Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 134,546 $ 7,415
Other receivables 611 136
Prepaid expenses and other current assets 3,714 843
Restricted cash, current portion 19 1
Total current assets 138,890 8,395
Property and equipment, net 1,209 1,965
Goodwill 10,502 10,502
Restricted cash, net of current portion 131 131
Total assets 150,732 20,993
Current liabilities:    
Accounts payable 283 446
Accrued expenses and other current liabilities 6,317 4,172
Derivative liability, current 360 0
Total current liabilities 6,960 4,618
Royalty obligation 2,000 2,000
Deferred tax liability, net 270 155
Derivative liability, non-current 8,120 5,550
Other long-term liabilities 350 1,366
Total liabilities 17,700 13,689
Mezzanine equity:    
Temporary equity, values issued 0 0
Stockholders’ equity:    
Common stock—$0.001 par value; 200,000,000 shares authorized at December 31, 2024 and 2023; 10,471,934 and 801,746 shares issued and outstanding at December 31, 2024 and 2023, respectively 10 1
Additional paid-in capital 503,285 342,437
Accumulated deficit (370,263) (335,134)
Total stockholders’ equity 133,032 7,304
Total liabilities, mezzanine equity and stockholders’ equity 150,732 20,993
Series D Preferred Stock    
Mezzanine equity:    
Temporary equity, values issued 0 0
Series E Preferred Stock    
Mezzanine equity:    
Temporary equity, values issued 0 0
Series C Preferred Stock    
Stockholders’ equity:    
Series C Preferred Stock—$0.001 par value; 34,326 and 0 shares of Series C Preferred Stock authorized at December 31, 2024 and 2023, respectively, 24,896 and 0 shares of Series C Preferred Stock issued and outstanding at December 31, 2024 and 2023, respectively $ 0 $ 0