Cidara Therapeutics (CDTX) 10-K 22 Apr 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Apr. 12, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36912
Entity Registrant Name	CIDARA THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1537286
Entity Address, Address Line One	6310 Nancy Ridge Drive,
Entity Address, Address Line Two	Suite 101
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	(858)
Local Phone Number	752-6170
Title of 12(b) Security	Common Stock, $0.0001 Par Value
Trading Symbol	“CDTX”
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	true
Document Financial Statement Restatement Recovery Analysis	false
Entity Shell Company	false
Entity Public Float			$ 100.2
Entity Common Stock, Shares Outstanding		91,235,020
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001610618

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	San Diego, California
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 35,778	$ 48,670	$ 50,430	$ 47,976	$ 32,731	$ 53,078	$ 24,637	$ 36,488
Accounts receivable	16,246	3,178	5,483	26,121	5,833	5,042	4,833	8,783
Inventory	6,097	2,901	2,388		0	0	0
Prepaid expenses and other current assets	2,734	3,712	4,373	5,711	6,530	5,779	6,706	5,254
Total current assets	60,855	58,461	62,674	79,808	45,094	63,899	36,546	52,007
Property and equipment, net	557	580	297	270	222	173	201	239
Finance lease right-of-use asset, net	782				0
Operating lease right-of-use asset	3,788	4,050	4,307	836	1,099	1,354	1,602	1,846
Other assets	1,048	1,053	1,061	1,061	1,072	1,295	1,013	1,019
Total assets	67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
Current liabilities:
Accounts payable	3,772	3,661	1,899	4,026	1,447	4,244	3,091	2,861
Accrued liabilities	14,177	11,772	10,022	9,108	7,672	8,162	8,567	9,954
Accrued indirect tax liabilities	18,040	14,689	13,431	11,795	11,534	11,314	10,582	7,942
Accrued compensation and benefits	5,034	4,457	3,582	5,843	4,922	4,117	3,464	3,079
Current contract liabilities	25,095	14,679	14,975	15,790	14,614	15,249	14,730	14,260
Current portion of finance lease liability	218				0
Current portion of operating lease liability	1,082	970	861	920	1,211	1,169	1,129	1,090
Total current liabilities	67,418	50,228	44,770	47,482	41,400	44,255	41,933	40,667
Long-term contract liabilities	4,245	16,504	17,551	19,386	20,525	24,398	15,351	17,229
Long-term finance lease liability	575				0
Long-term operating lease liability	3,002	3,306	3,601	0	0	315	621	920
Total liabilities	75,240	70,038	65,922	66,868	61,925	68,968	57,905	58,816
Commitments and contingencies
Stockholders’ deficit:
Preferred stock
Common stock, $0.0001 par value; 200,000,000 shares authorized at December 31, 2023 and 2022; 90,601,999 shares issued and outstanding at December 31, 2023; 72,470,440 shares issued and outstanding at December 31, 2022	9	9	9	9	7	7	7	7
Additional paid-in capital	433,212	432,315	431,519	430,585	404,055	402,649	400,599	399,678
Accumulated deficit	(441,431)	(438,218)	(429,111)	(415,487)	(418,500)	(404,903)	(419,149)	(403,390)
Total stockholders’ deficit	(8,210)	(5,894)	2,417	15,107	(14,438)	(2,247)	(18,543)	(3,705)	$ 13,104
Total liabilities and stockholders’ deficit	67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
Series X Convertible Preferred Stock
Stockholders’ deficit:
Preferred stock	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	May 31, 2018
Preferred stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Common stock, shares issued (in shares)	90,601,999	90,415,944	90,251,746	90,024,562	72,470,440	71,181,197	69,238,508	69,049,247
Common stock, shares outstanding (in shares)	90,601,999	90,415,944	90,251,746	90,024,562	72,470,440	71,181,197	69,238,508	69,049,247
Series X Convertible Preferred Stock
Preferred stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	5,000,000
Preferred stock, shares issued (in shares)	2,156,713	2,156,713	2,156,713	2,156,713	1,870,713	1,870,713	1,870,713	1,870,713
Preferred stock, shares outstanding (in shares)	2,104,472	2,104,472	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472	1,818,472

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Collaboration revenue	$ 11,250	$ 7,497	$ 26,107	$ 40,744	$ 6,216	$ 7,269	$ 33,604	$ 13,485	$ 44,854	$ 54,229	$ 59,570	$ 64,448
Product revenue	1,468			0					1,468	0	4,335	0
Total revenues	12,718	7,497	26,107	40,744	6,216	7,269	33,604	13,485	46,322	54,229	63,905	64,448
Operating expenses:
Cost of product revenue	387			0					387	0	1,523	0
Research and development	17,389	17,556	18,869	20,283	16,630	20,381	36,425	37,011	53,814	57,294	68,532	77,405
Selling, general and administrative	4,432	4,039	4,457	6,270	5,339	5,342	8,496	10,681	12,928	16,951	18,333	20,546
Total operating expenses	22,208	21,595	23,326	26,553	21,969	25,723	44,921	47,692	67,129	74,245	88,388	97,951
Loss from operations	(9,490)	(14,098)	2,781	14,191	(15,753)	(18,454)	(11,317)	(34,207)	(20,807)	(20,016)	(24,483)	(33,503)
Other income, net:
Interest income, net	613	623	232	55	(6)	(20)	855	(26)	1,468	29	1,995	191
Total other income, net	613	623	232	55	(6)	(20)	855	(26)	1,468	29	1,995	191
Loss before income tax expense	(8,877)	(13,475)		14,246	(15,759)		(10,462)	(34,233)	(19,339)	(19,987)	(22,488)	(33,312)
Income tax expense	(230)	(149)		0	0		(149)	0	(379)	0	(443)	(272)
Net loss and comprehensive loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)	(10,611)	(34,233)	(19,718)	(19,987)	(22,931)	(33,584)
Net loss and comprehensive loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Basic net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Diluted net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Shares used to compute basic net loss per common share (in shares)	90,287,441	90,115,859	78,640,086	70,217,985	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698

Consolidated Statements of Conv

Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Underwritten Public Offering	Public Offering	Series X Convertible Preferred Stock	Preferred Stock Series X Convertible Preferred Stock	Preferred Stock Series X Convertible Preferred Stock Underwritten Public Offering	Common Stock	Common Stock Underwritten Public Offering	Common Stock Public Offering	Additional Paid-In Capital	Additional Paid-In Capital Underwritten Public Offering	Additional Paid-In Capital Public Offering	Accumulated Deficit
Balance, beginning (in shares) at Dec. 31, 2021					1,818,472
Balance, beginning at Dec. 31, 2021	$ 13,104				$ 0		$ 7			$ 398,013			$ (384,916)
Balance, beginning (in shares) at Dec. 31, 2021							67,863,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)									644,265
Issuance of stock, net of issuance costs			$ 500									$ 500
Issuance of common stock for restricted share units vested (in shares)							541,308
Stock-based compensation	1,165									1,165
Net loss	(18,474)												(18,474)
Balance, ending (in shares) at Mar. 31, 2022				1,818,472	1,818,472
Balance, ending at Mar. 31, 2022	$ (3,705)				$ 0		$ 7			399,678			(403,390)
Balance, ending (in shares) at Mar. 31, 2022	69,049,247						69,049,247
Balance, beginning (in shares) at Dec. 31, 2021					1,818,472
Balance, beginning at Dec. 31, 2021	$ 13,104				$ 0		$ 7			398,013			(384,916)
Balance, beginning (in shares) at Dec. 31, 2021							67,863,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under Employee Stock Purchase Plan	69
Net loss	(34,233)
Balance, ending (in shares) at Jun. 30, 2022				1,818,472	1,818,472
Balance, ending at Jun. 30, 2022	$ (18,543)				$ 0		$ 7			400,599			(419,149)
Balance, ending (in shares) at Jun. 30, 2022	69,238,508						69,238,508
Balance, beginning (in shares) at Dec. 31, 2021					1,818,472
Balance, beginning at Dec. 31, 2021	$ 13,104				$ 0		$ 7			398,013			(384,916)
Balance, beginning (in shares) at Dec. 31, 2021							67,863,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under Employee Stock Purchase Plan	69
Net loss	(19,987)
Balance, ending (in shares) at Sep. 30, 2022				1,818,472	1,818,472
Balance, ending at Sep. 30, 2022	$ (2,247)				$ 0		$ 7			402,649			(404,903)
Balance, ending (in shares) at Sep. 30, 2022	71,181,197						71,181,197
Balance, beginning (in shares) at Dec. 31, 2021					1,818,472
Balance, beginning at Dec. 31, 2021	$ 13,104				$ 0		$ 7			398,013			(384,916)
Balance, beginning (in shares) at Dec. 31, 2021							67,863,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)									3,414,926
Issuance of stock, net of issuance costs			2,370									2,370
Issuance of common stock for restricted share units vested (in shares)							828,244
Issuance of common stock under Employee Stock Purchase Plan (in shares)							363,596
Issuance of common stock under Employee Stock Purchase Plan	140									140
Stock-based compensation	3,532									3,532
Issuance costs for underwritten public offering		$ 0									$ 0
Net loss	(33,584)												(33,584)
Balance, ending (in shares) at Dec. 31, 2022				1,818,472	1,818,472
Balance, ending at Dec. 31, 2022	$ (14,438)				$ 0		$ 7			404,055			(418,500)
Balance, ending (in shares) at Dec. 31, 2022	72,470,440						72,470,440
Balance, beginning (in shares) at Mar. 31, 2022				1,818,472	1,818,472
Balance, beginning at Mar. 31, 2022	$ (3,705)				$ 0		$ 7			399,678			(403,390)
Balance, beginning (in shares) at Mar. 31, 2022	69,049,247						69,049,247
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for restricted share units vested (in shares)							5,042
Issuance of common stock under Employee Stock Purchase Plan (in shares)							184,219
Issuance of common stock under Employee Stock Purchase Plan	$ 69									69
Stock-based compensation	852									852
Net loss	(15,759)												(15,759)
Balance, ending (in shares) at Jun. 30, 2022				1,818,472	1,818,472
Balance, ending at Jun. 30, 2022	$ (18,543)				$ 0		$ 7			400,599			(419,149)
Balance, ending (in shares) at Jun. 30, 2022	69,238,508						69,238,508
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)									1,664,170
Issuance of stock, net of issuance costs			1,208									1,208
Issuance of common stock for restricted share units vested (in shares)							278,519
Stock-based compensation	$ 842									842
Net loss	14,246												14,246
Balance, ending (in shares) at Sep. 30, 2022				1,818,472	1,818,472
Balance, ending at Sep. 30, 2022	$ (2,247)				$ 0		$ 7			402,649			(404,903)
Balance, ending (in shares) at Sep. 30, 2022	71,181,197						71,181,197
Balance, beginning (in shares) at Dec. 31, 2022				1,818,472	1,818,472
Balance, beginning at Dec. 31, 2022	$ (14,438)				$ 0		$ 7			404,055			(418,500)
Balance, beginning (in shares) at Dec. 31, 2022	72,470,440						72,470,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)						286,000		11,086,000	6,158,799
Issuance of stock, net of issuance costs		17,256	8,622					$ 1	$ 1		17,255	8,621
Issuance of common stock for exercise of stock options (in shares)							16,250
Issuance of common stock for exercise of stock options	$ 14									14
Issuance of common stock for restricted share units vested (in shares)							293,073
Stock-based compensation	640									640
Net loss	3,013												3,013
Balance, ending (in shares) at Mar. 31, 2023				2,104,472	2,104,472
Balance, ending at Mar. 31, 2023	$ 15,107				$ 0		$ 9			430,585			(415,487)
Balance, ending (in shares) at Mar. 31, 2023	90,024,562						90,024,562
Balance, beginning (in shares) at Dec. 31, 2022				1,818,472	1,818,472
Balance, beginning at Dec. 31, 2022	$ (14,438)				$ 0		$ 7			404,055			(418,500)
Balance, beginning (in shares) at Dec. 31, 2022	72,470,440						72,470,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under Employee Stock Purchase Plan	$ 63
Net loss	(10,611)
Balance, ending (in shares) at Jun. 30, 2023				2,104,472	2,104,472
Balance, ending at Jun. 30, 2023	$ 2,417				$ 0		$ 9			431,519			(429,111)
Balance, ending (in shares) at Jun. 30, 2023	90,251,746						90,251,746
Balance, beginning (in shares) at Dec. 31, 2022				1,818,472	1,818,472
Balance, beginning at Dec. 31, 2022	$ (14,438)				$ 0		$ 7			404,055			(418,500)
Balance, beginning (in shares) at Dec. 31, 2022	72,470,440						72,470,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under Employee Stock Purchase Plan	$ 63
Net loss	(19,718)
Balance, ending (in shares) at Sep. 30, 2023				2,104,472	2,104,472
Balance, ending at Sep. 30, 2023	$ (5,894)				$ 0		$ 9			432,315			(438,218)
Balance, ending (in shares) at Sep. 30, 2023	90,415,944						90,415,944
Balance, beginning (in shares) at Dec. 31, 2022				1,818,472	1,818,472
Balance, beginning at Dec. 31, 2022	$ (14,438)				$ 0		$ 7			404,055			(418,500)
Balance, beginning (in shares) at Dec. 31, 2022	72,470,440						72,470,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)						286,000		11,086,000	6,219,741
Issuance of stock, net of issuance costs		$ 17,256	8,699					$ 1	$ 1		$ 17,255	8,698
Issuance of common stock for exercise of stock options (in shares)	25,750						25,750
Issuance of common stock for exercise of stock options	$ 21									21
Issuance of common stock for restricted share units vested (in shares)							490,520
Issuance of common stock under Employee Stock Purchase Plan (in shares)							309,548
Issuance of common stock under Employee Stock Purchase Plan	122									122
Stock-based compensation	3,061									3,061
Net loss	(22,931)												(22,931)
Balance, ending (in shares) at Dec. 31, 2023				2,104,472	2,104,472
Balance, ending at Dec. 31, 2023	$ (8,210)				$ 0		$ 9			433,212			(441,431)
Balance, ending (in shares) at Dec. 31, 2023	90,601,999						90,601,999
Balance, beginning (in shares) at Mar. 31, 2023				2,104,472	2,104,472
Balance, beginning at Mar. 31, 2023	$ 15,107				$ 0		$ 9			430,585			(415,487)
Balance, beginning (in shares) at Mar. 31, 2023	90,024,562						90,024,562
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net of issuance costs (in shares)									60,942
Issuance of stock, net of issuance costs			$ 76									$ 76
Issuance of common stock for restricted share units vested (in shares)							4,875
Issuance of common stock under Employee Stock Purchase Plan (in shares)							161,367
Issuance of common stock under Employee Stock Purchase Plan	$ 63									63
Stock-based compensation	795									795
Net loss	(13,624)												(13,624)
Balance, ending (in shares) at Jun. 30, 2023				2,104,472	2,104,472
Balance, ending at Jun. 30, 2023	$ 2,417				$ 0		$ 9			431,519			(429,111)
Balance, ending (in shares) at Jun. 30, 2023	90,251,746						90,251,746
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for restricted share units vested (in shares)							164,198
Stock-based compensation	$ 796									796
Net loss	(9,107)												(9,107)
Balance, ending (in shares) at Sep. 30, 2023				2,104,472	2,104,472
Balance, ending at Sep. 30, 2023	$ (5,894)				$ 0		$ 9			$ 432,315			$ (438,218)
Balance, ending (in shares) at Sep. 30, 2023	90,415,944						90,415,944

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net loss	$ (22,931)	$ (33,584)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	3,061	3,532
Non-cash operating lease expense	1,158	981
Depreciation and amortization	112	143
Amortization of costs to obtain a contract with a customer	77	0
Amortization of finance lease right-of-use asset	6	0
Non-cash interest expense	5	1
Changes in assets and liabilities:
Accounts receivable	(10,413)	(477)
Inventory	(6,097)	0
Prepaid expenses, other current assets, and other assets	3,735	(2,440)
Accounts payable and accrued liabilities	8,886	(2,371)
Accrued indirect tax liabilities	6,506	3,945
Accrued compensation and benefits	235	203
Contract liabilities	(5,799)	2,646
Operating lease liabilities	(973)	(1,052)
Net cash used in operating activities	(22,432)	(28,473)
Investing activities:
Purchases of property and equipment	(505)	(118)
Net cash used in investing activities	(505)	(118)
Financing activities:
Proceeds from underwritten public offering, net of issuance costs	17,256	0
Proceeds from public offering of common stock, net of issuance costs	8,707	2,362
Proceeds from exercise of stock options	21	0
Issuance costs for underwritten public offering	0	(720)
Principal repayments of Term Loan	0	(2,593)
Net cash provided by (used in) financing activities	25,984	(951)
Net increase (decrease) in cash and cash equivalents	3,047	(29,542)
Cash and cash equivalents at beginning of year	32,731	62,273
Cash and cash equivalents at end of year	35,778	32,731
Supplemental disclosure of cash flows:
Interest paid	0	40
Income taxes paid	797	0
Non-cash investing activity:
Purchases of property and equipment, included in accounts payable and accrued liabilities	11	69
Finance lease right-of-use asset obtained in exchange for lease liability	788	0
Operating lease right-of-use asset obtained in exchange for lease liability	3,847	0
Non-cash financing activities:
Purchase of shares pursuant to Employee Stock Purchase Plan	122	140
Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets	$ 0	$ 8

THE COMPANY AND BASIS OF PRESEN

THE COMPANY AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND BASIS OF PRESENTATION	THE COMPANY AND BASIS OF PRESENTATION Description of Business Cidara Therapeutics, Inc., or the Company, was originally incorporated in Delaware in December 2012 as K2 Therapeutics, Inc., and its name was changed to Cidara Therapeutics, Inc. in July 2014. The Company is a biotechnology company focused on developing targeted therapies designed to save lives and improve the standard of care for patients facing serious diseases. The Company’s first commercially approved product in the United States, or U.S., is REZZAYO ® (rezafungin for injection) which is indicated for the treatment of candidemia and invasive candidiasis in adults with limited or no alternative treatment options. Melinta Therapeutics, LLC, or Melinta, is commercializing REZZAYO in the U.S. The Company’s proprietary Cloudbreak ® platform enables development of novel drug-Fc conjugates, or DFCs, that inhibit specific disease targets while simultaneously engaging the immune system. The Company’s most advanced DFC program is CD388, a highly potent antiviral designed to deliver universal prevention and treatment of seasonal and pandemic influenza, which is in Phase 1 and Phase 2a clinical trials. Additional programs are targeting multiple oncology and autoimmune indications. The Company formed wholly-owned subsidiaries, Cidara Therapeutics UK Limited, in England, and Cidara Therapeutics (Ireland) Limited, in Ireland, in March 2016 and October 2018, respectively, for the purpose of developing its product candidates in Europe. Basis of Presentation The Company has a limited operating history and the sales and income potential of the Company’s business and market are unproven. The Company has experienced net losses and negative cash flows from operating activities since its inception. At December 31, 2023, the Company had an accumulated deficit of $441.4 million. The Company expects to continue to incur net losses into the foreseeable future. Successful transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. At December 31, 2023, the Company had cash and cash equivalents of $35.8 million. Based on the Company’s current business plan, management believes that existing cash and cash equivalents will not be sufficient to fund the Company’s obligations for twelve months from the issuance of these financial statements. The Company’s ability to execute its operating plan depends on its ability to obtain additional funding through equity offerings, debt financings or potential licensing and collaboration arrangements. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business. However, the Company’s current working capital, anticipated operating expenses and net losses and the uncertainties surrounding its ability to raise additional capital as needed, as discussed below, raise substantial doubt about its ability to continue as a going concern for a period of one year following the date that these consolidated financial statements are issued. The consolidated financial statements do not include any adjustments for the recovery and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company plans to continue to fund its losses from operations through cash and cash equivalents on hand, as well as through future equity offerings, debt financings, other third party funding, and potential licensing or collaboration arrangements. There can be no assurance that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to the Company. Even if the Company raises additional capital, it may also be required to modify, delay or abandon some of its plans which could have a material adverse effect on the Company’s business, operating results and financial condition and the Company’s ability to achieve its intended business objectives. Any of these actions could materially harm the Company’s business, results of operations and future prospects. Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company’s consolidated financial statements relate to estimated collaboration expenses related to the Company’s collaboration and license agreements, certain accruals, including those related to nonclinical and clinical activities, and the stand-alone selling price of performance obligations associated with the Company’s collaboration and license agreements. Although the estimates are based on the Company’s knowledge of current events, comparable companies, and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, the Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment. Restatement of Consolidated Financial Statements The Company evaluated the indirect taxation consequences upon the first commercial sale of REZZAYO in 2023 and determined that it had a liability for indirect taxation in various tax jurisdictions outside of the U.S. based on its supply chain activities in 2023 and prior years. As a result, it was concluded that in prior years the Company did not appropriately account for indirect taxes which led to understatements of accrued liabilities and operating expenses during the impacted periods. The Company recorded an accrued liability for indirect taxes, and the related interest and penalties, of $11.5 million, an increase in operating expenses of $3.9 million, and an increase in beginning accumulated deficit of $7.6 million, for 2022. The Company recorded an accrued liability for indirect taxes, and the related interest and penalties, of $7.6 million, an increase in operating expenses of $3.7 million, and an increase in beginning accumulated deficit of $3.9 million, for 2021. The consolidated financial statements (as restated) also include adjustments to correct certain other previously identified misstatements relating to fiscal year 2022 and the quarters within 2023 that the Company had determined to be immaterial, both individually and in the aggregate. Impact of Restatement See below for reconciliation from the previously reported amounts to the restated amounts in the consolidated balance sheet, consolidated statement of operations and comprehensive loss, consolidated statement of convertible preferred stock and stockholders’ equity (deficit), and consolidated statement of cash flows as of and for the year ended December 31, 2022. The previously reported amounts were derived from the Company's Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 23, 2023. These amounts are labeled as "As Previously Reported" in the tables below. The amounts labeled "Restatement Adjustment" represent the effects of this restatement described above. The following presents a reconciliation of the impacted financial statement line items as previously reported to the restated amounts as of and for the year ended December 31, 2022 (in thousands, except share and per share data): Year Ended December 31, 2022 Corrected Consolidated Balance Sheet As Previously Reported Restatement Adjustment As Restated Operating lease right-of-use asset $ 1,205 $ (106) $ 1,099 Total assets 47,593 (106) 47,487 Accrued indirect tax liabilities — 11,534 11,534 Current portion of operating lease liability 1,317 (106) 1,211 Total current liabilities 29,972 11,428 41,400 Total liabilities 50,497 11,428 61,925 Accumulated deficit (406,966) (11,534) (418,500) Total stockholders’ deficit (2,904) (11,534) (14,438) Total liabilities and stockholders’ deficit 47,593 (106) 47,487 Year Ended December 31, 2022 Corrected Consolidated Statement of Operations and Comprehensive Loss As Previously Reported Restatement Adjustment As Restated Collaboration revenue $ 64,288 $ 160 $ 64,448 Total revenues 64,288 160 64,448 Research and development 75,520 1,885 77,405 Selling, general and administrative 18,486 2,060 20,546 Total operating expenses 94,006 3,945 97,951 Loss from operations (29,718) (3,785) (33,503) Loss before income tax expense (29,527) (3,785) (33,312) Net loss and comprehensive loss (29,799) (3,785) (33,584) Basic and diluted net loss per common share (0.43) (0.48) Shares used to compute basic and diluted net loss per common share 69,857,698 69,857,698 Additional Paid-In Capital Corrected Consolidated Statement of Convertible Preferred Stock and Stockholders’ Equity (Deficit) As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ 398,733 $ (720) $ 398,013 Issuance costs for underwritten public offering (720) 720 — Balance, December 31, 2022 404,055 — 404,055 Accumulated Deficit As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ (377,167) $ (7,749) $ (384,916) Net loss (29,799) (3,785) (33,584) Balance, December 31, 2022 (406,966) (11,534) (418,500) Total Stockholders’ Equity (Deficit) As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ 21,573 $ (8,469) $ 13,104 Issuance costs for underwritten public offering (720) 720 — Net loss (29,799) (3,785) (33,584) Balance, December 31, 2022 (2,904) (11,534) (14,438) Year Ended December 31, 2022 Corrected Consolidated Statement of Cash Flows As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (29,799) $ (3,785) $ (33,584) Adjustments to reconcile net loss to net cash used in operating activities: Non-cash operating lease expense 1,082 (101) 981 Changes in assets and liabilities: Accrued indirect tax liabilities — 3,945 3,945 Contract liabilities 2,806 (160) 2,646 Operating lease liabilities (1,153) 101 (1,052) The remainder of the notes to the Company’s consolidated financial statements have been updated and restated, as applicable, to reflect the impacts from the restatement discussed above.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents The Company considers all short-term investments purchased with a maturity of three months or less when acquired to be cash equivalents. Accounts Receivable Accounts receivable is stated at the original invoice amount and consists of amounts due from customers related to milestones achieved, certain research and development and clinical supply costs subject to reimbursement under the collaboration and license agreements, royalties earned, and product sales. The Company records accounts receivables net of any allowances for doubtful accounts for potential credit losses. An allowance for doubtful accounts is determined based on the financial condition and creditworthiness of customers and the Company considers economic factors and events or trends expected to affect future collections experience. Any allowance would reduce the net receivables to the amount that is expected to be collected. The payment history of the Company’s customers will be considered in future assessments of collectability as these patterns are established over a longer period of time. The Company did not record any credit losses as of December 31, 2023 or 2022. Inventory The Company began capitalizing inventory for REZZAYO, which received approval by the U.S. Food and Drug Administration, or FDA, in March 2023. REZZAYO (rezafungin for injection) is approved for the treatment of candidemia and invasive candidiasis in adults with limited or no alternative treatment options. Prior to regulatory approval, all direct and indirect manufacturing costs were charged to research and development expense in the period incurred. Inventory is comprised of raw materials, work-in-process and finished goods, and includes costs related to materials, third-party contract manufacturing, freight-in and overhead. Inventory is stated at the lower of cost or net realizable value with cost based on the first-in-first-out method. The Company performs an assessment of recoverability of capitalized inventory during each reporting period based on an analysis of forecasted demand compared to quantities on hand and any firm purchase orders, as well as product shelf life, and writes down any excess, obsolete or unsaleable inventory to its estimated realizable value in the period which the required reserve is first identified. Such write downs, should they occur, are charged to cost of product revenue in the consolidated statements of operations and comprehensive loss. As of December 31, 2023, the Company did not identify any excess, obsolete or unsaleable inventory. Property and Equipment The Company records property and equipment at cost, which consists of laboratory equipment, computer equipment and software, office equipment, furniture and fixtures and leasehold improvements. Property and equipment is depreciated using the straight-line method over the estimated useful lives (generally three Finance Lease In accordance with Accounting Standards Codification , or ASC, 842, Leases , or ASC 842, the Company determines if a contract contains a lease at inception and recognizes finance lease right-of-use assets and finance lease liabilities based on the present value of the future minimum lease payments at the commencement date. The implicit rate within the Company’s finance lease was determinable and therefore used in determining the present value of future payments at the commencement date. Lease agreements that have lease and non-lease components are accounted for as a single lease component. The Company recognizes amortization of the right-of-use assets and interest on the lease liabilities for its finance lease. Finance lease right-of-use assets are amortized on a straight-line basis from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. However, if the lease transfers ownership of the underlying asset to the lessee or the lessee is reasonably certain to exercise an option to purchase the underlying asset, the right-of-use assets are amortized to the end of the useful life of the underlying asset. Operating Lease In accordance with ASC 842 the Company determines if a contract contains a lease at inception and recognizes operating lease right-of-use assets and operating lease liabilities based on the present value of the future minimum lease payments at the commencement date. As the Company’s operating leases do not provide an implicit rate, management develops incremental borrowing rates based on the information available at the commencement date in determining the present value of future payments. Lease agreements that have lease and non-lease components are accounted for as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. Concentration of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in government insured financial institutions in excess of government insured limits. The Company invests its cash balances in financial institutions that it believes have high credit quality, has not experienced any losses on such accounts and does not believe it is exposed to significant credit risk. Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in selling, general and administrative, or SG&A, expenses in the accompanying statements of operations and comprehensive loss. Income Taxes The Company reports deferred income taxes in accordance with ASC 740, Income Taxes , or ASC 740. ASC 740 requires a company to recognize deferred tax assets and liabilities for expected future income tax consequences of events that have been recognized in the Company’s consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740, which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Indirect Taxes The Company’s purchases of clinical drug supplies and raw materials, inventory transfers, and sales of commercial drug product are subject to indirect taxation in various jurisdictions outside of the U.S. Indirect tax payable is included in accrued indirect tax liabilities, the related expense is included in research and development, or R&D, expenses, and the related interest and penalties are included in SG&A expenses. The accrual is for the indirect tax incurred in various tax jurisdictions outside of the U.S. as a consequence of the Company’s supply chain activities or in connection with commercial sales of REZZAYO. To the extent that any accrued indirect taxes are determined to not be due and payable, then any associated liabilities and operating expenses will be reversed in future periods. Indirect tax amounts on commercial sales (product revenue) that can be billed to and recovered from our customers are included in accounts receivables. Indirect tax amounts related to inventory purchases and manufacturing are included within inventory. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers , or ASC 606, which applies to all contracts with customers, except for elements of certain contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. In a contract with multiple performance obligations, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation, which determines how the transaction price is allocated among the performance obligations. The estimation of the stand-alone selling price(s) may include estimates regarding forecasted revenues or costs, development timelines, discount rates, and probabilities of technical and regulatory success. The Company evaluates each performance obligation to determine if it can be satisfied at a point in time or over time. Any change made to estimated progress towards completion of a performance obligation and, therefore, revenue recognized will be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. Collaboration Revenue If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in a contract, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from the allocated transaction price. The Company evaluates the measure of progress at each reporting period and, if necessary, adjusts the measure of performance and related revenue or expense recognition as a change in estimate. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being reached. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s or a collaboration partner’s control, such as regulatory approvals, are generally not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones that are within its or a collaboration partner’s control, such as operational development milestones and any related constraint, and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which will affect collaboration revenues and earnings in the period of adjustment. Revisions to the Company’s estimate of the transaction price may also result in negative collaboration revenues and earnings in the period of adjustment. For arrangements that include sales-based royalties, including commercial milestone payments based on the level of sales, and a license is deemed to be the predominant item to which the royalties relate, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied. In September 2019, the Company entered into a Collaboration and License Agreement, or the Mundipharma Collaboration Agreement, with Mundipharma Medical Company, or Mundipharma. The Company concluded that there were three performance obligations under the Mundipharma Collaboration Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. In March 2021, the Company entered into an exclusive worldwide license and collaboration agreement, or the Janssen Collaboration Agreement, with Janssen Pharmaceuticals, Inc., or Janssen, one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The Company concluded that there were three performance obligations under the Janssen Collaboration Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. In July 2022, the Company entered into a License Agreement with Melinta, or the Melinta License Agreement. The Company concluded that there were three performance obligations under the Melinta License Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. The Company concluded that progress towards completion of the research and development and clinical supply performance obligations related to the Mundipharma Collaboration Agreement and the Melinta License Agreement, is best measured in an amount proportional to the collaboration expenses incurred and the total estimated collaboration expenses. The Company periodically reviews and updates the estimated collaboration expenses, when appropriate, which may adjust revenue recognized for the period. While such changes to the Company’s estimates have no impact on the Company’s reported cash flows, the amount of revenue recorded in the period could be materially impacted. Revenue from research and development services for the Janssen Collaboration Agreement is recognized based on actual amounts billed as the underlying services are provided and billed at market rates. The transaction prices to be recognized as revenue under both the Mundipharma Collaboration Agreement and the Janssen Collaboration Agreement consist of upfront payments, estimated reimbursable research and development and clinical supply costs, and milestones achieved to date. The transaction price to be recognized as revenue under the Melinta License Agreement consists of an upfront payment and milestones achieved to date. Potential future payments for variable consideration, such as clinical, regulatory or commercial milestones, will be recognized when it is probable that, if recorded, a significant reversal will not take place. Potential future royalty payments will be recorded as revenue when the associated sales occur. See Note 9 for additional information. Product Revenue In December 2022 and January 2023, the Company entered into separate Commercial Supply Agreements with Mundipharma and Melinta, respectively, for the batch supply of REZZAYO naked vials for commercial use. Under the Commercial Supply Agreements, Mundipharma and Melinta are required to submit purchase orders to the Company for batches of REZZAYO naked vials. The Company concluded that the delivery of each batch of REZZAYO naked vials and the related quality assessment certification represents a distinct performance obligation. The transaction price to be recognized as revenue for each performance obligation under the Commercial Supply Agreements consists of variable consideration which is determined based on the estimated per vial costs, plus the contractually stated margin rate. The amounts recognized as revenue are adjusted, as needed, each reporting period based on actual costs incurred for each batch. Variable consideration is included in the transaction price only to the extent that it is considered probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The Company has made an accounting policy election to exclude from the transaction price any indirect taxes collected from customers. As a result, any such collections are recorded as indirect taxes liabilities. The transaction price will be fully allocated to the single performance obligation. The Company concluded that the performance obligation is satisfied and product revenue is recognized when the customer obtains control of the product, which occurs at a point in time, typically upon the later of (i) completion of a positive quality assessment, or (ii) shipment of the Company’s product to the customer. Shipping and handling activities that are performed after a customer obtains control of the product are treated as activities to fulfill the promise to a customer and any amounts billed to a customer represent revenues for the product provided. Costs related to such shipping and handling billings are classified as cost of product revenue. Cost of Product Revenue Cost of product revenue consists primarily of costs related to materials, third-party contract manufacturing, freight-in and overhead. Prior to regulatory approval, all direct and indirect manufacturing costs were charged to research and development expense in the period incurred. Research and Development Costs R&D expenses consist of wages, benefits and stock-based compensation charges for research and development employees, scientific consultant fees, facilities and overhead expenses, laboratory supplies, manufacturing expenses in preclinical development and certain manufacturing expenses before FDA approval, nonclinical and clinical trial costs, and indirect taxes on clinical supplies and development materials. The Company accrues nonclinical and clinical trial expenses based on work performed, which relies on estimates of total costs incurred based on patient enrollment, completion of studies, and other events. Costs incurred in purchasing technology assets and intellectual property are charged to research and development expense if the technology has not been conclusively proven to be feasible and has no alternative future use. Selling, General and Administrative Expenses SG&A expenses relate to selling, finance, human resources, legal and other administrative activities. SG&A expenses consist primarily of salaries and related benefits, including stock-based compensation, related to our executive, finance, legal, business development, commercial planning and support functions. Other SG&A expenses include facility and overhead costs not otherwise included in cost of product revenue or research and development expenses, consultant expenses, travel expenses, professional fees for auditing, tax, legal, and other services, the branded prescription drug fee, and any accrued interest and penalties on accrued indirect tax liabilities. Preclinical and Clinical Trial Accruals The Company makes estimates of its accrued expenses as of each balance sheet date in the financial statements based on the facts and circumstances known at that time. Accrued expenses for preclinical studies and clinical trials are based on estimates of costs incurred and fees that may be associated with services provided by contract research organizations, or CROs, clinical trial investigational sites and other clinical trial-related activities. Payments under certain contracts with such parties depend on factors such as successful enrollment of patients, site initiation and the completion of clinical trial milestones. In accruing for these services, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If possible, the Company obtains information regarding unbilled services directly from these service providers. However, the Company may be required to estimate these services based on other available information. If the Company underestimates or overestimates the activities or fees associated with a study or service at a given point in time, adjustments to research and development expenses may be necessary in future periods. Historically, estimated accrued liabilities have approximated actual expense incurred. Subsequent changes in estimates may result in a material change in accruals. Stock-Based Compensation The Company accounts for stock-based compensation expense related to stock options, restricted stock units, or RSUs, performance-based RSUs, or PRSUs, and Employee Stock Purchase Plan, or ESPP, rights by estimating the fair value on the date of grant. The Company estimates the fair value of stock options granted to employees and non-employees using the Black-Scholes option pricing model. The fair value of RSUs and PRSUs granted to employees is estimated based on the closing price of the Company’s common stock on the date of grant. The assumptions included in the Black-Scholes option pricing model include (a) the risk-free interest rate, (b) the expected volatility of the Company’s stock, (c) the expected term of the award, and (d) the expected dividend yield. The Company computed the expected volatility data using the daily close prices for the Company’s common stock during the equivalent period of the calculated expected term of the Company’s stock-based awards. The Company estimated the expected life of employee stock options using the “simplified” method, whereby the expected life equals the average of the vesting term and the original contractual term of the option. The risk-free interest rates for periods within the expected life of the option are based on the yields of zero-coupon U.S. treasury securities. The expected dividend yield of zero reflects that the Company has not paid cash dividends since inception and does not intend to pay cash dividends in the foreseeable future. For awards subject to time-based vesting conditions, including those with a graded vesting schedule, stock-based compensation expense is recognized using the straight-line method. For performance-based awards to employees, (i) the fair value of the award is determined on the grant date, (ii) the Company assesses the probability of the individual performance milestones under the award being achieved and (iii) the fair value of the shares subject to the milestone is expensed over the implicit service period commencing once management believes the performance criteria is probable of being met. The Company recognizes forfeitures related to stock-based compensation as they occur and any compensation cost previously recognized for awards for which the requisite service has not been completed is reversed in the period that the award is forfeited. Net Loss Per Share Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and dilutive stock equivalents outstanding for the period determined using the treasury stock method or if-converted method. Under the two-class method, the net loss attributable to common stockholders is not allocated to the Series X Convertible Preferred Stock as the preferred stockholders do not have a contractual obligation to share in the Company’s losses. For all periods presented, basic and diluted net loss per share are identical because the otherwise dilutive potential common shares become anti-dilutive and are therefore excluded. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of basic and diluted net loss per share because doing so would be anti-dilutive (in common stock equivalent shares): December 31, 2023 2022 Common stock warrants 17,331 12,517,328 Series X Convertible Preferred Stock 21,044,720 18,184,720 Common stock options, RSUs and PRSUs issued and outstanding 12,764,068 9,323,495 Total 33,826,119 40,025,543 Fair Value of Financial Instruments The Company follows ASC 820-10, Fair Value Measurements and Disclosures , or ASC 820-10, with respect to fair value reporting for financial assets and liabilities. The guidance defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, accrued compensation and benefits, and lease liabilities. The carrying amount of these financial instruments are generally considered to be representative of their respective fair values because of their short-term nature. Recently Issued and Recently Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies that are adopted by the Company as of the specified effective date. In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities to disclose disaggregated information about their effective tax rate reconciliation as well as expanded information on income taxes paid by jurisdiction. The disclosure requirements will be applied on a prospective basis, with the option to apply them retrospectively. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt this guidance for the fiscal year ending December 31, 2025 and believes, based on its preliminary assessment, that this new guidance will not have a material impact on the Company’s consolidated financial statements or related disclosures. The Company believes, based on its preliminary assessment, that any other recently issued, but not yet adopted, accounting pronouncements will not have a material impact on the Company’s consolidated financial statements or related disclosures, or do not apply to the Company.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company follows ASC 820-10, which among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions, which reflect those that a market participant would use. The Company classifies investments in money market accounts within Level 1 as the prices are available from quoted prices in active markets. None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. The following tables summarize the Company’s financial instruments measured at fair value on a recurring basis (in thousands): TOTAL LEVEL 1 LEVEL 2 LEVEL 3 December 31, 2023 Assets: Cash and money market accounts $ 35,778 $ 35,778 $ — $ — Total assets at fair value $ 35,778 $ 35,778 $ — $ — December 31, 2022 Assets: Cash and money market accounts $ 32,731 $ 32,731 $ — $ — Total assets at fair value $ 32,731 $ 32,731 $ — $ —

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory consisted of the following (in thousands): December 31, 2023 2022 Raw materials $ 2,691 $ — Work-in-process 3,406 — Finished goods — — Total inventory $ 6,097 $ — The Company’s capitalized inventory consists of costs incurred subsequent to FDA approval of REZZAYO in March 2023. Prior to regulatory approval, all direct and indirect manufacturing costs were charged to research and development expense in the period incurred. There were no inventory write downs during the year ended December 31, 2023.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment consists of the following (in thousands): December 31, 2023 2022 Laboratory equipment $ 2,817 $ 2,415 Leasehold improvements 425 425 Computer hardware and software 327 305 Office equipment 36 93 Furniture and fixtures 142 142 3,747 3,380 Less accumulated depreciation and amortization (3,190) (3,158) Total $ 557 $ 222 Depreciation and amortization of property and equipment of $0.1 million and $0.1 million were recorded for the years ended December 31, 2023, and 2022, respectively.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Term Loan On October 3, 2016, the Company entered into a loan and security agreement, or the Loan Agreement, with Pacific Western Bank, as the collateral agent and a lender, or the Lender, pursuant to which the Company has borrowed $10.0 million from the Lender, or the Term A Loan. The Term A Loan bore interest at a variable annual rate equal to the greater of (i) 4.50% or (ii) the Lender’s prime interest rate plus 0.75%, and matured on July 3, 2022. The Term A Loan had an interest-only period through April 3, 2020, which was followed by equal monthly principal payments and was paid in full on July 5, 2022.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Controlled Equity Sales Agreement In September 2019, the Company began to sell shares of common stock under a controlled equity sales agreement, or the Sales Agreement, entered into on November 8, 2018 with Cantor Fitzgerald & Co, or Cantor. During the years ended December 31, 2023 and 2022, the Company sold 6,219,741 and 3,414,926 shares of common stock for net proceeds of approximately $8.7 million and $2.4 million, respectively, after deducting placement agent fees. As of December 31, 2023, the remaining capacity under the Sales Agreement is $37.1 million. 2023 Underwritten Public Offering On March 7, 2023, the Company completed concurrent but separate underwritten public offerings with Cantor, the underwriter, to issue and sell 11,086,000 shares of its common stock, including the exercise in full by Cantor of their option to purchase an additional 1,446,000 shares of common stock, and 286,000 shares of the Company’s Series X Convertible Preferred Stock. Cantor agreed to purchase the shares of common stock at a price of $1.267 per share and the shares of Series X Convertible Preferred Stock at a price of $12.67 per share. The total gross proceeds from the offerings, including the full exercise by Cantor of its option to purchase additional shares of common stock, were approximately $19.5 million, before deducting underwriting discounts and commissions and offering expenses. The Company received total net proceeds of approximately $17.3 million, after deducting underwriting discounts, commissions, and other expenses payable by the Company. Preferred Stock Under the amended and restated certificate of incorporation, the Company’s board of directors has the authority, without further action by the stockholders, to issue up to 10,000,000 shares of preferred stock in one or more series, to establish from time to time the number of shares to be included in each such series, to fix the rights, preferences and privileges of the shares of each wholly unissued series and any qualifications, limitations or restrictions thereon and to increase or decrease the number of shares of any such series, but not below the number of shares of such series then outstanding. The Company had 10,000,000 shares of preferred stock authorized at December 31, 2023. In May 2018, the Company designated 5,000,000 shares of preferred stock as Series X Convertible Preferred Stock with a par value of $0.0001 per share. On August 12, 2020, at the request of certain holders, 52,241 shares of the Company’s Series X Convertible Preferred Stock were converted to an aggregate of 522,410 shares of the Company’s common stock. As of December 31, 2023 and 2022 shares of preferred stock designated as Series X Convertible Preferred Stock totaled 4,947,759. The specific terms of the Series X Convertible Preferred Stock are as follows: Conversion: Each share of Series X Convertible Preferred Stock is convertible at the option of the holder into 10 shares of common stock. Holders are not permitted to convert Series X Convertible Preferred Stock into common stock if, after conversion, the holder, its affiliates, and any other person whose beneficial ownership of common stock would be aggregated with the holder’s for purposes of Section 13(d) or Section 16 of the Exchange Act, would beneficially own more than 9.99% of the number of shares of common stock outstanding immediately after the conversion. Dividends: Holders of Series X Convertible Preferred Stock are not entitled to receive any dividends except to the extent that dividends are paid on the Company’s common stock. If dividends are paid on shares of common stock, holders of Series X Convertible Preferred Stock are entitled to participate in such dividends on an as-converted basis. Liquidation: Upon the liquidation, dissolution, or winding up of the Company, each holder of Series X Convertible Preferred Stock will participate pari passu with any distribution of proceeds to holders of common stock. Voting: Shares of Series X Convertible Preferred Stock will generally have no voting rights, except as required by law and except that the consent of the holders of a majority of the outstanding Series X Convertible Preferred Stock will be required to amend the terms of the Series X Convertible Preferred Stock , if such action would adversely alter or change the preferences, rights, privileges or powers of, or restrictions provided for the benefit of the Series X Convertible Preferred Stock, or to increase or decrease (other than by conversion) the number of authorized shares of Series X Convertible Preferred Stock. The Company evaluated the Series X Convertible Preferred Stock for liability or equity classification under ASC 480, Distinguishing Liabilities from Equity , and determined that equity treatment was appropriate because the Series X Convertible Preferred Stock did not meet the definition of liability instruments defined thereunder as convertible instruments. Additionally, the Series X Convertible Preferred Stock is not redeemable for cash or other assets (i) on a fixed or determinable date, (ii) at the option of the holder, and (iii) upon the occurrence of an event that is not solely within control of the Company. As such, the Series X Convertible Preferred Stock is recorded as permanent equity. Common Stock The Company had 200,000,000 shares of common stock authorized as of December 31, 2023. Holders of outstanding shares of common stock are entitled to one vote for each share held of record on all matters submitted to a vote of the holders of common stock. Subject to the rights of the holders of any class of the Company’s capital stock having any preference or priority over common stock, the holders of common stock are entitled to receive dividends that are declared by the Company’s board of directors out of legally available funds. In the event of a liquidation, dissolution or winding-up, the holders of common stock are entitled to share ratably in the net assets remaining after payment of liabilities, subject to prior rights of preferred stock, if any, then outstanding. The common stock has no preemptive rights, conversion rights, redemption rights or sinking fund provisions, and there are no dividends in arrears or default. All shares of common stock have equal distribution, liquidation and voting rights, and have no preferences or exchange rights. Common Stock Warrants As of December 31, 2023, warrants to purchase 17,331 shares of the Company’s common stock were outstanding with a weighted average exercise price of $11.54 per share. During the year ended December 31, 2023, 12,499,997 common stock warrants expired unexercised. As of December 31, 2022, warrants to purchase 12,517,328 shares of the Company’s common stock were outstanding with a weighted average exercise price of $6.82 per share. The warrants had no intrinsic value at December 31, 2023 and 2022. The intrinsic value of a common stock warrant is the difference between the market price of the common stock at the measurement date and the exercise price of the warrant. Common Stock Reserved for Future Issuance Common stock reserved for future issuance is as follows (in common stock equivalent shares): December 31, 2023 2022 Common stock warrants 17,331 12,517,328 Series X Convertible Preferred Stock 21,044,720 18,184,720 Common stock options, RSUs and PRSUs issued and outstanding 12,764,068 9,323,495 Authorized for future stock awards 3,411,463 4,469,969 Awards available under the ESPP 987,756 806,968 Total 38,225,338 45,302,480

EQUITY INCENTIVE PLANS

EQUITY INCENTIVE PLANS	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
EQUITY INCENTIVE PLANS	EQUITY INCENTIVE PLANS 2020 Inducement Incentive Plan and 2015 Equity Incentive Plan In December 2020, the Company’s board of directors approved and adopted the 2020 Inducement Incentive Plan, or 2020 IIP. Under the 2020 IIP, the Company may grant stock options, stock appreciation rights, restricted stock, RSUs, and other awards to individuals who were not previously employees or directors of the Company, or who are returning to employment following a bona fide period of non-employment with the Company, as an inducement material to such persons entering into employment with the Company. In March 2015, the Company’s board of directors and stockholders approved and adopted the 2015 Equity Incentive Plan, or 2015 EIP. Under the 2015 EIP, the Company may grant stock options, stock appreciation rights, restricted stock, RSUs, and other awards to individuals who are employees, officers, directors or consultants of the Company. The number of shares of stock available for issuance under the 2015 EIP is automatically increased each January 1 by 4% of the outstanding number of shares of the Company’s common stock on the immediately preceding December 31 or such lesser number as determined by the Company’s board of directors. Terms of stock award agreements, including vesting requirements, are determined by the board of directors, subject to the provisions of the 2020 IIP and 2015 EIP. Stock options granted by the Company generally vest over a three 2015 Employee Stock Purchase Plan In March 2015, the Company’s board of directors and stockholders approved and adopted the 2015 Employee Stock Purchase Plan, or the ESPP. The number of shares of stock available for issuance under the ESPP will be automatically increased each January 1 by the lesser of (i) 1% of the outstanding number of shares of the Company’s common stock on the immediately preceding December 31, (ii) 490,336 shares, or (iii) such lesser number as determined by the Company’s board of directors. The ESPP allows substantially all employees to purchase the Company’s common stock through a payroll deduction at a price equal to 85% of the lower of the fair market value of the stock as of the beginning or the end of each purchase period. An employee’s payroll deductions under the ESPP are limited to 15% of the employee’s eligible compensation. During the years ended December 31, 2023 and 2022, 309,548 and 363,596 shares, respectively, were issued pursuant to the ESPP. As of December 31, 2023, total unrecognized compensation expense related to the ESPP was immaterial and is expected to be recognized over approximately 0.4 years. Restricted Stock Units The following table summarizes RSU and PRSU activity during the year ended December 31, 2023: Number of Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 1,223,871 $ 1.47 RSUs and PRSUs granted 1,515,817 1.00 RSUs and PRSUs vested (490,520) 1.48 RSUs and PRSUs canceled (151,115) 1.29 Outstanding at December 31, 2023 2,098,053 $ 1.14 The weighted-average grant date fair value of RSUs and PRSUs granted by the Company during the year ended December 31, 2022 was $0.83 per share. The total fair value of RSUs and PRSUs vested during the years ended December 31, 2023 and 2022 was approximately $0.7 million and $1.6 million, respectively. At December 31, 2023, estimated unrecognized compensation expense related to RSUs and PRSUs granted was approximately $1.7 million. This unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 2 years. Stock Options The following table summarizes stock option activity during the year ended December 31, 2023: Number of Weighted Weighted Total Aggregate Outstanding at December 31, 2022 8,099,624 $ 2.78 6.65 $ 48 Options granted 3,233,558 1.02 Options exercised (25,750) 0.83 Options canceled (641,417) 3.12 Outstanding at December 31, 2023 10,666,015 $ 2.23 6.72 $ 57 Vested and expected to vest at December 31, 2023 10,666,015 $ 2.23 6.72 $ 57 Exercisable at December 31, 2023 7,236,987 $ 2.75 5.71 $ 54 The intrinsic value of a stock option is the difference between the market price of the common stock at the measurement date and the exercise price of the option. The weighted-average grant date fair value of stock options granted by the Company during the years ended December 31, 2023 and 2022 was $0.72 and $0.51, respectively, per share. As of December 31, 2023, total unrecognized share-based compensation expense related to unvested stock options was approximately $2.4 million. This unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 1.9 years. The following table summarizes the Black-Scholes option pricing model assumptions used to estimate the fair value of stock options granted to employees under the 2015 EIP and 2020 IIP and the shares purchasable under the 2015 ESPP during the periods presented: For the years ended December 31, 2023 2022 2015 EIP and 2020 IIP Risk-free interest rate 3.58% - 4.61% 1.39% - 4.02% Expected dividend yield 0% 0% Expected volatility 82% - 83% 70% - 75% Expected term (years) 5.50 - 6.08 5.50 - 6.08 2015 ESPP Risk-free interest rate 4.29% - 5.43% 1.57% - 2.65% Expected dividend yield 0% 0% Expected volatility 64% - 147% 75% - 98% Expected term (years) 0.50 - 2.00 0.50 - 2.00 Stock-based compensation expense recognized for RSUs, PRSUs, stock options, and the ESPP has been reported in the consolidated statements of operations and comprehensive loss as follows (in thousands): Years ended December 31, 2023 2022 Research and development $ 1,592 $ 1,760 Selling, general and administrative 1,469 1,945 Total $ 3,061 $ 3,705

SIGNIFICANT AGREEMENTS AND CONT

SIGNIFICANT AGREEMENTS AND CONTRACTS	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SIGNIFICANT AGREEMENTS AND CONTRACTS	SIGNIFICANT AGREEMENTS AND CONTRACTS Mundipharma Collaboration Agreement On September 3, 2019, the Company entered into the Mundipharma Collaboration Agreement with Mundipharma, a related party, for a strategic collaboration to develop and commercialize rezafungin in an intravenous formulation, or the Mundipharma Licensed Product, for the treatment and prevention of invasive fungal infections. Collaboration . Under the Mundipharma Collaboration Agreement, the Company is responsible for leading the conduct of an agreed global development plan, or the Global Development Plan, that includes the Company’s ongoing Phase 3 pivotal clinical trial of the Mundipharma Licensed Product for the treatment of candidemia and/or invasive candidiasis, or the ReSTORE Trial, and the Company’s ongoing Phase 3 pivotal clinical trial of the Mundipharma Licensed Product for the prophylaxis of invasive fungal infections in adult allogeneic blood and marrow transplant recipients, or the ReSPECT Trial, as well as specified GLP-compliant non‑clinical studies and chemistry, manufacturing and controls, or CMC, development activities for the Mundipharma Licensed Product. Mundipharma is responsible for performing all development activities, other than Global Development Plan activities, that may be necessary to obtain and maintain regulatory approvals for the Mundipharma Licensed Product outside of the U.S. and Japan, or the Mundipharma Territory, at Mundipharma’s sole cost. Licenses . Pursuant to the Mundipharma Collaboration Agreement, the Company granted Mundipharma an exclusive, royalty‑bearing license to develop, register and commercialize the Mundipharma Licensed Product in the Mundipharma Territory, subject to the Company’s retained right as described below. The Company also granted Mundipharma an option to obtain exclusive licenses to develop, register and commercialize rezafungin in a formulation for subcutaneous administration, or Subcutaneous Product, and in formulations for other modes of administration, or Other Products, in the Mundipharma Territory, subject to similar retained rights of the Company to conduct mutually agreed global development activities for such products. In addition, the Company granted Mundipharma a co‑exclusive, worldwide license to manufacture the Mundipharma Licensed Product and rezafungin. Until the seventh anniversary of the first commercial sale of the Mundipharma Licensed Product in the Mundipharma Territory, each party has granted the other party an exclusive, time-limited right of first negotiation to obtain a license to any anti-fungal product (other than Mundipharma Licensed Product, Subcutaneous Product and Other Products) that such party proposes to out-license in the other party’s territory. The Company’s Retained Rights. As of December 31, 2023, the Company retained the exclusive right to develop, register and commercialize the Mundipharma Licensed Product, Subcutaneous Product and Other Products in Japan, or the Company Territory, and Mundipharma has granted the Company certain licenses under Mundipharma-controlled technology and jointly-developed technology to develop, register and commercialize Mundipharma Licensed Product, Subcutaneous Product and Other Products in the Company Territory and to manufacture such products and rezafungin worldwide. Financial Terms . As of the execution of the Mundipharma Collaboration Agreement, the parties have agreed to share equally (50/50) the costs of Global Development Plan activities, or Global Development Costs, subject to a cap on Mundipharma’s Global Development Cost share of $31.2 million. The total potential transaction value is $568.4 million, including an equity investment, an up-front payment, global development funding, and certain development, regulatory, and commercial milestones. The Company is also eligible to receive double-digit royalties in the teens on tiers of annual net sales. Termination . Either party may terminate the Mundipharma Collaboration Agreement for uncured material breach by the other party. Mundipharma may terminate the Mundipharma Collaboration Agreement at will, provided that if Mundipharma terminates the Mundipharma Collaboration Agreement in its entirety prior to the last visit of the last patient in both the ReSTORE Trial and the ReSPECT Trial, Mundipharma will continue to be liable for its share of Global Development Costs as described above. The Company may terminate the Mundipharma Collaboration Agreement if Mundipharma or any of its affiliates or sublicensees, directly or indirectly through any third party, commences any interference or opposition proceeding with respect to, challenges the validity or enforceability of, or opposes any extension of or the grant of a supplementary protection certificate with respect to, any of the Company’s patent rights licensed to Mundipharma, or upon an insolvency event of Mundipharma. Revenue Recognition As of December 31, 2023, the Company determined the transaction price is equal to the up-front fee of $30.0 million, plus the research and development funding of $31.2 million, plus milestones achieved of $25.1 million. The common stock issued pursuant to the Mundipharma Stock Purchase Agreement was determined to be issued at fair market value after applying a lack of marketability discount as Mundipharma received restricted shares. Therefore, no additional premium or discount was allocated to the transaction price of the Mundipharma Collaboration Agreement for the share issuance. The transaction price was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In estimating the stand-alone selling price for each performance obligation, the Company utilized discounted cash flows and developed assumptions that required judgment and included forecasted revenues, expected development timelines, discount rates, probabilities of technical and regulatory success and costs for manufacturing clinical supplies. A description of the distinct performance obligations identified under the Mundipharma Collaboration Agreement, as well as the amount of revenue allocated to each distinct performance obligation, is as follows: Licenses of Intellectual Property. The license to the Company’s intellectual property, bundled with the associated know-how, represents a distinct performance obligation. The license and associated know-how was transferred to Mundipharma during September 2019, therefore the Company recognized the revenue related to this performance obligation in the amount of $17.9 million in September 2019 as collaboration revenue in its consolidated statements of operations and comprehensive loss. Research and Development Services. The Company and Mundipharma share equally in the costs of ongoing rezafungin clinical development in the Mundipharma Territory up to the specified cap, which represents a distinct performance obligation. The Company records these cost-sharing payments due from Mundipharma as collaboration revenue. The Company concluded that progress towards completion of the performance obligation related to the research and development services is best measured in an amount proportional to the research and development expenses incurred and the total estimated research and development expenses. Clinical Supply Services. The Company’s initial obligation to supply rezafungin for ongoing clinical development in the Mundipharma Territory represents a distinct performance obligation. The Company concluded that progress towards completion of the performance obligations related to the clinical supply services is best measured in an amount proportional to the clinical supply services expenses incurred and the total estimated clinical supply services. Milestone Payments. In November 2020, the Company achieved a $11.1 million milestone under the Mundipharma Collaboration Agreement, which is recorded as current contract liabilities as of December 31, 2023 because the rights to consideration is expected to be satisfied within one year. The Company received payment for this milestone in January 2021. Mundipharma is entitled to credit the full amount of this milestone payment toward future royalties payable to the Company, subject to a limit on the amount by which royalty payments to the Company may be reduced in any quarter. If Mundipharma has not fully credited the amount of such milestone payment toward royalties payable to the Company before the earlier of (i) December 31, 2024 and (ii) termination of the Mundipharma Collaboration Agreement by Mundipharma, the Company will be obligated to refund the uncredited portion of such milestone payment to Mundipharma on the earlier of such dates. As of December 31, 2023, the Company estimated the uncredited portion to be approximately $10.1 million in December 2024. In December 2021, August 2022, and December 2023, the Company achieved milestones of $2.8 million, $11.1 million, and $11.1 million, respectively, under the Mundipharma Collaboration Agreement that the Company deems to be tied to all the performance obligations identified in the original agreement. Revenue associated with these milestones has been allocated proportionately to the original transaction price which was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In conjunction with the performance obligations already delivered, revenue is recognized based on the progress of these performance obligations, the unrecognized portion is recorded as contract liabilities at the reporting period end and will be recognized as revenue over the remaining progress of these performance obligations. The Company received payment for these milestones achieved as of December 31, 2023 in January 2022, September 2022, and February 2024, respectively. The Company determined that as of December 31, 2023, all remaining potential milestone payments are probable of significant revenue reversal as their achievement is highly dependent on factors outside the Company’s control or are otherwise constrained under the variable consideration guidance. Therefore, these milestone payments have been fully constrained and are not included in the transaction price. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achievement of each milestone and any related constraint. In January 2024, the Company achieved a milestone of $2.8 million under the Mundipharma Collaboration Agreement for which the Company received payment in April 2024. Royalties. As the license is deemed to be the predominant item to which sales-based royalties relate, the Company will recognize royalty revenue when the related sales occur. No royalty revenue was recognized during the years ended December 31, 2023 and 2022. Janssen Collaboration Agreement On March 31, 2021, the Company and Janssen entered into the Janssen Collaboration Agreement to develop and commercialize one or more DFCs based on the Company’s Cloudbreak platform, for the prevention and treatment of influenza, including CD388 and CD377, or the Products. The effectiveness of the Janssen Collaboration Agreement, including the effectiveness of the terms and conditions described below, was subject to the expiration or earlier termination of all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, or HSR. HSR clearance was obtained on May 12, 2021 and the Janssen Collaboration Agreement became effective on the same date. Collaboration . The Company and Janssen will collaborate in the research, preclinical development and early clinical development of CD388 or another mutually-agreed influenza DFC development candidate, or, in each case, the Development Candidate, under a mutually-agreed research and development plan, or the Research Plan, with the objective of advancing such Development Candidate through the completion of mutually-agreed Phase 1 clinical trials and the first Phase 2 clinical trial, or Phase 2 Study. Unless otherwise agreed by the parties, the Company is responsible for performing, or having performed, all investigational new drug application, or IND, -enabling studies and clinical trials under the Research Plan, and the Company is the IND holder for the Research Plan clinical trials. Both parties will be responsible for conducting certain specified CMC development activities under the Research Plan. Janssen will be solely responsible, and reimburse the Company, for internal full-time equivalent and out-of-pocket costs incurred by the Company in performing Research Plan activities in accordance with a mutually-agreed budget. In September 2023 Janssen delivered its Election to Proceed Notice for CD388 whereby Janssen will assume the future development, manufacturing and commercialization activities of CD388 under the Janssen Collaboration Agreement. The Company continues to work in collaboration with Janssen to complete the Phase 1 and Phase 2a clinical trials and will be reimbursed for all ongoing development activities by Janssen as per the Janssen Collaboration Agreement. Following Janssen’s Election to Proceed Notice, Janssen, is obligated at its sole expense to diligently continue development and commercialization. Licenses . Upon the effectiveness of the Janssen Collaboration Agreement, the Company granted Janssen an exclusive, worldwide, royalty-bearing license to develop, register and commercialize Products, subject to the Company’s retained right to conduct Research Plan activities as described above. In addition, the Company granted Janssen an exclusive right of first negotiation until December 31, 2021, to negotiate and enter into a separate definitive agreement pursuant to which the parties would collaborate in the research and development of DFCs for the treatment or prevention of respiratory syncytial virus. This right of first negotiation expired on December 31, 2021. Non-Compete Covenant . The Company will covenant that, except for the performance of Research Plan activities, from the effectiveness of the Janssen Collaboration Agreement until the fifth anniversary of the completion of all Research Plan activities and the Company’s delivery to Janssen of all Research Plan deliverables, the Company and its affiliates will not directly or indirectly (including through any third-party contractor or through or in collaboration with any third-party licensee) develop, file any IND or application for marketing approval for, or commercialize any DFC that binds influenza or influenza viral proteins at therapeutic levels, except that the Company has the right to conduct limited internal research of such DFCs for the purposes of generating data to support patent filings and improving and further developing the Company’s DFC technology more broadly. The Company’s non-compete covenant described above will not apply to any DFC that demonstrates high specificity for a virus other than the influenza virus and does not possess significant activity against the influenza virus. Financial Terms . Upon the effectiveness of the Janssen Collaboration Agreement, Janssen paid the Company an upfront payment of $27.0 million. As of the execution of the Janssen Collaboration Agreement, the Company was eligible for reimbursement by Janssen of up to $58.2 million in research and development costs incurred in conducting Research Plan activities. The Company was also be eligible to receive up to $695.0 million in development, regulatory and commercial milestone payments, as well as royalties on tiers of annual net sales at rates from the mid-single digits to the high-single digits. Termination . In addition to the Company’s right to terminate the Janssen Collaboration Agreement for Janssen’s failure to deliver the Election to Proceed Notice prior to expiration of the Election Period, the Janssen Collaboration Agreement includes standard termination provisions upon material breach, insolvency or safety concerns. In addition, Janssen may terminate the Janssen Collaboration Agreement for convenience as follows: • prior to the completion of all Research Plan activities and the Company’s delivery to Janssen of all Research Plan deliverables, upon 90 days’ written notice to the Company, provided that if any clinical trial under the Research Plan is ongoing at the time of such termination, such clinical trial will be completed in accordance with the terms of the Janssen Collaboration Agreement; • after completion of the Phase 2 Study and before expiration of the Election Period, immediately upon written notice to the Company; or • after delivery of the Election to Proceed Notice, upon 90 days’ written notice to the Company, which termination may be of the Janssen Collaboration Agreement in its entirety or on a country-by-country or Product-by-Product basis. Revenue Recognition As of December 31, 2023, the Company determined the transaction price is equal to the up-front fee of $27.0 million, plus the research and development funding of $49.8 million, plus milestones achieved of $10.0 million. The transaction price includes the total estimated costs related to research and development and clinical supply services, which can increase or decrease as costs to continue the research and development efforts become known. No revenue was reversed due to the change in transaction price as revenue is recognized based on actual amounts billed. The transaction price was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In estimating the stand-alone selling price for each performance obligation, the Company utilized discounted cash flows and developed assumptions that required judgment and included forecasted revenues, expected development timelines, discount rates, probabilities of technical and regulatory success, costs to continue the research and development efforts and costs for manufacturing clinical supplies. A description of the distinct performance obligations identified under the Janssen Collaboration Agreement, as well as the amount of revenue allocated to each distinct performance obligation, is as follows: Licenses of Intellectual Property. The license to the Company’s intellectual property, bundled with the associated know-how, represents a distinct performance obligation. The license and associated know-how was transferred to Janssen in May 2021, therefore the Company recognized the revenue related to this performance obligation in the amount of $26.8 million, as restated, in May 2021 as collaboration revenue in its consolidated statements of operations and comprehensive loss. Research and Development Services. The research and development services to be performed represents a distinct performance obligation. The Company recognizes revenue based on actual amounts incurred as the underlying services are provided and billed at fair value. Clinical Supply Services. The Company’s initial obligation to supply drug supply for ongoing development represents a distinct performance obligation. The Company recognizes revenue based on actual amounts incurred as the underlying services are provided and billed at fair value. Milestone Payments. In March 2022 and September 2023, the Company achieved milestones of $3.0 million and $7.0 million, respectively, under the Janssen Collaboration Agreement that the Company deems to be tied to all the performance obligations identified in the original agreement. Revenue associated with these milestones has been allocated proportionately to the original transaction price which was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In conjunction with the performance obligations already delivered, revenue is recognized based on the progress of these performance obligations, the unrecognized portion is recorded as contract liabilities at the reporting period end and will be recognized as revenue over the remaining progress of these performance obligations. The Company received payment for these milestones in May 2022 and September 2023, respectively. The Company determined that as of December 31, 2023, all remaining potential milestone payments are probable of significant revenue reversal as their achievement is highly dependent on factors outside the Company’s control or are otherwise constrained under the variable consideration guidance. Therefore, these milestone payments have been fully constrained and are not included in the transaction price. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achievement of each milestone and any related constraint. Royalties. As the license is deemed to be the predominant item to which sales-based royalties relate, the Company will recognize royalty revenue when the related sales occur. No royalty revenue was recognized during the years ended December 31, 2023 and 2022. Melinta License Agreement On July 26, 2022, the Company entered into the Melinta License Agreement with Melinta under which the Company granted Melinta an exclusive license to develop and commercialize products that contain or incorporate rezafungin, or the Melinta Licensed Product, in the U.S., or the Melinta Territory. Licenses . Pursuant to the Melinta License Agreement, the Company granted Melinta an exclusive, royalty‑bearing license (including the right to sublicense through multiple tiers), to develop, register and commercialize the Melinta Licensed Product for all uses in humans and non-human animals in the Melinta Territory, subject to the Company’s retained right, as described below. Non-Compete Covenant . Until the fifth anniversary of the first commercial sale of the first Melinta Licensed Product in the Melinta Territory, neither the Company nor Melinta, nor any of their respective majority-owned subsidiaries may, directly or indirectly, itself or in collaboration with any third party, develop, manufacture for development or commercialization, or commercialize any product in the echinocandin class of drugs in the Melinta Territory without the other party’s prior written consent, subject to certain provisions in connection with a change of control of a party. Commercialization. Melinta is solely responsible for the commercialization of rezafungin in the Melinta Territory, at its sole expense. The Company’s Retained Rights. The Company retains the non-exclusive right to practice the intellectual property rights licensed to Melinta in the Melinta Territory solely for the purpose of performing its obligations under the Melinta License Agreement and Mundipharma Collaboration Agreement. The Company also retains the right to grant licenses under the intellectual property rights licensed to Melinta to third parties to which the Company has granted licenses or rights to market, promote and sell Melinta Licensed Product outside the Melinta Territory, to make and have made Melinta Licensed Product anywhere in the world solely to develop, register, use, sell, have sold, offer for sale, commercialize and import Melinta Licensed Product outside the Melinta Territory, subject to the terms of the Melinta License Agreement. Continued Development and Regulatory Activities. The Company is responsible, at its sole expense, for conducting an agreed upon development plan, or the Melinta Development Plan, that includes, among other activities, (a) completion of the ongoing ReSPECT Phase 3 pivotal clinical trial for the prophylaxis of invasive fungal infections in adult allogeneic blood and marrow transplant recipients, or the Prophylaxis Indication, (b) preparation and submission to the FDA of a supplemental new drug application, or sNDA, for the Melinta Licensed Product in the Prophylaxis Indication, (c) site close-out activity worldwide (outside of China) for the Company’s ReSTORE Phase 3 pivotal clinical trial for the treatment of candidemia and invasive candidiasis, or the Treatment Indication, (d) certain nonclinical studies and other nonclinical activities, (e) certain CMC activities for the Melinta Licensed Product, and (f) all other development activities that are required by the FDA to obtain marketing approval of the Melinta Licensed Product in the Treatment Indication and the Prophylaxis Indication in the Melinta Territory. The Company will remain the holder of the rezafungin IND and new drug application, or NDA. Both regulatory applications will transfer to Melinta on a transfer date determined based on the status of the ReSPECT trial and the associated sNDA for the Prophylaxis Indication, after which Melinta will be responsible for performing all activities that may be necessary to maintain NDA approvals for the Melinta Licensed Product in the Treatment Indication and the Prophylaxis Indication in the Melinta Territory, at Melinta’s sole expense, subject to Melinta’s right to deduct from royalties payable to the Company the internal expenses (not to exceed a specified dollar amount per calendar year) and certain out-of-pocket expenses incurred by Melinta. Supply and Transfer of CMC activities. Until Melinta assumes responsibility for the manufacture and supply of the Melinta Licensed Product for development and commercialization in the Melinta Territory, which it may do by direct purchase from the Company’s contract manufacturing organizations for the Melinta Licensed Product or by having a manufacturing technology transfer to Melinta or its designee performed at Melinta’s sole expense, which, in either case, will be no later than December 31, 2026, the Company will be responsible for the manufacture and supply of the Melinta Licensed Product for development and commercialization by Melinta in the Melinta Territory, and during such period, shall supply Melinta Licensed Product to Melinta pursuant to the terms of a supply agreement negotiated by the parties. Financial Terms. Upon execution of the Melinta License Agreement, the total potential transaction value is $460.0 million, including a $30.0 million upfront payment and up to $430.0 million in regulatory and commercial milestone payments. In addition, the Company is eligible to receive tiered royalties on U.S. sales in the low double digits to mid-teens. Termination. Either party may terminate the Melinta License Agreement for uncured material breach by the other party. After July 26, 2023, Melinta may terminate the Melinta License Agreement at will. The Company may terminate the Melinta License Agreement if Melinta or any of its affiliates or sublicensees, directly or indirectly through any third party, commences any interference or opposition proceeding with respect to, challenges the validity or enforceability of, or opposes any extension of or the grant of a supplementary protection certificate with respect to, any of the patent rights licensed to Melinta by the Company. Revenue Recognition As of December 31, 2023, the Company determined the transaction price is equal to the up-front fee of $30.0 million, plus a milestone achieved of $20.0 million. The transaction price was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In estimating the stand-alone selling price for each performance obligation, the Company utilized discounted cash flows and developed assumptions that required judgment and included forecasted revenues, expected development timelines, discount rates, probabilities of technical and regulatory success, costs to continue the research and development efforts and costs for manufacturing clinical supplies. A description of the distinct performance obligations identified under the Melinta License Agreement, as well as the amount of revenue allocated to each distinct performance obligation, is as follows: Licenses of Intellectual Property. The license to the Company’s intellectual property, bundled with the associated know-how, represents a distinct performance obligation. The license and associated know-how was transferred to Melinta in August 2022, therefore the Company recognized the revenue related to this performance obligation in the amount of $25.9 million in August 2022 as collaboration revenue in its consolidated statements of operations and comprehensive loss. Research and Development Services. The Company is required to provide research and development services, at its sole expense, as described under the Melinta Development Plan, which represents a distinct performance obligation. The Company concluded that progress towards completion of the performance obligation related to the research and development services is best measured in an amount proportional to the research and development expenses incurred and the total estimated research and development expenses. Clinical Supply Services. The Company’s obligation to supply rezafungin for ongoing clinical development in the Melinta Territory represents a distinct performance obligation. The Company concluded that progress towards completion of the performance obligations related to the clinical supply services is best measured in an amount proportional to the clinical supply services expenses incurred and the total estimated clinical supply services. Revenue related to the clinical supply services performance obligation recognized during the year ended December 31, 2023 was immaterial. Milestone Payments. In March 2023, the Company achieved a $20.0 million milestone under the Melinta License Agreement that the Company deems to be tied to all the performance obligations identified in the original agreement. Revenue associated with the milestone has been allocated proportionately to the original transaction price which was allocated to the performance obligations on the basis of the relative stand-alone selling price estimated for each performance obligation. In conjunction with the performance obligations already delivered, revenue is recognized based on the progress of these performance obligations, the unrecognized portion is recorded as contract liabilities at the reporting period end and will be recognized as revenue over the remaining progress of these performance obligations. The Company received payment for this milestone in April 2023. The Company determined that as of December 31, 2023, all remaining potential milestone payments are probable of significant revenue reversal as their achievement is highly dependent on factors outside the Company’s control or are otherwise constrained under the variable consideration guidance. Therefore, these milestone payments have been fully constrained and are not included in the transaction price. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achievement of each milestone and any related constraint. Royalties. As the license is deemed to be the predominant item to which sales-based royalties relate, the Company will recognize royalty revenue when the related sales occur. The Company recognized $0.2 million in royalty revenue during the year ended December 31, 2023 following the commercial launch of REZZAYO by Melinta in the U.S. on July 31, 2023. No royalty revenue was recognized during the year ended December 31, 2022. Costs to Obtain a Contract with a Customer The Company incurred costs to a third party to obtain the Melinta License Agreement and capitalized $2.0 million upon execution of the Melinta License Agreement, and capitalized an additional $0.5 million upon achievement of a milestone, in accordance with ASC 340, Other Assets and Deferred Costs . The Company incurred these costs in connection with all the performance obligations identified in the Melinta License Agreement and allocated the capitalized contract costs to performance obligations on a relative basis (i.e., in proportion to the transaction price allocated to each performance obligation) to determine the period of amortization. The Company recognized expense during the years ended December 31, 2023 and 2022 of $0.5 million and $1.8 million, respectively, and is included within SG&A expenses in the Company’s consolidated statements of operations and comprehensive loss. As of December 31, 2023, the remaining balance of the asset recognized from costs to obtain the Melinta License Agreement was $0.2 million. Contract Liabilities The following table presents a summary of the activity in the Company’s contract liabilities pertaining to the Mundipharma Collaboration Agreement, Janssen Collaboration Agreement, and Melinta Licens

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The tax provision for income taxes consisted of the following (in thousands): December 31, 2023 2022 Current tax provision: Federal $ 393 $ 248 State 50 24 Total current tax provision 443 272 Deferred tax provision: Federal — — State — — Total deferred tax provision — — Total tax provision $ 443 $ 272 The Company accounts for income taxes under ASC 740. Deferred income tax assets and liabilities are determined based upon differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes (in thousands): Years Ended December 31, 2023 2022 (As Restated) Federal income taxes at 21% for 2023 and 2022 $ (4,723) $ (7,029) State income tax, net of federal benefit (186) (247) Nondeductible expenses 260 415 Tax credits (2,076) (1,877) Rate change (54) 491 Change in valuation allowance 6,373 (19,684) Reserve for uncertain tax positions 519 (10,423) 162m deferred tax asset limitation 128 82 382 NOL and tax credit limitation — 37,513 Expired stock awards 174 1,052 Other 28 (21) Income tax expense $ 443 $ 272 Current year tax expense is primarily the result of capitalized Internal Revenue Code, or IRC, Section 174 research and development expenditures, effective January 1, 2022, creating taxable income which can be offset with net operating losses and credits that are limited in use by IRC Sections 382 and 383. Significant components of the Company’s net deferred tax assets are as follows (in thousands): December 31, 2023 2022 (As Restated) Deferred tax assets: Net operating losses $ 35,506 $ 42,043 Tax credits 9,747 9,327 Intangibles 136 160 Capitalized R&D 25,871 14,706 Stock compensation 1,424 1,385 Lease liabilities 1,112 275 Deferred revenue 5,951 5,620 Accrued indirect tax liabilities 4,114 2,617 Other 725 1,018 Total deferred tax assets 84,586 77,151 Less valuation allowance (83,086) (76,713) Deferred tax assets, net of valuation allowance 1,500 438 Deferred tax liabilities: Prepaid expenses (214) (189) Capitalized inventory costs (244) — Right-of-use assets (1,042) (249) Total deferred tax liabilities (1,500) (438) Net deferred tax assets $ — $ — At December 31, 2023, the Company had federal and state tax net operating loss carryforwards of approximately $153.8 million and $131.2 million, respectively. The federal and state net operating loss carryforwards begin to expire in 2035 and 2029, respectively, unless previously utilized. The Company also has federal research and development credit and orphan drug credit carryforwards totaling $9.5 million and state research and development credit carryforwards totaling $5.3 million. The federal research and development credit and orphan drug credit carryforwards begin to expire in 2035, unless previously utilized. The state research and development credit carryforwards begin to expire in 2029, with the exception of $5.3 million which have no expiration date. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. Based on the weight of all evidence, including a history of operating losses, management has determined that it is more likely than not that the net deferred tax assets will not be realized. The valuation allowance increased by $6.4 million in 2023 and decreased by $19.7 million in 2022. Future utilization of the Company’s net operating loss and tax credit carryforwards to offset future taxable income may be subject to an annual limitation, pursuant to IRC Sections 382 and 383, as a result of ownership changes that may have occurred or that could occur in the future. An ownership change occurs when a cumulative change in ownership of more than 50% occurs within a three-year period. The Company has completed an IRC Section 382/383 analysis regarding the limitation of net operating loss and research and development credit carryforwards through 2023 and has adjusted the attributes for their estimated limitation. The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more likely than not recognition at the effective date to be recognized. At December 31, 2023 and 2022, the unrecognized tax benefits recorded were approximately $11.5 million and $11.0 million, respectively. Approximately $9.7 million of the unrecognized tax benefits would reduce the Company’s annual effective tax rates, if recognized, subject to the valuation allowance. The Company adjusted the uncertain tax position in the current year on certain attributes related to the IRC Section 382/383 analysis performed in the current year. The Company does not anticipate a significant change in the unrecognized tax benefits within the next 12 months. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2023 and 2022 is as follows (in thousands): Years Ended December 31, 2023 2022 (As Restated) Balance as of the beginning of the year $ 11,015 $ 23,990 Increases related to current year tax positions 552 497 Decreases related to prior year tax positions (47) (13,472) Balance as of the end of the year $ 11,520 $ 11,015 The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by the U.S. and state jurisdictions where applicable. There are currently no pending income tax examinations. The Company’s tax years from inception in 2013 are subject to examination by the federal and state tax authorities due to the carryforward of unutilized net operating losses and research and development credits. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company has not recognized interest or penalties since inception.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation From time to time, the Company may be involved in various lawsuits, legal proceedings, or claims that arise in the ordinary course of business. Management believes there are no claims or actions pending against the Company at December 31, 2023 which will have, individually or in the aggregate, a material adverse effect on its business, liquidity, financial position or results of operations. Litigation, however, is subject to inherent uncertainties, and an adverse result in such matters may arise from time to time that may harm the Company’s business. Finance Lease Obligations The Company has a finance lease for lab equipment which was entered into in November 2023. The finance lease has a term of 36 months, monthly lease payments of $25,009, and an option to purchase the lab equipment for $1 at the end of the finance lease term. As of December 31, 2023, the Company was reasonably certain that it would exercise the option to purchase the lab equipment at the end of the finance lease term. The useful life of the lab equipment is estimated to be 10 years. The rate implicit to the finance lease used in measuring the Company’s finance lease liability was 8.0%. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s finance lease as of December 31, 2023 (in thousands): 2024 $ 275 2025 300 2026 300 2027 25 Total undiscounted finance lease payments 900 Less: Imputed interest (107) Present value of finance lease payments $ 793 The balance sheet classification of the Company’s finance lease is as follows (in thousands): Balance Sheet Classification: Finance lease right-of-use asset $ 788 Accumulated amortization (6) Net finance lease right-of-use asset $ 782 Current portion of finance lease liability $ 218 Long-term finance lease liability 575 Total finance lease liabilities $ 793 As of December 31, 2023, the weighted average remaining finance lease term was 3.1 years. Cash paid for amounts included in the measurement of finance lease liabilities was zero for the year ended December 31, 2023. Finance lease costs were immaterial for the year ended December 31, 2023. Operating Lease Obligations The Company has an operating lease for laboratory and office space in San Diego, California which was entered into in June 2014. Amendments for additional space were entered into in February 2015, March 2015 and August 2015. On April 20, 2023, the Company entered into a seventh amendment to its operating lease with Nancy Ridge Technology Center, L.P. which extended the term of the operating lease by an additional 36 months and increases the base rent to $133,371 per month effective January 1, 2024, subject to 4% increases every January. The operating lease expires on December 31, 2026 with options for two individual two-year extensions, as described in the original lease agreement, which have not been exercised, and remain in effect and available to the Company. As of December 31, 2023, the Company was not reasonably certain that it would exercise the extension options, and therefore did not include these options in the determination of the total operating lease term for accounting purposes. The incremental borrowing rate used in measuring the Company’s operating lease liability was 12.0%. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating lease as of December 31, 2023 (in thousands): 2024 $ 1,600 2025 1,665 2026 1,731 Total undiscounted operating lease payments 4,996 Less: Imputed interest (912) Present value of operating lease payments $ 4,084 The balance sheet classification of the Company’s operating lease is as follows (in thousands): Balance Sheet Classification: Operating lease right-of-use asset $ 3,788 Current portion of operating lease liability $ 1,082 Long-term operating lease liability 3,002 Total operating lease liabilities $ 4,084 As of December 31, 2023, the weighted average remaining operating lease term was 3 years. Cash paid for amounts included in the measurement of operating lease liabilities was $1.3 million and $1.2 million for the years ended December 31, 2023 and 2022, respectively. Operating lease costs were $1.6 million and $1.3 million for the years ended December 31, 2023 and 2022, respectively. These costs are primarily related to the Company’s operating lease, but also include immaterial amounts for variable leases and short-term leases with terms greater than 30 days. Contractual Obligations The Company enters into contracts in the normal course of business with vendors for research and development activities, manufacturing, and professional services. These contracts generally provide for termination either on notice or after a notice period.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Restatement of Interim Financial Information (Unaudited) Due to the misstatements described in Note 1 above, the Company has restated its unaudited condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss, condensed consolidated statements of convertible preferred stock and stockholders’ equity (deficit), and condensed consolidated statements of cash flows for the quarterly periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023 and September 30, 2023. March 31, 2023 March 31, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 47,976 $ — $ 47,976 $ 36,488 $ — $ 36,488 Restricted Cash — — — 1,482 — 1,482 Accounts receivable 25,826 295 26,121 8,783 — 8,783 Prepaid expenses and other current assets 5,686 25 5,711 5,254 — 5,254 Total current assets 79,488 320 79,808 52,007 — 52,007 Property and equipment, net 270 — 270 239 — 239 Operating lease right-of-use asset 917 (81) 836 2,030 (184) 1,846 Other assets 1,061 — 1,061 1,019 — 1,019 Total assets $ 81,736 $ 239 $ 81,975 $ 55,295 $ (184) $ 55,111 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 3,980 46 4,026 2,861 — 2,861 Accrued liabilities 9,078 30 9,108 9,234 720 9,954 Accrued indirect tax liabilities — 11,795 11,795 — 7,942 7,942 Accrued compensation and benefits 5,843 — 5,843 3,079 — 3,079 Current contract liabilities 15,761 29 15,790 14,260 — 14,260 Current portion of operating lease liability 1,001 (81) 920 1,190 (100) 1,090 Current portion of term loan — — — 1,481 — 1,481 Total current liabilities 35,663 11,819 47,482 32,105 8,562 40,667 Long-term contract liabilities 19,236 150 19,386 17,229 — 17,229 Long-term operating lease liability — — — 1,004 (84) 920 Total liabilities 54,899 11,969 66,868 50,338 8,478 58,816 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (1) Series X Convertible Preferred stock (2) — — — — — — Common stock (3) 9 — 9 7 — 7 Additional paid-in capital 430,585 — 430,585 400,398 (720) 399,678 Accumulated deficit (403,757) (11,730) (415,487) (395,448) (7,942) (403,390) Total stockholders’ equity (deficit) 26,837 (11,730) 15,107 4,957 (8,662) (3,705) Total liabilities and stockholders’ equity (deficit) $ 81,736 $ 239 $ 81,975 $ 55,295 $ (184) $ 55,111 (1) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at March 31, 2023 and March 31, 2022 (2) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at March 31, 2023 and March 31, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at March 31, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at March 31, 2022 (3) Common stock, $0.0001 par value; 200,000,000 shares authorized at March 31, 2023 and March 31, 2022; 90,024,562 shares issued and outstanding at March 31, 2023 and 69,049,247 shares issued and outstanding at March 31, 2022 June 30, 2023 June 30, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 50,430 $ — $ 50,430 $ 24,637 $ — $ 24,637 Restricted cash — — — 370 — 370 Accounts receivable 5,483 — 5,483 4,833 — 4,833 Inventory 1,954 434 2,388 — — — Prepaid expenses and other current assets 4,373 — 4,373 6,706 — 6,706 Total current assets 62,240 434 62,674 36,546 — 36,546 Property and equipment, net 297 — 297 201 — 201 Operating lease right-of-use asset 4,388 (81) 4,307 1,764 (162) 1,602 Other assets 1,061 — 1,061 1,013 — 1,013 Total assets $ 67,986 $ 353 $ 68,339 $ 39,524 $ (162) $ 39,362 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 1,899 — 1,899 3,091 — 3,091 Accrued liabilities 10,022 — 10,022 8,567 — 8,567 Accrued indirect tax liabilities — 13,431 13,431 — 10,582 10,582 Accrued compensation and benefits 3,582 — 3,582 3,464 — 3,464 Current contract liabilities 14,975 — 14,975 14,730 — 14,730 Current portion of operating lease liability 942 (81) 861 1,233 (104) 1,129 Current portion of term loan — — — 370 — 370 Total current liabilities 31,420 13,350 44,770 31,455 10,478 41,933 Long-term contract liabilities 17,551 — 17,551 15,351 — 15,351 Long-term operating lease liability 3,601 — 3,601 679 (58) 621 Total liabilities 52,572 13,350 65,922 47,485 10,420 57,905 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (4) Series X Convertible Preferred stock (5) — — — — — — Common stock (6) 9 — 9 7 — 7 Additional paid-in capital 431,519 — 431,519 400,599 — 400,599 Accumulated deficit (416,114) (12,997) (429,111) (408,567) (10,582) (419,149) Total stockholders’ equity (deficit) 15,414 (12,997) 2,417 (7,961) (10,582) (18,543) Total liabilities and stockholders’ equity (deficit) $ 67,986 $ 353 $ 68,339 $ 39,524 $ (162) $ 39,362 (4) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at June 30, 2023 and June 30, 2022 (5) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at June 30, 2023 and June 30, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at June 30, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at June 30, 2022 (6) Common stock, $0.0001 par value; 200,000,000 shares authorized at June 30, 2023 and June 30, 2022; 90,251,746 shares issued and outstanding at June 30, 2023 and 69,238,508 shares issued and outstanding at June 30, 2022 September 30, 2023 September 30, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 48,670 $ — $ 48,670 $ 53,078 $ — $ 53,078 Accounts receivable 2,855 323 3,178 5,042 — 5,042 Inventory 2,467 434 2,901 — — — Prepaid expenses and other current assets 3,712 — 3,712 5,779 — 5,779 Total current assets 57,704 757 58,461 63,899 — 63,899 Property and equipment, net 580 — 580 173 — 173 Operating lease right-of-use asset 4,131 (81) 4,050 1,491 (137) 1,354 Other assets 1,053 — 1,053 1,295 — 1,295 Total assets $ 63,468 $ 676 $ 64,144 $ 66,858 $ (137) $ 66,721 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 3,661 — 3,661 4,244 — 4,244 Accrued liabilities 11,772 — 11,772 8,162 — 8,162 Accrued indirect tax liabilities — 14,689 14,689 — 11,314 11,314 Accrued compensation and benefits 4,457 — 4,457 4,117 — 4,117 Current contract liabilities 14,679 — 14,679 15,249 — 15,249 Current portion of operating lease liability 1,051 (81) 970 1,277 (108) 1,169 Total current liabilities 35,620 14,608 50,228 33,049 11,206 44,255 Long-term contract liabilities 16,504 — 16,504 24,398 — 24,398 Long-term operating lease liability 3,306 — 3,306 344 (29) 315 Total liabilities 55,430 14,608 70,038 57,791 11,177 68,968 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (7) Series X Convertible Preferred stock (8) — — — — — — Common stock (9) 9 — 9 7 — 7 Additional paid-in capital 432,315 — 432,315 402,649 — 402,649 Accumulated deficit (424,286) (13,932) (438,218) (393,589) (11,314) (404,903) Total stockholders’ equity (deficit) 8,038 (13,932) (5,894) 9,067 (11,314) (2,247) Total liabilities and stockholders’ equity (deficit) $ 63,468 $ 676 $ 64,144 $ 66,858 $ (137) $ 66,721 (7) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at September 30, 2023 and September 30, 2022 (8) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at September 30, 2023 and September 30, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at September 30, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at September 30, 2022 (9) Common stock, $0.0001 par value; 200,000,000 shares authorized at September 30, 2023 and September 30, 2022; 90,415,944 shares issued and outstanding at September 30, 2023 and 71,181,197 shares issued and outstanding at September 30, 2022 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 25,990 $ 117 $ 26,107 $ 7,109 $ 160 $ 7,269 Total revenues 25,990 117 26,107 7,109 160 7,269 Operating expenses: Research and development 18,715 154 18,869 20,166 215 20,381 General and administrative 4,298 159 4,457 5,204 138 5,342 Total operating expenses 23,013 313 23,326 25,370 353 25,723 Income (loss) from operations 2,977 (196) 2,781 (18,261) (193) (18,454) Other income (expense), net: Interest income (expense), net 232 — 232 (20) — (20) Total other income (expense), net 232 — 232 (20) — (20) Net income (loss) and comprehensive income (loss) 3,209 (196) 3,013 (18,281) (193) (18,474) Allocation of earnings to participating securities (677) 41 (636) — — — Net income (loss) attributable to common stockholders $ 2,532 $ (155) $ 2,377 $ (18,281) $ (193) $ (18,474) Basic net earnings (loss) per common share (10) $ 0.03 $ 0.03 $ (0.27) $ (0.27) Diluted net earnings (loss) per common share (10) $ 0.03 $ 0.03 $ (0.27) $ (0.27) Shares used to compute basic net earnings (loss) per common share 78,640,086 78,640,086 68,138,116 68,138,116 Shares used to compute diluted net earnings (loss) per common share 101,189,396 101,189,396 68,138,116 68,138,116 (10) As the Company was in an income position for the three-months ended March 31, 2023, the two-class method was used to compute basic net earnings per share and the Company calculated diluted net earnings per share based on the more dilutive of (1) the treasury stock method, reverse treasury stock method or if-converted method, as applicable, or (2) the two-class method. Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 7,614 $ (117) $ 7,497 $ 6,216 $ — $ 6,216 Total revenues 7,614 (117) 7,497 6,216 — 6,216 Operating expenses: Research and development 17,135 421 17,556 15,255 1,375 16,630 General and administrative 3,310 729 4,039 4,074 1,265 5,339 Total operating expenses 20,445 1,150 21,595 19,329 2,640 21,969 Loss from operations (12,831) (1,267) (14,098) (13,113) (2,640) (15,753) Other income (expense), net: Interest income (expense), net 623 — 623 (6) — (6) Total other income (expense), net 623 — 623 (6) — (6) Net loss before income tax expense (12,208) (1,267) (13,475) (13,119) (2,640) (15,759) Income tax expense (149) — (149) — — — Net loss and comprehensive loss $ (12,357) $ (1,267) $ (13,624) $ (13,119) $ (2,640) $ (15,759) Basic and diluted net loss per common share $ (0.14) $ (0.15) $ (0.19) $ (0.23) Shares used to compute basic and diluted net loss per common share 90,115,859 90,115,859 69,133,700 69,133,700 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 33,604 $ — $ 33,604 $ 13,325 $ 160 $ 13,485 Total revenues 33,604 — 33,604 13,325 160 13,485 Operating expenses: Research and development 35,850 575 36,425 35,421 1,590 37,011 General and administrative 7,608 888 8,496 9,278 1,403 10,681 Total operating expenses 43,458 1,463 44,921 44,699 2,993 47,692 Loss from operations (9,854) (1,463) (11,317) (31,374) (2,833) (34,207) Other income (expense), net: Interest income (expense), net 855 — 855 (26) — (26) Total other income (expense), net 855 — 855 (26) — (26) Loss before income tax expense (8,999) (1,463) (10,462) (31,400) (2,833) (34,233) Income tax expense (149) — (149) — — — Net loss and comprehensive loss $ (9,148) $ (1,463) $ (10,611) $ (31,400) $ (2,833) $ (34,233) Basic and diluted net loss per common share $ (0.11) $ (0.13) $ (0.46) $ (0.50) Shares used to compute basic and diluted net loss per common share 84,409,667 84,409,667 68,638,651 68,638,651 Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 11,250 $ — $ 11,250 $ 40,744 $ — $ 40,744 Product revenue 1,468 — 1,468 — — — Total revenues 12,718 — 12,718 40,744 — 40,744 Operating expenses: Cost of product revenue 387 — 387 — — — Research and development 17,330 59 17,389 20,041 242 20,283 General and administrative 3,556 876 4,432 5,780 490 6,270 Total operating expenses 21,273 935 22,208 25,821 732 26,553 Income (loss) from operations (8,555) (935) (9,490) 14,923 (732) 14,191 Other income, net: Interest income, net 613 — 613 55 — 55 Total other income, net 613 — 613 55 — 55 Net income (loss) before income tax expense (7,942) (935) (8,877) 14,978 (732) 14,246 Income tax expense (230) — (230) — — — Net income (loss) and comprehensive income (loss) (8,172) (935) (9,107) 14,978 (732) 14,246 Allocation of earnings to participating securities — — — (3,081) 150 (2,931) Net income (loss) attributable to common stockholders $ (8,172) $ (935) $ (9,107) $ 11,897 $ (582) $ 11,315 Basic net earnings (loss) per common share (11) $ (0.09) $ (0.10) $ 0.17 $ 0.16 Diluted net earnings (loss) per common share (11) $ (0.09) $ (0.10) $ 0.17 $ 0.16 Shares used to compute basic net earnings (loss) per common share 90,287,441 90,287,441 70,217,985 70,217,985 Shares used to compute diluted net earnings (loss) per common share 90,287,441 90,287,441 88,592,568 88,592,568 (11) As the Company was in an income position for the three-months ended September 30, 2022, the two-class method was used to compute basic net earnings per share and the Company calculated diluted net earnings per share based on the more dilutive of (1) the treasury stock method, reverse treasury stock method or if-converted method, as applicable, or (2) the two-class method. Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 44,854 $ — $ 44,854 $ 54,069 $ 160 $ 54,229 Product revenue 1,468 — 1,468 — — — Total revenues 46,322 — 46,322 54,069 160 54,229 Operating expenses: Cost of product revenue 387 — 387 — — — Research and development 53,180 634 53,814 55,462 1,832 57,294 General and administrative 11,164 1,764 12,928 15,058 1,893 16,951 Total operating expenses 64,731 2,398 67,129 70,520 3,725 74,245 Loss from operations (18,409) (2,398) (20,807) (16,451) (3,565) (20,016) Other income, net: Interest income, net 1,468 — 1,468 29 — 29 Total other income, net 1,468 — 1,468 29 — 29 Net loss before income tax expense (16,941) (2,398) (19,339) (16,422) (3,565) (19,987) Income tax expense (379) — (379) — — — Net loss and comprehensive loss $ (17,320) $ (2,398) $ (19,718) $ (16,422) $ (3,565) $ (19,987) Basic and diluted net loss per common share $ (0.20) $ (0.23) $ (0.24) $ (0.29) Shares used to compute basic and diluted net loss per common share 86,390,446 86,390,446 69,170,865 69,170,865 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net income (loss) $ 3,209 $ (196) $ 3,013 $ (18,281) $ (193) $ (18,474) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 640 — 640 1,338 — 1,338 Non-cash operating lease expense 288 (26) 262 258 (24) 234 Depreciation and amortization 32 — 32 39 — 39 Amortization of costs to obtain a contract with a customer 475 — 475 — — — Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable (19,993) (295) (20,288) (3,427) — (3,427) Prepaid expenses, other current assets, and other assets 872 (24) 848 (1,120) — (1,120) Accounts payable and accrued liabilities 3,116 76 3,192 657 — 657 Accrued indirect tax liabilities — 261 261 — 353 353 Accrued compensation and benefits 921 — 921 (1,953) — (1,953) Contract liabilities (142) 178 36 (844) (160) (1,004) Operating lease liabilities (316) 26 (290) (276) 24 (252) Net cash used in operating activities (10,898) — (10,898) (23,608) — (23,608) Investing activities: Purchases of property and equipment (94) — (94) (84) — (84) Net cash used in investing activities (94) — (94) (84) — (84) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,593 — 17,593 — — — Proceeds from public offering of common stock, net of issuance costs 8,630 — 8,630 500 — 500 Proceeds from exercise of stock options 14 — 14 — — — Principal repayments of Term Loan — — — (1,111) — (1,111) Net cash provided by (used in) financing activities 26,237 — 26,237 (611) — (611) Net increase (decrease) in cash and cash equivalents 15,245 — 15,245 (24,303) — (24,303) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 47,976 $ — $ 47,976 $ 37,970 $ — $ 37,970 Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 25 $ — $ 25 Non-cash investing activity: Purchases of property and equipment, included in accounts payable and accrued liabilities $ 55 $ — $ 55 $ 16 $ — $ 16 Non-cash financing activities: Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities $ 337 $ — $ 337 $ — $ 720 $ 720 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (9,148) $ (1,463) $ (10,611) $ (31,400) $ (2,833) $ (34,233) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,435 — 1,435 2,016 — 2,016 Non-cash operating lease expense 664 (25) 639 523 (47) 476 Depreciation and amortization 57 — 57 77 — 77 Amortization of costs to obtain a contract with a customer 40 — 40 — — — Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable 350 — 350 524 — 524 Inventory (1,954) (434) (2,388) — — — Prepaid expenses, other current assets, and other assets 2,120 — 2,120 (2,567) — (2,567) Accounts payable and accrued liabilities 2,870 — 2,870 (483) — (483) Accrued indirect tax liabilities — 1,897 1,897 — 2,993 2,993 Accrued compensation and benefits (1,277) — (1,277) (1,324) — (1,324) Contract liabilities (2,613) — (2,613) (2,252) (160) (2,412) Operating lease liabilities (620) 25 (595) (559) 47 (512) Net cash used in operating activities (8,076) — (8,076) (35,444) — (35,444) Investing activities: Purchases of property and equipment (201) — (201) (100) — (100) Net cash used in investing activities (201) — (201) (100) — (100) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,256 — 17,256 — — — Proceeds from public offering of common stock, net of issuance costs 8,706 — 8,706 500 — 500 Proceeds from exercise of stock options 14 — 14 — — — Principal repayments of Term Loan — — — (2,222) — (2,222) Net cash provided by (used in) financing activities 25,976 — 25,976 (1,722) — (1,722) Net increase (decrease) in cash and cash equivalents 17,699 — 17,699 (37,266) — (37,266) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 50,430 $ — $ 50,430 $ 25,007 $ — $ 25,007 Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 38 $ — $ 38 Income taxes paid $ 588 $ — $ 588 $ — $ — $ — Non-cash investing activity: Operating lease right-of-use asset obtained in exchange for lease liability $ 3,847 $ — $ 3,847 $ — $ — $ — Non-cash financing activities: Purchase of shares pursuant to Employee Stock Purchase Plan $ 63 $ — $ 63 $ 69 $ — $ 69 Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities $ — $ — $ — $ 720 $ — $ 720 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (17,320) $ (2,398) $ (19,718) $ (16,422) $ (3,565) $ (19,987) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 2,231 — 2,231 2,859 — 2,859 Non-cash operating lease expense 921 (26) 895 796 (72) 724 Depreciation and amortization 79 — 79 114 — 114 Amortization of costs to obtain a contract with a customer 53 — 53 1,772 — 1,772 Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable 2,978 (323) 2,655 314 — 314 Inventory (2,467) (434) (2,901) — — — Prepaid expenses, other current assets, and other assets 2,776 — 2,776 (1,662) — (1,662) Accounts payable and accrued liabilities 6,204 — 6,204 (1,037) — (1,037) Accrued indirect tax liabilities — 3,155 3,155 — 3,725 3,725 Accrued compensation and benefits (402) — (402) (670) — (670) Contract liabilities (3,956) — (3,956) 7,314 (160) 7,154 Operating lease liabilities (807) 26 (781) (850) 72 (778) Net cash used in operating activities (9,710) — (9,710) (7,471) — (7,471) Investing activities: Purchases of property and equipment (327) — (327) (109) — (109) Net cash used in investing activities (327) — (327) (109) — (109) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,256 — 17,256 — — — Proceeds from public offering of common stock, net of issuance costs 8,706 — 8,706 1,698 — 1,698 Proceeds from exercise of stock options 14 — 14 — — — Issuance costs for underwritten public offering — — — (720) — (720) Principal repayments of Term Loan — — — (2,593) — (2,593) Net cash provided by (used in) financing activities 25,976 — 25,976 (1,615) — (1,615) Net increase (decrease) in cash and cash equivalents 15,939 — 15,939 (9,195) — (9,195) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 48,670 $ — $ 48,670 $ 53,078 $ — $ 53,078 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 40 $ — $ 40 Income taxes paid $ 651 $ — $ 651 $ — $ — $ — Non-cash investing activity: Purchases of property and equipment, included in accounts payable and accrued liabilities $ 178 $ — $ 178 $ — $ — $ — Operating lease right-of-use asset obtained in exchange for lease liability $ 3,847 $ — $ 3,847 $ — $ — $ — Non-cash financing activities: Purchase of shares pursuant to Employee Stock Purchase Plan $ 63 $ — $ 63 $ 69 $ — $ 69 Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets $ — $ — $ — $ 10 $ — $ 10

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Reverse Stock Split At the Company’s special meeting of stockholders held on April 4, 2024, the Company’s stockholders approved a proposal to (i) amend the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s outstanding common stock at a ratio in the range of 1-for-10 to 1-for-30, inclusive; and (ii) if and only if the reverse stock split is approved and implemented, a reduction in the number of authorized shares of common stock, at a ratio that is equal to half of the reverse stock split ratio, with such ratio to be determined in the discretion of the Company’s board of directors and with such reverse stock split to be effected at such time and date, if at all, as determined by the Company’s board of directors in its sole discretion. On April 12, 2024, the Company’s board of directors approved a reverse stock split of all outstanding shares of the Company’s common stock at a ratio of 1-for-20, or the Reverse Stock Split. The Company’s board of directors also approved a reduction in the number of authorized shares of common stock, at a ratio that is equal to half of the Reverse Stock Split ratio. On April 22, 2024, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment of its Amended and Restated Certificate of Incorporation to effect the Reverse Stock Split. As of the date of this filing, the Reverse Stock Split was not effective as trading on the Nasdaq Capital Market did not reflect the Reverse Stock Split. All shares and per share information presented in these consolidated financial statements does not reflect the upcoming Reverse Stock Split. As of December 31, 2023, adjusting for the Reverse Stock Split will decrease the total number of the Company’s authorized shares of common stock from 200,000,000 to 20,000,000; will decrease the number of issued and outstanding shares of common stock from 90,601,999 to approximately 4,530,099; and will decrease the number of outstanding warrants from 17,331 to 866 and will change the exercise price on these warrants from $11.54 to $230.95. The following unaudited pro forma financial information presents the Company’s basic and diluted net loss per share upon effectiveness of the Reverse Stock Split for the periods indicated (in thousands, except share and per share data): Years ended December 31, 2023 2022 As Restated Net loss and comprehensive loss $ (22,931) $ (33,584) Basic and diluted net loss per common share $ (5.25) $ (9.61) Shares used to compute basic and diluted net loss per common share 4,371,371 3,492,884

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has a limited operating history and the sales and income potential of the Company’s business and market are unproven. The Company has experienced net losses and negative cash flows from operating activities since its inception. At December 31, 2023, the Company had an accumulated deficit of $441.4 million. The Company expects to continue to incur net losses into the foreseeable future. Successful transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. At December 31, 2023, the Company had cash and cash equivalents of $35.8 million. Based on the Company’s current business plan, management believes that existing cash and cash equivalents will not be sufficient to fund the Company’s obligations for twelve months from the issuance of these financial statements. The Company’s ability to execute its operating plan depends on its ability to obtain additional funding through equity offerings, debt financings or potential licensing and collaboration arrangements. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business. However, the Company’s current working capital, anticipated operating expenses and net losses and the uncertainties surrounding its ability to raise additional capital as needed, as discussed below, raise substantial doubt about its ability to continue as a going concern for a period of one year following the date that these consolidated financial statements are issued. The consolidated financial statements do not include any adjustments for the recovery and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company plans to continue to fund its losses from operations through cash and cash equivalents on hand, as well as through future equity offerings, debt financings, other third party funding, and potential licensing or collaboration arrangements. There can be no assurance that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to the Company. Even if the Company raises additional capital, it may also be required to modify, delay or abandon some of its plans which could have a material adverse effect on the Company’s business, operating results and financial condition and the Company’s ability to achieve its intended business objectives. Any of these actions could materially harm the Company’s business, results of operations and future prospects.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company’s consolidated financial statements relate to estimated collaboration expenses related to the Company’s collaboration and license agreements, certain accruals, including those related to nonclinical and clinical activities, and the stand-alone selling price of performance obligations associated with the Company’s collaboration and license agreements. Although the estimates are based on the Company’s knowledge of current events, comparable companies, and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.
Segment Information	Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, the Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments purchased with a maturity of three months or less when acquired to be cash equivalents.
Accounts Receivable	Accounts Receivable Accounts receivable is stated at the original invoice amount and consists of amounts due from customers related to milestones achieved, certain research and development and clinical supply costs subject to reimbursement under the collaboration and license agreements, royalties earned, and product sales. The Company records accounts receivables net of any allowances for doubtful accounts for potential credit losses. An allowance for doubtful accounts is determined based on the financial condition and creditworthiness of customers and the Company considers economic factors and events or trends expected to affect future collections experience. Any allowance would reduce the net receivables to the amount that is expected to be collected. The payment history of the Company’s customers will be considered in future assessments of collectability as these patterns are established over a longer period of time. The Company did not record any credit losses as of December 31, 2023 or 2022.
Inventory	Inventory The Company began capitalizing inventory for REZZAYO, which received approval by the U.S. Food and Drug Administration, or FDA, in March 2023. REZZAYO (rezafungin for injection) is approved for the treatment of candidemia and invasive candidiasis in adults with limited or no alternative treatment options. Prior to regulatory approval, all direct and indirect manufacturing costs were charged to research and development expense in the period incurred. Inventory is comprised of raw materials, work-in-process and finished goods, and includes costs related to materials, third-party contract manufacturing, freight-in and overhead. Inventory is stated at the lower of cost or net realizable value with cost based on the first-in-first-out method. The Company performs an assessment of recoverability of capitalized inventory during each reporting period based on an analysis of forecasted demand compared to quantities on hand and any firm purchase orders, as well as product shelf life, and writes down any excess, obsolete or unsaleable inventory to its estimated realizable value in the period which the required reserve is first identified. Such write downs, should they occur, are charged to cost of product revenue in the consolidated statements of operations and comprehensive loss. As of December 31, 2023, the Company did not identify any excess, obsolete or unsaleable inventory.
Property and Equipment	Property and Equipment The Company records property and equipment at cost, which consists of laboratory equipment, computer equipment and software, office equipment, furniture and fixtures and leasehold improvements. Property and equipment is depreciated using the straight-line method over the estimated useful lives (generally three
Finance Lease and Operating Lease	Finance Lease In accordance with Accounting Standards Codification , or ASC, 842, Leases , or ASC 842, the Company determines if a contract contains a lease at inception and recognizes finance lease right-of-use assets and finance lease liabilities based on the present value of the future minimum lease payments at the commencement date. The implicit rate within the Company’s finance lease was determinable and therefore used in determining the present value of future payments at the commencement date. Lease agreements that have lease and non-lease components are accounted for as a single lease component. The Company recognizes amortization of the right-of-use assets and interest on the lease liabilities for its finance lease. Finance lease right-of-use assets are amortized on a straight-line basis from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. However, if the lease transfers ownership of the underlying asset to the lessee or the lessee is reasonably certain to exercise an option to purchase the underlying asset, the right-of-use assets are amortized to the end of the useful life of the underlying asset. Operating Lease In accordance with ASC 842 the Company determines if a contract contains a lease at inception and recognizes operating lease right-of-use assets and operating lease liabilities based on the present value of the future minimum lease payments at the commencement date. As the Company’s operating leases do not provide an implicit rate, management develops incremental borrowing rates based on the information available at the commencement date in determining the present value of future payments. Lease agreements that have lease and non-lease components are accounted for as a single lease component. Lease expense is recognized on a straight-line basis over the lease term.
Concentration of Credit Risk	Concentration of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in government insured financial institutions in excess of government insured limits. The Company invests its cash balances in financial institutions that it believes have high credit quality, has not experienced any losses on such accounts and does not believe it is exposed to significant credit risk.
Patent Costs	Patent Costs The Company expenses all costs as incurred in connection with patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in selling, general and administrative, or SG&A, expenses in the accompanying statements of operations and comprehensive loss.
Income Taxes	Income Taxes The Company reports deferred income taxes in accordance with ASC 740, Income Taxes , or ASC 740. ASC 740 requires a company to recognize deferred tax assets and liabilities for expected future income tax consequences of events that have been recognized in the Company’s consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740, which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes.
Indirect Taxes	Indirect Taxes The Company’s purchases of clinical drug supplies and raw materials, inventory transfers, and sales of commercial drug product are subject to indirect taxation in various jurisdictions outside of the U.S. Indirect tax payable is included in accrued indirect tax liabilities, the related expense is included in research and development, or R&D, expenses, and the related interest and penalties are included in SG&A expenses. The accrual is for the indirect tax incurred in various tax jurisdictions outside of the U.S. as a consequence of the Company’s supply chain activities or in connection with commercial sales of REZZAYO. To the extent that any accrued indirect taxes are determined to not be due and payable, then any associated liabilities and operating expenses will be reversed in future periods. Indirect tax amounts on commercial sales (product revenue) that can be billed to and recovered from our customers are included in accounts receivables. Indirect tax amounts related to inventory purchases and manufacturing are included within inventory.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers , or ASC 606, which applies to all contracts with customers, except for elements of certain contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. In a contract with multiple performance obligations, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation, which determines how the transaction price is allocated among the performance obligations. The estimation of the stand-alone selling price(s) may include estimates regarding forecasted revenues or costs, development timelines, discount rates, and probabilities of technical and regulatory success. The Company evaluates each performance obligation to determine if it can be satisfied at a point in time or over time. Any change made to estimated progress towards completion of a performance obligation and, therefore, revenue recognized will be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. Collaboration Revenue If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in a contract, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from the allocated transaction price. The Company evaluates the measure of progress at each reporting period and, if necessary, adjusts the measure of performance and related revenue or expense recognition as a change in estimate. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being reached. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s or a collaboration partner’s control, such as regulatory approvals, are generally not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones that are within its or a collaboration partner’s control, such as operational development milestones and any related constraint, and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which will affect collaboration revenues and earnings in the period of adjustment. Revisions to the Company’s estimate of the transaction price may also result in negative collaboration revenues and earnings in the period of adjustment. For arrangements that include sales-based royalties, including commercial milestone payments based on the level of sales, and a license is deemed to be the predominant item to which the royalties relate, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied. In September 2019, the Company entered into a Collaboration and License Agreement, or the Mundipharma Collaboration Agreement, with Mundipharma Medical Company, or Mundipharma. The Company concluded that there were three performance obligations under the Mundipharma Collaboration Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. In March 2021, the Company entered into an exclusive worldwide license and collaboration agreement, or the Janssen Collaboration Agreement, with Janssen Pharmaceuticals, Inc., or Janssen, one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The Company concluded that there were three performance obligations under the Janssen Collaboration Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. In July 2022, the Company entered into a License Agreement with Melinta, or the Melinta License Agreement. The Company concluded that there were three performance obligations under the Melinta License Agreement: the license, the research and development services, and the clinical supply services, and that the obligations are distinct from each other. The Company concluded that progress towards completion of the research and development and clinical supply performance obligations related to the Mundipharma Collaboration Agreement and the Melinta License Agreement, is best measured in an amount proportional to the collaboration expenses incurred and the total estimated collaboration expenses. The Company periodically reviews and updates the estimated collaboration expenses, when appropriate, which may adjust revenue recognized for the period. While such changes to the Company’s estimates have no impact on the Company’s reported cash flows, the amount of revenue recorded in the period could be materially impacted. Revenue from research and development services for the Janssen Collaboration Agreement is recognized based on actual amounts billed as the underlying services are provided and billed at market rates. The transaction prices to be recognized as revenue under both the Mundipharma Collaboration Agreement and the Janssen Collaboration Agreement consist of upfront payments, estimated reimbursable research and development and clinical supply costs, and milestones achieved to date. The transaction price to be recognized as revenue under the Melinta License Agreement consists of an upfront payment and milestones achieved to date. Potential future payments for variable consideration, such as clinical, regulatory or commercial milestones, will be recognized when it is probable that, if recorded, a significant reversal will not take place. Potential future royalty payments will be recorded as revenue when the associated sales occur. See Note 9 for additional information. Product Revenue In December 2022 and January 2023, the Company entered into separate Commercial Supply Agreements with Mundipharma and Melinta, respectively, for the batch supply of REZZAYO naked vials for commercial use. Under the Commercial Supply Agreements, Mundipharma and Melinta are required to submit purchase orders to the Company for batches of REZZAYO naked vials. The Company concluded that the delivery of each batch of REZZAYO naked vials and the related quality assessment certification represents a distinct performance obligation. The transaction price to be recognized as revenue for each performance obligation under the Commercial Supply Agreements consists of variable consideration which is determined based on the estimated per vial costs, plus the contractually stated margin rate. The amounts recognized as revenue are adjusted, as needed, each reporting period based on actual costs incurred for each batch. Variable consideration is included in the transaction price only to the extent that it is considered probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The Company has made an accounting policy election to exclude from the transaction price any indirect taxes collected from customers. As a result, any such collections are recorded as indirect taxes liabilities. The transaction price will be fully allocated to the single performance obligation. The Company concluded that the performance obligation is satisfied and product revenue is recognized when the customer obtains control of the product, which occurs at a point in time, typically upon the later of (i) completion of a positive quality assessment, or (ii) shipment of the Company’s product to the customer. Shipping and handling activities that are performed after a customer obtains control of the product are treated as activities to fulfill the promise to a customer and any amounts billed to a customer represent revenues for the product provided. Costs related to such shipping and handling billings are classified as cost of product revenue.
Cost of Product Revenue	Cost of Product Revenue Cost of product revenue consists primarily of costs related to materials, third-party contract manufacturing, freight-in and overhead. Prior to regulatory approval, all direct and indirect manufacturing costs were charged to research and development expense in the period incurred.
Research and Development Costs	Research and Development Costs R&D expenses consist of wages, benefits and stock-based compensation charges for research and development employees, scientific consultant fees, facilities and overhead expenses, laboratory supplies, manufacturing expenses in preclinical development and certain manufacturing expenses before FDA approval, nonclinical and clinical trial costs, and indirect taxes on clinical supplies and development materials. The Company accrues nonclinical and clinical trial expenses based on work performed, which relies on estimates of total costs incurred based on patient enrollment, completion of studies, and other events. Costs incurred in purchasing technology assets and intellectual property are charged to research and development expense if the technology has not been conclusively proven to be feasible and has no alternative future use.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses SG&A expenses relate to selling, finance, human resources, legal and other administrative activities. SG&A expenses consist primarily of salaries and related benefits, including stock-based compensation, related to our executive, finance, legal, business development, commercial planning and support functions. Other SG&A expenses include facility and overhead costs not otherwise included in cost of product revenue or research and development expenses, consultant expenses, travel expenses, professional fees for auditing, tax, legal, and other services, the branded prescription drug fee, and any accrued interest and penalties on accrued indirect tax liabilities.
Preclinical and Clinical Trial Accruals	Preclinical and Clinical Trial Accruals The Company makes estimates of its accrued expenses as of each balance sheet date in the financial statements based on the facts and circumstances known at that time. Accrued expenses for preclinical studies and clinical trials are based on estimates of costs incurred and fees that may be associated with services provided by contract research organizations, or CROs, clinical trial investigational sites and other clinical trial-related activities. Payments under certain contracts with such parties depend on factors such as successful enrollment of patients, site initiation and the completion of clinical trial milestones. In accruing for these services, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If possible, the Company obtains information regarding unbilled services directly from these service providers. However, the Company may be required to estimate these services based on other available information. If the Company underestimates or overestimates the activities or fees associated with a study or service at a given point in time, adjustments to research and development expenses may be necessary in future periods. Historically, estimated accrued liabilities have approximated actual expense incurred. Subsequent changes in estimates may result in a material change in accruals.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation expense related to stock options, restricted stock units, or RSUs, performance-based RSUs, or PRSUs, and Employee Stock Purchase Plan, or ESPP, rights by estimating the fair value on the date of grant. The Company estimates the fair value of stock options granted to employees and non-employees using the Black-Scholes option pricing model. The fair value of RSUs and PRSUs granted to employees is estimated based on the closing price of the Company’s common stock on the date of grant. The assumptions included in the Black-Scholes option pricing model include (a) the risk-free interest rate, (b) the expected volatility of the Company’s stock, (c) the expected term of the award, and (d) the expected dividend yield. The Company computed the expected volatility data using the daily close prices for the Company’s common stock during the equivalent period of the calculated expected term of the Company’s stock-based awards. The Company estimated the expected life of employee stock options using the “simplified” method, whereby the expected life equals the average of the vesting term and the original contractual term of the option. The risk-free interest rates for periods within the expected life of the option are based on the yields of zero-coupon U.S. treasury securities. The expected dividend yield of zero reflects that the Company has not paid cash dividends since inception and does not intend to pay cash dividends in the foreseeable future. For awards subject to time-based vesting conditions, including those with a graded vesting schedule, stock-based compensation expense is recognized using the straight-line method. For performance-based awards to employees, (i) the fair value of the award is determined on the grant date, (ii) the Company assesses the probability of the individual performance milestones under the award being achieved and (iii) the fair value of the shares subject to the milestone is expensed over the implicit service period commencing once management believes the performance criteria is probable of being met. The Company recognizes forfeitures related to stock-based compensation as they occur and any compensation cost previously recognized for awards for which the requisite service has not been completed is reversed in the period that the award is forfeited.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and dilutive stock equivalents outstanding for the period determined using the treasury stock method or if-converted method. Under the two-class method, the net loss attributable to common stockholders is not allocated to the Series X Convertible Preferred Stock as the preferred stockholders do not have a contractual obligation to share in the Company’s losses. For all periods presented, basic and diluted net loss per share are identical because the otherwise dilutive potential common shares become anti-dilutive and are therefore excluded.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company follows ASC 820-10, Fair Value Measurements and Disclosures , or ASC 820-10, with respect to fair value reporting for financial assets and liabilities. The guidance defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance does not apply to measurements related to share-based payments. The guidance discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, accrued compensation and benefits, and lease liabilities. The carrying amount of these financial instruments are generally considered to be representative of their respective fair values because of their short-term nature.
Recently Issued and Recently Adopted Accounting Pronouncements	Recently Issued and Recently Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies that are adopted by the Company as of the specified effective date. In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities to disclose disaggregated information about their effective tax rate reconciliation as well as expanded information on income taxes paid by jurisdiction. The disclosure requirements will be applied on a prospective basis, with the option to apply them retrospectively. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt this guidance for the fiscal year ending December 31, 2025 and believes, based on its preliminary assessment, that this new guidance will not have a material impact on the Company’s consolidated financial statements or related disclosures. The Company believes, based on its preliminary assessment, that any other recently issued, but not yet adopted, accounting pronouncements will not have a material impact on the Company’s consolidated financial statements or related disclosures, or do not apply to the Company.

THE COMPANY AND BASIS OF PRES_2

THE COMPANY AND BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following presents a reconciliation of the impacted financial statement line items as previously reported to the restated amounts as of and for the year ended December 31, 2022 (in thousands, except share and per share data): Year Ended December 31, 2022 Corrected Consolidated Balance Sheet As Previously Reported Restatement Adjustment As Restated Operating lease right-of-use asset $ 1,205 $ (106) $ 1,099 Total assets 47,593 (106) 47,487 Accrued indirect tax liabilities — 11,534 11,534 Current portion of operating lease liability 1,317 (106) 1,211 Total current liabilities 29,972 11,428 41,400 Total liabilities 50,497 11,428 61,925 Accumulated deficit (406,966) (11,534) (418,500) Total stockholders’ deficit (2,904) (11,534) (14,438) Total liabilities and stockholders’ deficit 47,593 (106) 47,487 Year Ended December 31, 2022 Corrected Consolidated Statement of Operations and Comprehensive Loss As Previously Reported Restatement Adjustment As Restated Collaboration revenue $ 64,288 $ 160 $ 64,448 Total revenues 64,288 160 64,448 Research and development 75,520 1,885 77,405 Selling, general and administrative 18,486 2,060 20,546 Total operating expenses 94,006 3,945 97,951 Loss from operations (29,718) (3,785) (33,503) Loss before income tax expense (29,527) (3,785) (33,312) Net loss and comprehensive loss (29,799) (3,785) (33,584) Basic and diluted net loss per common share (0.43) (0.48) Shares used to compute basic and diluted net loss per common share 69,857,698 69,857,698 Additional Paid-In Capital Corrected Consolidated Statement of Convertible Preferred Stock and Stockholders’ Equity (Deficit) As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ 398,733 $ (720) $ 398,013 Issuance costs for underwritten public offering (720) 720 — Balance, December 31, 2022 404,055 — 404,055 Accumulated Deficit As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ (377,167) $ (7,749) $ (384,916) Net loss (29,799) (3,785) (33,584) Balance, December 31, 2022 (406,966) (11,534) (418,500) Total Stockholders’ Equity (Deficit) As Previously Reported Restatement Adjustment As Restated Balance, December 31, 2021 $ 21,573 $ (8,469) $ 13,104 Issuance costs for underwritten public offering (720) 720 — Net loss (29,799) (3,785) (33,584) Balance, December 31, 2022 (2,904) (11,534) (14,438) Year Ended December 31, 2022 Corrected Consolidated Statement of Cash Flows As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (29,799) $ (3,785) $ (33,584) Adjustments to reconcile net loss to net cash used in operating activities: Non-cash operating lease expense 1,082 (101) 981 Changes in assets and liabilities: Accrued indirect tax liabilities — 3,945 3,945 Contract liabilities 2,806 (160) 2,646 Operating lease liabilities (1,153) 101 (1,052)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of basic and diluted net loss per share because doing so would be anti-dilutive (in common stock equivalent shares): December 31, 2023 2022 Common stock warrants 17,331 12,517,328 Series X Convertible Preferred Stock 21,044,720 18,184,720 Common stock options, RSUs and PRSUs issued and outstanding 12,764,068 9,323,495 Total 33,826,119 40,025,543

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables summarize the Company’s financial instruments measured at fair value on a recurring basis (in thousands): TOTAL LEVEL 1 LEVEL 2 LEVEL 3 December 31, 2023 Assets: Cash and money market accounts $ 35,778 $ 35,778 $ — $ — Total assets at fair value $ 35,778 $ 35,778 $ — $ — December 31, 2022 Assets: Cash and money market accounts $ 32,731 $ 32,731 $ — $ — Total assets at fair value $ 32,731 $ 32,731 $ — $ —

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): December 31, 2023 2022 Raw materials $ 2,691 $ — Work-in-process 3,406 — Finished goods — — Total inventory $ 6,097 $ —

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following (in thousands): December 31, 2023 2022 Laboratory equipment $ 2,817 $ 2,415 Leasehold improvements 425 425 Computer hardware and software 327 305 Office equipment 36 93 Furniture and fixtures 142 142 3,747 3,380 Less accumulated depreciation and amortization (3,190) (3,158) Total $ 557 $ 222

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance is as follows (in common stock equivalent shares): December 31, 2023 2022 Common stock warrants 17,331 12,517,328 Series X Convertible Preferred Stock 21,044,720 18,184,720 Common stock options, RSUs and PRSUs issued and outstanding 12,764,068 9,323,495 Authorized for future stock awards 3,411,463 4,469,969 Awards available under the ESPP 987,756 806,968 Total 38,225,338 45,302,480

EQUITY INCENTIVE PLANS (Tables)

EQUITY INCENTIVE PLANS (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Units and Performance-based Restricted Stock Units Activity	The following table summarizes RSU and PRSU activity during the year ended December 31, 2023: Number of Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 1,223,871 $ 1.47 RSUs and PRSUs granted 1,515,817 1.00 RSUs and PRSUs vested (490,520) 1.48 RSUs and PRSUs canceled (151,115) 1.29 Outstanding at December 31, 2023 2,098,053 $ 1.14
Schedule of Stock Option Activity	The following table summarizes stock option activity during the year ended December 31, 2023: Number of Weighted Weighted Total Aggregate Outstanding at December 31, 2022 8,099,624 $ 2.78 6.65 $ 48 Options granted 3,233,558 1.02 Options exercised (25,750) 0.83 Options canceled (641,417) 3.12 Outstanding at December 31, 2023 10,666,015 $ 2.23 6.72 $ 57 Vested and expected to vest at December 31, 2023 10,666,015 $ 2.23 6.72 $ 57 Exercisable at December 31, 2023 7,236,987 $ 2.75 5.71 $ 54
Schedule of Black-Scholes Option Pricing Model Assumptions	The following table summarizes the Black-Scholes option pricing model assumptions used to estimate the fair value of stock options granted to employees under the 2015 EIP and 2020 IIP and the shares purchasable under the 2015 ESPP during the periods presented: For the years ended December 31, 2023 2022 2015 EIP and 2020 IIP Risk-free interest rate 3.58% - 4.61% 1.39% - 4.02% Expected dividend yield 0% 0% Expected volatility 82% - 83% 70% - 75% Expected term (years) 5.50 - 6.08 5.50 - 6.08 2015 ESPP Risk-free interest rate 4.29% - 5.43% 1.57% - 2.65% Expected dividend yield 0% 0% Expected volatility 64% - 147% 75% - 98% Expected term (years) 0.50 - 2.00 0.50 - 2.00
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense recognized for RSUs, PRSUs, stock options, and the ESPP has been reported in the consolidated statements of operations and comprehensive loss as follows (in thousands): Years ended December 31, 2023 2022 Research and development $ 1,592 $ 1,760 Selling, general and administrative 1,469 1,945 Total $ 3,061 $ 3,705

SIGNIFICANT AGREEMENTS AND CO_2

SIGNIFICANT AGREEMENTS AND CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Collaborative Agreement Liabilities and Revenues Disaggregated by Timing of Revenue Recognition	The following table presents a summary of the activity in the Company’s contract liabilities pertaining to the Mundipharma Collaboration Agreement, Janssen Collaboration Agreement, and Melinta License Agreement during the year ended December 31, 2023 (in thousands): Opening balance, December 31, 2022 (As Restated) $ 35,139 Payments received in advance 1,755 Payments receivable 1,488 Revenue from performance obligations satisfied during reporting period (9,042) Closing balance, December 31, 2023 $ 29,340 Current portion of contract liabilities $ 25,095 Long-term portion of contract liabilities 4,245 Total contract liabilities, December 31, 2023 $ 29,340 The following table presents our collaboration revenue disaggregated by collaborator and timing of revenue recognition (in thousands): Year Ended December 31, 2023 Mundipharma Janssen Melinta Revenue from Collaboration and License Agreements: Point in Time: License of Intellectual Property - upon milestones achieved $ 3,252 $ 2,347 $ 17,257 Clinical Drug Supply 26 — — Royalties — — 168 Over Time: Research and Development Services 12,303 19,011 2,441 Clinical Supply Services 840 1,925 — Total Revenue from Collaboration and License Agreements $ 16,421 $ 23,283 $ 19,866 Year Ended December 31, 2022 Mundipharma Janssen Melinta (As Restated) Revenue from Collaboration and License Agreements: Point in Time: License of Intellectual Property - upon transfer of license $ — $ — $ 25,885 License of Intellectual Property - upon milestones achieved 3,252 976 — Clinical Drug Supply 484 — — Over Time: Research and Development Services 9,595 18,814 811 Clinical Supply Services 925 3,706 — Total Revenue from Collaboration and License Agreements $ 14,256 $ 23,496 $ 26,696

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The tax provision for income taxes consisted of the following (in thousands): December 31, 2023 2022 Current tax provision: Federal $ 393 $ 248 State 50 24 Total current tax provision 443 272 Deferred tax provision: Federal — — State — — Total deferred tax provision — — Total tax provision $ 443 $ 272
Schedule of Reconciliation Between Federal Statutory and Provision For Income Taxes	The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes (in thousands): Years Ended December 31, 2023 2022 (As Restated) Federal income taxes at 21% for 2023 and 2022 $ (4,723) $ (7,029) State income tax, net of federal benefit (186) (247) Nondeductible expenses 260 415 Tax credits (2,076) (1,877) Rate change (54) 491 Change in valuation allowance 6,373 (19,684) Reserve for uncertain tax positions 519 (10,423) 162m deferred tax asset limitation 128 82 382 NOL and tax credit limitation — 37,513 Expired stock awards 174 1,052 Other 28 (21) Income tax expense $ 443 $ 272
Schedule of Components of Net Deferred Tax Assets	Significant components of the Company’s net deferred tax assets are as follows (in thousands): December 31, 2023 2022 (As Restated) Deferred tax assets: Net operating losses $ 35,506 $ 42,043 Tax credits 9,747 9,327 Intangibles 136 160 Capitalized R&D 25,871 14,706 Stock compensation 1,424 1,385 Lease liabilities 1,112 275 Deferred revenue 5,951 5,620 Accrued indirect tax liabilities 4,114 2,617 Other 725 1,018 Total deferred tax assets 84,586 77,151 Less valuation allowance (83,086) (76,713) Deferred tax assets, net of valuation allowance 1,500 438 Deferred tax liabilities: Prepaid expenses (214) (189) Capitalized inventory costs (244) — Right-of-use assets (1,042) (249) Total deferred tax liabilities (1,500) (438) Net deferred tax assets $ — $ —
Schedule of Reconciliation Amount of Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2023 and 2022 is as follows (in thousands): Years Ended December 31, 2023 2022 (As Restated) Balance as of the beginning of the year $ 11,015 $ 23,990 Increases related to current year tax positions 552 497 Decreases related to prior year tax positions (47) (13,472) Balance as of the end of the year $ 11,520 $ 11,015

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Amount, Timing and Uncertainty of Cash Flows from Finance Lease	The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s finance lease as of December 31, 2023 (in thousands): 2024 $ 275 2025 300 2026 300 2027 25 Total undiscounted finance lease payments 900 Less: Imputed interest (107) Present value of finance lease payments $ 793
Schedule of Supplemental Balance Sheet Information For Finance Leases	The balance sheet classification of the Company’s finance lease is as follows (in thousands): Balance Sheet Classification: Finance lease right-of-use asset $ 788 Accumulated amortization (6) Net finance lease right-of-use asset $ 782 Current portion of finance lease liability $ 218 Long-term finance lease liability 575 Total finance lease liabilities $ 793
Schedule of Amount, Timing and Uncertainty of Cash Flows from Operating Lease	The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating lease as of December 31, 2023 (in thousands): 2024 $ 1,600 2025 1,665 2026 1,731 Total undiscounted operating lease payments 4,996 Less: Imputed interest (912) Present value of operating lease payments $ 4,084
Schedule of Supplemental Balance Sheet Information For Operating Leases	The balance sheet classification of the Company’s operating lease is as follows (in thousands): Balance Sheet Classification: Operating lease right-of-use asset $ 3,788 Current portion of operating lease liability $ 1,082 Long-term operating lease liability 3,002 Total operating lease liabilities $ 4,084

SELECTED QUARTERLY FINANCIAL _2

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Quarterly Financial Data (Unaudited)	the Company has restated its unaudited condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss, condensed consolidated statements of convertible preferred stock and stockholders’ equity (deficit), and condensed consolidated statements of cash flows for the quarterly periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023 and September 30, 2023. March 31, 2023 March 31, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 47,976 $ — $ 47,976 $ 36,488 $ — $ 36,488 Restricted Cash — — — 1,482 — 1,482 Accounts receivable 25,826 295 26,121 8,783 — 8,783 Prepaid expenses and other current assets 5,686 25 5,711 5,254 — 5,254 Total current assets 79,488 320 79,808 52,007 — 52,007 Property and equipment, net 270 — 270 239 — 239 Operating lease right-of-use asset 917 (81) 836 2,030 (184) 1,846 Other assets 1,061 — 1,061 1,019 — 1,019 Total assets $ 81,736 $ 239 $ 81,975 $ 55,295 $ (184) $ 55,111 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 3,980 46 4,026 2,861 — 2,861 Accrued liabilities 9,078 30 9,108 9,234 720 9,954 Accrued indirect tax liabilities — 11,795 11,795 — 7,942 7,942 Accrued compensation and benefits 5,843 — 5,843 3,079 — 3,079 Current contract liabilities 15,761 29 15,790 14,260 — 14,260 Current portion of operating lease liability 1,001 (81) 920 1,190 (100) 1,090 Current portion of term loan — — — 1,481 — 1,481 Total current liabilities 35,663 11,819 47,482 32,105 8,562 40,667 Long-term contract liabilities 19,236 150 19,386 17,229 — 17,229 Long-term operating lease liability — — — 1,004 (84) 920 Total liabilities 54,899 11,969 66,868 50,338 8,478 58,816 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (1) Series X Convertible Preferred stock (2) — — — — — — Common stock (3) 9 — 9 7 — 7 Additional paid-in capital 430,585 — 430,585 400,398 (720) 399,678 Accumulated deficit (403,757) (11,730) (415,487) (395,448) (7,942) (403,390) Total stockholders’ equity (deficit) 26,837 (11,730) 15,107 4,957 (8,662) (3,705) Total liabilities and stockholders’ equity (deficit) $ 81,736 $ 239 $ 81,975 $ 55,295 $ (184) $ 55,111 (1) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at March 31, 2023 and March 31, 2022 (2) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at March 31, 2023 and March 31, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at March 31, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at March 31, 2022 (3) Common stock, $0.0001 par value; 200,000,000 shares authorized at March 31, 2023 and March 31, 2022; 90,024,562 shares issued and outstanding at March 31, 2023 and 69,049,247 shares issued and outstanding at March 31, 2022 June 30, 2023 June 30, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 50,430 $ — $ 50,430 $ 24,637 $ — $ 24,637 Restricted cash — — — 370 — 370 Accounts receivable 5,483 — 5,483 4,833 — 4,833 Inventory 1,954 434 2,388 — — — Prepaid expenses and other current assets 4,373 — 4,373 6,706 — 6,706 Total current assets 62,240 434 62,674 36,546 — 36,546 Property and equipment, net 297 — 297 201 — 201 Operating lease right-of-use asset 4,388 (81) 4,307 1,764 (162) 1,602 Other assets 1,061 — 1,061 1,013 — 1,013 Total assets $ 67,986 $ 353 $ 68,339 $ 39,524 $ (162) $ 39,362 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 1,899 — 1,899 3,091 — 3,091 Accrued liabilities 10,022 — 10,022 8,567 — 8,567 Accrued indirect tax liabilities — 13,431 13,431 — 10,582 10,582 Accrued compensation and benefits 3,582 — 3,582 3,464 — 3,464 Current contract liabilities 14,975 — 14,975 14,730 — 14,730 Current portion of operating lease liability 942 (81) 861 1,233 (104) 1,129 Current portion of term loan — — — 370 — 370 Total current liabilities 31,420 13,350 44,770 31,455 10,478 41,933 Long-term contract liabilities 17,551 — 17,551 15,351 — 15,351 Long-term operating lease liability 3,601 — 3,601 679 (58) 621 Total liabilities 52,572 13,350 65,922 47,485 10,420 57,905 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (4) Series X Convertible Preferred stock (5) — — — — — — Common stock (6) 9 — 9 7 — 7 Additional paid-in capital 431,519 — 431,519 400,599 — 400,599 Accumulated deficit (416,114) (12,997) (429,111) (408,567) (10,582) (419,149) Total stockholders’ equity (deficit) 15,414 (12,997) 2,417 (7,961) (10,582) (18,543) Total liabilities and stockholders’ equity (deficit) $ 67,986 $ 353 $ 68,339 $ 39,524 $ (162) $ 39,362 (4) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at June 30, 2023 and June 30, 2022 (5) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at June 30, 2023 and June 30, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at June 30, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at June 30, 2022 (6) Common stock, $0.0001 par value; 200,000,000 shares authorized at June 30, 2023 and June 30, 2022; 90,251,746 shares issued and outstanding at June 30, 2023 and 69,238,508 shares issued and outstanding at June 30, 2022 September 30, 2023 September 30, 2022 Corrected Condensed Consolidated Balance Sheets (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated ASSETS Current assets: Cash and cash equivalents $ 48,670 $ — $ 48,670 $ 53,078 $ — $ 53,078 Accounts receivable 2,855 323 3,178 5,042 — 5,042 Inventory 2,467 434 2,901 — — — Prepaid expenses and other current assets 3,712 — 3,712 5,779 — 5,779 Total current assets 57,704 757 58,461 63,899 — 63,899 Property and equipment, net 580 — 580 173 — 173 Operating lease right-of-use asset 4,131 (81) 4,050 1,491 (137) 1,354 Other assets 1,053 — 1,053 1,295 — 1,295 Total assets $ 63,468 $ 676 $ 64,144 $ 66,858 $ (137) $ 66,721 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities: Accounts payable 3,661 — 3,661 4,244 — 4,244 Accrued liabilities 11,772 — 11,772 8,162 — 8,162 Accrued indirect tax liabilities — 14,689 14,689 — 11,314 11,314 Accrued compensation and benefits 4,457 — 4,457 4,117 — 4,117 Current contract liabilities 14,679 — 14,679 15,249 — 15,249 Current portion of operating lease liability 1,051 (81) 970 1,277 (108) 1,169 Total current liabilities 35,620 14,608 50,228 33,049 11,206 44,255 Long-term contract liabilities 16,504 — 16,504 24,398 — 24,398 Long-term operating lease liability 3,306 — 3,306 344 (29) 315 Total liabilities 55,430 14,608 70,038 57,791 11,177 68,968 Commitments and contingencies Stockholders’ equity (deficit): Preferred stock (7) Series X Convertible Preferred stock (8) — — — — — — Common stock (9) 9 — 9 7 — 7 Additional paid-in capital 432,315 — 432,315 402,649 — 402,649 Accumulated deficit (424,286) (13,932) (438,218) (393,589) (11,314) (404,903) Total stockholders’ equity (deficit) 8,038 (13,932) (5,894) 9,067 (11,314) (2,247) Total liabilities and stockholders’ equity (deficit) $ 63,468 $ 676 $ 64,144 $ 66,858 $ (137) $ 66,721 (7) Preferred stock, $0.0001 par value; 10,000,000 shares authorized at September 30, 2023 and September 30, 2022 (8) Series X Convertible Preferred Stock, $0.0001 par value; 4,947,759 shares authorized at September 30, 2023 and September 30, 2022; 2,156,713 shares issued and 2,104,472 shares outstanding at September 30, 2023; 1,870,713 shares issued and 1,818,472 shares outstanding at September 30, 2022 (9) Common stock, $0.0001 par value; 200,000,000 shares authorized at September 30, 2023 and September 30, 2022; 90,415,944 shares issued and outstanding at September 30, 2023 and 71,181,197 shares issued and outstanding at September 30, 2022 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 25,990 $ 117 $ 26,107 $ 7,109 $ 160 $ 7,269 Total revenues 25,990 117 26,107 7,109 160 7,269 Operating expenses: Research and development 18,715 154 18,869 20,166 215 20,381 General and administrative 4,298 159 4,457 5,204 138 5,342 Total operating expenses 23,013 313 23,326 25,370 353 25,723 Income (loss) from operations 2,977 (196) 2,781 (18,261) (193) (18,454) Other income (expense), net: Interest income (expense), net 232 — 232 (20) — (20) Total other income (expense), net 232 — 232 (20) — (20) Net income (loss) and comprehensive income (loss) 3,209 (196) 3,013 (18,281) (193) (18,474) Allocation of earnings to participating securities (677) 41 (636) — — — Net income (loss) attributable to common stockholders $ 2,532 $ (155) $ 2,377 $ (18,281) $ (193) $ (18,474) Basic net earnings (loss) per common share (10) $ 0.03 $ 0.03 $ (0.27) $ (0.27) Diluted net earnings (loss) per common share (10) $ 0.03 $ 0.03 $ (0.27) $ (0.27) Shares used to compute basic net earnings (loss) per common share 78,640,086 78,640,086 68,138,116 68,138,116 Shares used to compute diluted net earnings (loss) per common share 101,189,396 101,189,396 68,138,116 68,138,116 (10) As the Company was in an income position for the three-months ended March 31, 2023, the two-class method was used to compute basic net earnings per share and the Company calculated diluted net earnings per share based on the more dilutive of (1) the treasury stock method, reverse treasury stock method or if-converted method, as applicable, or (2) the two-class method. Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 7,614 $ (117) $ 7,497 $ 6,216 $ — $ 6,216 Total revenues 7,614 (117) 7,497 6,216 — 6,216 Operating expenses: Research and development 17,135 421 17,556 15,255 1,375 16,630 General and administrative 3,310 729 4,039 4,074 1,265 5,339 Total operating expenses 20,445 1,150 21,595 19,329 2,640 21,969 Loss from operations (12,831) (1,267) (14,098) (13,113) (2,640) (15,753) Other income (expense), net: Interest income (expense), net 623 — 623 (6) — (6) Total other income (expense), net 623 — 623 (6) — (6) Net loss before income tax expense (12,208) (1,267) (13,475) (13,119) (2,640) (15,759) Income tax expense (149) — (149) — — — Net loss and comprehensive loss $ (12,357) $ (1,267) $ (13,624) $ (13,119) $ (2,640) $ (15,759) Basic and diluted net loss per common share $ (0.14) $ (0.15) $ (0.19) $ (0.23) Shares used to compute basic and diluted net loss per common share 90,115,859 90,115,859 69,133,700 69,133,700 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 33,604 $ — $ 33,604 $ 13,325 $ 160 $ 13,485 Total revenues 33,604 — 33,604 13,325 160 13,485 Operating expenses: Research and development 35,850 575 36,425 35,421 1,590 37,011 General and administrative 7,608 888 8,496 9,278 1,403 10,681 Total operating expenses 43,458 1,463 44,921 44,699 2,993 47,692 Loss from operations (9,854) (1,463) (11,317) (31,374) (2,833) (34,207) Other income (expense), net: Interest income (expense), net 855 — 855 (26) — (26) Total other income (expense), net 855 — 855 (26) — (26) Loss before income tax expense (8,999) (1,463) (10,462) (31,400) (2,833) (34,233) Income tax expense (149) — (149) — — — Net loss and comprehensive loss $ (9,148) $ (1,463) $ (10,611) $ (31,400) $ (2,833) $ (34,233) Basic and diluted net loss per common share $ (0.11) $ (0.13) $ (0.46) $ (0.50) Shares used to compute basic and diluted net loss per common share 84,409,667 84,409,667 68,638,651 68,638,651 Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 11,250 $ — $ 11,250 $ 40,744 $ — $ 40,744 Product revenue 1,468 — 1,468 — — — Total revenues 12,718 — 12,718 40,744 — 40,744 Operating expenses: Cost of product revenue 387 — 387 — — — Research and development 17,330 59 17,389 20,041 242 20,283 General and administrative 3,556 876 4,432 5,780 490 6,270 Total operating expenses 21,273 935 22,208 25,821 732 26,553 Income (loss) from operations (8,555) (935) (9,490) 14,923 (732) 14,191 Other income, net: Interest income, net 613 — 613 55 — 55 Total other income, net 613 — 613 55 — 55 Net income (loss) before income tax expense (7,942) (935) (8,877) 14,978 (732) 14,246 Income tax expense (230) — (230) — — — Net income (loss) and comprehensive income (loss) (8,172) (935) (9,107) 14,978 (732) 14,246 Allocation of earnings to participating securities — — — (3,081) 150 (2,931) Net income (loss) attributable to common stockholders $ (8,172) $ (935) $ (9,107) $ 11,897 $ (582) $ 11,315 Basic net earnings (loss) per common share (11) $ (0.09) $ (0.10) $ 0.17 $ 0.16 Diluted net earnings (loss) per common share (11) $ (0.09) $ (0.10) $ 0.17 $ 0.16 Shares used to compute basic net earnings (loss) per common share 90,287,441 90,287,441 70,217,985 70,217,985 Shares used to compute diluted net earnings (loss) per common share 90,287,441 90,287,441 88,592,568 88,592,568 (11) As the Company was in an income position for the three-months ended September 30, 2022, the two-class method was used to compute basic net earnings per share and the Company calculated diluted net earnings per share based on the more dilutive of (1) the treasury stock method, reverse treasury stock method or if-converted method, as applicable, or (2) the two-class method. Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Revenues: Collaboration revenue $ 44,854 $ — $ 44,854 $ 54,069 $ 160 $ 54,229 Product revenue 1,468 — 1,468 — — — Total revenues 46,322 — 46,322 54,069 160 54,229 Operating expenses: Cost of product revenue 387 — 387 — — — Research and development 53,180 634 53,814 55,462 1,832 57,294 General and administrative 11,164 1,764 12,928 15,058 1,893 16,951 Total operating expenses 64,731 2,398 67,129 70,520 3,725 74,245 Loss from operations (18,409) (2,398) (20,807) (16,451) (3,565) (20,016) Other income, net: Interest income, net 1,468 — 1,468 29 — 29 Total other income, net 1,468 — 1,468 29 — 29 Net loss before income tax expense (16,941) (2,398) (19,339) (16,422) (3,565) (19,987) Income tax expense (379) — (379) — — — Net loss and comprehensive loss $ (17,320) $ (2,398) $ (19,718) $ (16,422) $ (3,565) $ (19,987) Basic and diluted net loss per common share $ (0.20) $ (0.23) $ (0.24) $ (0.29) Shares used to compute basic and diluted net loss per common share 86,390,446 86,390,446 69,170,865 69,170,865 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net income (loss) $ 3,209 $ (196) $ 3,013 $ (18,281) $ (193) $ (18,474) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 640 — 640 1,338 — 1,338 Non-cash operating lease expense 288 (26) 262 258 (24) 234 Depreciation and amortization 32 — 32 39 — 39 Amortization of costs to obtain a contract with a customer 475 — 475 — — — Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable (19,993) (295) (20,288) (3,427) — (3,427) Prepaid expenses, other current assets, and other assets 872 (24) 848 (1,120) — (1,120) Accounts payable and accrued liabilities 3,116 76 3,192 657 — 657 Accrued indirect tax liabilities — 261 261 — 353 353 Accrued compensation and benefits 921 — 921 (1,953) — (1,953) Contract liabilities (142) 178 36 (844) (160) (1,004) Operating lease liabilities (316) 26 (290) (276) 24 (252) Net cash used in operating activities (10,898) — (10,898) (23,608) — (23,608) Investing activities: Purchases of property and equipment (94) — (94) (84) — (84) Net cash used in investing activities (94) — (94) (84) — (84) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,593 — 17,593 — — — Proceeds from public offering of common stock, net of issuance costs 8,630 — 8,630 500 — 500 Proceeds from exercise of stock options 14 — 14 — — — Principal repayments of Term Loan — — — (1,111) — (1,111) Net cash provided by (used in) financing activities 26,237 — 26,237 (611) — (611) Net increase (decrease) in cash and cash equivalents 15,245 — 15,245 (24,303) — (24,303) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 47,976 $ — $ 47,976 $ 37,970 $ — $ 37,970 Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 25 $ — $ 25 Non-cash investing activity: Purchases of property and equipment, included in accounts payable and accrued liabilities $ 55 $ — $ 55 $ 16 $ — $ 16 Non-cash financing activities: Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities $ 337 $ — $ 337 $ — $ 720 $ 720 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (9,148) $ (1,463) $ (10,611) $ (31,400) $ (2,833) $ (34,233) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,435 — 1,435 2,016 — 2,016 Non-cash operating lease expense 664 (25) 639 523 (47) 476 Depreciation and amortization 57 — 57 77 — 77 Amortization of costs to obtain a contract with a customer 40 — 40 — — — Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable 350 — 350 524 — 524 Inventory (1,954) (434) (2,388) — — — Prepaid expenses, other current assets, and other assets 2,120 — 2,120 (2,567) — (2,567) Accounts payable and accrued liabilities 2,870 — 2,870 (483) — (483) Accrued indirect tax liabilities — 1,897 1,897 — 2,993 2,993 Accrued compensation and benefits (1,277) — (1,277) (1,324) — (1,324) Contract liabilities (2,613) — (2,613) (2,252) (160) (2,412) Operating lease liabilities (620) 25 (595) (559) 47 (512) Net cash used in operating activities (8,076) — (8,076) (35,444) — (35,444) Investing activities: Purchases of property and equipment (201) — (201) (100) — (100) Net cash used in investing activities (201) — (201) (100) — (100) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,256 — 17,256 — — — Proceeds from public offering of common stock, net of issuance costs 8,706 — 8,706 500 — 500 Proceeds from exercise of stock options 14 — 14 — — — Principal repayments of Term Loan — — — (2,222) — (2,222) Net cash provided by (used in) financing activities 25,976 — 25,976 (1,722) — (1,722) Net increase (decrease) in cash and cash equivalents 17,699 — 17,699 (37,266) — (37,266) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 50,430 $ — $ 50,430 $ 25,007 $ — $ 25,007 Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 38 $ — $ 38 Income taxes paid $ 588 $ — $ 588 $ — $ — $ — Non-cash investing activity: Operating lease right-of-use asset obtained in exchange for lease liability $ 3,847 $ — $ 3,847 $ — $ — $ — Non-cash financing activities: Purchase of shares pursuant to Employee Stock Purchase Plan $ 63 $ — $ 63 $ 69 $ — $ 69 Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities $ — $ — $ — $ 720 $ — $ 720 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Operating activities: Net loss $ (17,320) $ (2,398) $ (19,718) $ (16,422) $ (3,565) $ (19,987) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 2,231 — 2,231 2,859 — 2,859 Non-cash operating lease expense 921 (26) 895 796 (72) 724 Depreciation and amortization 79 — 79 114 — 114 Amortization of costs to obtain a contract with a customer 53 — 53 1,772 — 1,772 Non-cash interest expense — — — 1 — 1 Changes in assets and liabilities: Accounts receivable 2,978 (323) 2,655 314 — 314 Inventory (2,467) (434) (2,901) — — — Prepaid expenses, other current assets, and other assets 2,776 — 2,776 (1,662) — (1,662) Accounts payable and accrued liabilities 6,204 — 6,204 (1,037) — (1,037) Accrued indirect tax liabilities — 3,155 3,155 — 3,725 3,725 Accrued compensation and benefits (402) — (402) (670) — (670) Contract liabilities (3,956) — (3,956) 7,314 (160) 7,154 Operating lease liabilities (807) 26 (781) (850) 72 (778) Net cash used in operating activities (9,710) — (9,710) (7,471) — (7,471) Investing activities: Purchases of property and equipment (327) — (327) (109) — (109) Net cash used in investing activities (327) — (327) (109) — (109) Financing activities: Proceeds from underwritten public offering, net of issuance costs 17,256 — 17,256 — — — Proceeds from public offering of common stock, net of issuance costs 8,706 — 8,706 1,698 — 1,698 Proceeds from exercise of stock options 14 — 14 — — — Issuance costs for underwritten public offering — — — (720) — (720) Principal repayments of Term Loan — — — (2,593) — (2,593) Net cash provided by (used in) financing activities 25,976 — 25,976 (1,615) — (1,615) Net increase (decrease) in cash and cash equivalents 15,939 — 15,939 (9,195) — (9,195) Cash and cash equivalents at beginning of period 32,731 — 32,731 62,273 — 62,273 Cash and cash equivalents at end of period $ 48,670 $ — $ 48,670 $ 53,078 $ — $ 53,078 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Corrected Condensed Consolidated Statement of Cash Flows (unaudited) As Previously Reported Restatement Adjustment As Restated As Previously Reported Restatement Adjustment As Restated Supplemental disclosure of cash flows: Interest paid $ — $ — $ — $ 40 $ — $ 40 Income taxes paid $ 651 $ — $ 651 $ — $ — $ — Non-cash investing activity: Purchases of property and equipment, included in accounts payable and accrued liabilities $ 178 $ — $ 178 $ — $ — $ — Operating lease right-of-use asset obtained in exchange for lease liability $ 3,847 $ — $ 3,847 $ — $ — $ — Non-cash financing activities: Purchase of shares pursuant to Employee Stock Purchase Plan $ 63 $ — $ 63 $ 69 $ — $ 69 Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets $ — $ — $ — $ 10 $ — $ 10

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following unaudited pro forma financial information presents the Company’s basic and diluted net loss per share upon effectiveness of the Reverse Stock Split for the periods indicated (in thousands, except share and per share data): Years ended December 31, 2023 2022 As Restated Net loss and comprehensive loss $ (22,931) $ (33,584) Basic and diluted net loss per common share $ (5.25) $ (9.61) Shares used to compute basic and diluted net loss per common share 4,371,371 3,492,884

THE COMPANY AND BASIS OF PRES_3

THE COMPANY AND BASIS OF PRESENTATION - Additional Information (Details) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accumulated deficit	$ 438,218	$ 429,111	$ 415,487	$ 404,903	$ 419,149	$ 403,390	$ 429,111	$ 419,149	$ 438,218	$ 404,903	$ 441,431	$ 418,500
Cash and cash equivalents	48,670	50,430	47,976	53,078	24,637	36,488	50,430	24,637	48,670	53,078	$ 35,778	32,731
Number of operating segments | segment											1
Accrued indirect tax liabilities	14,689	13,431	11,795	11,314	10,582	7,942	13,431	10,582	14,689	11,314	$ 18,040	11,534
Operating expenses	$ 22,208	$ 21,595	$ 23,326	$ 26,553	$ 21,969	$ 25,723	$ 44,921	$ 47,692	$ 67,129	$ 74,245	$ 88,388	97,951
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accumulated deficit												7,600	$ 3,900
Accrued indirect tax liabilities												11,500	7,600
Operating expenses												$ 3,900	$ 3,700

THE COMPANY AND BASIS OF PRES_4

THE COMPANY AND BASIS OF PRESENTATION - Corrected Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating lease right-of-use asset	$ 3,788	$ 4,050	$ 4,307	$ 836	$ 1,099	$ 1,354	$ 1,602	$ 1,846
Total assets	67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
Accrued indirect tax liabilities	18,040	14,689	13,431	11,795	11,534	11,314	10,582	7,942
Current portion of operating lease liability	1,082	970	861	920	1,211	1,169	1,129	1,090
Total current liabilities	67,418	50,228	44,770	47,482	41,400	44,255	41,933	40,667
Total liabilities	75,240	70,038	65,922	66,868	61,925	68,968	57,905	58,816
Accumulated deficit	(441,431)	(438,218)	(429,111)	(415,487)	(418,500)	(404,903)	(419,149)	(403,390)
Total stockholders’ deficit	(8,210)	(5,894)	2,417	15,107	(14,438)	(2,247)	(18,543)	(3,705)	$ 13,104
Total liabilities and stockholders’ deficit	$ 67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating lease right-of-use asset		4,131	4,388	917	1,205	1,491	1,764	2,030
Total assets		63,468	67,986	81,736	47,593	66,858	39,524	55,295
Accrued indirect tax liabilities		0	0	0	0	0	0	0
Current portion of operating lease liability		1,051	942	1,001	1,317	1,277	1,233	1,190
Total current liabilities		35,620	31,420	35,663	29,972	33,049	31,455	32,105
Total liabilities		55,430	52,572	54,899	50,497	57,791	47,485	50,338
Accumulated deficit		(424,286)	(416,114)	(403,757)	(406,966)	(393,589)	(408,567)	(395,448)
Total stockholders’ deficit		8,038	15,414	26,837	(2,904)	9,067	(7,961)	4,957	21,573
Total liabilities and stockholders’ deficit		63,468	67,986	81,736	47,593	66,858	39,524	55,295
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating lease right-of-use asset		(81)	(81)	(81)	(106)	(137)	(162)	(184)
Total assets		676	353	239	(106)	(137)	(162)	(184)
Accrued indirect tax liabilities		14,689	13,431	11,795	11,534	11,314	10,582	7,942
Current portion of operating lease liability		(81)	(81)	(81)	(106)	(108)	(104)	(100)
Total current liabilities		14,608	13,350	11,819	11,428	11,206	10,478	8,562
Total liabilities		14,608	13,350	11,969	11,428	11,177	10,420	8,478
Accumulated deficit		(13,932)	(12,997)	(11,730)	(11,534)	(11,314)	(10,582)	(7,942)
Total stockholders’ deficit		(13,932)	(12,997)	(11,730)	(11,534)	(11,314)	(10,582)	(8,662)	$ (8,469)
Total liabilities and stockholders’ deficit		$ 676	$ 353	$ 239	$ (106)	$ (137)	$ (162)	$ (184)

THE COMPANY AND BASIS OF PRES_5

THE COMPANY AND BASIS OF PRESENTATION - Corrected Consolidated Statement of Operations and Comprehensive Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Collaboration revenue	$ 11,250	$ 7,497	$ 26,107	$ 40,744	$ 6,216	$ 7,269	$ 33,604	$ 13,485	$ 44,854	$ 54,229	$ 59,570	$ 64,448
Total revenues	12,718	7,497	26,107	40,744	6,216	7,269	33,604	13,485	46,322	54,229	63,905	64,448
Research and development	17,389	17,556	18,869	20,283	16,630	20,381	36,425	37,011	53,814	57,294	68,532	77,405
Selling, general and administrative	4,432	4,039	4,457	6,270	5,339	5,342	8,496	10,681	12,928	16,951	18,333	20,546
Total operating expenses	22,208	21,595	23,326	26,553	21,969	25,723	44,921	47,692	67,129	74,245	88,388	97,951
Loss from operations	(9,490)	(14,098)	2,781	14,191	(15,753)	(18,454)	(11,317)	(34,207)	(20,807)	(20,016)	(24,483)	(33,503)
Loss before income tax expense	(8,877)	(13,475)		14,246	(15,759)		(10,462)	(34,233)	(19,339)	(19,987)	(22,488)	(33,312)
Net loss and comprehensive loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)	(10,611)	(34,233)	(19,718)	(19,987)	(22,931)	(33,584)
Net loss and comprehensive loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Basic net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Diluted net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Shares used to compute basic net loss per common share (in shares)	90,287,441	90,115,859	78,640,086	70,217,985	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Collaboration revenue	$ 11,250	$ 7,614	$ 25,990	$ 40,744	$ 6,216	$ 7,109	$ 33,604	$ 13,325	$ 44,854	$ 54,069		$ 64,288
Total revenues	12,718	7,614	25,990	40,744	6,216	7,109	33,604	13,325	46,322	54,069		64,288
Research and development	17,330	17,135	18,715	20,041	15,255	20,166	35,850	35,421	53,180	55,462		75,520
Selling, general and administrative	3,556	3,310	4,298	5,780	4,074	5,204	7,608	9,278	11,164	15,058		18,486
Total operating expenses	21,273	20,445	23,013	25,821	19,329	25,370	43,458	44,699	64,731	70,520		94,006
Loss from operations	(8,555)	(12,831)	2,977	14,923	(13,113)	(18,261)	(9,854)	(31,374)	(18,409)	(16,451)		(29,718)
Loss before income tax expense	(7,942)	(12,208)		14,978	(13,119)		(8,999)	(31,400)	(16,941)	(16,422)		(29,527)
Net loss and comprehensive loss	(8,172)	(12,357)	3,209	14,978	(13,119)	(18,281)	(9,148)	(31,400)	(17,320)	(16,422)		(29,799)
Net loss and comprehensive loss	$ (8,172)	$ (12,357)	$ 3,209	$ 14,978	$ (13,119)	$ (18,281)	$ (9,148)	$ (31,400)	$ (17,320)	$ (16,422)		$ (29,799)
Basic net loss per common share (USD per share)	$ (0.09)	$ (0.14)	$ 0.03	$ 0.17	$ (0.19)	$ (0.27)	$ (0.11)	$ (0.46)	$ (0.20)	$ (0.24)		$ (0.43)
Diluted net loss per common share (USD per share)	$ (0.09)	$ (0.14)	$ 0.03	$ 0.17	$ (0.19)	$ (0.27)	$ (0.11)	$ (0.46)	$ (0.20)	$ (0.24)		$ (0.43)
Shares used to compute basic net loss per common share (in shares)	90,287,441	90,115,859	78,640,086	70,217,985	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865		69,857,698
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865		69,857,698
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Collaboration revenue	$ 0	$ (117)	$ 117	$ 0	$ 0	$ 160	$ 0	$ 160	$ 0	$ 160		$ 160
Total revenues	0	(117)	117	0	0	160	0	160	0	160		160
Research and development	59	421	154	242	1,375	215	575	1,590	634	1,832		1,885
Selling, general and administrative	876	729	159	490	1,265	138	888	1,403	1,764	1,893		2,060
Total operating expenses	935	1,150	313	732	2,640	353	1,463	2,993	2,398	3,725		3,945
Loss from operations	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Loss before income tax expense	(935)	(1,267)		(732)	(2,640)		(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Net loss and comprehensive loss	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Net loss and comprehensive loss	$ (935)	$ (1,267)	$ (196)	$ (732)	$ (2,640)	$ (193)	$ (1,463)	$ (2,833)	$ (2,398)	$ (3,565)		$ (3,785)

THE COMPANY AND BASIS OF PRES_6

THE COMPANY AND BASIS OF PRESENTATION - Corrected Consolidated Statement of Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	$ 2,417	$ 15,107	$ (14,438)	$ (18,543)	$ (3,705)	$ 13,104	$ (14,438)	$ 13,104	$ (14,438)	$ 13,104	$ (14,438)	$ 13,104
Net loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)	(10,611)	(34,233)	(19,718)	(19,987)	(22,931)	(33,584)
Balance, ending	(5,894)	2,417	15,107	(2,247)	(18,543)	(3,705)	2,417	(18,543)	(5,894)	(2,247)	(8,210)	(14,438)
Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												0
Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	431,519	430,585	404,055	400,599	399,678	398,013	404,055	398,013	404,055	398,013	404,055	398,013
Balance, ending	432,315	431,519	430,585	402,649	400,599	399,678	431,519	400,599	432,315	402,649	433,212	404,055
Additional Paid-In Capital | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												0
Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	(429,111)	(415,487)	(418,500)	(419,149)	(403,390)	(384,916)	(418,500)	(384,916)	(418,500)	(384,916)	(418,500)	(384,916)
Net loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)					(22,931)	(33,584)
Balance, ending	(438,218)	(429,111)	(415,487)	(404,903)	(419,149)	(403,390)	(429,111)	(419,149)	(438,218)	(404,903)	(441,431)	(418,500)
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	15,414	26,837	(2,904)	(7,961)	4,957	21,573	(2,904)	21,573	(2,904)	21,573	(2,904)	21,573
Net loss	(8,172)	(12,357)	3,209	14,978	(13,119)	(18,281)	(9,148)	(31,400)	(17,320)	(16,422)		(29,799)
Balance, ending	8,038	15,414	26,837	9,067	(7,961)	4,957	15,414	(7,961)	8,038	9,067		(2,904)
As Previously Reported | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												(720)
As Previously Reported | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning			404,055			398,733	404,055	398,733	404,055	398,733	404,055	398,733
Balance, ending												404,055
As Previously Reported | Additional Paid-In Capital | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												(720)
As Previously Reported | Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning			(406,966)			(377,167)	(406,966)	(377,167)	(406,966)	(377,167)	(406,966)	(377,167)
Net loss												(29,799)
Balance, ending												(406,966)
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	(12,997)	(11,730)	(11,534)	(10,582)	(8,662)	(8,469)	(11,534)	(8,469)	(11,534)	(8,469)	(11,534)	(8,469)
Net loss	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Balance, ending	$ (13,932)	$ (12,997)	(11,730)	$ (11,314)	$ (10,582)	(8,662)	(12,997)	(10,582)	(13,932)	(11,314)		(11,534)
Restatement Adjustment | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												720
Restatement Adjustment | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning			0			(720)	0	(720)	0	(720)	0	(720)
Balance, ending												0
Restatement Adjustment | Additional Paid-In Capital | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance costs for underwritten public offering												720
Restatement Adjustment | Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning			$ (11,534)			$ (7,749)	$ (11,534)	$ (7,749)	$ (11,534)	$ (7,749)	$ (11,534)	(7,749)
Net loss												(3,785)
Balance, ending												$ (11,534)

THE COMPANY AND BASIS OF PRES_7

THE COMPANY AND BASIS OF PRESENTATION - Corrected Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash operating lease expense			262			234	639	476	895	724	1,158	981
Changes in assets and liabilities:
Accrued indirect tax liabilities			261			353	1,897	2,993	3,155	3,725		3,945
Contract liabilities			36			(1,004)	(2,613)	(2,412)	(3,956)	7,154	(5,799)	2,646
Operating lease liabilities			(290)			(252)	(595)	(512)	(781)	(778)	$ (973)	(1,052)
As Previously Reported
Operating activities:
Net loss	(8,172)	(12,357)	3,209	14,978	(13,119)	(18,281)	(9,148)	(31,400)	(17,320)	(16,422)		(29,799)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash operating lease expense			288			258	664	523	921	796		1,082
Changes in assets and liabilities:
Accrued indirect tax liabilities			0			0	0	0	0	0		0
Contract liabilities			(142)			(844)	(2,613)	(2,252)	(3,956)	7,314		2,806
Operating lease liabilities			(316)			(276)	(620)	(559)	(807)	(850)		(1,153)
Restatement Adjustment
Operating activities:
Net loss	$ (935)	$ (1,267)	(196)	$ (732)	$ (2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash operating lease expense			(26)			(24)	(25)	(47)	(26)	(72)		(101)
Changes in assets and liabilities:
Accrued indirect tax liabilities			261			353	1,897	2,993	3,155	3,725		3,945
Contract liabilities			178			(160)	0	(160)	0	(160)		(160)
Operating lease liabilities			$ 26			$ 24	$ 25	$ 47	$ 26	$ 72		$ 101

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - obligation	12 Months Ended
	Dec. 31, 2023	Jul. 31, 2022	Mar. 31, 2021	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Expected dividend yield (as a percent)	0%
Mundipharma Medical Company
Property, Plant and Equipment [Line Items]
Number of performance obligations				3
Janssen Pharmaceuticals, Inc.
Property, Plant and Equipment [Line Items]
Number of performance obligations			1
Janssen Pharmaceuticals, Inc. | Janssen Collaboration Agreement
Property, Plant and Equipment [Line Items]
Number of performance obligations			3
Melinta Therapeutics Inc
Property, Plant and Equipment [Line Items]
Number of performance obligations		3
Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded in the calculation of diluted net loss per share (in shares)	33,826,119	40,025,543
Common stock warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded in the calculation of diluted net loss per share (in shares)	17,331	12,517,328
Series X Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded in the calculation of diluted net loss per share (in shares)	21,044,720	18,184,720
Common stock options, RSUs and PRSUs issued and outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded in the calculation of diluted net loss per share (in shares)	12,764,068	9,323,495

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Cash and money market accounts	$ 35,778	$ 32,731
Total assets at fair value	35,778	32,731
LEVEL 1
Assets:
Cash and money market accounts	35,778	32,731
Total assets at fair value	35,778	32,731
LEVEL 2
Assets:
Cash and money market accounts	0	0
Total assets at fair value	0	0
LEVEL 3
Assets:
Cash and money market accounts	0	0
Total assets at fair value	$ 0	$ 0

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 2,691			$ 0
Work-in-process	3,406			0
Finished goods	0			0
Total inventory	$ 6,097	$ 2,901	$ 2,388	$ 0	$ 0	$ 0

INVENTORY - Narrative (Details)

INVENTORY - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Inventory Disclosure [Abstract]
Inventory write-down	$ 0

PROPERTY AND EQUIPMENT - Summar

PROPERTY AND EQUIPMENT - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,747				$ 3,380
Less accumulated depreciation and amortization	(3,190)				(3,158)
Total	557	$ 580	$ 297	$ 270	222	$ 173	$ 201	$ 239
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,817				2,415
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	425				425
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	327				305
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	36				93
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 142				$ 142

PROPERTY AND EQUIPMENT - Additi

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization of property and equipment	$ 32	$ 39	$ 57	$ 77	$ 79	$ 114	$ 112	$ 143

DEBT (Details)

DEBT (Details) - Term Loan - Term A Loan	Oct. 03, 2016 USD ($)
Debt Instrument [Line Items]
Borrowed from the lender	$ 10,000,000
Variable annual rate (as a percent)	4.50%
Prime Rate
Debt Instrument [Line Items]
Prime interest rate (as a percent)	0.75%

STOCKHOLDERS_ EQUITY - Addition

STOCKHOLDERS’ EQUITY - Additional Information (Details)			1 Months Ended	12 Months Ended
	Mar. 07, 2023 USD ($) $ / shares shares	Aug. 12, 2020 shares	May 31, 2018 $ / shares shares	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2023 $ / shares shares	Jun. 30, 2023 $ / shares shares	Mar. 31, 2023 $ / shares shares	Sep. 30, 2022 $ / shares shares	Jun. 30, 2022 $ / shares shares	Mar. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)				10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, par value (USD per share) | $ / shares				$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)				200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Number of votes for each share held | vote				1
Dividends in arrears or default | $				$ 0
Common Stock Warrant
Class of Stock [Line Items]
Outstanding warrants to purchase common stock (in shares)				17,331	12,517,328
Warrants expired (in shares)				12,499,997
Warrants, aggregate intrinsic value, outstanding | $				$ 0	$ 0
Common Stock Warrant | Weighted Average
Class of Stock [Line Items]
Warrants weighted average exercise price (USD per share) | $ / shares				$ 11.54	$ 6.82
Series X Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)			5,000,000	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759
Preferred stock, par value (USD per share) | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Issuance of series X convertible preferred stock in exchange for common stock (in shares)		52,241
Common stock issued for each preferred stock (in shares)			10
Maximum ownership following conversion (as a percent)			9.99%
Common Stock
Class of Stock [Line Items]
Issuance of series X convertible preferred stock in exchange for common stock (in shares)		522,410
Controlled Equity Sales Agreement, Cantor Fitzgerald and Company
Class of Stock [Line Items]
Shares sold (in shares)				6,219,741	3,414,926
Net proceeds | $				$ 8,700,000	$ 2,400,000
Sale of stock, consideration remaining on transaction | $				$ 37,100,000
2023 Underwritten Public Offering
Class of Stock [Line Items]
Net proceeds | $	$ 17,300,000
Consideration received per transaction | $	$ 19,500,000
2023 Underwritten Public Offering | Series X Convertible Preferred Stock
Class of Stock [Line Items]
Shares sold (in shares)	286,000
Offering price (USD per share) | $ / shares	$ 12.67
2023 Underwritten Public Offering | Common Stock
Class of Stock [Line Items]
Shares sold (in shares)	11,086,000
Offering price (USD per share) | $ / shares	$ 1.267
Over-Allotment Option | Common Stock
Class of Stock [Line Items]
Shares sold (in shares)	1,446,000

STOCKHOLDERS_ EQUITY - Summary

STOCKHOLDERS’ EQUITY - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total (in shares)	38,225,338	45,302,480
Common stock warrants
Class of Stock [Line Items]
Total (in shares)	17,331	12,517,328
Series X Convertible Preferred Stock
Class of Stock [Line Items]
Total (in shares)	21,044,720	18,184,720
Common stock options, RSUs and PRSUs issued and outstanding
Class of Stock [Line Items]
Total (in shares)	12,764,068	9,323,495
Authorized for future stock awards
Class of Stock [Line Items]
Total (in shares)	3,411,463	4,469,969
Awards available under the ESPP
Class of Stock [Line Items]
Total (in shares)	987,756	806,968

EQUITY INCENTIVE PLANS - Additi

EQUITY INCENTIVE PLANS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of employee stock options granted (USD per share)		$ 0.72	$ 0.51
Unrecognized share-based compensation expense, options		$ 2.4
Restricted Stock Units and Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period to recognize unrecognized compensation cost (in years)		2 years
RSUs and PRSUs granted (USD per share)		$ 1	$ 0.83
Fair value of RSUs and PRSUs		$ 0.7	$ 1.6
Estimated unrecognized share-based compensation expense (in years)		$ 1.7
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period to recognize unrecognized compensation cost (in years)		1 year 10 months 24 days
2015 EIP and 2020 IIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic annual increase in shares authorized for issuance in equity incentive plan (as a percent)	4%
Term for stock options to be granted (in years)	10 years
Price of stock option as percentage of estimated fair value of shares on date of grant (as a percent)	100%
Voting power threshold (as a percent)	10%
2015 EIP and 2020 IIP | More than 10% of voting power
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price of stock option as percentage of estimated fair value of shares on date of grant (as a percent)	110%
2015 EIP and 2020 IIP | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
2015 EIP and 2020 IIP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
2015 ESPP | ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic annual increase in shares authorized for issuance in equity incentive plan (as a percent)	1%
Price of stock option as percentage of estimated fair value of shares on date of grant (as a percent)	85%
Employee payroll deduction under the stock plan (as a percent)	15%
Issuance of common stock under Employee Stock Purchase Plan (in shares)		309,548	363,596
Weighted-average period to recognize unrecognized compensation cost (in years)		4 months 24 days
2015 ESPP | Maximum | ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares outstanding (in shares)	490,336

EQUITY INCENTIVE PLANS - Summar

EQUITY INCENTIVE PLANS - Summary of Restricted Stock Units and Performance-based Restricted Stock Units Activity (Details) - Restricted Stock Units and Performance-based Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of RSUs and PRSUs
Outstanding, beginning balance (in shares)	1,223,871
Granted (in shares)	1,515,817
Vested (in shares)	(490,520)
Canceled (in shares)	(151,115)
Outstanding, ending balance (in shares)	2,098,053	1,223,871
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (USD per share)	$ 1.47
Granted (USD per share)	1	$ 0.83
Vested (USD per share)	1.48
Granted (USD per share)	1.29
Outstanding, end of period (USD per share)	$ 1.14	$ 1.47

EQUITY INCENTIVE PLANS - Summ_2

EQUITY INCENTIVE PLANS - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Outstanding, beginning balance (in shares)	8,099,624
Options granted (in shares)	3,233,558
Options exercised (in shares)	(25,750)
Options canceled (in shares)	(641,417)
Outstanding, ending balance (in shares)	10,666,015	8,099,624
Vested and expected to vest (in shares)	10,666,015
Exercisable (in shares)	7,236,987
Weighted Average Exercise Price
Outstanding, beginning balance (USD per share)	$ 2.78
Options granted (USD per share)	1.02
Options exercised (USD per share)	0.83
Options canceled (USD per share)	3.12
Outstanding, ending balance (USD per share)	2.23	$ 2.78
Vested and expected to vest (USD per share)	2.23
Exercisable (USD per share)	$ 2.75
Weighted Average Remaining Contractual Life in Years
Outstanding (in years)	6 years 8 months 19 days	6 years 7 months 24 days
Vested and expected to vest (in years)	6 years 8 months 19 days
Exercisable (in years)	5 years 8 months 15 days
Total Aggregate Intrinsic Value (in thousands)
Outstanding	$ 57	$ 48
Vested and expected to vest	57
Exercisable	$ 54

EQUITY INCENTIVE PLANS - Summ_3

EQUITY INCENTIVE PLANS - Summary of Black-Scholes Option Pricing Model Assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield (as a percent)	0%
2015 EIP and 2020 IIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum (as a percent)	3.58%	1.39%
Risk-free interest rate, maximum (as a percent)	4.61%	4.02%
Expected dividend yield (as a percent)	0%	0%
Expected volatility, minimum (as a percent)	82%	70%
Expected volatility, maximum (as a percent)	83%	75%
2015 EIP and 2020 IIP | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	5 years 6 months
2015 EIP and 2020 IIP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 29 days	6 years 29 days
2015 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum (as a percent)	4.29%	1.57%
Risk-free interest rate, maximum (as a percent)	5.43%	2.65%
Expected dividend yield (as a percent)	0%	0%
Expected volatility, minimum (as a percent)	64%	75%
Expected volatility, maximum (as a percent)	147%	98%
2015 ESPP | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
2015 ESPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years	2 years

EQUITY INCENTIVE PLANS - Summ_4

EQUITY INCENTIVE PLANS - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ 3,061	$ 3,705
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	1,592	1,760
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ 1,469	$ 1,945

SIGNIFICANT AGREEMENTS AND CO_3

SIGNIFICANT AGREEMENTS AND CONTRACTS - Additional Information (Details) - USD ($)				1 Months Ended									3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Jul. 26, 2022	Mar. 31, 2021	Sep. 03, 2019	Apr. 22, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Aug. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	May 31, 2021	Sep. 30, 2019	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue													$ 11,250,000	$ 7,497,000	$ 26,107,000	$ 40,744,000	$ 6,216,000	$ 7,269,000	$ 33,604,000	$ 13,485,000	$ 44,854,000	$ 54,229,000	$ 59,570,000	$ 64,448,000
Capitalized contract cost, expense															475,000			0	40,000	0	53,000	1,772,000	77,000	0
Accounts receivable					$ 16,246,000	$ 3,178,000	$ 26,121,000		$ 8,783,000				$ 3,178,000	$ 5,483,000	$ 26,121,000	$ 5,042,000	$ 4,833,000	$ 8,783,000	$ 5,483,000	$ 4,833,000	$ 3,178,000	$ 5,042,000	16,246,000	5,833,000
Mundipharma Medical Company | Related Party
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, cost sharing percentage (as a percent)			50%
Collaborative agreement, maximum cost share			$ 31,200,000																				31,200,000
Collaborative agreement, potential transaction value			$ 568,400,000
Payments related to collaborative agreement																							30,000,000
Accounts receivable					13,900,000																		13,900,000	200,000
Mundipharma Medical Company | Related Party | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, remaining performance obligation, amount					$ 11,500,000																		$ 11,500,000
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years)					2 years																		2 years
Mundipharma Medical Company | Related Party | Milestone Achievement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue					$ 11,100,000			$ 11,100,000		$ 2,800,000													$ 25,100,000
Revenue from collaborative arrangement, excluding revenue from contract with customer, uncredited portion					10,100,000																		10,100,000
Mundipharma Medical Company | Related Party | Milestone Achievement | Subsequent event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue				$ 2,800,000
Mundipharma Medical Company | Related Party | License Of Intellectual Property
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue												$ 17,900,000
Revenue from collaborative arrangement, excluding revenue from contract with customer, noncurrent liability																									$ 11,100,000
Mundipharma Medical Company | Related Party | Royalties
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue																							0	0
Janssen Pharmaceuticals, Inc. | Related Party
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, maximum cost share																							49,800,000
Payments related to collaborative agreement																							27,000,000
Collaborative arrangement, termination provisions, required period of written notice (in days)		90 days
Accounts receivable					1,900,000																		1,900,000	5,600,000
Janssen Pharmaceuticals, Inc. | Related Party | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, remaining performance obligation, amount					$ 3,800,000																		$ 3,800,000
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years)					6 months																		6 months
Janssen Pharmaceuticals, Inc. | Related Party | Upfront Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments related to collaborative agreement		$ 27,000,000
Janssen Pharmaceuticals, Inc. | Related Party | R&D Funding
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, potential transaction value		58,200,000
Janssen Pharmaceuticals, Inc. | Related Party | Development, Regulatory, and Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, potential transaction value		$ 695,000,000
Janssen Pharmaceuticals, Inc. | Related Party | Milestone Achievement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue						$ 7,000,000			$ 3,000,000														$ 10,000,000
Janssen Pharmaceuticals, Inc. | Related Party | License Of Intellectual Property
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue											$ 26,800,000
Janssen Pharmaceuticals, Inc. | Related Party | Royalties
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue																							0	0
Melinta Therapeutics Inc | License Of Intellectual Property
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Capitalized contract cost, gross					$ 2,000,000																		2,000,000
Capitalized contract cost, expense																							500,000	1,800,000
Capitalized contract cost, net					200,000																		200,000
Melinta Therapeutics Inc | Milestone Achievement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Capitalized contract cost, gross					500,000																		500,000
Melinta Therapeutics Inc | Related Party
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, potential transaction value	$ 460,000,000
Payments related to collaborative agreement																							30,000,000
Accounts receivable					400,000																		400,000
Melinta Therapeutics Inc | Related Party | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, remaining performance obligation, amount					$ 3,700,000																		$ 3,700,000
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years)					2 years																		2 years
Melinta Therapeutics Inc | Related Party | Upfront Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments related to collaborative agreement	30,000,000
Melinta Therapeutics Inc | Related Party | Development, Regulatory, and Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, potential transaction value	$ 430,000,000
Melinta Therapeutics Inc | Related Party | Milestone Achievement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue							$ 20,000,000																$ 20,000,000
Melinta Therapeutics Inc | Related Party | License Of Intellectual Property
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue								$ 25,900,000
Melinta Therapeutics Inc | Related Party | Royalties
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration revenue																							$ 200,000	$ 0

SIGNIFICANT AGREEMENTS AND CO_4

SIGNIFICANT AGREEMENTS AND CONTRACTS - Summary of Contract Liability Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Revenue From Collaborative Arrangement, Excluding Revenue From Contract With Customer, Liability [Roll Forward]
Closing balance	$ 29,340
Current portion of contract liabilities	25,095	$ 14,679	$ 14,975	$ 15,790	$ 14,614	$ 15,249	$ 14,730	$ 14,260
Long-term portion of contract liabilities	4,245	$ 16,504	$ 17,551	$ 19,386	20,525	$ 24,398	$ 15,351	$ 17,229
Total deferred revenue	29,340
Related Party
Revenue From Collaborative Arrangement, Excluding Revenue From Contract With Customer, Liability [Roll Forward]
Opening balance	35,139
Payments received in advance	1,755
Payments receivable	1,488
Revenue from performance obligations satisfied during reporting period	(9,042)
Closing balance	29,340
Total deferred revenue	$ 29,340				$ 35,139

SIGNIFICANT AGREEMENTS AND CO_5

SIGNIFICANT AGREEMENTS AND CONTRACTS - Summary of Revenues Disaggregated by Timing of Revenue Recognition (Details) - USD ($)

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Jun. 30, 2023

Jun. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2023

Dec. 31, 2022

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

$ 11,250,000

$ 7,497,000

$ 26,107,000

$ 40,744,000

$ 6,216,000

$ 7,269,000

$ 33,604,000

$ 13,485,000

$ 44,854,000

$ 54,229,000

$ 59,570,000

$ 64,448,000

Related Party | Mundipharma Medical Company | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

16,421,000

14,256,000

Related Party | Mundipharma Medical Company | License of Intellectual Property - upon transfer of license | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

Related Party | Mundipharma Medical Company | License of Intellectual Property - upon milestones achieved | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

3,252,000

3,252,000

Related Party | Mundipharma Medical Company | Clinical Drug Supply | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

26,000

484,000

Related Party | Mundipharma Medical Company | Royalties

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

0

Related Party | Mundipharma Medical Company | Royalties | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

Related Party | Mundipharma Medical Company | Research and Development Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

12,303,000

9,595,000

Related Party | Mundipharma Medical Company | Clinical Supply Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

840,000

925,000

Related Party | Janssen Pharmaceuticals, Inc. | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

23,283,000

23,496,000

Related Party | Janssen Pharmaceuticals, Inc. | License of Intellectual Property - upon transfer of license | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

Related Party | Janssen Pharmaceuticals, Inc. | License of Intellectual Property - upon milestones achieved | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

2,347,000

976,000

Related Party | Janssen Pharmaceuticals, Inc. | Clinical Drug Supply | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

0

Related Party | Janssen Pharmaceuticals, Inc. | Royalties

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

0

Related Party | Janssen Pharmaceuticals, Inc. | Royalties | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

Related Party | Janssen Pharmaceuticals, Inc. | Research and Development Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

19,011,000

18,814,000

Related Party | Janssen Pharmaceuticals, Inc. | Clinical Supply Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

1,925,000

3,706,000

Related Party | Melinta Therapeutics Inc | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

19,866,000

26,696,000

Related Party | Melinta Therapeutics Inc | License of Intellectual Property - upon transfer of license | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

25,885,000

Related Party | Melinta Therapeutics Inc | License of Intellectual Property - upon milestones achieved | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

17,257,000

0

Related Party | Melinta Therapeutics Inc | Clinical Drug Supply | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

0

0

Related Party | Melinta Therapeutics Inc | Royalties

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

200,000

0

Related Party | Melinta Therapeutics Inc | Royalties | Transferred at Point in Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

168,000

Related Party | Melinta Therapeutics Inc | Research and Development Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

2,441,000

811,000

Related Party | Melinta Therapeutics Inc | Clinical Supply Services | Transferred over Time | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaboration revenue

$ 0

$ 0

INCOME TAXES - Summary of Compo

INCOME TAXES - Summary of Components of Benefit For Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Current tax provision:
Federal									$ 393	$ 248
State									50	24
Total current tax provision									443	272
Deferred tax provision:
Federal									0	0
State									0	0
Total deferred tax provision									0	0
Income tax expense	$ 230	$ 149	$ 0	$ 0	$ 149	$ 0	$ 379	$ 0	$ 443	$ 272

INCOME TAXES - Summary of Recon

INCOME TAXES - Summary of Reconciliation Between Income Taxes Computed at Federal Statutory Rate and Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal income taxes at 21% for 2023 and 2022									$ (4,723)	$ (7,029)
Federal statutory income tax rate (as a percent)									21%	21%	21%
State income tax, net of federal benefit									$ (186)	$ (247)
Nondeductible expenses									260	415
Tax credits									(2,076)	(1,877)
Rate change									(54)	491
Change in valuation allowance									6,373	(19,684)
Reserve for uncertain tax positions									519	(10,423)
162m deferred tax asset limitation									128	82
382 NOL and tax credit limitation									0	37,513
Expired stock awards									174	1,052
Other									28	(21)
Income tax expense	$ 230	$ 149	$ 0	$ 0	$ 149	$ 0	$ 379	$ 0	$ 443	$ 272

INCOME TAXES - Summary of Signi

INCOME TAXES - Summary of Significant Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating losses	$ 35,506	$ 42,043
Tax credits	9,747	9,327
Intangibles	136	160
Capitalized R&D	25,871	14,706
Stock compensation	1,424	1,385
Lease liabilities	1,112	275
Deferred revenue	5,951	5,620
Accrued indirect tax liabilities	4,114	2,617
Other	725	1,018
Total deferred tax assets	84,586	77,151
Less valuation allowance	(83,086)	(76,713)
Deferred tax assets, net of valuation allowance	1,500	438
Deferred tax liabilities:
Prepaid expenses	(214)	(189)
Capitalized inventory costs	(244)	0
Right-of-use assets	(1,042)	(249)
Total deferred tax liabilities	(1,500)	(438)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Research and development credit carryforwards, no subject to expiration	$ 5,300
Increase (decrease) in deferred tax assets, valuation allowance	6,400	$ 19,700
Unrecognized tax benefits	11,520	$ 11,015	$ 23,990
Unrecognized tax benefits that would impact on effective tax rate	9,700
Federal
Income Tax Contingency [Line Items]
Net operating loss carryforwards	153,800
Tax credit carryforwards, research and development	9,500
State
Income Tax Contingency [Line Items]
Net operating loss carryforwards	131,200
Tax credit carryforwards, research and development	$ 5,300

INCOME TAXES - Summary of Rec_2

INCOME TAXES - Summary of Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Unrecognized tax benefits
Balance as of the beginning of the year	$ 11,015	$ 23,990
Increases related to current year tax positions	552	497
Decreases related to prior year tax positions	(47)	(13,472)
Balance as of the end of the year	$ 11,520	$ 11,015

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)		1 Months Ended	12 Months Ended
	Apr. 20, 2023 USD ($) option	Nov. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) claim	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of claims and actions pending | claim			0
Property, Plant and Equipment [Line Items]
Lessee, finance lease, term of contract (in years)		36 months
Lessee, finance lease, monthly rate		$ 25,009
Lessee, finance lease, option, purchase equipment		$ 1
Lessee, finance lease, discount rate (as a percent)			8%
Finance lease, weighted average remaining lease term (in years)			3 years 1 month 6 days
Finance lease payments			$ 0
Operating Lease Obligations
Lessee, operating lease, renewal term (in months)	36 months
Lessee, operating lease, monthly rate	$ 133,371
Percentage increase in base rent annual (as a percent)	4%
Number of options to extend | option	2
Lessee, operating lease, option renewal term (in years)	2 years
Lessee, operating lease, discount rate (as a percent)			12%
Operating lease, weighted average remaining lease term (in years)			3 years
Operating lease, payments			$ 1,300,000	$ 1,200,000
Operating lease costs			$ 1,600,000	$ 1,300,000
Operating lease cost, variable lease and short-term lease term (in days)			30 days
Laboratory equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)			10 years

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Summary of Amount, Timing and Uncertainty of Cash Flows from Finance Lease (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 275
2025	300
2026	300
2027	25
Total undiscounted finance lease payments	900
Less: Imputed interest	(107)
Present value of finance lease payments	$ 793

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Summary of Supplemental Balance Sheet Information For Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Finance lease right-of-use asset	$ 788
Accumulated amortization	(6)
Net finance lease right-of-use asset	782	$ 0
Current portion of finance lease liability	218	0
Long-term finance lease liability	575	$ 0
Long-term finance lease liability	$ 793

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Summary of Amount, Timing and Uncertainty of Cash Flows from Operating Lease (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 1,600
2025	1,665
2026	1,731
Total undiscounted operating lease payments	4,996
Less: Imputed interest	(912)
Present value of operating lease payments	$ 4,084

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Summary of Supplemental Balance Sheet Information For Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use asset	$ 3,788	$ 4,050	$ 4,307	$ 836	$ 1,099	$ 1,354	$ 1,602	$ 1,846
Current portion of operating lease liability	1,082	970	861	920	1,211	1,169	1,129	1,090
Long-term operating lease liability	3,002	$ 3,306	$ 3,601	$ 0	$ 0	$ 315	$ 621	$ 920
Total operating lease liabilities	$ 4,084

SELECTED QUARTERLY FINANCIAL _3

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Corrected Condensed Consolidated Balance Sheets (unaudited) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 35,778	$ 48,670	$ 50,430	$ 47,976	$ 32,731	$ 53,078	$ 24,637	$ 36,488
Restricted Cash			0	0			370	1,482
Accounts receivable	16,246	3,178	5,483	26,121	5,833	5,042	4,833	8,783
Inventory	6,097	2,901	2,388		0	0	0
Prepaid expenses and other current assets	2,734	3,712	4,373	5,711	6,530	5,779	6,706	5,254
Total current assets	60,855	58,461	62,674	79,808	45,094	63,899	36,546	52,007
Property and equipment, net	557	580	297	270	222	173	201	239
Operating lease right-of-use asset	3,788	4,050	4,307	836	1,099	1,354	1,602	1,846
Other assets	1,048	1,053	1,061	1,061	1,072	1,295	1,013	1,019
Total assets	67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
Current liabilities:
Accounts payable	3,772	3,661	1,899	4,026	1,447	4,244	3,091	2,861
Accrued liabilities	14,177	11,772	10,022	9,108	7,672	8,162	8,567	9,954
Accrued indirect tax liabilities	18,040	14,689	13,431	11,795	11,534	11,314	10,582	7,942
Accrued compensation and benefits	5,034	4,457	3,582	5,843	4,922	4,117	3,464	3,079
Current contract liabilities	25,095	14,679	14,975	15,790	14,614	15,249	14,730	14,260
Current portion of operating lease liability	1,082	970	861	920	1,211	1,169	1,129	1,090
Current portion of term loan			0	0			370	1,481
Total current liabilities	67,418	50,228	44,770	47,482	41,400	44,255	41,933	40,667
Long-term contract liabilities	4,245	16,504	17,551	19,386	20,525	24,398	15,351	17,229
Long-term operating lease liability	3,002	3,306	3,601	0	0	315	621	920
Total liabilities	75,240	70,038	65,922	66,868	61,925	68,968	57,905	58,816
Commitments and contingencies
Stockholders’ deficit:
Preferred stock
Common stock	9	9	9	9	7	7	7	7
Additional paid-in capital	433,212	432,315	431,519	430,585	404,055	402,649	400,599	399,678
Accumulated deficit	(441,431)	(438,218)	(429,111)	(415,487)	(418,500)	(404,903)	(419,149)	(403,390)
Total stockholders’ deficit	(8,210)	(5,894)	2,417	15,107	(14,438)	(2,247)	(18,543)	(3,705)	$ 13,104
Total liabilities and stockholders’ deficit	67,030	64,144	68,339	81,975	47,487	66,721	39,362	55,111
Series X Convertible Preferred Stock
Stockholders’ deficit:
Preferred stock	$ 0	0	0	0	0	0	0	0
As Previously Reported
Current assets:
Cash and cash equivalents		48,670	50,430	47,976		53,078	24,637	36,488
Restricted Cash			0	0			370	1,482
Accounts receivable		2,855	5,483	25,826		5,042	4,833	8,783
Inventory		2,467	1,954			0	0
Prepaid expenses and other current assets		3,712	4,373	5,686		5,779	6,706	5,254
Total current assets		57,704	62,240	79,488		63,899	36,546	52,007
Property and equipment, net		580	297	270		173	201	239
Operating lease right-of-use asset		4,131	4,388	917	1,205	1,491	1,764	2,030
Other assets		1,053	1,061	1,061		1,295	1,013	1,019
Total assets		63,468	67,986	81,736	47,593	66,858	39,524	55,295
Current liabilities:
Accounts payable		3,661	1,899	3,980		4,244	3,091	2,861
Accrued liabilities		11,772	10,022	9,078		8,162	8,567	9,234
Accrued indirect tax liabilities		0	0	0	0	0	0	0
Accrued compensation and benefits		4,457	3,582	5,843		4,117	3,464	3,079
Current contract liabilities		14,679	14,975	15,761		15,249	14,730	14,260
Current portion of operating lease liability		1,051	942	1,001	1,317	1,277	1,233	1,190
Current portion of term loan			0	0			370	1,481
Total current liabilities		35,620	31,420	35,663	29,972	33,049	31,455	32,105
Long-term contract liabilities		16,504	17,551	19,236		24,398	15,351	17,229
Long-term operating lease liability		3,306	3,601	0		344	679	1,004
Total liabilities		55,430	52,572	54,899	50,497	57,791	47,485	50,338
Commitments and contingencies
Stockholders’ deficit:
Preferred stock
Common stock		9	9	9		7	7	7
Additional paid-in capital		432,315	431,519	430,585		402,649	400,599	400,398
Accumulated deficit		(424,286)	(416,114)	(403,757)	(406,966)	(393,589)	(408,567)	(395,448)
Total stockholders’ deficit		8,038	15,414	26,837	(2,904)	9,067	(7,961)	4,957	21,573
Total liabilities and stockholders’ deficit		63,468	67,986	81,736	47,593	66,858	39,524	55,295
As Previously Reported | Series X Convertible Preferred Stock
Stockholders’ deficit:
Preferred stock		0	0	0		0	0	0
Restatement Adjustment
Current assets:
Cash and cash equivalents		0	0	0		0	0	0
Restricted Cash			0	0			0	0
Accounts receivable		323	0	295		0	0	0
Inventory		434	434			0	0
Prepaid expenses and other current assets		0	0	25		0	0	0
Total current assets		757	434	320		0	0	0
Property and equipment, net		0	0	0		0	0	0
Operating lease right-of-use asset		(81)	(81)	(81)	(106)	(137)	(162)	(184)
Other assets		0	0	0		0	0	0
Total assets		676	353	239	(106)	(137)	(162)	(184)
Current liabilities:
Accounts payable		0	0	46		0	0	0
Accrued liabilities		0	0	30		0	0	720
Accrued indirect tax liabilities		14,689	13,431	11,795	11,534	11,314	10,582	7,942
Accrued compensation and benefits		0	0	0		0	0	0
Current contract liabilities		0	0	29		0	0	0
Current portion of operating lease liability		(81)	(81)	(81)	(106)	(108)	(104)	(100)
Current portion of term loan			0	0			0	0
Total current liabilities		14,608	13,350	11,819	11,428	11,206	10,478	8,562
Long-term contract liabilities		0	0	150		0	0	0
Long-term operating lease liability		0	0	0		(29)	(58)	(84)
Total liabilities		14,608	13,350	11,969	11,428	11,177	10,420	8,478
Commitments and contingencies
Stockholders’ deficit:
Preferred stock
Common stock		0	0	0		0	0	0
Additional paid-in capital		0	0	0		0	0	(720)
Accumulated deficit		(13,932)	(12,997)	(11,730)	(11,534)	(11,314)	(10,582)	(7,942)
Total stockholders’ deficit		(13,932)	(12,997)	(11,730)	(11,534)	(11,314)	(10,582)	(8,662)	$ (8,469)
Total liabilities and stockholders’ deficit		676	353	239	$ (106)	(137)	(162)	(184)
Restatement Adjustment | Series X Convertible Preferred Stock
Stockholders’ deficit:
Preferred stock		$ 0	$ 0	$ 0		$ 0	$ 0	$ 0

SELECTED QUARTERLY FINANCIAL _4

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Corrected Condensed Consolidated Balance Sheets (unaudited) Additional Information (Details) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	May 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Preferred stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
Common stock, shares issued (in shares)	90,601,999	90,415,944	90,251,746	90,024,562	72,470,440	71,181,197	69,238,508	69,049,247
Common stock, shares outstanding (in shares)	90,601,999	90,415,944	90,251,746	90,024,562	72,470,440	71,181,197	69,238,508	69,049,247
Series X Convertible Preferred Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Preferred stock, par value (USD per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	4,947,759	5,000,000
Preferred stock, shares issued (in shares)	2,156,713	2,156,713	2,156,713	2,156,713	1,870,713	1,870,713	1,870,713	1,870,713
Preferred stock, shares outstanding (in shares)	2,104,472	2,104,472	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472	1,818,472

SELECTED QUARTERLY FINANCIAL _5

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Corrected Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Collaboration revenue	$ 11,250	$ 7,497	$ 26,107	$ 40,744	$ 6,216	$ 7,269	$ 33,604	$ 13,485	$ 44,854	$ 54,229	$ 59,570	$ 64,448
Product revenue	1,468			0					1,468	0	4,335	0
Total revenues	12,718	7,497	26,107	40,744	6,216	7,269	33,604	13,485	46,322	54,229	63,905	64,448
Operating expenses:
Cost of product revenue	387			0					387	0	1,523	0
Research and development	17,389	17,556	18,869	20,283	16,630	20,381	36,425	37,011	53,814	57,294	68,532	77,405
Selling, general and administrative	4,432	4,039	4,457	6,270	5,339	5,342	8,496	10,681	12,928	16,951	18,333	20,546
Total operating expenses	22,208	21,595	23,326	26,553	21,969	25,723	44,921	47,692	67,129	74,245	88,388	97,951
Loss from operations	(9,490)	(14,098)	2,781	14,191	(15,753)	(18,454)	(11,317)	(34,207)	(20,807)	(20,016)	(24,483)	(33,503)
Other income, net:
Interest income (expense), net	613	623	232	55	(6)	(20)	855	(26)	1,468	29	1,995	191
Total other income, net	613	623	232	55	(6)	(20)	855	(26)	1,468	29	1,995	191
Loss before income tax expense	(8,877)	(13,475)		14,246	(15,759)		(10,462)	(34,233)	(19,339)	(19,987)	(22,488)	(33,312)
Income tax expense	(230)	(149)		0	0		(149)	0	(379)	0	(443)	(272)
Net loss and comprehensive loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)	(10,611)	(34,233)	(19,718)	(19,987)	(22,931)	(33,584)
Net loss and comprehensive loss	(9,107)	$ (13,624)	3,013	14,246	$ (15,759)	(18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Allocation of earnings to participating securities	0		(636)	(2,931)		0
Allocation of earnings to participating securities	0		(636)	(2,931)		0
Net income (loss) attributable to common stockholders	$ (9,107)		$ 2,377	$ 11,315		$ (18,474)
Basic net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Diluted net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Shares used to compute basic net loss per common share (in shares)	90,287,441	90,115,859	78,640,086	70,217,985	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
As Previously Reported
Revenues:
Collaboration revenue	$ 11,250	$ 7,614	$ 25,990	$ 40,744	$ 6,216	$ 7,109	$ 33,604	$ 13,325	$ 44,854	$ 54,069		$ 64,288
Product revenue	1,468			0					1,468	0
Total revenues	12,718	7,614	25,990	40,744	6,216	7,109	33,604	13,325	46,322	54,069		64,288
Operating expenses:
Cost of product revenue	387			0					387	0
Research and development	17,330	17,135	18,715	20,041	15,255	20,166	35,850	35,421	53,180	55,462		75,520
Selling, general and administrative	3,556	3,310	4,298	5,780	4,074	5,204	7,608	9,278	11,164	15,058		18,486
Total operating expenses	21,273	20,445	23,013	25,821	19,329	25,370	43,458	44,699	64,731	70,520		94,006
Loss from operations	(8,555)	(12,831)	2,977	14,923	(13,113)	(18,261)	(9,854)	(31,374)	(18,409)	(16,451)		(29,718)
Other income, net:
Interest income (expense), net	613	623	232	55	(6)	(20)	855	(26)	1,468	29
Total other income, net	613	623	232	55	(6)	(20)	855	(26)	1,468	29
Loss before income tax expense	(7,942)	(12,208)		14,978	(13,119)		(8,999)	(31,400)	(16,941)	(16,422)		(29,527)
Income tax expense	(230)	(149)		0	0		(149)	0	(379)	0
Net loss and comprehensive loss	(8,172)	(12,357)	3,209	14,978	(13,119)	(18,281)	(9,148)	(31,400)	(17,320)	(16,422)		(29,799)
Net loss and comprehensive loss	(8,172)	$ (12,357)	3,209	14,978	$ (13,119)	(18,281)	$ (9,148)	$ (31,400)	$ (17,320)	$ (16,422)		$ (29,799)
Allocation of earnings to participating securities	0		(677)	(3,081)		0
Allocation of earnings to participating securities	0		(677)	(3,081)		0
Net income (loss) attributable to common stockholders	$ (8,172)		$ 2,532	$ 11,897		$ (18,281)
Basic net loss per common share (USD per share)	$ (0.09)	$ (0.14)	$ 0.03	$ 0.17	$ (0.19)	$ (0.27)	$ (0.11)	$ (0.46)	$ (0.20)	$ (0.24)		$ (0.43)
Diluted net loss per common share (USD per share)	$ (0.09)	$ (0.14)	$ 0.03	$ 0.17	$ (0.19)	$ (0.27)	$ (0.11)	$ (0.46)	$ (0.20)	$ (0.24)		$ (0.43)
Shares used to compute basic net loss per common share (in shares)	90,287,441	90,115,859	78,640,086	70,217,985	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865		69,857,698
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865		69,857,698
Restatement Adjustment
Revenues:
Collaboration revenue	$ 0	$ (117)	$ 117	$ 0	$ 0	$ 160	$ 0	$ 160	$ 0	$ 160		$ 160
Product revenue	0			0					0	0
Total revenues	0	(117)	117	0	0	160	0	160	0	160		160
Operating expenses:
Cost of product revenue	0			0					0	0
Research and development	59	421	154	242	1,375	215	575	1,590	634	1,832		1,885
Selling, general and administrative	876	729	159	490	1,265	138	888	1,403	1,764	1,893		2,060
Total operating expenses	935	1,150	313	732	2,640	353	1,463	2,993	2,398	3,725		3,945
Loss from operations	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Other income, net:
Interest income (expense), net	0	0	0	0	0	0	0	0	0	0
Total other income, net	0	0	0	0	0	0	0	0	0	0
Loss before income tax expense	(935)	(1,267)		(732)	(2,640)		(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Income tax expense	0	0		0	0		0	0	0	0
Net loss and comprehensive loss	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Net loss and comprehensive loss	(935)	$ (1,267)	(196)	(732)	$ (2,640)	(193)	$ (1,463)	$ (2,833)	$ (2,398)	$ (3,565)		$ (3,785)
Allocation of earnings to participating securities	0		41	150		0
Allocation of earnings to participating securities	0		41	150		0
Net income (loss) attributable to common stockholders	$ (935)		$ (155)	$ (582)		$ (193)

SELECTED QUARTERLY FINANCIAL _6

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Corrected Condensed Consolidated Statement of Cash Flows (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation			640			1,338	1,435	2,016	2,231	2,859	3,061	3,532
Non-cash operating lease expense			262			234	639	476	895	724	1,158	981
Depreciation and amortization			32			39	57	77	79	114	112	143
Amortization of costs to obtain a contract with a customer			475			0	40	0	53	1,772	77	0
Non-cash interest expense			0			1	0	1	0	1	5	1
Changes in assets and liabilities:
Accounts receivable			(20,288)			(3,427)	350	524	2,655	314	(10,413)	(477)
Inventory							(2,388)	0	(2,901)	0	(6,097)	0
Prepaid expenses, other current assets, and other assets			848			(1,120)	2,120	(2,567)	2,776	(1,662)	3,735	(2,440)
Accounts payable and accrued liabilities			3,192			657	2,870	(483)	6,204	(1,037)	8,886	(2,371)
Accrued indirect tax liabilities			261			353	1,897	2,993	3,155	3,725		3,945
Accrued compensation and benefits			921			(1,953)	(1,277)	(1,324)	(402)	(670)	235	203
Contract liabilities			36			(1,004)	(2,613)	(2,412)	(3,956)	7,154	(5,799)	2,646
Operating lease liabilities			(290)			(252)	(595)	(512)	(781)	(778)	(973)	(1,052)
Net cash used in operating activities			(10,898)			(23,608)	(8,076)	(35,444)	(9,710)	(7,471)	(22,432)	(28,473)
Investing activities:
Purchases of property and equipment			(94)			(84)	(201)	(100)	(327)	(109)	(505)	(118)
Net cash used in investing activities			(94)			(84)	(201)	(100)	(327)	(109)	(505)	(118)
Financing activities:
Proceeds from underwritten public offering, net of issuance costs			17,593			0	17,256	0	17,256	0	17,256	0
Proceeds from public offering of common stock, net of issuance costs			8,630			500	8,706	500	8,706	1,698	8,707	2,362
Proceeds from exercise of stock options			14			0	14	0	14	0	21	0
Issuance costs for underwritten public offering									0	(720)	0	(720)
Principal repayments of Term Loan			0			(1,111)	0	(2,222)	0	(2,593)	0	(2,593)
Net cash provided by (used in) financing activities			26,237			(611)	25,976	(1,722)	25,976	(1,615)	25,984	(951)
Net increase (decrease) in cash and cash equivalents			15,245			(24,303)	17,699	(37,266)	15,939	(9,195)	3,047	(29,542)
Cash and cash equivalents at beginning of year	50,430	47,976	32,731	25,007	37,970	62,273	32,731	62,273	32,731	62,273	32,731	62,273
Cash and cash equivalents at end of year	48,670	50,430	47,976	53,078	25,007	37,970	50,430	25,007	48,670	53,078	35,778	32,731
Supplemental disclosure of cash flows:
Interest paid			0			25	0	38	0	40	0	40
Income taxes paid							588	0	651	0	797	0
Non-cash investing activity:
Purchases of property and equipment, included in accounts payable and accrued liabilities			55			16			178	0	11	69
Operating lease right-of-use asset obtained in exchange for lease liability							3,847	0	3,847	0	3,847	0
Non-cash financing activities:
Purchase of shares pursuant to Employee Stock Purchase Plan		63			69		63	69	63	69	122	140
Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities			337			720	0	720
Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets									0	10	0	8
As Previously Reported
Operating activities:
Net loss	(8,172)	(12,357)	3,209	14,978	(13,119)	(18,281)	(9,148)	(31,400)	(17,320)	(16,422)		(29,799)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation			640			1,338	1,435	2,016	2,231	2,859
Non-cash operating lease expense			288			258	664	523	921	796		1,082
Depreciation and amortization			32			39	57	77	79	114
Amortization of costs to obtain a contract with a customer			475			0	40	0	53	1,772
Non-cash interest expense			0			1	0	1	0	1
Changes in assets and liabilities:
Accounts receivable			(19,993)			(3,427)	350	524	2,978	314
Inventory							(1,954)	0	(2,467)	0
Prepaid expenses, other current assets, and other assets			872			(1,120)	2,120	(2,567)	2,776	(1,662)
Accounts payable and accrued liabilities			3,116			657	2,870	(483)	6,204	(1,037)
Accrued indirect tax liabilities			0			0	0	0	0	0		0
Accrued compensation and benefits			921			(1,953)	(1,277)	(1,324)	(402)	(670)
Contract liabilities			(142)			(844)	(2,613)	(2,252)	(3,956)	7,314		2,806
Operating lease liabilities			(316)			(276)	(620)	(559)	(807)	(850)		(1,153)
Net cash used in operating activities			(10,898)			(23,608)	(8,076)	(35,444)	(9,710)	(7,471)
Investing activities:
Purchases of property and equipment			(94)			(84)	(201)	(100)	(327)	(109)
Net cash used in investing activities			(94)			(84)	(201)	(100)	(327)	(109)
Financing activities:
Proceeds from underwritten public offering, net of issuance costs			17,593			0	17,256	0	17,256	0
Proceeds from public offering of common stock, net of issuance costs			8,630			500	8,706	500	8,706	1,698
Proceeds from exercise of stock options			14			0	14	0	14	0
Issuance costs for underwritten public offering									0	(720)
Principal repayments of Term Loan			0			(1,111)	0	(2,222)	0	(2,593)
Net cash provided by (used in) financing activities			26,237			(611)	25,976	(1,722)	25,976	(1,615)
Net increase (decrease) in cash and cash equivalents			15,245			(24,303)	17,699	(37,266)	15,939	(9,195)
Cash and cash equivalents at beginning of year	50,430	47,976	32,731	25,007	37,970	62,273	32,731	62,273	32,731	62,273	32,731	62,273
Cash and cash equivalents at end of year	48,670	50,430	47,976	53,078	25,007	37,970	50,430	25,007	48,670	53,078		32,731
Supplemental disclosure of cash flows:
Interest paid			0			25	0	38	0	40
Income taxes paid							588	0	651	0
Non-cash investing activity:
Purchases of property and equipment, included in accounts payable and accrued liabilities			55			16			178	0
Operating lease right-of-use asset obtained in exchange for lease liability							3,847	0	3,847	0
Non-cash financing activities:
Purchase of shares pursuant to Employee Stock Purchase Plan							63	69	63	69
Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities			337			0	0	720
Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets									0	10
Restatement Adjustment
Operating activities:
Net loss	(935)	(1,267)	(196)	(732)	(2,640)	(193)	(1,463)	(2,833)	(2,398)	(3,565)		(3,785)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation			0			0	0	0	0	0
Non-cash operating lease expense			(26)			(24)	(25)	(47)	(26)	(72)		(101)
Depreciation and amortization			0			0	0	0	0	0
Amortization of costs to obtain a contract with a customer			0			0	0	0	0	0
Non-cash interest expense			0			0	0	0	0	0
Changes in assets and liabilities:
Accounts receivable			(295)			0	0	0	(323)	0
Inventory							(434)	0	(434)	0
Prepaid expenses, other current assets, and other assets			(24)			0	0	0	0	0
Accounts payable and accrued liabilities			76			0	0	0	0	0
Accrued indirect tax liabilities			261			353	1,897	2,993	3,155	3,725		3,945
Accrued compensation and benefits			0			0	0	0	0	0
Contract liabilities			178			(160)	0	(160)	0	(160)		(160)
Operating lease liabilities			26			24	25	47	26	72		101
Net cash used in operating activities			0			0	0	0	0	0
Investing activities:
Purchases of property and equipment			0			0	0	0	0	0
Net cash used in investing activities			0			0	0	0	0	0
Financing activities:
Proceeds from underwritten public offering, net of issuance costs			0			0	0	0	0	0
Proceeds from public offering of common stock, net of issuance costs			0			0	0	0	0	0
Proceeds from exercise of stock options			0			0	0	0	0	0
Issuance costs for underwritten public offering									0	0
Principal repayments of Term Loan			0			0	0	0	0	0
Net cash provided by (used in) financing activities			0			0	0	0	0	0
Net increase (decrease) in cash and cash equivalents			0			0	0	0	0	0
Cash and cash equivalents at beginning of year	0	0	0	0	0	0	0	0	0	0	$ 0	0
Cash and cash equivalents at end of year	$ 0	$ 0	0	$ 0	$ 0	0	0	0	0	0		$ 0
Supplemental disclosure of cash flows:
Interest paid			0			0	0	0	0	0
Income taxes paid							0	0	0	0
Non-cash investing activity:
Purchases of property and equipment, included in accounts payable and accrued liabilities			0			0			0	0
Operating lease right-of-use asset obtained in exchange for lease liability							0	0	0	0
Non-cash financing activities:
Purchase of shares pursuant to Employee Stock Purchase Plan							0	0	0	0
Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities			$ 0			$ 720	$ 0	$ 0
Proceeds from public offering of common stock, net of issuance costs, included in prepaid expenses, other current assets, and other assets									$ 0	$ 0

SELECTED QUARTERLY FINANCIAL _7

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) - Corrected Condensed Consolidated Statement of Convertible Preferred Stock and Stockholders’ Equity (Deficit) (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	$ 2,417	$ 15,107	$ (14,438)	$ (18,543)	$ (3,705)	$ 13,104	$ (14,438)	$ 13,104	$ (14,438)	$ 13,104	$ (14,438)	$ 13,104
Balance, beginning (in shares)	90,251,746	90,024,562	72,470,440	69,238,508	69,049,247		72,470,440		72,470,440		72,470,440
Issuance of common stock for exercise of stock options (in shares)											25,750
Issuance of common stock for exercise of stock options			$ 14								$ 21
Issuance of common stock under Employee Stock Purchase Plan		$ 63			$ 69		$ 63	69	$ 63	69	122	140
Stock-based compensation	$ 796	795	640	$ 842	852	1,165					3,061	3,532
Net loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)	(10,611)	(34,233)	(19,718)	(19,987)	(22,931)	(33,584)
Balance, ending	$ (5,894)	$ 2,417	$ 15,107	$ (2,247)	$ (18,543)	$ (3,705)	$ 2,417	$ (18,543)	$ (5,894)	$ (2,247)	$ (8,210)	$ (14,438)
Balance, ending (in shares)	90,415,944	90,251,746	90,024,562	71,181,197	69,238,508	69,049,247	90,251,746	69,238,508	90,415,944	71,181,197	90,601,999	72,470,440
Series X Convertible Preferred Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning (in shares)	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472		1,818,472		1,818,472		1,818,472
Balance, ending (in shares)	2,104,472	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472	2,104,472	1,818,472	2,104,472	1,818,472	2,104,472	1,818,472
Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs			$ 17,256								$ 17,256
Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs		$ 76	8,622	$ 1,208		$ 500					8,699	$ 2,370
Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	$ 431,519	430,585	404,055	400,599	$ 399,678	398,013	$ 404,055	$ 398,013	$ 404,055	$ 398,013	404,055	398,013
Issuance of common stock for exercise of stock options			14								21
Issuance of common stock under Employee Stock Purchase Plan		63			69						122	140
Stock-based compensation	796	795	640	842	852	1,165					3,061	3,532
Balance, ending	432,315	431,519	430,585	402,649	400,599	399,678	431,519	400,599	432,315	402,649	433,212	404,055
Additional Paid-In Capital | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs			17,255								17,255
Additional Paid-In Capital | Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs		76	8,621	1,208		500					8,698	2,370
Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	(429,111)	(415,487)	(418,500)	(419,149)	(403,390)	(384,916)	(418,500)	(384,916)	(418,500)	(384,916)	(418,500)	(384,916)
Net loss	(9,107)	(13,624)	3,013	14,246	(15,759)	(18,474)					(22,931)	(33,584)
Balance, ending	$ (438,218)	$ (429,111)	$ (415,487)	$ (404,903)	$ (419,149)	$ (403,390)	$ (429,111)	$ (419,149)	$ (438,218)	$ (404,903)	$ (441,431)	$ (418,500)
Preferred Stock | Series X Convertible Preferred Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning (in shares)	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472	1,818,472
Balance, beginning	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Balance, ending (in shares)	2,104,472	2,104,472	2,104,472	1,818,472	1,818,472	1,818,472	2,104,472	1,818,472	2,104,472	1,818,472	2,104,472	1,818,472
Balance, ending	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Preferred Stock | Underwritten Public Offering | Series X Convertible Preferred Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs (in shares)			286,000								286,000
Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Balance, beginning	$ 9	$ 9	$ 7	$ 7	$ 7	$ 7	$ 7	$ 7	$ 7	$ 7	$ 7	$ 7
Balance, beginning (in shares)	90,251,746	90,024,562	72,470,440	69,238,508	69,049,247	67,863,674	72,470,440	67,863,674	72,470,440	67,863,674	72,470,440	67,863,674
Issuance of common stock for exercise of stock options (in shares)			16,250								25,750
Issuance of common stock for restricted share units vested (in shares)	164,198	4,875	293,073	278,519	5,042	541,308					490,520	828,244
Issuance of common stock under Employee Stock Purchase Plan (in shares)		161,367			184,219						309,548	363,596
Balance, ending	$ 9	$ 9	$ 9	$ 7	$ 7	$ 7	$ 9	$ 7	$ 9	$ 7	$ 9	$ 7
Balance, ending (in shares)	90,415,944	90,251,746	90,024,562	71,181,197	69,238,508	69,049,247	90,251,746	69,238,508	90,415,944	71,181,197	90,601,999	72,470,440
Common Stock | Underwritten Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs (in shares)			11,086,000								11,086,000
Issuance of stock, net of issuance costs			$ 1								$ 1
Common Stock | Public Offering
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Issuance of stock, net of issuance costs (in shares)		60,942	6,158,799	1,664,170		644,265					6,219,741	3,414,926
Issuance of stock, net of issuance costs			$ 1								$ 1

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details)	Apr. 12, 2024	Dec. 31, 2023 $ / shares shares	Sep. 30, 2023 shares	Jun. 30, 2023 shares	Mar. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 30, 2022 $ / shares shares	Sep. 30, 2022 shares	Jun. 30, 2022 shares	Mar. 31, 2022 shares
Subsequent Event [Line Items]
Common stock, shares authorized (in shares)		200,000,000	200,000,000	200,000,000	200,000,000	200,000,000		200,000,000	200,000,000	200,000,000
Common stock, shares issued (in shares)		90,601,999	90,415,944	90,251,746	90,024,562	72,470,440		71,181,197	69,238,508	69,049,247
Common stock, shares outstanding (in shares)		90,601,999	90,415,944	90,251,746	90,024,562	72,470,440		71,181,197	69,238,508	69,049,247
Pro Forma
Subsequent Event [Line Items]
Common stock, shares authorized (in shares)		20,000,000					200,000,000
Common stock, shares issued (in shares)		4,530,099					90,601,999
Common stock, shares outstanding (in shares)		4,530,099					90,601,999
Outstanding warrants to purchase common stock (in shares)		866					17,331
Warrants weighted average exercise price (USD per share) | $ / shares		$ 230.95					$ 11.54
Subsequent event
Subsequent Event [Line Items]
Reverse stock split	0.05

SUBSEQUENT EVENTS - Schedule of

SUBSEQUENT EVENTS - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Net loss and comprehensive loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Net loss and comprehensive loss	$ (9,107)	$ (13,624)	$ 3,013	$ 14,246	$ (15,759)	$ (18,474)	$ (10,611)	$ (34,233)	$ (19,718)	$ (19,987)	$ (22,931)	$ (33,584)
Diluted net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Basic net loss per common share (USD per share)	$ (0.10)	$ (0.15)	$ 0.03	$ 0.16	$ (0.23)	$ (0.27)	$ (0.13)	$ (0.50)	$ (0.23)	$ (0.29)	$ (0.26)	$ (0.48)
Shares used to compute diluted net loss per common share (in shares)	90,287,441	90,115,859	101,189,396	88,592,568	69,133,700	68,138,116	84,409,667	68,638,651	86,390,446	69,170,865	87,427,439	69,857,698
Pro Forma
Subsequent Event [Line Items]
Net loss and comprehensive loss											$ (22,931)	$ (33,584)
Net loss and comprehensive loss											$ (22,931)	$ (33,584)
Diluted net loss per common share (USD per share)											$ (5.25)	$ (9.61)
Basic net loss per common share (USD per share)											$ (5.25)	$ (9.61)
Shares used to compute basic net loss per common share (in shares)											4,371,371	3,492,884
Shares used to compute diluted net loss per common share (in shares)											4,371,371	3,492,884