Balance Sheet

v3.25.1

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 18,352	$ 20,654
R&D tax credit incentive receivable	253
Prepaid expenses and other current assets	1,837	2,408
Total current assets	20,442	23,062
Property and equipment, net	1,693	1,729
Operating lease right-of-use assets, net	17,957	19,616
Restricted cash	1,338	1,338
Deposits and other assets	131	52
TOTAL ASSETS	41,561	45,797
CURRENT LIABILITIES:
Accounts payable	817	542
Accrued expenses	1,803	1,727
Litigation accrual	1,675	1,675
Accrued compensation expense	343	396
Lease liability, current portion	1,348	1,383
Total current liabilities	5,986	5,723
Lease liability, noncurrent portion	17,965	19,313
TOTAL LIABILITIES	23,951	25,036
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: 59,235 and 51,031 as of December 31, 2024 and 2023, respectively	6	5
Additional paid-in capital	139,480	119,054
Accumulated other comprehensive gain	48	140
Accumulated deficit	(121,924)	(98,438)
TOTAL STOCKHOLDERS' EQUITY	17,610	20,761
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 41,561	$ 45,797

- 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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