XML 15 R5.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity (unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Series A Convertible Preferred Stock
Beginning balance (in shares) at Dec. 31, 2022           27,125,000
Beginning balance at Dec. 31, 2022           $ 27,125
Ending balance at Mar. 31, 2023           $ 27,125
Ending balance (in shares) at Mar. 31, 2023           27,125,000
Beginning balance (in shares) at Dec. 31, 2022 [1]   867,499        
Beginning balance at Dec. 31, 2022 $ (19,732) $ 0 $ 195 $ 0 $ (19,927)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation expense 393   393      
Net loss (7,502)       (7,502)  
Ending balance at Mar. 31, 2023 (26,841) $ 0 588 0 (27,429)  
Ending balance (in shares) at Mar. 31, 2023 [1]   867,499        
Beginning balance (in shares) at Dec. 31, 2022           27,125,000
Beginning balance at Dec. 31, 2022           $ 27,125
Ending balance at Sep. 30, 2023           $ 127,772
Ending balance (in shares) at Sep. 30, 2023           128,148,529
Beginning balance (in shares) at Dec. 31, 2022 [1]   867,499        
Beginning balance at Dec. 31, 2022 $ (19,732) $ 0 195 0 (19,927)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock from exercise of stock options, including early exercises (in shares) 1,800,000          
Unrealized gain on investments $ 0          
Net loss (29,222)          
Ending balance at Sep. 30, 2023 (47,407) $ 0 1,742 0 (49,149)  
Ending balance (in shares) at Sep. 30, 2023   1,562,641        
Beginning balance (in shares) at Mar. 31, 2023           27,125,000
Beginning balance at Mar. 31, 2023           $ 27,125
Increase (Decrease) in Temporary Equity [Roll Forward]            
Issuance of Series A convertible preferred units, net of issuance costs (in shares)           92,200,000
Issuance of Series A convertible preferred stock, net of issuance costs           $ 91,823
Issuance of Series A convertible preferred stock pursuant to anti-dilution provision of license agreement with Pfizer Inc. (in shares)           8,823,529
Issuance of Series A convertible preferred stock pursuant to anti-dilution provision of the Pfizer License Agreement           $ 8,824
Ending balance at Jun. 30, 2023           $ 127,772
Ending balance (in shares) at Jun. 30, 2023           128,148,529
Beginning balance (in shares) at Mar. 31, 2023 [1]   867,499        
Beginning balance at Mar. 31, 2023 (26,841) $ 0 588 0 (27,429)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation expense 416   416      
Issuance of common stock from exercise of stock options, including early exercises (in shares) [1]   695,142        
Issuance of common stock from exercise of stock options, including early exercises 7   7      
Vesting of early exercised stock options 18   18      
Net loss (16,129)       (16,129)  
Ending balance at Jun. 30, 2023 (42,529) $ 0 1,029 0 (43,558)  
Ending balance (in shares) at Jun. 30, 2023 [1]   1,562,641        
Ending balance at Sep. 30, 2023           $ 127,772
Ending balance (in shares) at Sep. 30, 2023           128,148,529
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation expense $ 706   706      
Issuance of common stock from exercise of stock options, including early exercises (in shares) 0          
Vesting of early exercised stock options $ 7   7      
Unrealized gain on investments 0          
Net loss (5,591)       (5,591)  
Ending balance at Sep. 30, 2023 $ (47,407) $ 0 1,742 0 (49,149)  
Ending balance (in shares) at Sep. 30, 2023   1,562,641        
Beginning balance (in shares) at Dec. 31, 2023           0
Beginning balance at Dec. 31, 2023           $ 0
Ending balance at Mar. 31, 2024           $ 0
Ending balance (in shares) at Mar. 31, 2024           0
Beginning balance (in shares) at Dec. 31, 2023 20,337,571 20,337,571        
Beginning balance at Dec. 31, 2023 $ 205,042 $ 2 267,024 67 (62,051)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock from public offering, net of issuance costs (in shares)   5,307,691        
Issuance of common stock from public offering, net of issuance costs 161,353 $ 1 161,352      
Stock-based compensation expense 1,388   1,388      
Vesting of early exercised stock options 7   7      
Issuance of common stock upon vesting of restricted stock units (in shares)   1,247        
Unrealized gain on investments (320)     (320)    
Net loss (13,311)       (13,311)  
Ending balance at Mar. 31, 2024 $ 354,159 $ 3 429,771 (253) (75,362)  
Ending balance (in shares) at Mar. 31, 2024   25,646,509        
Beginning balance (in shares) at Dec. 31, 2023           0
Beginning balance at Dec. 31, 2023           $ 0
Ending balance at Sep. 30, 2024           $ 0
Ending balance (in shares) at Sep. 30, 2024           0
Beginning balance (in shares) at Dec. 31, 2023 20,337,571 20,337,571        
Beginning balance at Dec. 31, 2023 $ 205,042 $ 2 267,024 67 (62,051)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock from exercise of stock options, including early exercises (in shares) 0          
Unrealized gain on investments $ 754          
Net loss (50,975)          
Ending balance at Sep. 30, 2024 $ 321,068 $ 3 433,270 821 (113,026)  
Ending balance (in shares) at Sep. 30, 2024 25,642,610 25,642,610        
Beginning balance (in shares) at Mar. 31, 2024           0
Beginning balance at Mar. 31, 2024           $ 0
Ending balance at Jun. 30, 2024           $ 0
Ending balance (in shares) at Jun. 30, 2024           0
Beginning balance (in shares) at Mar. 31, 2024   25,646,509        
Beginning balance at Mar. 31, 2024 $ 354,159 $ 3 429,771 (253) (75,362)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation expense 1,789   1,789      
Vesting of early exercised stock options 20   20      
Issuance of common stock upon vesting of restricted stock units (in shares)   1,246        
Unrealized gain on investments (199)     (199)    
Net loss (17,487)       (17,487)  
Ending balance at Jun. 30, 2024 338,282 $ 3 431,580 (452) (92,849)  
Ending balance (in shares) at Jun. 30, 2024   25,647,755        
Ending balance at Sep. 30, 2024           $ 0
Ending balance (in shares) at Sep. 30, 2024           0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation expense $ 1,681   1,681      
Issuance of common stock from exercise of stock options, including early exercises (in shares) 0          
Vesting of early exercised stock options $ 9   9      
Repurchase of common stock (in shares)   (6,392)        
Issuance of common stock upon vesting of restricted stock units (in shares)   1,247        
Unrealized gain on investments 1,273     1,273    
Net loss (20,177)       (20,177)  
Ending balance at Sep. 30, 2024 $ 321,068 $ 3 $ 433,270 $ 821 $ (113,026)  
Ending balance (in shares) at Sep. 30, 2024 25,642,610 25,642,610        
[1]
* Amounts have been restated for the impact of the reverse merger outlined further within Notes 1 and 3.