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Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (52,850) $ (35,583)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 75 64
Stock-based compensation 3,603 1,096
Change in fair value of contingent value right liability 1,500 0
Change in fair value of derivative liability 0 3,450
Noncash lease expense 180 129
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 341 (1,689)
Other assets 0 64
Accounts payable (7,710) 600
Accrued expenses (717) (472)
Operating lease liabilities (88) (246)
Net cash used in operating activities (55,666) (32,587)
Cash flows from investing activities:    
Purchase of property and equipment (86) (139)
Net cash used in investing activities (86) (139)
Cash flows from financing activities:    
Proceeds from sale of common stock in offerings, net of issuance costs paid 192,126 0
Proceeds from sale of pre-funded warrants in offerings, net of issuance costs paid 37,579 0
Proceeds from stock option exercises 1,916 163
Net cash provided by financing activities 231,621 163
Net increase (decrease) in cash, cash equivalents and restricted cash 175,869 (32,563)
Cash, cash equivalents and restricted cash, beginning of period 194,788 88,213
Cash, cash equivalents and restricted cash, end of period 370,657 55,650
Supplemental cash flow information    
Cash paid for income taxes 78 0
Supplemental disclosure of non-cash activities    
Purchases of property and equipment included in accounts payable and accrued expenses 4 0
Right-of-use assets obtained in exchange for new operating lease liabilities 1,106 0
Decrease in right-of-use assets related to lease modifications 422 0
Decrease in operating lease liabilities due to lease modifications 392 0
Deferred issuance costs on sale of common stock and pre-funded warrants in offerings included in accounts payable and accrued expenses $ 215 $ 288