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CONDENSED CONSOLIDATED BALANCE SHEETS
$ in Thousands
3 Months Ended 5 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jun. 30, 2024
USD ($)
Current assets:      
Cash and cash equivalents $ 3,442 $ 5,158 $ 3,442
Prepaid expenses and other current assets 577 1,064 577
Total current assets 4,019 6,222 4,019
Property and equipment, net 282 332 282
Operating lease right-of-use asset 1,404 262 1,404
Other assets 29 29 29
Total assets 5,734 6,845 5,734
Current liabilities:      
Accounts payable 3,030 3,388 3,030
Accrued clinical trials expenses 2,333 5,128 2,333
Accrued compensation 1,248 943 1,248
Other accrued expenses 3,818 3,590 3,818
Total current liabilities 10,429 13,049 10,429
Convertible notes at fair value, including related party amount of $13,292 and $0, at June 30, 2024 and December 31, 2023, respectively 13,292   13,292
Operating lease liability 1,262   1,262
Warrant liability 1,467 1,447 1,467
Contingent consideration liability 6,886 104,350 6,886
Embedded forward purchase agreements and derivative liabilities 345 41,043 345
Total liabilities 33,681 159,889 33,681
Commitments and contingencies
Stockholders' Deficit:      
Class A common stock, $0.0001 par value; 500,000,000 shares authorized at June 30, 2024 and December 31, 2023, and 39,122,238 and 37,159,600 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 4 4 4
Additional paid-in capital 399,557 381,264 399,557
Subscription receivables   (60,710)  
Accumulated deficit (427,508) (473,602) (427,508)
Total stockholders' deficit (27,947) (153,044) (27,947)
Total liabilities and stockholders' deficit $ 5,734 $ 6,845 $ 5,734
Financial Designation, Predecessor and Successor [Fixed List] Successor Successor Successor