v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (25,652) $ (13,889)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization of property and equipment 357 381
Stock-based compensation 1,864 1,296
Loss on disposal of fixed assets 121
Non-cash lease expense 904 (36)
Gain on bargain purchase (6,877)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 264 (476)
Accounts payable (602) (1,941)
Accrued compensation expenses (261) 204
Accrued expenses (694) 2,551
Net cash used in operating activities (23,699) (18,787)
Cash flows from investing activities:    
Purchases of property and equipment (887) (338)
Net cash used in investing activities (887) (338)
Cash flows from financing activities:    
Cash acquired in merger for stock consideration 55,374
Proceeds from SAFE note 8,000
Proceeds from sale of common stock and exercise of options 133 16
Net cash provided by financing activities 133 63,390
Effect of exchange rate changes on cash and cash equivalents 3 (1)
Cash, cash equivalents and restricted cash:    
Net (decrease) increase (24,450) 44,264
Balance at beginning of year 46,442 2,178
Balance at end of year 21,992 46,442
Supplemental disclosure of cash flow information:    
Income taxes 1
Non-cash investing and financing activities:    
Establishment of operating right-of-use assets through operating lease obligations 20,755
Cancellation of SAFE indebtedness in merger 8,000
Net liabilities acquired in merger for stock consideration 2,112
Receivables for cash in-transit on exercise of common stock under equity incentive plan 3
Purchase of property and equipment in accrued expenses $ 132

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