 31, 2022 and 2021; no shares issued and outstanding at December 31, 2022 and 2021
Common stock, $0.0001 par value; authorized shares - 400,000,000 at December 31, 2022 and 2021; issued shares - 41,723,308 and 31,656,035 at December 31, 2022 and 2021, respectively; outstanding shares - 41,468,871 and 30,511,226 at December 31, 2022 and 2021, respectively 3 3
Treasury stock - 19 and 1 shares at December 31, 2022 and 2021, respectively
Additional paid-in capital 652,276 601,523
Accumulated deficit (727,093) (529,370)
Total stockholders' (deficit) equity (74,814) 72,156
Total liabilities and stockholders’ equity $ 164,810 $ 189,431