v3.25.2
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 5,230 $ 8,289
Subscription receivable 0 635
Prepaid expenses and other current assets 717 1,077
Total current assets 5,947 10,001
Other assets 101 100
Total assets 6,048 10,101
Current liabilities:    
Accounts payable 202 1,275
Accrued expenses 145 391
Total current liabilities 347 1,666
Royalty purchase liability 151,049 151,049
Warrant liability 0 1,055
Total liabilities 151,396 153,770
Commitments and contingencies (Note 10)
Stockholders' deficit:    
Common stock, $0.001 par value: 200,000,000 shares authorized; 75,462,390 shares issued and outstanding at June 30, 2025 and December 31, 2024 75 75
Additional paid-in capital 311,010 308,247
Accumulated deficit (459,030) (456,363)
Total stockholders' deficit (147,945) (148,041)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 6,048 10,101
Series B Redeemable Convertible Preferred Stock [Member]    
Stockholders' deficit:    
Series B redeemable convertible preferred stock, $0.001 par value: 10,000,000 shares authorized; 119,318 shares issued and outstanding at June 30, 2025 and December 31, 2024 $ 2,597 $ 4,372