Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 75,626 $ 83,602
Accounts receivable 0 358
German research and development tax credit receivable 1,978 1,978
Prepaid expenses and other current assets 1,835 2,296
Total current assets 79,439 88,234
Total assets 79,439 88,234
Current liabilities:    
Accounts payable 4,441 4,586
Derivative liabilities - contingent value right liability 1,978 1,978
Accrued expenses and other current liabilities 2,564 5,474
Total current liabilities 8,983 12,038
Royalty agreement liability 13,157 11,942
Derivative liabilities - royalty agreement 1,722 1,647
Total liabilities 23,862 25,627
Commitments and Contingencies
Stockholders' deficit:    
Preferred stock, $0.001; 10,000,000 shares authorized; 15,617 shares issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 200,000,000 shares authorized; 11,021,389 and 11,012,105 shares issued and outstanding at March 31, 2025 and December 31, 2024 11 11
Additional paid-in capital 157,489 156,328
Accumulated other comprehensive (loss) income (3) 3
Accumulated deficit (101,920) (93,735)
Total stockholders' equity 55,577 62,607
Total liabilities and stockholders' equity $ 79,439 $ 88,234