Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 15,936 $ 23,357
Short-term investments 68,219 74,363
Restricted cash 338 338
Other receivables 1,617 1,652
Prepaid expenses and other current assets 2,011 1,143
Total current assets 88,121 100,853
Property and equipment, net 6,947 4,430
Operating lease right-of-use assets 4,239 3,552
Other assets 57 96
Total assets 99,364 108,931
Current liabilities:    
Accounts payable 5,018 3,441
Accrued expenses 3,887 6,333
Current portion of long-term debt 8,148 5,926
Current portion of operating lease liability 613 823
Other current liabilities 317 64
Total current liabilities 17,983 16,587
Long-term operating lease liabilities 4,078 3,262
Long-term debt 11,138 13,037
Warrant liabilities 24,769 32,014
Total liabilities 57,968 64,900
Commitments and contingencies
Stockholders’ equity:    
Preferred stock - $0.01 par value; authorized 2,000,000 shares; No shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively
Common stock - $0.01 par value; authorized 200,000,000 shares; 48,953,171 and 45,644,091 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 490 457
Additional paid-in capital 866,260 856,824
Accumulated deficit (825,287) (813,258)
Accumulated other comprehensive loss (67) 8
Total stockholders’ equity 41,396 44,031
Total liabilities and stockholders’ equity $ 99,364 $ 108,931