Balance Sheet Components

3 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Note 4—Balance Sheet Components

Prepaid expenses and other current assets consisted of the following (in thousands):


	March 31, 2024		December 31, 2023
Prepaid research and development	$	1,921	$	1,412
Prepaid clinical trial		955		802
Deferred offering costs		681		681
Prepaid insurance		269		292
Prepaid bonus		193		—
Other		149		292
Total prepaid expenses and other current assets	$	4,168	$	3,479

Property, plant and equipment, net consisted of the following (in thousands):


	March 31, 2024			December 31, 2023
Leasehold improvements	$	2,117		$	2,117
Laboratory equipment		3,008			2,868
Computer equipment		1,133			1,133
Furniture and fixtures		864			864
Construction in progress		6,875			6,823
		13,997			13,805
Accumulated depreciation		(3,311	)		(2,979	)
Property, plant and equipment, net	$	10,686		$	10,826

Property, plant and equipment, net includes $0.9 million and $1.0 million of assets capitalized as finance leases as of March 31, 2024 and December 31, 2023, respectively.

Depreciation expense was $0.3 million for each of the three months ended March 31, 2024 and 2023, respectively.

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31, 2024		December 31, 2023
Accrued research and development	$	6,078	$	3,467
Lease liabilities, current portion		1,696		1,646
Accrued clinical trial		1,598		1,851
Accrued compensation		1,576		3,423
Accrued professional and consulting fees		1,014		330
Warrant liability		791		454
Accrued severance		28		390
Other		781		723
Total accrued expenses and other current liabilities	$	13,562	$	12,284