Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Revenues: | |||||||||
| Total revenues, net | $ 0 | $ 643 | $ 0 | $ 1,117 | |||||
| Operating expenses: | |||||||||
| Cost of product sales | 343 | 708 | 263 | 1,259 | |||||
| Research and development | 4,601 | 4,658 | 6,716 | 10,667 | |||||
| Acquired in-process research and development | 103 | 0 | 27,641 | 0 | |||||
| General and administrative | 4,528 | 2,427 | 7,721 | 5,134 | |||||
| Total operating expenses | 9,575 | 7,793 | 42,341 | 17,060 | |||||
| Total operating income (loss) | (9,575) | (7,150) | (42,341) | (15,943) | |||||
| Other income (expense): | |||||||||
| Excess of initial warrant fair value over private placement proceeds | 0 | 0 | (79,276) | 0 | |||||
| Change in fair value of warrant liability | 112,046 | 0 | 112,046 | 0 | |||||
| Private placement transaction costs | 0 | 0 | (9,220) | 0 | |||||
| Change in fair value of derivative liability | (5,040) | (40) | (5,160) | (220) | |||||
| Interest income (expense), net | 1,039 | (996) | 1,138 | (1,945) | |||||
| Other expense, net | 0 | 0 | 0 | (25) | |||||
| Total other income (expense), net | 108,045 | (1,036) | 19,528 | (2,190) | |||||
| Income (loss) before taxes | 98,470 | (8,186) | (22,813) | (18,133) | |||||
| Income tax expense | 7 | 7 | 14 | 15 | |||||
| Net income (loss) | $ 98,463 | $ (8,193) | $ (22,827) | $ (18,148) | |||||
| Net loss per share of common stock, basic (in dollars per share) | $ 4.21 | [1] | $ (140.73) | [1] | $ (24.11) | [1] | $ (338.85) | ||
| Net loss per share of common stock, diluted (in dollars per share) | [1] | $ (14.07) | $ (140.73) | $ (30.63) | $ (338.85) | ||||
| Product revenue, net | |||||||||
| Revenues: | |||||||||
| Total revenues, net | $ 0 | $ 643 | $ 0 | $ 1,117 | |||||
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- Definition Acquired In Process Research And Development No definition available.
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- Definition Excess of Initial Warrant Fair Value Over Private Placement Proceeds No definition available.
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- Definition Private Placement Transaction Costs No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) recognized in income from derivative asset (liability) after deduction of derivative liability (asset), measured at fair value on recurring basis using unobservable input (level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income (expense) classified as nonoperating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for research and development. Excludes cost for computer software product to be sold, leased, or otherwise marketed, writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both, and write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Details
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