v3.24.3
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (13,087) $ (7,366)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of discount on convertible notes 0 159
Change in carrying value of right-of-use asset 19 141
Stock-based compensation expense 2,229 975
Stock issued in exchange for services 25 0
Loss on debt extinguishment 0 2,262
Changes in operating assets and liabilities, net:    
Accrued interest on marketable debt securities (134) (111)
Prepaid expenses, other current assets, and other assets 96 (709)
Accounts payable, accrued expenses and other liabilities (1,700) (1,610)
Net cash used in operating activities (12,552) (6,259)
Cash flows from investing activities:    
Purchase of marketable debt securities (3,056) (8,844)
Redemption of marketable debt securities 9,410 0
Net cash provided by (used in) investing activities 6,354 (8,844)
Cash flows from financing activities:    
Proceeds from issuance of convertible note 0 243
Proceeds from ATM offering 232 0
Issuance costs related to ATM offering (82) 0
Proceeds from Initial Public Offering and overallotment 0 22,425
Issuance costs related to Initial Public Offering and overallotment 0 (2,233)
Proceeds from exercise of warrants and options 274 50
Net cash provided by financing activities 424 20,485
Net (decrease) increase in cash and cash equivalents (5,774) 5,382
Cash and cash equivalents at beginning of period 2,782 6,694
Cash and cash equivalents at end of period 8,556 1,312
Supplemental disclosure of non-cash financing activities:    
Common stock issued 51 4,737
Right-of-use lease asset and operating lease liability 0 155
Warrants issued in relation to issuance of convertible notes 0 159
Warrants issued to underwriter in connection with stock issuance 0 1,170
Preferred stock deemed dividend $ 0 $ 1,324

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