CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 76,963 $ 28,122
Prepaid expenses and other assets 11,194 12,027
Total current assets 88,157 40,149
Property and equipment, net 10,792 8,224
Operating lease right-of-use assets 1,815 1,927
Other assets 57 57
Total assets 100,821 50,357
Current liabilities:    
Current portion of long-term debt 5,370 5,355
Accounts payable 5,898 3,674
Accrued expenses and other current liabilities 5,400 5,931
Total current liabilities 16,668 14,960
Long-term debt, net 5,425 6,773
Operating lease liabilities, net 1,428 1,548
Development derivative liability 68,260 51,719
Other long-term liabilities 629 559
Total liabilities 92,410 75,559
Commitments and contingencies (Note 8)
Stockholders’ equity (deficit):    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; zero shares issued and outstanding at March 31, 2021 and December 31, 2020 0 0
Common stock, $0.001 par value; 200,000,000 shares authorized; 47,982,000 shares issued and 47,952,033 shares outstanding at March 31, 2021; 29,471,854 shares issued and 29,441,887 shares outstanding at December 31, 2020 48 29
Treasury stock, at cost, 29,967 shares as of March 31, 2021 and December 31, 2020 (24) (24)
Additional paid-in capital 296,468 235,516
Accumulated deficit (288,081) (260,723)
Total stockholders’ equity (deficit) 8,411 (25,202)
Total liabilities and stockholders' equity (deficit) $ 100,821 $ 50,357