v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 84,035 $ 35,140
Marketable securities 112,077 30,654
Prepaid expenses and other current assets 3,124 1,450
Restricted cash 114 0
Total current assets 199,350 67,244
Property and equipment, net 164 54
Operating lease right-of-use asset 1,727 318
Deferred offering costs 0 2,739
Other assets 1,398 21
Total assets 202,639 70,376
Current liabilities:    
Accounts payable 4,406 5,711
Accrued liabilities 4,177 12,803
Total current liabilities 8,583 18,514
Operating lease liability, net 1,052 192
Other noncurrent liabilities 83 121
Preferred stock warrants liability 0 871
Total liabilities 9,718 19,698
Commitments and contingencies (Note 6)
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 143,390
Stockholders' deficit:    
Common stock, par value of $0.00001 per share; 300,000,000 and 16,017,929 shares authorized at June 30, 2024 and December 31, 2023, respectively, 25,872,718 and 2,004,783 shares issued at June 30, 2024 and December 31, 2023, respectively, and 25,845,671 and 1,969,360 shares outstanding at June 30, 2024 and December 31, 2023, respectively [1] 0 10
Additional paid-in capital [1] 315,130 2,517
Accumulated deficit [1] (122,147) (95,245)
Accumulated other comprehensive income (loss) [1] (62) 6
Total stockholders’ equity (deficit) 192,921 (92,712) [2]
Total liabilities, convertible preferred and common stock and stockholders’ equity (deficit) 202,639 70,376
Series A Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 44,621 [2]
Series A-1 Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 9,893 [2]
Series B Convertible Preferred Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock 0 82,976
Class B Convertible Common Stock    
Convertible preferred and common stock:    
Total convertible preferred and common stock $ 0 $ 5,900 [2]
[1] Retroactively recast for the reverse recapitalization as described in Note 3.
[2] Retroactively recast for the reverse recapitalization as described in Note 3.