Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.25.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating expenses:    
Cost of product sales $ 0 $ (80)
Research and development 9,123 2,116
General and administrative 5,546 3,193
Acquired in-process research and development 0 27,538
Total operating expenses 14,669 32,767
Loss from operations (14,669) (32,767)
Other income (expense):    
Change in fair value of derivative liability 380 (120)
Interest income, net 1,148 100
Excess of initial warrant fair value over private placement proceeds 0 (79,276)
Private placement transaction costs 0 (9,220)
Total other income (expense), net 1,528 (88,516)
Loss before taxes (13,141) (121,283)
Income tax expense 8 7
Net loss and comprehensive loss (13,149) (121,290)
Net loss and comprehensive loss $ (13,149) $ (121,290)
Weighted average common shares outstanding, basic (in shares) 10,514,901 859,381
Weighted average common shares outstanding, diluted (in shares) 10,514,901 859,381
Net loss per share of common stock, basic (in dollars per share) $ (1.25) $ (141.14)
Net loss per share of common stock, diluted (in dollars per share) $ (1.25) $ (141.14)