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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 121,587 $ 270,852
Marketable securities 83,117 0
Receivable from former parent 1,005 5,548
Prepaid expenses 6,722 150
Other current assets 628 787
Total current assets 213,059 277,337
Property and equipment, net 9,713 11,403
Right-of-use assets 10,126 12,747
Restricted cash 1,969 258
Other assets 61 0
TOTAL ASSETS 234,928 301,745
CURRENT LIABILITIES:    
Accounts payable 3,108 5,973
Accrued expenses 16,167 16,946
Operating lease liabilities-short-term 5,350 6,098
Total current liabilities 24,625 29,017
Operating lease liabilities-long-term 5,730 8,911
Total liabilities 30,355 37,928
Commitments and contingencies (Note 10)
Preferred shares, nominal value $0.01; 50,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued or outstanding at June 30, 2024 or December 31, 2023 0 0
Ordinary shares, nominal value $0.01; 450,000,000 ordinary shares authorized at June 30, 2024 and December 31, 2023; 16,927,110 and 16,689,740 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 169 167
Additional paid-in capital 297,796 294,507
Unrealized loss on marketable securities (54) 0
Accumulated deficit (93,338) (30,857)
Total equity 204,573 263,817
TOTAL LIABILITIES AND EQUITY $ 234,928 $ 301,745