Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 24,332 $ 455
Prepaid expenses and other current assets 1,852 2,189
Total current assets 26,184 2,644
Right of use asset, net 997 152
Property, plant and equipment, net 21 22
Total assets 27,202 2,818
Current liabilities:    
Accounts payable 790 892
Accrued liabilities 1,698 2,237
Warrant liability 13,206
Operating lease liability - current 276 155
Total current liabilities 15,970 3,284
Operating lease liability – long term 715
Total liabilities 16,685 3,284
Commitments and contingencies (Note 8)
Mezzanine equity:    
Series A-1 preferred stock, $0.001 par value per share–zero and 30,190 shares authorized at December 31, 2022 and March 31, 2023, respectively; zero and 30,190 shares issued and outstanding, liquidation preference of zero and $30.6 million at December 31, 2022, and March 31, 2023, respectively 25,599
Stockholders’ deficit:    
Preferred stock, $0.001 par value per share – 10,000,000 and 9,969,810 shares authorized at December 31, 2022 and March 31, 2023, respectively; no shares issued and outstanding at December 31, 2022, and March 31, 2023
Common stock, $0.001 par value per share – 200,000,000 shares authorized at December 31, 2022 and March 31, 2023; 15,231,655 shares issued and outstanding at December 31, 2022, and 15,233,836 shares issued and outstanding at March 31, 2023 15 15
Additional paid-in capital 33,475 33,516
Accumulated deficit (48,572) (33,997)
Total stockholders’ deficit (15,082) (466)
Total liabilities, mezzanine equity, and stockholders’ deficit $ 27,202 $ 2,818