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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 30,036 $ 42,649
Accounts receivable, net of allowance for credit loss of $nil 112 0
Prepaid expenses and other current assets 11,598 1,519
Marketable securities 519,099 568,564
Interest receivable on marketable securities 4,140 3,702
Total current assets 564,985 616,434
Property and equipment, net of accumulated depreciation of $839 and $666, respectively 719 717
Intangible assets, net of accumulated amortization of $291 2,779 0
Lease security deposit 144 141
Operating lease right-of-use assets 2,472 3,605
Other non-current assets 480 587
Total assets 571,579 621,484
Current liabilities:    
Accounts payable 12,380 2,209
Current operating lease liabilities 1,781 1,972
Contract liabilities, current portion 12,942 0
Short-term borrowings 8,426 0
Accrued expenses 23,506 9,793
Total current liabilities 59,035 13,974
Warrant liability 908 353
Contract liabilities, net of current portion 7,937 0
Non-current operating lease liabilities 985 2,035
Total liabilities 68,865 16,362
Commitments and contingencies (Note 12)
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 September 30, 2024 and December 31, 2023, respectively, 336,248,642 (Class A 335,248,642, 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 September 30, 2024 and December 31, 2023, respectively 1,362,631 947,745
Accumulated deficit (861,298) (342,804)
Accumulated other comprehensive (loss) income 1,381 181
Total stockholders' equity 502,714 605,122
Total liabilities and stockholders' equity $ 571,579 $ 621,484