Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 47,161 $ 50,501
Accounts receivable 1,924 926
Contract assets and unbilled receivables (Note 9) 1,194 1,407
Prepaids and other assets 1,560 1,099
Short-term investments 5 15
Total current assets 51,844 53,948
Property and equipment, net 0 0
Total assets 51,844 53,948
Current liabilities:    
Accounts payable 2,064 2,153
Accrued expenses 3,649 1,815
Derivative liability 74 74
Total current liabilities 5,787 4,042
Total liabilities 5,787 4,042
Commitments and contingencies (Note 3 and Note 8)
Stockholders' equity:    
Preferred stock, par value $0.0001; 10,000,000 shares authorized as of March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023. 0 0
Common stock, par value $0.0001; 75,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 25,085,592 and 23,977,491 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively. 3 2
Additional paid-in capital 134,626 131,370
Accumulated deficit (88,572) (81,466)
Total stockholders' equity 46,057 49,906
Total liabilities and stockholders' equity $ 51,844 $ 53,948