Balance Sheet Components

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Prepaid expenses and other current assets consist of the following (amounts in thousands):

	September 30, 2023		December 31, 2022
Research and development expenses	$	15,057	$	11,321
Insurance related expenses	2,805		2,788
Value added tax receivable	1,932		2,557
Other	2,859		3,271
	$	22,653	$	19,937

Accrued expenses and other current liabilities consist of the following (amounts in thousands):

	September 30, 2023		December 31, 2022
Research and development expenses	$	16,509	$	10,795
Personnel related expenses	5,237		7,264
Professional fees	1,719		4,171
Income tax liability	—		1,582
Operating lease liabilities	482		—
Other	159		690
	$	24,106	$	24,502

Property and equipment, net consisted of the following (amounts in thousands):

	September 30, 2023		December 31, 2022
Computer equipment	$	706	$	442
Office furniture	724		—
Other	44		890
Property and equipment, at cost	1,474		1,332
Less: Accumulated depreciation	(372)		(164)
Property and equipment, net	$	1,102	$	1,168

The following table provides a reconciliation of current period changes, net of applicable income taxes, for unrealized gains on available for sale securities presented in accumulated other comprehensive income (amounts in thousands):

	Three Months Ended September 30, 2023
Beginning balance	$	783
Current period increase in fair value, net of tax of $0.3 million	999
Reclassifications to net loss, net of tax of $0.2 million	(746)
Ending balance	$	1,036