Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 128,506,000 $ 47,730,000
Investments in marketable securities, current 118,159,000 220,499,000
Assets held for sale 1,628,000 0
Prepaid expenses and other current assets 2,878,000 7,136,000
Total current assets 251,171,000 275,365,000
Restricted cash 1,716,000 1,716,000
Investments in marketable securities, non-current 0 15,322,000
Property and equipment, net 17,965,000 22,630,000
Operating lease right-of-use assets 15,837,000 5,580,000
Other assets 355,000 1,289,000
Total assets 287,044,000 321,902,000
Current liabilities:    
Accounts payable 2,720,000 2,608,000
Accrued compensation 2,268,000 3,799,000
Accrued research costs 577,000 720,000
Accrued expenses and other current liabilities 3,791,000 1,871,000
Operating lease liabilities, current 2,914,000 4,045,000
Total current liabilities 12,270,000 13,043,000
Operating lease liabilities, non-current 50,628,000 1,749,000
Other long- term liabilities 0 10,819,000
Total liabilities 62,898,000 25,611,000
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, $0.00001 par value, 10,000,000 shares authorized as of June 30, 2023 and December 31, 2022; and no shares issued and outstanding as of June 30, 2023 and December 31, 2022 0 0
Common stock, $0.00001 par value, 300,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 57,989,273 and 58,221,760 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 1,000 1,000
Additional paid-in-capital 546,067,000 539,741,000
Accumulated other comprehensive loss (271,000) (1,048,000)
Accumulated deficit (321,651,000) (242,403,000)
Total stockholders’ equity 224,146,000 296,291,000
Total liabilities and stockholders’ equity $ 287,044,000 $ 321,902,000