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Condensed Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 251,964 $ 129,159
Short-term investments 288,205 167,087
Prepaid expenses and other current assets 4,817 3,791
Total current assets 544,986 300,037
Property and equipment, net 49,696 15,084
Restricted cash 339 339
Right-of-use assets 8,484 9,308
Other assets 8 8
Total assets 603,513 324,776
Current liabilities:    
Accounts payable 2,237 2,623
Accrued liabilities 13,610 6,691
Current portion of operating lease liabilities 1,266 1,144
Total current liabilities 17,113 10,458
Unvested stock liability 2,620 929
Operating lease liabilities, net of current portion 8,458 9,425
Commitments and contingencies (Note 3)
Convertible preferred stock, $0.0001 par value; authorized shares – no shares and 179,639,650 at September 30, 2023 and December 31, 2022, respectively; issued and outstanding shares – no shares and 34,942,503 at September 30, 2023 and December 31, 2022, respectively; liquidation preference $0 and $397,755 at September 30, 2023 and December 31, 2022, respectively 0 415,258
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized – no shares issued and outstanding 0 0
Common stock, $0.0001 par value; authorized shares – 700,000,000 and 246,500,000 at September 30, 2023 and December 31, 2022, respectively; issued shares – 61,047,189 and 5,515,050 at September 30, 2023 and December 31, 2022, respectively; outstanding shares – 59,826,184 and 4,532,751 at September 30, 2023 and December 31, 2022, respectively 6 1
Additional paid-in capital 755,829 19,374
Accumulated other comprehensive loss (386) (553)
Accumulated deficit (180,127) (130,116)
Total stockholders’ equity (deficit) 575,322 (111,294)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) $ 603,513 $ 324,776
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0