Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 193,238,000 $ 81,607,000
Short-term investments 48,011,000 24,940,000
Prepaid expenses and other current assets 3,241,000 2,287,000
Total current assets 244,490,000 108,834,000
Property and equipment, net 2,541,000 2,578,000
Operating lease right-of-use assets 4,910,000 4,991,000
Other assets 1,709,000 565,000
Total Assets 253,650,000 116,968,000
Current liabilities:    
Accounts payable 4,547,000 2,463,000
Accrued and other current liabilities 7,887,000 4,847,000
Operating lease liabilities, current portion 3,560,000 2,179,000
Total current liabilities 15,994,000 9,489,000
Operating lease liabilities, net of current portion 1,458,000 2,959,000
Total Liabilities 17,452,000 12,448,000
Commitments and contingencies (see Notes 6 and 7)
Stockholders’ equity:    
Preferred stock, $0.00001 par value: 10,000,000 shares authorized as of December 31, 2023 and 2022; no shares issued or outstanding at December 31, 2023 or 2022 0 0
Voting and non-voting common stock, $0.00001 par value: 150,000,000 (143,590,481 voting and 6,409,519 non-voting) shares authorized as of December 31, 2023 and December 31, 2022; 47,823,232 (46,378,937 voting and 1,444,295 non-voting) shares issued and outstanding as of December 31, 2023 and 29,445,134 (27,584,375 voting and 1,860,759 non-voting) shares issued and outstanding as of December 31, 2022 0 0
Additional paid-in capital 469,396,000 270,129,000
Accumulated other comprehensive income (loss) 39,000 (47,000)
Accumulated deficit (233,237,000) (165,562,000)
Total stockholders’ equity 236,198,000 104,520,000
Total liabilities and stockholders’ equity $ 253,650,000 $ 116,968,000