v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 21,511 $ 30,268
Prepaid expenses and other current assets 922 1,206
Total current assets 22,433 31,474
Property and equipment-net 817 886
Operating lease right-of-use assets 8,376 8,643
Other noncurrent assets 538 485
Total assets 32,164 41,488
Current liabilities:    
Accounts payable 2,187 2,450
Accrued expenses 4,985 2,726
Current loan payable (net of discount and issuance costs of $38 and $74, respectively) 4,190 6,354
Current operating lease liabilities 1,061 869
Accrued compensation 718 1,762
Interest payable 36 59
Total current liabilities 13,177 14,220
Operating lease liabilities, less current portion 7,854 8,142
Total liabilities 21,031 22,362
Commitments and contingencies (Note 5)
Stockholders' equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 3,519,602 and 3,382,432 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively [1] 4 3
Additional paid-in capital 229,095 226,229
Accumulated deficit (217,966) (207,106)
Total stockholders’ equity 11,133 19,126
Total liabilities and stockholders’ equity $ 32,164 $ 41,488
[1] Results, including shares issued and outstanding have been adjusted to reflect the one-for-thirteen stock split effected in April 2025. See Note 1, Organization and Description of the Business, for details.