Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 18,818 $ 455
Prepaid expenses and other current assets 3,112 2,189
Total current assets 21,930 2,644
Right of use asset, net 923 152
Property, plant and equipment, net 30 22
Total assets 22,883 2,818
Current liabilities:    
Accounts payable 503 892
Accrued liabilities 1,689 2,237
Warrant liability 12,924
Operating lease liability - current 303 155
Total current liabilities 15,419 3,284
Operating lease liability – long term 634
Total liabilities 16,053 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 June 30, 2023, respectively; zero and 30,190 shares issued and outstanding, liquidation preference of zero and $31.0 million at December 31, 2022, and June 30, 2023, respectively 26,202
Stockholders’ deficit:    
Preferred stock, $0.001 par value per share – 10,000,000 and 9,969,810 shares authorized at December 31, 2022 and June 30, 2023, respectively; no shares issued and outstanding at December 31, 2022, and June 30, 2023
Common stock, $0.001 par value per share – 200,000,000 shares authorized at December 31, 2022 and June 30, 2023; 15,231,655 shares issued and outstanding at December 31, 2022, and 15,236,016 shares issued and outstanding at June 30, 2023 15 15
Additional paid-in capital 33,023 33,516
Accumulated deficit (52,410) (33,997)
Total stockholders’ deficit (19,372) (466)
Total liabilities, mezzanine equity, and stockholders’ deficit $ 22,883 $ 2,818