Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations and Comprehensive (Loss) Income

v3.25.1
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating expenses    
Research and development $ 8,151 $ 8,793
General and administrative 5,944 3,076
Total operating expenses 14,095 11,869
Operating loss (14,095) (11,869)
Other (expense) income:    
Interest (expense) income - royalty agreement (3,887) 6,265
Interest expense - convertible notes payable (430) 0
Fair value adjustments on derivative liabilities - royalty agreement (633) 485
Fair value adjustments on convertible notes payable 1,100 0
Fair value adjustments on derivative liabilities - contingent value right liability (1,978) 0
Gain on extinguishment - royalty agreement 0 23,098
Other income - German R&D tax credit receivable 1,978 0
Other (expense) income, net 511 712
(Loss) income before income taxes (17,434) 18,691
Income tax benefit (expense) 0 0
Net (loss) income (17,434) 18,691
Less: Cumulative Series D preferred dividends 0 (776)
Net (loss) income attributable to common stockholders (17,434) 17,915
Other comprehensive income (loss):    
Foreign currency translation gain 3 0
Comprehensive (loss) income $ (17,431) $ 17,915
Net (loss) income per share of common stock (Note 13):    
Basic (in dollars per share) $ (7.83) $ 2.19
Diluted (in dollars per share) $ (7.83) $ 2.17
Weighted-average shares used in computing net (loss) income per share of common stock (Note 13):    
Basic (in shares) 2,225,934 1,770,167
Diluted (in shares) 2,225,934 1,793,980