v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 70,433 $ 83,602
Accounts receivable 0 358
German research and development tax credit receivable 1,978 1,978
Prepaid expenses and other current assets 1,336 2,296
Total current assets 73,747 88,234
Total assets 73,747 88,234
Current liabilities:    
Accounts payable 4,557 4,586
Derivative liabilities - contingent value right liability 1,978 1,978
Accrued expenses and other current liabilities 3,081 5,474
Total current liabilities 9,616 12,038
Royalty agreement liability 14,511 11,942
Derivative liabilities - royalty agreement 1,840 1,647
Total liabilities 25,967 25,627
Commitments and Contingencies
Stockholders' deficit:    
Preferred stock, $0.001; 10,000,000 shares authorized; 15,617 shares issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 200,000,000 shares authorized; 11,059,665 and 11,012,105 shares issued and outstanding at June 30, 2025 and December 31, 2024 11 11
Additional paid-in capital 159,271 156,328
Accumulated other comprehensive (loss) income (111) 3
Accumulated deficit (111,391) (93,735)
Total stockholders' equity 47,780 62,607
Total liabilities and stockholders' equity $ 73,747 $ 88,234