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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 90,390 $ 34,565
Accounts receivable 2,317 2,039
Accounts receivable - related party 252 502
Prepaid expenses and other current assets 1,276 1,826
Total current assets 94,235 38,932
Property and equipment, net 176 562
Operating lease right-of-use assets 6,900 7,801
Restricted cash 688 688
Warrant asset 615 153
Other assets 82 331
Total assets 102,696 48,467
Current liabilities:    
Accounts payable 354 306
Accrued and other liabilities 4,191 5,180
Lease liabilities, current portion 1,198 1,829
Total current liabilities 5,743 7,315
Lease liabilities, noncurrent portion 6,316 6,640
Tranche liability 10,903 0
Warrant liabilities 32,620 55,892
Total liabilities 55,582 69,847
Commitments and contingencies (Note 7)
Stockholders' equity (deficit):    
Preferred stock, $0.0001 par value, 10,000 shares authorized; no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value, 500,000 shares authorized as of June 30, 2025 and December 31, 2024; 8,570 and 3,262 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1 0
Additional paid-in-capital 319,596 263,879
Accumulated deficit (272,483) (285,259)
Total stockholders' equity (deficit) 47,114 (21,380)
Total liabilities and stockholders' equity $ 102,696 $ 48,467