Balance Sheet Components

6 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Note 4—Balance Sheet Components

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


	June 30, 2024		December 31, 2023
Prepaid research and development	$	1,502	$	1,412
Prepaid clinical trial		674		802
Deferred offering costs		601		681
Prepaid insurance		165		292
Prepaid bonus		130		—
Other		206		292
Total prepaid expenses and other current assets	$	3,278	$	3,479

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


	June 30, 2024			December 31, 2023
Leasehold improvements	$	2,117		$	2,117
Laboratory equipment		3,008			2,868
Computer equipment		1,271			1,133
Furniture and fixtures		864			864
Construction in progress		6,882			6,823
		14,142			13,805
Accumulated depreciation		(3,629	)		(2,979	)
Property, plant and equipment, net	$	10,513		$	10,826

Property, plant and equipment, net includes $0.8 million and $1.0 million of assets capitalized as finance leases as of June 30, 2024 and December 31, 2023, respectively.

Depreciation expense was $0.3 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively. Depreciation expense was $0.6 million and $0.7 million for the six months ended June 30, 2024 and 2023, respectively.

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


	June 30, 2024		December 31, 2023
Accrued research and development	$	2,613	$	3,467
Accrued compensation		2,885		3,423
Accrued clinical trial		2,178		1,851
Lease liabilities, current portion		1,754		1,646
Accrued professional and consulting fees		1,072		330
Warrant liability		596		454
Accrued severance		—		390
Other		777		723
Total accrued expenses and other current liabilities	$	11,875	$	12,284