Balance Sheet

v3.25.1

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 13,008	$ 18,352
R&D tax credit incentive receivable	175	253
Prepaid expenses and other current assets	1,667	1,837
Total current assets	14,850	20,442
Property and equipment, net	1,609	1,693
Operating lease right-of-use assets, net	17,523	17,957
Restricted cash	1,338	1,338
Deposits and other assets	132	131
TOTAL ASSETS	35,452	41,561
CURRENT LIABILITIES:
Accounts payable	1,004	817
Accrued expenses	1,859	1,803
Litigation accrual	1,675	1,675
Accrued compensation expense	350	343
Lease liability, current portion	1,311	1,348
Total current liabilities	6,199	5,986
Lease liability, noncurrent portion	17,629	17,965
TOTAL LIABILITIES	23,828	23,951
Stockholders’ equity:
Preferred stock, par value $0.0001 per share; 10,000 shares authorized; none outstanding
Common stock, par value $0.0001 per share; 300,000 shares authorized; shares issued and outstanding: 59,244 and 59,235 at March 31, 2025 and December 31, 2024, respectively	6	6
Additional paid-in capital	139,802	139,480
Accumulated other comprehensive income	42	48
Accumulated deficit	(128,226)	(121,924)
TOTAL STOCKHOLDERS' EQUITY	11,624	17,610
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 35,452	$ 41,561

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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