General form of registration statement for all companies including face-amount certificate companies

Balance Sheets (Current Period Unaudited)

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Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 14,207 $ 7,350
Deferred transaction costs 1,673 0
Prepaid expenses and other current assets 441 198
Total current assets 16,321 7,548
Total assets 16,321 7,548
Current liabilities:    
Accounts payable 3,130 936
Accrued expenses and other current liabilities 4,505 1,424
Total current liabilities 7,635 2,360
Royalty agreement liability 10,819 8,054
Derivative liabilities – royalty agreement 1,418 1,014
Convertible notes payable 13,250 0
Total liabilities 33,122 11,428
Commitments and contingencies (Note 10)
Convertible preferred stock, $0.00001 par value; 20,655,895 shares authorized; 15,360,787 shares issued and outstanding at September 30, 2024 and December 31, 2023; aggregate liquidation value of $66,063 at September 30, 2024 70,603 70,603
Stockholders’ deficit:    
Common stock, $0.00001 par value; 29,000,000 (25,500,000 voting and 3,500,000 non-voting) shares authorized; 5,720,009 (5,050,000 voting and 670,009 non-voting) shares issued and outstanding at September 30, 2024 and December 31, 2023 0 0
Additional paid-in capital 2,380 1,818
Accumulated deficit (89,784) (76,301)
Total stockholders’ deficit (87,404) (74,483)
Total liabilities, convertible preferred stock and stockholders’ deficit $ 16,321 $ 7,548