XML 23 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 40,235 $ 53,504
Short-term investments 145,193 23,467
Accounts receivable (including related party amounts of $0 and $569, respectively) 0 1,034
Other receivables (including related party amounts of $0 and $607, respectively) 146 724
Prepaid expenses and other current assets 3,057 1,092
Total current assets 188,631 79,821
Restricted cash 258 258
Property and equipment, net 6,370 8,096
Operating lease right-of-use assets 13,794 16,547
Financing lease right-of-use asset 261  
Other long-term assets 267 392
Total assets 209,581 105,114
Current liabilities:    
Accounts payable (including related party amounts of $276 and $199, respectively) 1,121 614
Accrued expenses (including related party amounts of $713 and $2,161, respectively) 7,392 8,017
Current portion of operating lease liabilities 3,618 3,596
Current portion of financing lease liability 122  
Total current liabilities 12,253 12,227
Operating lease liabilities, net of current portion 10,570 13,316
Financing lease liability, net of current portion 44  
Simple agreements for future equity ("SAFEs") (including related party amounts of $0 and $20,315, respectively)   25,100
Other non-current liabilities 73 73
Total liabilities 22,940 50,716
Commitments and contingencies (Note 11)
Stockholders' equity (deficit):    
Preferred stock, $0.0001 par value; 10,000,000 and zero shares authorized at December 31, 2024 and December 31, 2023 respectively; zero shares issued and outstanding as of December 31, 2024 and December 31, 2023
Common stock, $0.0001 par value; 700,000,000 and 38,998,588 shares authorized at December 31, 2024 and December 31, 2023, respectively; 24,291,607 and 809,758 shares issued and outstanding at December 31, 2024 and December 31, 2023 3
Additional paid-in capital 433,451 18,988
Accumulated other comprehensive gain (loss) (129) 308
Accumulated deficit (246,684) (181,311)
Total stockholders' equity (deficit) 186,641 (162,015)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 209,581 105,114
Series A convertible preferred stock [Member]    
Current liabilities:    
Convertible preferred stock   96,767
Series B convertible preferred stock [Member]    
Current liabilities:    
Convertible preferred stock   $ 119,646