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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 34,285 $ 42,649
Accounts receivable, net of allowance for credit loss of $nil 117 0
Prepaid expenses and other current assets 5,991 1,519
Marketable securities 542,884 568,564
Interest receivable on marketable securities 3,895 3,702
Total current assets 587,172 616,434
Property and equipment, net of accumulated depreciation of $782 and $666, respectively 751 717
Intangible assets, net of amortization of $138 2,932 0
Lease security deposit 143 141
Operating lease right-of-use assets 2,723 3,605
Other non-current assets 1,075 587
Total assets 594,796 621,484
Current liabilities:    
Accounts payable 5,211 2,209
Current operating lease liabilities 2,076 1,972
Contract liabilities, current portion 12,200 0
Short-term borrowings 11,634 0
Accrued expenses 19,974 9,793
Total current liabilities 51,095 13,974
Warrant liability 1,441 353
Contract liabilities, net of current portion 9,157 0
Non-current operating lease liabilities 972 2,035
Total liabilities 62,665 16,362
Commitments and contingencies (Note 12)
Mezzanine equity;    
Class A convertible preferred stock, $.0001 par value per share; 851,202 shares issued and outstanding as of June 30, 2024. 274,938 0
Total Mezzanine Equity, Total 274,938 0
Stockholders' equity    
Class A and Class B common stock and additional paid in capital, $0.0001 par value per share; 1,060,000,000 (Class A 1,000,000,000, Class B 60,000,000) shares authorized as of June 30, 2024 and December 31, 2023, 248,624,729 (Class A 247,624,729, Class B 1,000,000) and 219,046,219 (Class A 218,046,219, Class B 1,000,000) shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 1,078,547 947,745
Accumulated deficit (820,088) (342,804)
Accumulated other comprehensive (loss) income (1,266) 181
Total stockholders' equity 257,193 605,122
Total liabilities, mezzanine equity and stockholders' equity $ 594,796 $ 621,484