Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 125,046 $ 134,546
Prepaid expenses and other current assets 1,833 4,325
Restricted cash, current portion 62 19
Total current assets 126,941 138,890
Property and equipment, net 949 1,209
Goodwill 10,502 10,502
Restricted cash, net of current portion 131 131
Total assets 138,523 150,732
Current liabilities:    
Accounts payable 681 283
Accrued expenses and other current liabilities 4,574 6,317
Derivative liability, current 360 360
Total current liabilities 5,615 6,960
Royalty obligation 2,000 2,000
Deferred tax liability, net 278 270
Derivative liability, non-current 7,740 8,120
Other long-term liabilities 275 350
Total liabilities 15,908 17,700
Mezzanine equity:    
Temporary equity, values issued 0 0
Stockholders’ equity:    
Common stock—$0.001 par value; 200,000,000 shares authorized at March 31, 2025 and December 31, 2024; 10,827,620 and 10,471,934 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 11 10
Additional paid-in capital 506,016 503,285
Accumulated deficit (383,412) (370,263)
Total stockholders’ equity 122,615 133,032
Total liabilities, mezzanine equity and stockholders’ equity 138,523 150,732
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 shares of Series C Preferred Stock authorized at March 31, 2025 and December 31, 2024; 24,696 and 24,896 shares of Series C Preferred Stock issued and outstanding at March 31, 2025 and December 31, 2024, respectively $ 0 $ 0