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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (20,963) $ (14,575)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 9 2
Stock-based compensation expense 522 144
Change in fair value of warrant liability 11,808 10,375
Amortization of operating lease right of use asset 275 43
Changes in assets and liabilities:    
Prepaid expense and other current assets 1,344 338
Accounts payable and accrued liabilities 822 (193)
Operating lease liability (273) (54)
Net cash used in operating activities (6,456) (3,920)
Cash flows from investing activities    
Purchases of property, plant, and equipment (6)
Net cash used in investing activities (6)
Cash flows from financing activities    
Payments on financed insurance policies (496) (240)
Issuance costs related to issuance of Series B-1 preferred stock (3,813)
Proceeds from issuance of Series B-1 preferred stock 50,000
Issuance costs related to issuance of Series A-1 preferred stock and warrants (2,153)
Proceeds from issuance of Series A-1 preferred stock and warrants 30,190
Net cash provided by financing activities 45,691 27,797
Net increase in cash and cash equivalents 39,229 23,877
Cash and cash equivalents at the beginning of the period 9,701 455
Cash and cash equivalents at the end of the period 48,930 24,332
Supplemental cash flow information    
Accrued dividends on preferred stock 208 192
Fair value of warrants issued in connection with the issuance of preferred stock 2,831
Deferred insurance charges included in prepaid expenses and other current assets 146
Deferred preclinical and other charges included in prepaid expenses and other current assets 86 121
Cash paid for interest 5,000
Cash paid for income taxes

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