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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 24,393 $ 15,668
Short-term investments 71,783 39,983
Prepaid expenses and other current assets 5,847 1,692
Total current assets 102,023 57,343
Property and equipment, net 634 735
Operating lease right-of-use asset 1,579 2,203
Total assets 104,236 60,281
Current liabilities:    
Accounts payable 334 239
Accrued liabilities 2,951 3,549
Current portion of operating lease liability 741 600
Total current liabilities 4,026 4,388
Unvested stock liability 27 109
Warrant liability   184
Operating lease liability, net of current portion 1,007 1,748
Long-term debt, net of debt discount 9,372 9,099
Other long-term liabilities 525 525
Commitments and contingencies (Note 3)
Convertible preferred stock, $0.0001 par value; authorized shares – 10,000,000 and 85,683,310 at December 31, 2020 and 2019, respectively; issued and outstanding shares – none and 85,093,688 at December 31, 2020 and 2019, respectively; Liquidation preference – none and $123,100 at December 31, 2020 and 2019, respectively.   122,465
Stockholders’ equity (deficit):    
Common stock, $0.0001 par value; authorized shares – 200,000,000 and 111,098,749 at December 31, 2020 and 2019, respectively; issued shares – 26,005,934 and 2,682,397 at December 31, 2020 and 2019, respectively; outstanding shares – 25,969,442 and 2,484,848 at December 31, 2020 and 2019, respectively. 3  
Additional paid-in-capital 210,021 5,164
Accumulated other comprehensive income 1 41
Accumulated deficit (120,746) (83,442)
Total stockholders’ equity (deficit) 89,279 (78,237)
Total liabilities, convertible preferred stock, and stockholders’ equity (deficit) $ 104,236 $ 60,281