Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (20,840)	$ (54,225)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense	2,038	2,636
Depreciation and amortization	189	69
Gain on disposal of assets	3	0
In-process research and development expenses	0	30,393
Amortization/accretion on marketable securities	(960)	788
Changes in operating assets and liabilities:
Prepaid and other current assets	(824)	(845)
Other assets	274	237
Accounts payable, accrued liabilities and other liabilities	88	(223)
Net cash used in operating activities	(20,032)	(21,170)
Cash flows from investing activities:
Purchase of marketable securities	(98,479)	(89,687)
Sales of marketable securities	108,581	122,203
Asset acquisition costs, net of cash acquired related to Merger	0	(3,320)
Purchases of property and equipment	0	(285)
Net cash provided by investing activities	10,102	28,911
Cash flows from financing activities:
Proceeds from exercise of options	155	0
Tax withholding payments on net share settlement equity awards	(91)	(267)
Net proceeds from issuance of capital stock	321	43
Net cash provided by (used in) financing activities	385	(224)
Effect of Exchange Rate on Cash	(16)	(10)
Net (decrease) increase in cash and cash equivalents	(9,561)	7,507
Cash and cash equivalents at beginning of year	32,154	24,647
Cash and cash equivalents at end of year	22,593	32,154
Supplemental Disclosure of Cash Flow Information:
Issuance of common stock in connection with Merger	0	23,580
Incremental fair value of Cend's fully vested stock options assumed	$ 0	$ 2,136