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FY2024
12 months to Dec 31, 2024
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FY2023
12 months to Dec 31, 2023
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|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operations: | ||
| Stock-based compensation expense | ||
| Income from sale of asset | ||
| Expense related to acquired in-process research and development assets | ||
| Net amortization of premiums and accretion of discounts on short-term marketable securities | ||
| Change in fair value of derivative tranche liability | ||
| Depreciation and amortization expense | ||
| Loss on disposal of property, plant and equipment | ||
| Non-cash lease expense | ||
| Changes in assets and liabilities: | ||
| Prepaid expense and other current assets | ||
| Prepaid expenses and other assets, non-current | ||
| Accounts payable | ||
| Accrued research and development expenses | ||
| Accrued compensation and other current liabilities | ||
| Operating lease liability | ||
| Severance liability | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities | ||
| Proceeds from sale of asset | ||
| ValenzaBio assets acquisition cash acquired, net of acquisition costs | ||
| Cash paid to acquire in-process research and development assets | ||
| Purchase of marketable securities | ||
| Proceeds from maturities of short-term marketable securities | ||
| Sales of marketable securities | ||
| Purchase of property, plant and equipment | ||
| Payments for ValenzaBio Acquisition costs | ||
| Net cash provided by (used in) investing activities | ||
| Cash flows from financing activities | ||
| Issuance of common stock upon initial public offering, net of commissions and issuance costs | ||
| Proceeds from exercise of common stock options and issuance of common stock under the employee stock purchase plan | ||
| Proceeds from the issuance of redeemable convertible preferred stock, net of issuance costs | ||
| Payments for deferred offering costs | ||
| Proceeds from exercise of common stock options and issuance of common stock upon settlement of restricted stock units, net of shares withheld for taxes, under the employee stock purchase plan | ||
| Taxes paid related to net share settlement of restricted stock units | ||
| Net cash provided by financing activities | ||
| Net decrease in cash, cash equivalents and restricted cash | ||
| Cash, cash equivalents, and restricted cash at beginning of year | ||
| Cash, cash equivalents and restricted cash at end of year | ||
| Supplemental disclosure of cash flow information: | ||
| Conversion of Stock, Amount Converted | ||
| Common stock issued in connection with ValenzaBio acquisition | ||
| Right-of-use assets obtained in exchange for operating lease liability | ||
| Deferred offering costs included in accrued compensation and other current liabilities and accounts payable | ||
| ValenzaBio Acquisition costs included in accounts payable |
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