Telesis Bio (TBIO) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40497
Entity Registrant Name	Telesis Bio Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-1216839
Entity Address, Address Line One	10431 Wateridge Circle
Entity Address, Address Line Two	Suite 150
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	228-4115
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	TBIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,772,946
Entity Central Index Key	0001850079
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 6,397	$ 1,570
Restricted cash	100	175
Short-term investments	3,817	17,588
Accounts receivable, net of allowance for credit losses of $1,005 and $1,197 at June 30, 2024 and December 31, 2023, respectively	1,334	5,410
Inventory, net	1,357	3,710
Prepaid expenses and other current assets	1,178	1,008
Current assets held for sale	973	890
Total current assets	15,156	30,351
Property and equipment, net	4,398	6,298
Right-of-use assets	26,585	25,889
Other long-term assets	193	623
Goodwill	3,497	3,497
Other intangible assets, net	750	974
Noncurrent assets held for sale	2,148	2,779
Total assets	52,727	70,411
Current liabilities:
Accounts payable	1,536	3,165
Accrued employee expenses	2,561	1,828
Finance lease liability, current portion	118	112
Operating lease liability, current portion	1,676	1,390
Deferred revenue, current portion	380	338
Other accrued liabilities	839	440
Other current liabilities	6	43
Current liabilities held for sale	897	868
Total current liabilities	8,013	8,184
Finance lease liability, net of current portion	103	147
Operating lease liability, net of current portion	28,378	26,092
Notes payable, net of discount	5,278	5,269
Derivative liabilities	36	36
Deferred revenue, net of current portion	99	95
Noncurrent liabilities held for sale	874	1,050
Total liabilities	42,781	40,873
Commitments and contingencies (Note 14)
Preferred stock, $0.0001 par value; 5,000,000 shares authorized: Redeemable convertible preferred stock, 280,000 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively; liquidation preference of $30,481 and $29,300 at June 30, 2024 and December 31, 2023, respectively	30,481	29,300
Stockholders' (deficit) equity
Common stock, $0.0001 par value; 100,000,000 shares authorized at June 30, 2024 and December 31, 2023; 1,771,578 and 1,670,185 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	0	0
Additional paid-in capital	162,161	161,703
Accumulated other comprehensive loss	(9)
Accumulated deficit	(182,687)	(161,465)
Total stockholders' (deficit) equity	(20,535)	238
Total liabilities, redeemable convertible preferred stock and stockholders' (deficit) equity	$ 52,727	$ 70,411

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Allowance for credit losses	$ 1,005	$ 1,197
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	280,000	280,000
Redeemable convertible preferred stock, shares outstanding (in shares)	280,000	280,000
Redeemable convertible preferred stock, liquidation preference	$ 30,481	$ 29,300
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	1,771,578	1,670,185
Common stock, shares outstanding (in shares)	1,771,578	1,670,185
Redeemable Convertible Preferred Stock
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	280,000	280,000
Redeemable convertible preferred stock, preferred stock, shares issued (in shares)	280,000	280,000
Redeemable convertible preferred stock, shares outstanding (in shares)	280,000	280,000
Redeemable convertible preferred stock, liquidation preference	$ 30,481	$ 29,300
Preferred Stock
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	5,000,000	5,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 1,550,000	$ 7,004,000	$ 3,739,000	$ 11,682,000
Cost of revenue	2,349,000	2,039,000	3,431,000	3,934,000
Gross (loss) profit	(799,000)	4,965,000	308,000	7,748,000
Operating expenses:
Research and development	2,470,000	3,921,000	4,829,000	8,414,000
Sales and marketing	1,698,000	3,192,000	3,260,000	6,867,000
General and administrative	5,507,000	5,294,000	10,481,000	10,396,000
Impairment of property and equipment	1,017,000	0	1,017,000	0
Total operating expenses	10,692,000	12,407,000	19,587,000	25,677,000
Loss from operations	(11,491,000)	(7,442,000)	(19,279,000)	(17,929,000)
Other (expense) income, net:
Interest income	160,000	374,000	388,000	764,000
Interest expense	(214,000)	(707,000)	(431,000)	(1,346,000)
Change in fair value of derivative liabilities		19,000	0	159,000
Other expense, net	(15,000)	(3,000)	(146,000)	(39,000)
Total other expense, net	(69,000)	(317,000)	(189,000)	(462,000)
Loss before provision for income taxes	(11,560,000)	(7,759,000)	(19,468,000)	(18,391,000)
Provision for income taxes	(1,000)	(4,000)	(3,000)	(7,000)
Loss from continuing operations	(11,561,000)	(7,763,000)	(19,471,000)	(18,398,000)
Loss from discontinuing operations	(1,024,000)	(524,000)	(1,751,000)	(1,008,000)
Net loss	(12,585,000)	(8,287,000)	(21,222,000)	(19,406,000)
Less: redeemable convertible preferred stock dividends	(596,000)	(153,000)	(1,181,000)	(153,000)
Net loss attributable to common stockholders	$ (13,181,000)	$ (8,440,000)	$ (22,403,000)	$ (19,559,000)
Net loss per share from continuing operations attributable to common stockholders
Basic (in dollars per share)	$ (7.03)	$ (4.79)	$ (12.14)	$ (11.24)
Diluted (in dollars per share)	(7.03)	(4.79)	(12.14)	(11.24)
Net loss per share from discontinuing operations attributable to common stockholders
Basic (in dollars per share)	(0.59)	(0.32)	(1.03)	(0.61)
Diluted (in dollars per share)	(0.59)	(0.32)	(1.03)	(0.61)
Net loss per share attributable to common stock holders
Basic (in dollars per share)	(7.62)	(5.1)	(13.17)	(11.85)
Diluted (in dollars per share)	$ (7.62)	$ (5.1)	$ (13.17)	$ (11.85)
Weighted average common stock outstanding
Basic (in shares)	1,730,210	1,654,127	1,700,596	1,651,053
Diluted (in shares)	1,730,210	1,654,127	1,700,596	1,651,053
Net loss	$ (12,585,000)	$ (8,287,000)	$ (21,222,000)	$ (19,406,000)
Unrealized gain (loss) on available-for-sale short-term investments	1,000	(2,000)	(3,000)	3,000
Foreign currency translation loss			(6,000)
Total comprehensive loss	(12,584,000)	(8,289,000)	(21,231,000)	(19,403,000)
Product revenue
Revenue:
Total revenue	841,000	2,670,000	2,105,000	5,671,000
Service revenue
Revenue:
Total revenue		65,000		101,000
Collaboration revenue
Revenue:
Total revenue		3,462,000		4,424,000
Royalties and other revenue
Revenue:
Total revenue	$ 709,000	$ 807,000	$ 1,634,000	$ 1,486,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2022			1,647,061
Balance at beginning of period at Dec. 31, 2022	$ 46,565			$ 160,309	$ (113,741)	$ (3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			966
Issuance of common stock upon exercise of stock options	12			12
Vesting of restricted stock units (in shares)			1,890
Stock-based compensation expense	1,156			1,156
Unrealized gain (loss) on available-for-sale short-term investments	5					5
Net loss	(11,119)				(11,119)
Balance at end of period (in shares) at Mar. 31, 2023			1,649,917
Balance at end of period at Mar. 31, 2023	36,619			161,477	(124,860)	2
Balance at end of period (in shares) at Mar. 31, 2023		0
Balance at end of period at Mar. 31, 2023		$ 0
Balance at beginning of period (in shares) at Dec. 31, 2022			1,647,061
Balance at beginning of period at Dec. 31, 2022	46,565			160,309	(113,741)	(3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on available-for-sale short-term investments	3
Net loss	(19,406)
Balance at end of period (in shares) at Jun. 30, 2023			1,662,251
Balance at end of period at Jun. 30, 2023	27,916			161,063	(133,147)
Balance at end of period (in shares) at Jun. 30, 2023		280,000
Balance at end of period at Jun. 30, 2023		$ 28,153
Balance at beginning of period (in shares) at Mar. 31, 2023			1,649,917
Balance at beginning of period at Mar. 31, 2023	36,619			161,477	(124,860)	2
Balance at beginning of period (in shares) at Mar. 31, 2023		0
Balance at beginning of period at Mar. 31, 2023		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			2,877
Issuance of common stock upon exercise of stock options	46			46
Issuance of common stock upon exercise of ESPP	126			126
Issuance of common stock upon exercise of ESPP (in shares)			6,019
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares)		280,000
Issuance of redeemable convertible preferred stock, net of issuance costs		$ 18,410
Issuance of warrants, net of issuance costs	8,122			8,122
Accretion of preferred stock		9,590
Accretion of preferred stock	(9,590)			(9,590)
Vesting of restricted stock units (in shares)			3,438
Stock-based compensation expense	1,035			1,035
Redeemable convertible preferred stock dividends	(153)	$ 153		(153)
Unrealized gain (loss) on available-for-sale short-term investments	(2)					(2)
Net loss	(8,287)				(8,287)
Balance at end of period (in shares) at Jun. 30, 2023			1,662,251
Balance at end of period at Jun. 30, 2023	$ 27,916			161,063	(133,147)
Balance at end of period (in shares) at Jun. 30, 2023		280,000
Balance at end of period at Jun. 30, 2023		$ 28,153
Balance at beginning of period (in shares) at Dec. 31, 2023	1,670,185		1,670,185
Balance at beginning of period at Dec. 31, 2023	$ 238			161,703	(161,465)
Balance at beginning of period (in shares) at Dec. 31, 2023	280,000	280,000
Balance at beginning of period at Dec. 31, 2023	$ 29,300	$ 29,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			480
Issuance of common stock upon exercise of stock options	4			4
Vesting of restricted stock units (in shares)			2,916
Surrender of shares for tax withholding (in shares)			(1,176)
Surrender of shares for tax withholding	(12)			(12)
Stock-based compensation expense	766			766
Redeemable convertible preferred stock dividends	(585)	$ 585		(585)
Unrealized gain (loss) on available-for-sale short-term investments	(4)					(4)
Foreign currency translation loss	(6)					(6)
Net loss	(8,637)				(8,637)
Balance at end of period (in shares) at Mar. 31, 2024			1,672,405
Balance at end of period at Mar. 31, 2024	$ (8,236)			161,876	(170,102)	(10)
Balance at end of period (in shares) at Mar. 31, 2024		280,000
Balance at end of period at Mar. 31, 2024		$ 29,885
Balance at beginning of period (in shares) at Dec. 31, 2023	1,670,185		1,670,185
Balance at beginning of period at Dec. 31, 2023	$ 238			161,703	(161,465)
Balance at beginning of period (in shares) at Dec. 31, 2023	280,000	280,000
Balance at beginning of period at Dec. 31, 2023	$ 29,300	$ 29,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	480
Unrealized gain (loss) on available-for-sale short-term investments	$ (3)
Foreign currency translation loss	(6)
Net loss	$ (21,222)
Balance at end of period (in shares) at Jun. 30, 2024	1,771,578		1,771,578
Balance at end of period at Jun. 30, 2024	$ (20,535)			162,161	(182,687)	(9)
Balance at end of period (in shares) at Jun. 30, 2024	280,000	280,000
Balance at end of period at Jun. 30, 2024	$ 30,481	$ 30,481
Balance at beginning of period (in shares) at Mar. 31, 2024			1,672,405
Balance at beginning of period at Mar. 31, 2024	(8,236)			161,876	(170,102)	(10)
Balance at beginning of period (in shares) at Mar. 31, 2024		280,000
Balance at beginning of period at Mar. 31, 2024		$ 29,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of ESPP	12			12
Issuance of common stock upon exercise of ESPP (in shares)			3,436
Impact of reverse stock split fractional share round-up (in shares)			85,345
Vesting of restricted stock units (in shares)			10,392
Stock-based compensation expense	869			869
Redeemable convertible preferred stock dividends	(596)	$ 596		(596)
Unrealized gain (loss) on available-for-sale short-term investments	1					1
Net loss	$ (12,585)				(12,585)
Balance at end of period (in shares) at Jun. 30, 2024	1,771,578		1,771,578
Balance at end of period at Jun. 30, 2024	$ (20,535)			$ 162,161	$ (182,687)	$ (9)
Balance at end of period (in shares) at Jun. 30, 2024	280,000	280,000
Balance at end of period at Jun. 30, 2024	$ 30,481	$ 30,481

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' (Deficit) Equity (Parenthetical) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Redeemable Convertible Preferred Stock
Payments of Stock Issuance Costs	$ 1
Warrants
Payments of Stock Issuance Costs	$ 0.4

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows From Operating Activities:
Net loss	$ (21,222)	$ (19,406)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	833	557
Amortization of intangible assets	224	225
Amortization of debt discount	109	209
Provision for credit losses	205	420
Stock-based compensation	1,635	2,191
Amortization of operating lease right-of-use assets	920	779
Change in fair value of derivative liabilities	0	(159)
Loss on disposal of property and equipment	150	28
Impairment of net assets held for sale	242
Impairment of property and equipment	1,017
Change in inventory reserve	1,737	22
Accretion of discount on short-term investments	(196)	(178)
Changes in operating assets and liabilities:
Accounts receivable	3,871	(2,623)
Inventories	616	(1,710)
Deposits, prepaid expenses and other current assets	260	1,469
Accounts payable, accrued payroll and accrued liabilities	(151)	(2,282)
Deferred revenue	46	(1,778)
Operating lease liabilities	956	573
Operating cash flows from discontinuing operations	165	196
Net cash used in operating activities	(8,583)	(21,467)
Cash Flows From Investing Activities:
Proceeds from maturities of short-term investments	18,550	19,750
Purchase of property and equipment	(583)	(1,552)
Purchases of short-term investments	(4,586)	(7,157)
Investing cash flows from discontinuing operations	(6)	(72)
Net cash provided by investing activities	13,375	10,969
Cash Flows From Financing Activities:
Payment of employee restricted stock tax withholdings	(12)
Payments on finance leases	(38)	(29)
Proceeds from the exercise of common stock options	4	58
Proceeds from the issuance of common stock related to ESPP	12	126
Proceeds from the issuance of preferred stock, net of issuance costs		18,410
Proceeds from the issuance of warrants, net of issuance costs		8,122
Net cash (used in) provided by financing activities	(34)	26,687
Effect of exchange rate fluctuations on cash held	(6)
Net Increase In Cash, Cash Equivalents, and Restricted Cash	4,752	16,189
Cash, cash equivalents, and restricted cash at beginning of period	1,745	30,594
Cash, cash equivalents, and restricted cash at end of period	6,497	46,783
Supplemental Disclosure Of Cash Flow Information:
Cash paid for interest	326	1,055
Cash paid for taxes	3	7
Supplemental Non-Cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable and accrued expenses		28
Redeemable convertible preferred stock dividends	1,181	153
Right-of-use-assets obtained in exchange for operating lease liabilities	$ 1,616	$ 27,342

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (12,585)	$ (8,637)	$ (8,287)	$ (11,119)	$ (21,222)	$ (19,406)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization, Operations, and L

Organization, Operations, and Liquidity	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, OPERATIONS, AND LIQUIDITY	1. ORGANIZATION, OPERATIONS, AND LIQUIDITY Business Telesis Bio Inc. (the Company) was incorporated in the state of Delaware in March 2011, as Synthetic Genomics Solution, Inc., a wholly owned subsidiary of Synthetic Genomics, Inc. (SGI). The Company changed its name to SGI-DNA, Inc. (SGI-DNA) in February 2013, to Codex DNA, Inc. in March 2020, and then to Telesis Bio Inc. in November 2022. The Company manufactures and sells laboratory equipment, specifically synthetic biology instruments, reagents and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide. The Company has two wholly owned subsidiaries: • SGI-DNA Limited is a United Kingdom company focused on sales and marketing activities. • EtonBio Inc., a California corporation (Eton), is a San Diego-based biotech company specializing in synthetic biology products and services, including DNA sequencing and oligo synthesis, for the global academic research, pharmaceutical, and biotechnology industries. Eton also markets DNA prep services and products such as antibodies, peptides, and metabolism assay kits. Eton met the definition of a discontinuing operation as of June 30, 2024 (Notes 2 and 18). Going Concern Since its inception, the Company has devoted substantially all of its efforts to raising capital, commercializing its current products, and developing new product offerings. The Company is subject to a number of risks similar to those of other companies conducting high-risk, early-stage research and development of products. Principal among these risks are a dependence on key individuals and intellectual property, competition from other products and companies, and the technical risks associated with the successful research, development and manufacturing of its products. The Company’s success is dependent upon its ability to continue to raise additional capital in order to fund ongoing research and development, commercialize its products, generate revenue, meet its obligations, and, ultimately, become profitable. Products currently under development will require significant additional research and development efforts. These efforts require significant amounts of additional capital, adequate personnel and infrastructure. Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations. These operating losses and negative cash flows have been financed principally from the issuance of equity securities and debt. In the future, such capital may not be available in sufficient amounts, on terms acceptable to the Company, or at all. Risks to which the Company is exposed include uncertainties related to the ability to achieve revenue-generating products; current and potential competitors with greater financial, technological, production, and marketing resources; dependence on key management personnel; and raising additional capital, as needed. Under Accounting Standards Update (ASU) No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40), the Company has the responsibility to evaluate whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due within one year after the date that its financial statements are issued. The Company has incurred losses and negative cash flows from operations in each year since its inception. As of June 30, 2024, the Company had an accumulated deficit of $ 182.7 million. In June 2021, the Company received $ 112.5 million in net proceeds upon completion of its IPO, and in June 2023 received $ 26.4 million in net proceeds from the sale of preferred stock and warrants. The Company has also received $ 8.0 million in upfront payments and $ 7.5 million in milestone payments under its collaboration with Pfizer Inc. (see Note 17). Until such time, if ever, as the Company can generate substantial product revenue and/or collaboration revenue and achieve sustained profitability, the Company expects to finance its cash needs through a combination of equity offerings, collaborations, strategic alliances, licensing arrangements and other sources of funding. On August 9, 2022, the Company entered into (i) a Credit, Security and Guaranty Agreement (the 2022 Term Loan Agreement), with the Company and MidCap Financial Trust, and (ii) a Credit, Security and Guaranty Agreement (the 2022 Revolving Loan Agreement) (the 2022 Revolving Loan Agreement, and together with the 2022 Term Loan Agreement, the 2022 Loan Agreements, and the extensions of credit thereunder are referred to herein as the 2022 Term Loan and the 2022 Revolving Loan, respectively), with MidCap Funding IV Trust (together with MidCap Financial Trust, MidCap). On August 9, 2022, the Company borrowed $ 20.0 million under the terms of the 2022 Term Loan Agreement. As of September 30, 2023, the Company was not in compliance with the minimum revenue covenants of the 2022 Term Loan Agreement. As a result of this non-compliance, MidCap required the Company to repay $ 15.0 million in November 2023 under the 2022 Term Loan Agreement and the parties subsequently entered into Amendment No. 3 to Credit Security and Guaranty Agreement (Amendment No. 3) on November 24, 2023, which amended the 2022 Loan Agreements. As of June 30, 2024, the Company was in compliance with the covenants under the amended 2022 Loan Agreements. The Company intends to seek additional financing, however, the Company may not be able to raise cash on terms acceptable to the Company or at all. There can be no assurance that the Company will be successful in obtaining sufficient additional funding. Financings, if available, may be on terms that are dilutive to stockholders, and the prices at which new investors would be willing to purchase the Company’s securities may be lower than the current price of its common stock. The holders of new securities may also receive rights, preferences or privileges that are senior to those of existing holders of common stock. If additional financing is not available or is not available on acceptable terms, the Company could be forced to delay, limit, reduce or terminate product development or future commercialization efforts or grant rights to develop and market products that the Company would otherwise prefer to develop and market itself. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Based upon the Company’s current level of expenditures, management believes there currently are insufficient financial resources to fund the Company’s operations for at least twelve months from the filing date of this Quarterly Report. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded a sset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Reverse Stock Split On May 2, 2024, the Company filed a Certificate of Amendment (the Reverse Stock Split Amendment) to the Company’s Restated Certificate of Incorporation with the Secretary of State of Delaware to effect a 1-for- 18 Reverse Stock Split of the Company's common stock (the Reverse Stock Split), which became effective on May 9, 2024. The Reverse Stock Split Amendment did not reduce the number of authorized shares of common stock, which remains at 100,000,000 , and did not change the par value of the common stock, which remains at $ 0.0001 per share. As a result of the Reverse Stock Split, every eighteen shares of the common stock were combined into one issued and outstanding share of common stock and no fractional shares were issued. Instead, to any holder who would have otherwise been entitled to receive a fractional share of common stock, the Company issued such holder an additional fractional share, such that, when combined with the fractional share otherwise issuable as a result of the Reverse Stock Split, equaled a whole share of common stock. All share and per share information shown herein has been retroactively adjusted to reflect the effect of the Reverse Stock Split Amendment for all periods presented. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC) and in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP), and include the accounts of the Company and its wholly owned subsidiaries after the elimination of all significant intercompany accounts and transactions. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (ASC) and as amended by the ASUs of the Financial Accounting Standards Board (FASB). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2023, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s condensed consolidated balance sheet as of June 30, 2024, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2024 and 2023, condensed consolidated statements of stockholders’ (deficit) equity for the three and six months ended June 30, 2024 and 2023 and the condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K, filed with the SEC on March 29, 2024 (the Annual Report). The condensed consolidated balance sheet data as of December 31, 2023 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP and Article 8 of Regulation S-X. The results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2024, any other interim periods, or any future year or period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2023 included in the Annual Report. Since the date of the audited consolidated financial statements for the year ended December 31, 2023 included in the Annual Report, there have been no changes to its significant accounting policies except as noted below. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods presented. Key estimates in the consolidated financial statements include the Company’s ability to continue as a going concern, revenue recognition, impairment assessment for goodwill and intangible assets, allowance for credit losses, estimated useful lives of property and equipment, valuation of inventory, accrued expenses, valuation of deferred income tax assets, valuation of derivative liabilities, valuation of preferred stock and warrants, share-based compensation, and accrued warranty are subject to significant estimation. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment and it is reasonably possible that management's estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements could change in the near term due to one of more future confirming events. Assets Held for Sale and Discontinuing Operations In accordance with ASC 205-20 “ Presentation of Financial Statements: Discontinued Operations ”, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinuing operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, non-current assets, current liabilities, and non-current liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinuing operations, less applicable income taxes, shall be reported as components of net loss separate from the net loss of continuing operations. The Company’s Eton subsidiary met the definition of a discontinuing operation as of June 30, 2024. Accordingly, the Company has classified the results of Eton as discontinuing operations in its unaudited condensed consolidated statements of operations and comprehensive loss for all periods presented. All assets and liabilities associated with Eton were classified as assets and liabilities of discontinuing operations in the unaudited condensed consolidated balance sheets for the periods presented. All amounts included in the notes to the unaudited condensed consolidated financial statements relate to continuing operations unless otherwise noted. For additional information, see Note 18, “Assets held for Sale and Discontinuing Operations”. Reclassifications Certain prior year amounts have been reclassified to conform to the current presentation. The Company separately presented interest income and interest expense that had previously been combined as “Interest expense, net” on the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2023. The Company also separately presented the provision for credit losses line on the condensed consolidated statement of cash flows, which had previously been combined with the change in accounts receivable. These reclassifications had no impact on net loss for the three and six months ended June 30, 2023 or net cash used in operating activities for the six months ended June 30, 2023 . Restricted Cash In accordance with ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, the Company explains the change during the period in the total of cash, cash equivalents and restricted cash, and includes restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the condensed consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet dates that comprise the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 6,397 $ 1,570 Restricted cash 100 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 6,497 $ 1,745 Accounts Receivable Accounts receivable is comprised of amounts due from third-party payors recorded at the invoice amount and does not bear interest. The Company reports accounts receivable net of estimated contractual adjustments and any allowance for credit losses. The Company reviews accounts receivable on an ongoing basis to determine collectability. The Company maintains an allowance for credit losses based on its assessment of the collectability of the amounts owed to the Company by its customers. The Company considers the following in determining the level of allowance required: its customer’s payment history, the age of the receivable, the credit quality of its customers, the general financial condition of its customer base and other factors that may affect the customers’ ability to pay. The Company writes off accounts against the allowance for credit losses when they are deemed to be uncollectible. Net accounts receivable amounted to $ 1.3 million and $ 5.4 million as of June 30, 2024 and December 31, 2023, respectively. Net accounts receivable include an allowance for credit losses of $ 1.0 million and $ 1.2 million at June 30, 2024 and December 31, 2023, respectively, for those accounts deemed uncollectible by the Company. The allowance for credit losses consists of the following activity (in thousands): Allowance for credit losses at December 31, 2023 $ 1,197 Provision for credit losses 205 Write-offs ( 397 ) Allowance for credit losses at June 30, 2024 $ 1,005 Allowance for credit losses at December 31, 2022 $ 311 Provision for credit losses 420 Write-offs — Allowance for credit losses at June 30, 2023 $ 731 Recent Accounting Pronouncements Not Yet Adopted In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the ASC. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the impact this guidance will have on its consolidated financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This standard requires the Company to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and are included within each reported measure of segment operating results. The standard also requires the Company to disclose the total amount of any other items included in segment operating results, which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items. In addition, the standard also requires disclosure of the CODM’s title and position, as well as detail on how the CODM uses the reported measure of segment operating results to evaluate segment performance and allocate resources. The standard also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. This standard is effective for annual financial reporting in fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments in this update are required to be applied on a retrospective basis. The Company is currently evaluating the potential impact that this new standard will have on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). This standard requires the Company to provide further disaggregated income tax disclosures for specific categories on the effective tax rate reconciliation, as well as additional information about federal, state/local and foreign income taxes. The standard also requires the Company to annually disclose its income taxes paid (net of refunds received), disaggregated by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is to be applied prospective basis, although optional retrospective application is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statement disclosures.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	3. FAIR VALUE MEASUREMENT The following tables summarize the fair values of the Company’s assets and liabilities on the condensed consolidated balance sheets which comprise money market funds, commercial paper, U.S. government securities, corporate debt securities and the contingent put option liability (in thousands): Fair value measurements as of June 30, 2024 Level 1 Level 2 Level 3 Total Assets Money market funds $ 4,091 $ — $ — $ 4,091 U.S. government securities — 3,567 — 3,567 Corporate debt securities — 250 — 250 Total $ 4,091 $ 3,817 $ — $ 7,908 Liabilities Contingent put option liability $ — $ — $ 36 $ 36 Total $ — $ — $ 36 $ 36 Fair value measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 6 $ — $ — $ 6 Commercial paper — 6,407 — 6,407 U.S. government securities — 8,943 — 8,943 Corporate debt securities — 2,238 — 2,238 Total $ 6 $ 17,588 $ — $ 17,594 Liabilities Contingent put option liability $ — $ — $ 36 $ 36 Total $ — $ — $ 36 $ 36 During the six months ended June 30, 2024 and the year ended December 31, 2023, there were no transfers between Level 1, Level 2 and Level 3. Contingent Put Option Liability The contingent put option liability consists of the fair value of the contingent interest feature and acceleration clause (contingent put option) under the 2022 Term Loan Agreement (see Note 9). The fair value of the contingent put option liability was based on significant inputs not observable in the market, which represent a Level 3 measurement within the fair value hierarchy. The Company’s valuation of the contingent put option liability utilized a risk-neutral valuation model wherein the fair value of the underlying debt facility is estimated, both with and without the presence of the default provisions, holding all other assumptions constant. The Company assesses these assumptions and estimates each reporting period as additional information impacting the assumptions are obtained. Changes in the fair value of the contingent put option liability are recognized in other (expense) income, net as part of the change in fair value of derivative liabilities in the condensed consolidated statements of operations and comprehensive loss. The significant inputs not observable in the market consist of the adjusted market rate of debt and the probability of default. As of both June 30, 2024 and December 31, 2023, the adjusted market rate of debt was 12.48 % , and the probability of default was 45 % . A significant change in those inputs could cause a significant change in valuation. The following table provides a roll-forward of the aggregate fair value of the Company’s derivative liabilities for which fair value is determined using Level 3 inputs (in thousands): Contingent Put Option Liability Fair value at December 31, 2023 $ 36 Change in fair value — Fair value at June 30, 2024 $ 36 Contingent Put Option Liability Fair value at December 31, 2022 $ 367 Change in fair value ( 159 ) Fair value at June 30, 2023 $ 208

Investments

Investments	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	4. INVESTMENTS The following tables summarize the short-term investments held (in thousands): June 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets U.S. Government securities $ 3,569 $ — $ ( 2 ) $ 3,567 Corporate debt securities 251 — ( 1 ) 250 Total $ 3,820 $ — $ ( 3 ) $ 3,817 December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 6,407 $ 1 $ ( 1 ) $ 6,407 U.S. Government securities 8,938 6 ( 1 ) 8,943 Corporate debt securities 2,237 1 — 2,238 Total $ 17,582 $ 8 $ ( 2 ) $ 17,588 As of June 30, 2024 and December 31, 2023, all short-term investments held by the Company had remaining contractual maturities of one year or less. As of June 30, 2024 and December 31, 2023, the Company reviewed its investment portfolio for declines in fair value below the amortized cost basis to determine whether the impairment, if any, is due to credit-related or other factors. In determining whether the decline in fair value of these securities was related to a credit loss, the Company evaluated whether it intended to sell the security and whether it was more likely than not that the Company would be required to sell the security before recovering its amortized cost basis. During the three and six months ended June 30, 2024 and 2023 , the Company concluded that there were no impairments related to credit losses for its investments in securities.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORY	5. INVENTORY Inventories include material, labor and overhead and are stated at the lower of cost (first-in, first-out method) or net realizable value . The components of inventory are as follows at June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Raw materials $ 381 $ 1,711 Work in process and sub-assemblies 89 1,031 Finished goods 887 968 Total $ 1,357 $ 3,710 The inventory reserve was $ 2.5 million at June 30, 2024 and $ 0.8 million at December 31, 2023 .

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	6. PROPERTY AND EQUIPMENT Property and equipment consisted of the following on June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Machinery and equipment $ 4,934 $ 4,597 Furniture and fixtures 308 908 Computer hardware and software 2,222 2,395 Leasehold improvements 145 332 Construction in progress 90 586 Total 7,699 8,818 Less: Accumulated depreciation and amortization ( 3,301 ) ( 2,520 ) Total property and equipment, net $ 4,398 $ 6,298 Depreciation expense for the three months ended June 30, 2024 and 2023 was $ 0.4 million and $ 0.3 million respectively, and depre ciation expense for the six months ended June 30, 2024 and 2023 was $ 0.8 million and $ 0.6 million respectively, and is included in operating expenses. As of June 30, 2024, the Company recorded an impairment charge o f $ 1.0 million to write down to fair value certain property and equipment used in its corporate headquarters. The Company determined the net book value of such assets exceeded their fair value as a result of idle nature and the high likelihood the assets would be sold or abandoned significantly before the end of their previously estimated useful life. There was no impairment recorded during the three and six months ended June 30, 2023.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill In 2019, SGI sold SGI-DNA to GATTACA Mining, LLC. As part of the transaction, the Company acquired its intangible assets with resulting goodwill. The goodwill carries a fair value of approximately $ 3.5 million. In connection with the Eton acquisition in November 2021, the excess of the purchase price over the fair value of the net identifiable tangible and intangible assets acquired has been assigned to goodwill at a fair value of $ 11.4 million. The Company currently has two reporting units: Telesis Bio and Eton. Goodwill is tested quantitatively for impairment at the reporting unit level annually in the fourth quarter, or more frequently when events or changes in circumstances indicate that the asset might be impaired. During the fourth quarter of 2023, the decrease to the Company’s market capitalization, measured as the price of the Company’s common stock multiplied by common shares outstanding, and the early repayment of $ 15.0 million under the 2022 Term Loan Agreement lead the Company to conclude it was more likely than not that the fair value of one or more reporting units was below its carrying amount. A quantitative goodwill assessment was then performed for both of the Company's reporting units using a combination of techniques, including an income approach and a market-based approach. Based on the results of the quantitative goodwill assessment for the Eton reporting unit, the Company recorded an impairment charge of $ 11.4 million to reduce that reporting unit's carrying amount of goodwill to zero . Based on the results of the quantitative goodwill assessment for the Telesis Bio reporting unit, there was no impairment to that reporting unit's goodwill balance of $ 3.5 million as of December 31, 2023. Should the market value of the Company’s common stock decline, additional impairment charges may be recorded in the future. For the three and six months ended June 30, 2024 and 2023 , the Company did no t record any impairment of goodwill. Other Intangible Assets Other intangible assets acquired in the sale of SGI-DNA to GATTACA Mining, LLC include the rights to technology and the SGI-DNA trade name. The technology was valued at approximately $ 3.2 million with a seven year useful life. The Company evaluated its other intangible assets and concluded that there was no impairment during the three and six month periods ended June 30, 2024 and 2023. Other intangible assets, net consists of the following (in thousands): June 30, 2024 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 2,400 ) $ 750 Total $ 3,150 $ ( 2,400 ) $ 750 December 31, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 2,176 ) $ 974 Total $ 3,150 $ ( 2,176 ) $ 974 Amortization expense for each of the three months ended June 30, 2024 and 2023 was approximately $ 0.1 million, and amortization expense for each of the six months ended June 30, 2024 and 2023 was approximately $ 0.2 million. The following table summarizes the estimated future amortization expense of the intangible assets as of June 30, 2024 (in thousands): Years ending December 31: Amortization of Intangible Assets 2024 (remaining six months) $ 225 2025 450 2026 75 Total $ 750

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	8. LEASES As of June 30, 2024, the Compan y had three outstanding leases for office and laboratory space and scientific manufacturing equipment with remaining terms between approximately one and nine years . The Company has also entered into certain short-term leases with a term of one year or less. These leases are not included within the Company’s right-of-use assets or lease liabilities due to the Company’s election of the practical expedient recognition exemption for short-term leases. Corporate Headquarters In September 2021, the Company entered into the Wateridge Pointe lease for future office and laboratory space at 10421 and 10431 Wateridge Circle, San Diego, California (the Wateridge Pointe Lease), and concurrently signed a second amendment to the operating lease agreement for its corporate headquarters located at 9535 Waples Street, San Diego, California (the Second Amendment). Under the Second Amendment, the lease at 9535 Waples Street terminated upon the occupancy of office and laboratory space at 10431 Wateridge Circle in March 2023. The Wateridge Pointe Lease provides for a tenant improvement allowance for the renovation and build-out of the facilities up to $ 185.00 per square foot, or approximately $ 12.3 million, with an additional allowance of up to $ 10.00 per square foot, or approximately $ 0.7 million if properly requested by the Company. The lessor is solely responsible for the management and payment of the tenant improvements and these expenses will be recorded as lessor improvements under Accounting Standards Codification (ASC) 842 guidance. Combined rent for the two buildings under the Wateridge Pointe Lease is approximately $ 3.9 million per year, subject to annual increases of 3 %. The Wateridge Pointe Lease provides for a 10 year and 3 month term and the Company is entitled to one option to extend the lease term for an additional five years . Occupancy of 10431 Wateridge Circle and the corresponding termination of the le ase at 9535 Waples Street occurred in the first quarter of 2023. Occupancy and commencement of the 10421 Wateridge Circle lease occurred in the second quarter of 2023. In January 2024, the Company signed a first amendment to the Wateridge Pointe Lease for its corporate headquarters located at 10421 and 10431 Wateridge Circle (the 2024 First Amendment). Under the 2024 First Amendment, the landlord shall apply the existing security deposit of $ 0.4 million toward the base rent for the six-month period January 1 through June 30, 2024, with the $ 1.5 million balance of the base rent during that period abated. Under the 2024 First Amendment, escalating base rent payments will be $ 0.4 million to $ 0.5 million per month from July 2024 through July 2033 (Note 19). Equipment The Company entered into finance lease agreements for equipment in November 2022 (the 2022 Equipment Lease), and in August 2023 (the 2023 Equipment Lease). The terms of the leases commenced when the equipment was delivered and placed into use which occurred in November 2022 and August 2023, respectively, and accordingly the related right-of-use assets and lease liabilities were recognized on the consolidated balance sheets at their respective commencement dates. The 2022 Equipment Lease expires in October 2025 and the 2023 Equipment Lease expires in August 2026. Summary of Lease Cost The components of lease cost under ASC 842 are as follows (in thousands): June 30, 2024 2023 Lease costs Finance lease cost: Amortization of finance lease right-of-use asset $ 66 $ 14 Interest on finance lease liabilities 10 1 Operating lease costs 2,349 1,846 Variable lease cost 704 520 Short term lease cost 7 208 Lease costs included in discontinuing operations 461 533 Total lease cost $ 3,597 $ 3,122 Supplemental disclosure of cash flow information related to leases is as follows (in thousands): June 30, 2024 2023 Cash paid for amounts included in the measurement of lease Operating cash flows from operating leases $ 473 $ 494 Operating cash flows from finance leases $ 10 $ 1 Financing cash flows from finance leases $ 38 $ 29 The weighted-average remaining lease term and discount rate were as follows: June 30, 2024 December 31, 2023 Weighted-average remaining lease term Finance leases 2 years 2.5 years Operating leases 9 years 9.2 years Weighted-average discount rate Finance leases 8.8 % 8.8 % Operating leases 9.8 % 9.7 % The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of June 30, 2024 (in thousands) (Note 19): Years Ending December 31, Operating Finance 2024 (remaining six months) $ 2,251 $ 83 2025 4,570 99 2026 4,707 57 2027 4,848 — 2028 4,994 — Thereafter 24,450 — Total future minimum lease payments 45,820 239 Less: imputed interest ( 15,766 ) ( 18 ) Present value of lease liability 30,054 221 Less: current portion of lease liability ( 1,676 ) ( 118 ) Non-current portion of lease liability $ 28,378 $ 103

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	9. N OTES PAYABLE As of June 30, 2024 and December 31, 2023, the notes payable on the condensed consolidated balance sheets pertains to the 2022 Term Loan with MidCap Financial Trust and consists of the following (in thousands): June 30, 2024 December 31, 2023 Principal amount of notes payable $ 5,000 $ 5,000 Less: Current portion of notes payable — — Notes payable, net of current portion 5,000 5,000 Accrued interest — 100 Final debt payment liability 750 750 Debt discount and financing costs, net of accretion ( 472 ) ( 581 ) Notes payable, net of discount and current portion $ 5,278 $ 5,269 Accrued interest of $ 52 thousand was included in accounts payable as of June 30, 2024. 2022 Loan Agreements On August 9, 2022, the Company entered into (i) the 2022 Term Loan Agreement with MidCap Financial Trust, and (ii) the 2022 Revolving Loan Agreement, with MidCap Funding IV Trust. On June 30, 2023, the Company entered into an Amendment No. 2 to Credit, Security and Guaranty Agreement to amend the 2022 Loan Agreements (Amendment No. 2). The impact of Amendment No. 2 was to (i) increase the interest rate on the 2022 Term Loan, (ii) increase the interest rate floor on the 2022 Term Loan and the 2022 Revolving Loan, (iii) increase the exit fee, (iv), reset the prepayment penalty, (v) require the lender’s consent for activation of future incremental borrowings under the 2022 Term Loan Agreement, and (vi) reset the minimum net revenue covenant. The 2022 Term Loan Agreement, as amended, provides for a secured term loan facility in an aggregate principal amount of up to $ 30.0 million, comprised of (i) a tranche one term loan of up to $ 20.0 million (Tranche One), (ii) a tranche two term loan of up to $ 5.0 million (Tranche Two), and (iii) a tranche three term loan of up to $ 5.0 million (Tranche Three). Tranche Two and Tranche Three require MidCap's consent in order for the Company to draw down the additional borrowings. The 2022 Revolving Loan Agreement provides for a secured revolving loan facility in an aggregate principal amount of up to $ 10.0 million, subject to a borrowing base equal to percentages of eligible accounts receivable and inventory as determined in accordance with the 2022 Revolving Loan Agreement. The 2022 Term Loan and 2022 Revolving Loan mature on August 1, 2027 . Tranche One was fully funded on August 9, 2022 to pay transaction fees incurred in connection with the 2022 Loan Agreements and to repay in full the Company’s borrowings under its existing loan facility under the 2021 Loan Agreement with Silicon Valley Bank, with the remaining amount to be used be for general corporate purposes. Subject to certain terms and conditions of the 2022 Term Loan Agreement including MidCap's consent, Tranche Two was available between January 1, 2023, and September 30, 2023, following the Company’s achievement of specified milestones relating to minimum net revenues and minimum net cash proceeds from equity financing, but was not exercised. Subject to certain terms and conditions of the 2022 Term Loan Agreement including MidCap's consent, Tranche Three may become available between September 30, 2024, and March 31, 2025. The proceeds of Tranche Three, if available, may be used for working capital and general corporate purposes. As of September 30, 2023, the Company was not in compliance with certain minimum revenue covenants of the 2022 Term Loan Agreement. As a result of this non-compliance, MidCap had the ability to immediately call the balance of the loan, along with a 5.5 % exit fee and 3.0 % prepayment penalty, amounting to a total repayment obligation of approximately $ 21.7 million for the 2022 Term Loan, plus a $ 0.3 million prepayment penalty for the 2022 Revolving Loan. On November 24, 2023, the Company entered into Amendment No. 3 to the 2022 Loan Agreements (Amendment No. 3). The impact of Amendment No. 3 was to (i) repay $ 15.0 million in November 2023 under the 2022 Term Loan Agreement and (ii) grant MidCap a warrant to purchase 15,278 shares of common stock at an exercise price per share equal to the 10-day volume weighted average price of the Company's common stock immediately prior to the date of Amendment No. 3. In exchange for the Company doing the foregoing, MidCap (i) waived all existing defaults under the 2022 Loan Agreements, (ii) reset revenue covenants under the 2022 Term Loan Agreement, (iii) waived the prepayment penalty related to the $ 15.0 million repayment and reduced the prepayment penalty for the remaining outstanding balance under the 2022 Term Loan Agreement to 1 %, (iv) froze any future extensions of credit under the 2022 Revolving Loan Agreement and (v) reduced the exit fee payable upon complete repayment of amounts left outstanding at the end of term by $ 350,000 , with the remaining $ 750,000 of exit fees to be payable at maturity. The 2022 Term Loan, as amended, bears interest at a floating rate based on an adjusted term secured overnight financing rate (SOFR) plus 0.1 % (subject to a floor of 3.50 %) for a one-month interest period, plus a margin of 6.75 %. Interest on the 2022 Term Loan is payable monthly in arrears on the first day of each month and at maturity. For the six months ended June 30, 2024, the effective interest rate on outstanding borrowings was approximately 17.01 % . Following an initial interest-only period, beginning on August 1, 2025, the outstanding principal amount of the 2022 Term Loan is repayable in twenty-four equal monthly principal payments, with all remaining outstanding principal, together with all accrued and unpaid interest, due at maturity. The 2022 Term Loan, as amended, may be voluntarily prepaid in full, but not in part, at any time and are also subject to mandatory prepayments with the net proceeds of certain dispositions and casualty events, subject to specified thresholds and reinvestment rights. Prepayments are subject to prepayment premiums of 1.00 % of the amount prepaid. Once repaid, the 2022 Term Loan may not be reborrowed. The Company is also obligated to pay an exit fee equal to $ 750,000 and other customary fees for a credit facility of this size and type. The exit fee is being accrued through interest expense using the effective interest method. The Company may borrow, repay and reborrow the 2022 Revolving Loan until August 1, 2027, at which time the revolving commitments will terminate and all outstanding revolving loans, together with all accrued and unpaid interest, must be repaid. The proceeds of the 2022 Revolving Loan may be used for working capital needs and general corporate purposes. As of June 30, 2024 , no amount of the 2022 Revolving Loan was outstanding under the 2022 Revolving Loan Agreement. On November 24, 2023, MidCap froze any future extensions of credit under the 2022 Revolving Loan Agreement due to the event of default discussed above. The 2022 Revolving Loan would bear interest at a floating rate based on an adjusted term SOFR (subject to a floor of 1.50 %) for a one-month interest period, plus a margin of 3.00 %. Interest on the 2022 Revolving Loan would be payable monthly in arrears on the first day of each month and at maturity. Prior to November 24, 2023, the Company was obligated to pay an unused line fee equal to 0.50 % per annum on the unused portion of the available revolving commitments, a fee for failure to maintain a minimum balance under the 2022 Revolving Loan Agreement, and other customary fees for a credit facility of this size and type. The obligations of the Company and any future guarantors under the 2022 Loan Agreements are secured by liens on substantially all of the Company's assets. The 2022 Loan Agreements, as amended, require the Company to comply with (i) a minimum net revenue covenant and (ii) a minimum cash covenant, which requires certain unrestricted cash to be greater than or equal to $ 7.0 million at all times. The 2022 Loan Agreements, as amended, contain customary affirmative and negative covenants, including covenants limiting the ability of the Company and its subsidiaries, among other things, to incur debt, grant liens, make distributions, enter certain restrictive agreements, pay or modify subordinated debt, dispose of assets, make investments and acquisitions, enter into certain transactions with affiliates, and undergo certain fundamental changes, in each case, subject to limitations and exceptions set forth in the 2022 Loan Agreements. The 2022 Loan Agreements, as amended, contain customary events of default that include, among other things, certain payment defaults, cross defaults to certain other contracts and indebtedness, covenant defaults, inaccuracy of representations and warranties, bankruptcy and insolvency defaults, judgment defaults, change of control defaults, defaults related to the failure to remain registered with the SEC and listed for trading on the Nasdaq Stock Market, and a material adverse change default. Upon the occurrence and during the continuance of an event of default under the 2022 Loan Agreements, as amended, the respective administrative agent, if requested by the respective lenders, may, among other things, (i) suspend or terminate commitments, as well as obligations of the relevant administrative agent and lenders, (ii) declare all outstanding obligations under the applicable agreement (including principal and accrued and unpaid interest) immediately due and payable, and (iii) exercise the other rights and remedies provided for under the applicable agreement. The 2022 Loan Agreements provide that, under certain circumstances, a default interest rate will apply on all obligations under such agreement during the existence of an event of default, at a per annum rate equal to 2.0% above the applicable interest rate. The Company bifurcated a derivative liability related to the acceleration clause triggered upon an event of default (contingent put option) under the 2022 Term Loan Agreement. The contingent put option liability is classified as a derivative liability on the consolidated balance sheet. As of June 30, 2024, the estimated fair value of the contingent put option liability was $ 36 thousand, which was determined by using a risk-neutral valuation model wherein the fair value of the underlying debt facility is estimated, both with and without the presence of the default provisions, holding all other assumptions constant (Note 3). As of June 30, 2024, the estimated future principal payments due were as follows (Note 19): June 30, 2024 Estimated future principal payments due 2024 $ — 2025 1,042 2026 2,500 2027 1,458 Total $ 5,000

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' (DEFICIT) EQUITY	10. STOCKHOLDERS’ (DEFICIT) EQUITY The Company’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “DNAY” on June 18, 2021. The Company has since changed its ticker symbol to “TBIO” in connection with its name change to Telesis Bio Inc. The Company is authorized to issue 100,000,000 shares of common stock and 5,000,000 shares of preferred stock. The par value of common and preferred stock is $ 0.0001 per share.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
REDEEMABLE CONVERTIBLE PREFERRED STOCK	11. REDEEMABLE CONVERTIBLE PREFERRED STOCK Redeemable Convertible Preferred Stock Financing On May 31, 2023, the Company executed a Redeemable Convertible Preferred Stock and Warrant Purchase Agreement (the Agreement) for the purposes of raising capital in the aggregate amount of up to $ 28.0 million by the means of issuance of Redeemable Convertible Preferred Stock and warrants. On June 1, 2023, the Company filed a Certificate of Designation of Redeemable Convertible Preferred Stock of Telesis Bio (the Certificate of Designation), to set forth the rights, privileges and preferences of the Company's Redeemable Convertible Preferred Stock (the Redeemable Convertible Preferred Stock). On June 5, 2023, the Company issued 280,000 shares of Redeemable Convertible Preferred Stock, which are convertible at any time into shares of the Company's common stock, and warrants to purchase an aggregate of 987,325 shares of the Company's common stock, for a total purchase price of $ 28.0 million, plus an additional 19,749 warrants to purchase the Company's common stock issued as consideration for advisory services related to the transaction. Dividends From and after the issue date of the Redeemable Convertible Preferred Stock , cumulative dividends accrue on the Accrued Value (as defined below) of each share of Redeemable Convertible Preferred Stock at the annual rate of 8 %. Dividends on each share of Redeemable Convertible Preferred Stock are cumulative and accrue daily from and after the issue date, but compound on a quarterly basis on the last day of each calendar quarter (the “Quarterly Dividend Date”), whether or not earned or declared, and whether or not there are earnings or profits, surplus or other funds or assets of the Company legally available for the payment of dividends. All such dividends compound and shall be added to the Accrued Value on each Quarterly Dividend Date. No dividends are to be paid in cash unless such dividends are paid pursuant to liquidation of the Company or a conversion or redemption of the Redeemable Convertible Preferred Stock. In the event that the board of directors declares a dividend payable upon the then outstanding shares of common stock (other than a stock dividend on the common stock payable solely in the form of additional shares of common stock), the holders of the Redeemable Convertible Preferred Stock shall be entitled, in addition to any cumulative dividends to which the Redeemable Convertible Preferred Stock may be entitled, to receive (concurrent with the payment of the dividend to the holders of common stock) the amount of dividends per share of Redeemable Convertible Preferred Stock that would be payable on the number of whole shares of the common stock into which each share of such Redeemable Convertible Preferred Stock held by each holder could be converted, such number to be determined as of the record date for the determination of holders of common stock entitled to receive such dividend. “Accrued Value” means, with respect to each share of Redeemable Convertible Preferred Stock, the sum, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Redeemable Convertible Preferred Stock, of (i) $100.00 plus (ii) on each Quarterly Dividend Date, an additional amount equal to the dollar value of any dividends on a share of Redeemable Convertible Preferred Stock which have accrued on any dividend payment date and have not been previously added to such Accrued Value. As of June 30, 2024 , no dividends have been declared or distributed to any stockholders, and the Company has accrued dividends through June 30, 2024 totaling $ 2.5 million. Liquidation Preferences In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company (each, a Liquidation Event) or Deemed Liquidation Event (as defined below), the holders of shares of Redeemable Convertible Preferred Stock shall be entitled to be paid, with respect to each share of Redeemable Convertible Preferred Stock then outstanding held by the holder, out of the assets of the Company available for distribution to its stockholders, on a preferred basis prior and in preference to any distribution to the holders of any common stock or any other junior stock of the Company, an amount in cash per share of Redeemable Convertible Preferred Stock equal to (i) in the event of a Deemed Liquidation Event occurring prior to the 24-month anniversary of the issue date, the greater of (x) 200 % multiplied by the sum of the Accrued Value plus an amount equal to all accrued or declared and unpaid dividends on the Redeemable Convertible Preferred Stock that have not previously been added to the Accrued Value or (y) such amount per share as would have been payable in respect of the shares of common stock into which such share of Redeemable Convertible Preferred Stock is then convertible, assuming all outstanding shares of Redeemable Convertible Preferred Stock were converted into common stock immediately prior to such Deemed Liquidation Event or (ii) in the event of (A) a Liquidation Event that is not a Deemed Liquidation Event or (B) a Deemed Liquidation Event occurring on or after the 24-month anniversary of the issue date, the greater of (x) the sum of the Accrued Value plus an amount equal to all accrued or declared and unpaid dividends on the Redeemable Convertible Preferred Stock that have not previously been added to the Accrued Value or (y) such amount per share as would have been payable in respect of the shares of common stock into which such share of Redeemable Convertible Preferred Stock is then convertible, assuming all outstanding shares of Redeemable Convertible Preferred Stock were converted into common stock immediately prior to such Liquidation Event or Deemed Liquidation Event, as applicable (the Liquidation Amount). Deemed Liquidation Event means a reorganization, merger or consolidation in which: (A) the Company is a constituent party or (B) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such reorganization, merger or consolidation, except any such reorganization, merger or consolidation involving the Company or a subsidiary in which the shares of capital stock of the Company outstanding immediately prior to such reorganization, merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such reorganization, merger or consolidation, a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if the surviving or resulting corporation is a wholly-owned subsidiary of another corporation immediately following such reorganization, merger or consolidation, the parent corporation of such surviving or resulting corporation. Rights and Preferences At any time when shares of Redeemable Convertible Preferred Stock are outstanding, the Company shall not, either directly or indirectly (including through any subsidiary of the Company) by amendment, merger, consolidation, reclassification, reorganization or otherwise, do any of the following without (in addition to any other vote required by law or the Company’s Certificate of Incorporation) the written consent or affirmative vote of the holders of a majority of the then outstanding shares of Redeemable Convertible Preferred Stock (or, solely with respect to section (a) below, the holders of 75 % of the then outstanding shares of Redeemable Convertible Preferred Stock ), given in writing or by vote at a meeting, consenting or voting separately as a class, and any such act taken or transaction entered into without such consent or vote shall be null and void, and of no force or effect: (a) amend, modify or fail to give effect to the rights of the holders of Redeemable Convertible Preferred Stock; (b) increase or decrease the number of authorized shares of Redeemable Convertible Preferred Stock; (c) create or issue any equity securities or securities convertible into equity securities with equal or superior rights, preferences or privileges to those of the Redeemable Convertible Preferred Stock in respect of (i) payment of dividends, or (ii) distribution of assets of the Company upon a Liquidation Event or Deemed Liquidation Event; (d) other than the issuance of shares of common stock on exercise or conversion of securities outstanding on the issue date, issue any shares of common stock or securities convertible into or exercisable (directly or indirectly) for common stock if at such time (or after giving effect to such issuance) the Company does not have sufficient shares of common stock available out of its authorized but unissued stock, for the purpose of effecting the conversion of the Redeemable Convertible Preferred Stock into common stock (assuming that accrued and unpaid dividends at such time include all dividends that would have accrued on the Redeemable Convertible Preferred Stock for a period of five years from the date thereof) and the exercise and conversion of all other securities convertible or exercisable (directly or indirectly) for common stock; (e) declare or pay any dividends or distributions on or make redemptions or repurchases of equity securities, except for repurchases from employees, directors, advisors or consultants upon termination pursuant to contractual call rights; or (f) create any subsidiary that is not majority-owned, either directly or indirectly, by the Company; provided, however, that this restriction shall not apply, in the case of (i) any subsidiary created outside of the United States, solely to the extent that, due to local law or regulatory requirements, the Company is not permitted to legally own such subsidiary or (ii) the creation of any joint venture created in the ordinary course of business for a bona fide business purpose. Registration Rights In connection with the issuance of Redeemable Convertible Preferred Stock, the Company also entered into a Registration Rights Agreement (the Registration Rights Agreement) and pursuant to its terms, filed a registration statement on Form S-3 with the SEC on July 27, 2023 (File No. 333-273491) covering the resale of shares of common stock issuable upon conversion of the Redeemable Convertible Preferred Stock (the Registration Statement). Among other requirements, the Company is required to use its commercially reasonable efforts to keep the Registration Statement continuously effective until the date that the Registrable Securities (as defined in the Registration Rights Agreement) are no longer Registrable Securities. Upon an event of default and on each monthly anniversary of the default, until cured, the Company is required to pay to each holder of Redeemable Convertible Preferred Stock an amount of liquidated damages in cash, equal to the product of 1.5 % multiplied by the aggregate price paid by such holder for the purchase of Redeemable Convertible Preferred Stock. The maximum aggregate liquidated damages payable will be equal to 6 % of the aggregate price paid for the purchase of Redeemable Convertible Preferred Stock. Based on the aggregate purchase price for the Company's outstanding shares of Redeemable Convertible Preferred Stock, the maximum aggregate liquidated damages, should an event of default occur in the future, is $ 1.7 million (Note 19). Voting The holder of each share of Redeemable Convertible Preferred Stock is entitled to one vote for each share of common stock into which such Redeemable Convertible Preferred Stock is convertible on the record date for determining stockholders entitled to vote on such matter. With respect to such vote, such holder has full voting rights and powers equal to the voting rights of the holders of common stock. Conversion Each share of Redeemable Convertible Preferred Stock is convertible, at the option of the holder, at any time and from time to time, into such number of shares of common stock as is determined by dividing the Accrued Value by the Conversion Price (defined below) in effect at the time of conversion. The Conversion Price is initially equal to $ 42.5394 per share. If at any time following the third anniversary of the issue date, the closing sale price of the Company’s common stock exceeds 250 % of the Conversion Price for 30 consecutive trading days, then the Company has the right to require conversion of the Redeemable Convertible Preferred Stock, in whole or in part, at the then effective conversion rate. Redemption On or after the seventh anniversary of the issue date, (i) each holder of Redeemable Convertible Preferred Stock may require the Company to redeem all of such holder’s shares of Redeemable Convertible Preferred Stock for cash at a redemption price per share equal to the Accrued Value, and (ii) the Company may redeem, in whole or in part on a pro rata basis from all holders, shares of Redeemable Convertible Preferred Stock for cash at a redemption price per share equal to the Accrued Value. The Company has classified the Redeemable Convertible Preferred Stock as temporary equity as the shares have certain redemption features that are not solely in the control of the Company. The Redeemable Convertible Preferred Stock is not currently redeemable because the deemed liquidation provision is considered a substantive condition that is contingent on the event and it is not currently probable that it will become redeemable. The Redeemable Convertible Preferred Stock is not currently redeemable through the optional redemption provision because it is considered a substantive condition that is contingent on the passage of time. The Company classifies Redeemable Convertible Preferred Stock in accordance with ASC 480, Distinguishing Liabilities from Equity, which requires that contingently redeemable securities be classified outside of permanent stockholders’ (deficit) equity. Accordingly, the Company has classified all shares of Redeemable Convertible Preferred Stock as mezzanine equity in the accompanying financial statements as of June 30, 2024 and December 31, 2023. Redeemable Convertible Preferred Stock consisted of the following as of June 30, 2024 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 30,481 $ 30,481 Total 280,000 280,000 $ 30,481 $ 30,481 Redeemable Convertible Preferred Stock consisted of the following as of December 31, 2023 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 29,300 $ 29,300 Total 280,000 280,000 $ 29,300 $ 29,300

Warrants

Warrants	6 Months Ended
	Jun. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	12. W ARRANTS Common Stock Warrants On June 5, 2023, the Company issued warrants to purchase a total of 329,109 shares of common stock to investors in connecti on with the Agreement described in Note 11 (the Short-Term Warrants). Each Short-Term Warrant has an exercise price of $ 46.7928 per share and has a two-year term from the date of issuance. Each Short-Term Warrant had a grant date fair value of $ 3.60 . The Short-Term Warrants meet the criteria for permanent equity classification. On June 5, 2023, the Company issued warrants to purchase a total of 658,216 shares of common stock to investors in connection with the Agreement described in Note 11 (the Long-Term Warrants). Each Long-Term Warrant has an exercise price of $ 46.7928 per share and has a seven-year term from the date of issuance. Each Long-Term Warrant had a grant date fair value of $ 10.98 . The Long-Term Warrants meet the criteria for permanent equity classification. On June 5, 2023, the Company issued warrants to purchase a total of 19,749 shares of common stock as consideration for advisory services in connection with the Agreement described in Note 11 (the Additional Warrants). Each Additional Warrant has an exercise price of $ 53.1738 per share and has a five-year term from the date of issuance. Each Additional Warrant had a grant date fair value of $ 8.10 . The Additional Warrants meet the criteria for permanent equity classification. On November 24, 2023, in connection with the 2022 Term Loan Agreement, as amended, described in Note 9, the Company issued a warrant to purchase a total of 15,278 shares of common stock (MidCap Warrant). The MidCap Warrant has an exercise price of $ 7.20 per share, and a ten-year term from the date of issuance. The MidCap Warrant had a grant date fair value of $ 4.86 per share. The MidCap Warrant meets the criteria for permanent equity classification. As of June 30, 2024 and December 31, 2023, warrants to purchase an aggregate of 1,022,352 shares of common stock were issued and outstanding.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	13. S TOCK-BASED COMPENSATION For the three months ended June 30, 2024 and 2023 and the six months ended June 30, 2024 and 2023, the Company recorded stock-based compensation expense of approximately $ 0.9 million, $ 1.0 mill ion, $ 1.6 mill ion and $ 2.2 million, respectively. No income tax benefit was recognized in the accompanying condensed consolidated statements of ope rations and comprehensive loss for the Company’s equity incentive plan. The Company’s board of directors approved the adoption of the SGI-DNA, Inc. 2019 Stock Plan (the 2019 Plan) in March 2019. The 2019 Plan permitted the Company to grant options and restricted stock uni ts for up to 308,011 shares of the Company’s common stock. On March 3, 2021, the Company’s board of directors and stockholders approved the termination of the 2019 Plan and the adoption of the 2021 Equity Incentive Plan (the 2021 Plan). 333,334 shares of comm on stock were reserved for issuance under the 2021 Plan. In June 2021, the Company established the 2021 Stock Incentive Plan (the 2021 SIP). The 2021 SIP became effective on the effective date of the IPO, at which time the Company ceased granting awards under the 2021 Plan. The 2021 SIP allows the Company’s board of directors or its compensation committee to grant equity-based awards to the Company’s employees, directors and consultants. A total of 194,445 shares of common stock were initially reserved for issuance under the 2021 SIP, plus the number of shares (not to exceed 136,665 shares) consisting of (i) the shares of common stock that were available for the issuance of awards under the 2021 Plan at the time the 2021 SIP became effective, which ceased to be available for future issuance under the 2021 Plan at such time and (ii) any shares subject to outstanding options or other share awards that were granted under the 2019 Plan and the 2021 Plan that terminate or expire prior to exercise or settlement; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price. In addition, the number of shares reserved and available for issuance under the 2021 SIP automatically increases, beginning on January 1, 2022 and on each January 1 thereafter by the lesser of (i) 875,000 shares, (ii) 5 % of the outstanding number of shares of common stock on the immediately preceding December 31, or (iii) such lesser number of shares as determined by the Company’s board of directors or a designated committee thereof. As of June 30, 2024, the number of shares of common stock reserved for issuance under the 2021 SIP was 193,804 . Stock option activity under the 2019 Plan, the 2021 Plan and the 2021 SIP for the six months ended June 30, 2024 is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Balances at December 31, 2023 314,757 $ 34.22 8.5 $ 1 Options granted 34,139 7.25 Options exercised ( 480 ) 7.02 Options cancelled ( 31,738 ) 23.60 Balances at June 30, 2024 316,678 $ 32.42 8.2 $ — Vested and expected to vest at June 30, 2024 301,642 $ 32.30 8.2 $ — Exercisable at June 30, 2024 140,004 $ 42.10 7.6 $ — There were 34,139 options granted during the six months ended June 30, 2024. The weighted average grant date calculated fair value of options granted during the six months ended June 30, 2024 was $ 4.08 per share. The aggregate intrinsic value of options exercised during the six months ended June 30, 2024 and 2023 was $ 2 thousand and $ 94 thousand , respectively. The calculated value of option grants during the six months ended June 30, 2024 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: Six Months Ended June 30, 2024 Risk free interest rate 4.4 % Expected dividend yield — % Expected term 6.0 years Expected volatility 55.2 % The Company has granted restricted stock units with vesting based conditions. Unvested shares of restricted common stock may not be sold or transferred by the holder. They are legally issued and outstanding. These restrictions lapse accordingly to the time-based vesting of each award. A summary of the restricted stock unit activity during the six months ended June 30, 2024 is as follows: Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested at December 31, 2023 32,741 $ 48.26 Granted 15,984 6.56 Vested ( 13,308 ) 44.66 Cancelled ( 863 ) 103.35 Unvested at June 30, 2024 34,554 $ 28.98 Effective in connection with the IPO, the Company established the 2021 Employee Stock Purchase Plan (the ESPP). The maximum number of shares of common stock that may be issued under the ESPP was initially 19,445 . Additionally, the number of shares reserved and available for issuance under the ESPP automatically increases each January 1, beginning on January 1, 2022 and each January 1 thereafter, by the lesser of (i) 58,334 shares of common stock, (ii) 1 % of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or (iii) such smaller number of shares of common stock as the Company’s board of directors may designate. As of June 30, 2024, the number of shares of common stock that may be issued under the ESPP is 45,060 . For the six months ended June 30, 2024, 3,436 shares of common stock were issued under the ESPP. The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options $ 686 $ 751 $ 1,253 $ 1,751 Restricted stock units 179 266 372 392 Employee stock purchase plan 4 18 10 48 Total $ 869 $ 1,035 $ 1,635 $ 2,191 The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development $ 89 $ 160 $ 185 $ 459 Sales and marketing 12 67 21 233 General and administrative 768 808 1,429 1,499 Total $ 869 $ 1,035 $ 1,635 $ 2,191 As of June 30, 2024, total unrecognized stock-based compensation expense related to unvested stock-based awards was $ 3.3 million, which is expected to be recognized over a weighted average period of 1.8 years.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. COMMITMENTS AND CONTINGENCIES Litigation The Company may become involved in various claims, suits, and legal proceedings from time to time in the ordinary course of its business. The Company accrues a liability when it believes that it is both probable and the amount of loss can be reasonably estimated. While the outcome of such claims, lawsuits or other proceedings cannot be predicted with certainty, management expects that any liability, to the extent not provided for by insurance or otherwise, will not have a material adverse effect on the Company’s condensed consolidated financial position or results of operations. Leases The Company’s non-cancelable lease commitments are described in Note 8. Registration Rights In connection with the issuance of Redeemable Convertible Preferred Stock, the Company also entered into a Registration Rights Agreement (the Registration Rights Agreement) and pursuant to its terms, filed a registration statement on Form S-3 with the SEC on July 27, 2023 (File No. 333-273491) covering the resale of shares of common stock issuable upon conversion of the Redeemable Convertible Preferred Stock (the Registration Statement). Among other requirements, the Company is required to use its commercially reasonable efforts to keep the Registration Statement continuously effective until the date that the Registrable Securities (as defined in the Registration Rights Agreement) are no longer Registrable Securities. Upon an event of default and on each monthly anniversary of the default, until cured, the Company is required to pay to each holder of Redeemable Convertible Preferred Stock an amount of liquidated damages in cash, equal to the product of 1.5 % multiplied by the aggregate price paid by such holder for the purchase of Redeemable Convertible Preferred Stock. The maximum aggregate liquidated damages payable will be equal to 6 % of the aggregate price paid for the purchase of Redeemable Convertible Preferred Stock. Based on the aggregate purchase price for the Company's outstanding shares of Redeemable Convertible Preferred Stock, the maximum aggregate liquidated damages, should an event of default occur in the future, is $ 1.7 million (Note 19).

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
NET LOSS PER SHARE	15. N ET LOSS PER SHARE Net loss per share Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss from continuing operations $ ( 11,561 ) $ ( 7,763 ) $ ( 19,471 ) $ ( 18,398 ) Net loss from discontinuing operations ( 1,024 ) ( 524 ) ( 1,751 ) ( 1,008 ) Less: Redeemable Convertible Preferred Stock Dividends ( 596 ) ( 153 ) ( 1,181 ) ( 153 ) Net loss attributable to common stockholders $ ( 13,181 ) $ ( 8,440 ) $ ( 22,403 ) $ ( 19,559 ) Denominator: Weighted average common stock outstanding - basic and diluted 1,730,210 1,654,127 1,700,596 1,651,053 Net loss per share from continuing operations attributable to common stockholders—basic and diluted $ ( 7.03 ) $ ( 4.79 ) $ ( 12.14 ) $ ( 11.24 ) Net loss per share from discontinuing operations attributable to common stockholders—basic and diluted $ ( 0.59 ) $ ( 0.32 ) $ ( 1.03 ) $ ( 0.61 ) Net loss per share attributable to common stockholders - basic and diluted $ ( 7.62 ) $ ( 5.10 ) $ ( 13.17 ) $ ( 11.85 ) The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential shares of common stock from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: June 30, 2024 2023 Stock options to purchase common stock 316,678 319,725 Restricted stock units that vest into common stock 34,554 22,565 Shares issuable under employee stock purchase plan — 5,942 Warrants to purchase common stock 1,022,352 1,007,067 Redeemable Convertible Preferred Stock (as converted to common stock) 716,530 661,820 Total 2,090,114 2,017,119

Retirement Plan

Retirement Plan	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
RETIREMENT PLAN	16. RETIREMENT PLAN The Company has a retirement saving plan (the 401(k) Plan) that allows participating employees to defer a portion of their annual compensation on a pretax basis. The Company made no contributions to the 401(k) Plan for the six months ended June 30, 2024 and 2023 .

Collaboration

Collaboration	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COLLABORATION	17. C OLLABORATION In December 2021, the Company entered into a Research Collaboration and License Agreement (Pfizer Agreement) with Pfizer Inc. (Pfizer), pursuant to which the Company agreed to collaborate with Pfizer to further develop the Company's novel enzymatic DNA synthesis technology for Pfizer’s use in its research and development of mRNA-based vaccines and biotherapies. The financial terms of the deal include an upfront payment from Pfizer to the Company, along with success-based technical milestone payments that could be earned in the near term. The Company is also eligible to receive additional milestone payments based on the achievement of specified development, regulatory and commercialization goals associated with any products developed from the application of the Company’s technology developed and licensed under the Pfizer Agreement. The Company granted Pfizer a non-exclusive, worldwide license to use the Company’s enzymatic DNA synthesis technology for purposes of researching, developing, manufacturing and commercializing pharmaceutical and biopharmaceutical products and a limited-time option to convert such license to exclusive for specific applications. Under the Pfizer Agreement, Pfizer made an upfront payment of $ 8.0 million at the time of execution and subsequent milestone payments of $ 7.5 million. If the Company meets certain additional technical milestones defined in the Pfizer Agreement, the Company will be eligible to receive an additional $ 2.5 million in near-term milestone payments. In addition to the upfront payment and technical milestone payments, Pfizer has agreed to make milestone payments to the Company upon the products meeting certain clinical milestones, with each product (other than exclusive products) being eligible for milestone payments up to $ 20.0 million if it were to meet the applicable clinical milestones and the first exclusive product in each exclusive field being eligible for milestone payments up to $ 55.0 million if it were to meet the applicable clinical milestones. Pfizer has also agreed to pay the Company up to $ 60.0 million in sales milestones for products (other than exclusive products) if aggregate net sales of such products meet certain thresholds and up to $ 180.0 million in sales milestones for exclusive products if aggregate net sales of the exclusive products meet certain thresholds. Provided the Pfizer Agreement remains in place, Pfizer will also pay escalating royalties from a low to mid-fraction of one percent of net sales of all products. Pfizer’s obligations to pay royalties with respect to a product within a country will expire after specific criteria including such product no longer being covered by patent rights licensed to Pfizer by the Company in such country. Royalty payments are subject to reduction after the introduction of a biosimilar product in such country by a third party. The Company assessed the Pfizer Agreement in accordance with ASC 606, Revenue from Contracts with Customers, and concluded that Pfizer is a customer based on the agreement's structure. The Company identified a single combined performance obligation under the arrangement for the performance under the research plan, technology transfer between the parties, participation in the Joint Research Committee, research licenses exchanged by the parties and the non-exclusive commercial license. In addition, the Company identified a material right for the option granted to Pfizer to extend the research term by an additional year. The $ 8.0 million upfront payment represents the transaction price at inception. The Company determined that the $ 8.0 million upfront payment represents the entirety of the consideration to be included in the transaction price as of the outset of the arrangement. The potential milestone payments that the Company may have been eligible to receive were initially excluded from the transaction price at the outset of the arrangement because (i) all technical and development milestone payments did not meet the criteria for inclusion using the most-likely amount method and (ii) the Company recognizes as revenue sales-based milestones and royalties when the related sales occur. To date, the Company has achieved technical milestones associated with the research plan and recognized revenue associated with the milestone achievements totaling $ 7.5 million. As of June 30, 2024 no other milestones or royalties have been deemed likely to be achieved or have been achieved. In accordance with ASC 606, the Company allocated the transaction price, comprising the upfront payment of $ 8.0 million, based on the stand-alone selling price of the combined performance obligation and the material right. Based on management's analysis, the material right was allocated $ 0.3 million of the transaction price, while the combined performance obligation was allocated $ 7.7 million of the transaction price. The $ 7.7 million of revenue allocated to the combined performance obligation was recognized using the input method based on time elapsed as compared to the research term of 24 months , and the $ 0.3 million of revenue allocated to the material right was to be recognized over the third year of services performed under the research plan in the event the option to extend the research plan was exercised, or when the option expired in the event the option to extend the research plan was not exercised. During 2022, the option expired unexercised, and the $ 0.3 million was recognized. During the three and six months ended June 30, 2024 , the Company did no t recognize any revenue related to the Pfizer Agreement. During the three and six months ended June 30, 2023 , the Company recognized $ 3.5 million and $ 4.4 million, respectively, of revenue related to the Pfizer Agreement. As of June 30, 2024 and December 31, 2023 , there was no deferred revenue related to the Pfizer Agreement.

Assets Held for Sale and Discon

Assets Held for Sale and Discontinuing Operations	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE AND DISCONTINUING OPERATIONS	18. ASSETS HELD FOR SALE AND DISCONTINUING OPERATIONS The Company has made a strategic decision to sell its subsidiary, Eton. The sale is expected to be completed during the fiscal quarter ending September 30, 2024. Upon closing of the sale, the Company will deconsolidate the assets and liabilities of Eton. As of June 30, 2024, Eton met the held for sale criteria and is reflected as a discontinued operation in the consolidated financial statements for all periods presented. Additionally, the related assets and liabilities have been reported as assets and liabilities held for sale in the Company's condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023. Because the carrying value of the net assets of Eton exceeds the estimated fair value, the Company determined that Eton's held for sale net assets had been impaired. After performing quantitative testing, in which the Company used the expected consideration of $ 1.4 million as the fair value of the underlying net assets, the Company recorded a $ 0.2 million impairment of the net assets. The impairment loss has been included in the loss from discontinuing operations in the accompanying condensed consolidated financial statements. The Company's condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss, and condensed consolidated statements of cash flows report discontinuing operations separate from continuing operations. The Company's condensed consolidated statement of Redeemable Convertible Preferred Stock and Stockholders' (Deficit) Equity combines continuing and discontinuing operations. A summary of financial information related to the Company's discontinuing operations is as follows. The following table presents the results of the discontinuing operations for the three and six months ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) (in thousands) Revenue $ 1,133 $ 1,648 $ 2,384 $ 3,286 Cost of revenue 999 920 1,911 1,830 Research and development 535 666 1,101 1,294 Sales and marketing 52 168 165 300 General and administrative 329 418 716 870 Impairment of net assets held for sale 242 — 242 — Loss from discontinuing operations $ ( 1,024 ) $ ( 524 ) $ ( 1,751 ) $ ( 1,008 ) The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinuing operations for each of the periods presented (in thousands): June 30, December 31, Carrying amounts of assets of disposal group held for sale Current assets: Accounts receivable, net of allowance for credit losses of $ 159 and $ 90 at June 30, 2024 and December 31, 2023, respectively $ 693 $ 575 Inventory, net 269 315 Prepaid expenses and other current assets 11 — Total current assets of disposal group held for sale 973 890 Property and equipment, net 820 1,002 Right-of-use assets 1,171 1,331 Other long-term assets 39 53 Other intangible assets, net 360 393 Less: expected loss on sale of discontinuing operations ( 242 ) — Total assets of disposal group held for sale $ 3,121 $ 3,669 Carrying amounts of liabilities of disposal group held for sale Current liabilities: Accounts payable $ 115 $ 119 Accrued employee expenses 319 314 Operating lease liability, current portion 341 320 Other accrued liabilities 82 66 Other current liabilities 40 49 Total current liabilities of disposal group held for sale 897 868 Operating lease liability, net of current portion 874 1,050 Total liabilities of disposal group held for sale $ 1,771 $ 1,918 Net assets of disposal group held for sale $ 1,350 $ 1,751 The accompanying unaudited condensed consolidated statements of cash flows includes depreciation and amortization for the discontinuing operations of approximately $ 0.2 million and $ 0.3 million for the six months ended June 30, 2024 and 2023, as well as purchases of fixed assets of $ 6 thousand and $ 0.1 million for the six months ended June 30, 2024 and 2023, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	19. SUBSEQUENT EVENTS Leases In July 2024, the Company signed a second amendment to the Wateridge Pointe Lease for its corporate headquarters located at 10421 and 10431 Wateridge Circle (the 2024 Second Amendment). Under the 2024 Second Amendment, the lease term expiration date with respect to the 10431 premises will be December 31, 2024 , with the Company surrendering the property to the landlord on or before October 31, 2024. Base rent under the 2024 Second Amendment will be $ 0.6 million per month from July 2024 through December 2024, followed by escalating base rent payments of $ 0.1 million per month from January 1, 2025 through July 5, 2033. Additionally, the security deposit, which had previously been applied to monthly base rent in accordance with the 2024 First Amendment, was increased to $ 0.3 million. Notes Payable In July 2024, the Company entered into promissory notes (the 2024 Shareholder Notes) with two shareholders, Novalis Lifesciences II, LP (Novalis) and Northpond Ventures III, LP (Northpond), and together with Novalis, the Lenders), pursuant to which the aggregate principal amount borrowed under the 2024 Shareholder Notes was $ 5.8 million. The principal amount borrowed under the 2024 Shareholder Notes will bear interest at the rate of 12.00 % per annum. Each of the Lenders, along with their affiliates, are beneficial owners of more than 10 % of the Company’s common stock. Contemporaneously with the execution and delivery of the 2024 Shareholder Notes, the Company repaid in full all outstanding indebtedness and terminated all commitments and obligations under the 2022 Term Loan and the 2022 Revolving Loan with MidCap Financial Trust (Note 9). The Company’s payment under the 2022 Term Loan Agreement was approximately $ 5.8 million. Contemporaneously with the execution and delivery of the 2024 Shareholder Notes, the lenders and the Company also entered into a side letter agreement (Director Designation Side Letter), pursuant to which the Company has agreed to, among other items, (i) increase the size of its board of directors to 13 directors, (ii) appoint five individuals nominated by the Lenders (the Lender Nominees) to the Company’s board of directors, and, subject to the applicable stockholder vote, ensure that the Lender Nominees otherwise remain on the board, (iii) appoint replacement directors nominated by the Lenders in the event a Lender Nominee ceases to serve as a director (subject to the Lenders, along with their affiliates, continuing to collectively beneficially own at least 10 % of the Company’s outstanding common stock), and (iv) ensure that at least a majority of the Nominating and Corporate Governance Committee of the board of directors consists of Lender Nominees or their replacements, subject to the aforementioned 10 % ownership requirement. In connection with the 2024 Shareholder Notes, the Company also entered into a registration rights waiver agreement, with the Lenders (the Waiver Agreement), pursuant to which the lenders waived certain rights contained in the Registration Rights Agreement. Pursuant to the Waiver Agreement, the lenders agreed, on behalf of themselves and the other holders of Redeemable Convertible Preferred Stock, to, among other items, defer payment of liquidated damages and waive accrued interest during such deferral periods due to the holders of the Redeemable Convertible Preferred Stock until the earlier of (i) the date that is 60 days following the end of the Company’s first fiscal quarter in which it becomes cash flow positive, (ii) the date on which the Company consummates a merger-like transaction, or (iii) the date on which the Company consummates a debt or equity financing in which the gross proceeds to the Company is greater than or equal to $ 5.0 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Reverse Stock Split	Reverse Stock Split On May 2, 2024, the Company filed a Certificate of Amendment (the Reverse Stock Split Amendment) to the Company’s Restated Certificate of Incorporation with the Secretary of State of Delaware to effect a 1-for- 18 Reverse Stock Split of the Company's common stock (the Reverse Stock Split), which became effective on May 9, 2024. The Reverse Stock Split Amendment did not reduce the number of authorized shares of common stock, which remains at 100,000,000 , and did not change the par value of the common stock, which remains at $ 0.0001 per share. As a result of the Reverse Stock Split, every eighteen shares of the common stock were combined into one issued and outstanding share of common stock and no fractional shares were issued. Instead, to any holder who would have otherwise been entitled to receive a fractional share of common stock, the Company issued such holder an additional fractional share, such that, when combined with the fractional share otherwise issuable as a result of the Reverse Stock Split, equaled a whole share of common stock. All share and per share information shown herein has been retroactively adjusted to reflect the effect of the Reverse Stock Split Amendment for all periods presented.
Basis of Presentation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC) and in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP), and include the accounts of the Company and its wholly owned subsidiaries after the elimination of all significant intercompany accounts and transactions. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (ASC) and as amended by the ASUs of the Financial Accounting Standards Board (FASB).
Principle of Consolidation	The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2023, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s condensed consolidated balance sheet as of June 30, 2024, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2024 and 2023, condensed consolidated statements of stockholders’ (deficit) equity for the three and six months ended June 30, 2024 and 2023 and the condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K, filed with the SEC on March 29, 2024 (the Annual Report). The condensed consolidated balance sheet data as of December 31, 2023 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP and Article 8 of Regulation S-X. The results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2024, any other interim periods, or any future year or period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2023 included in the Annual Report. Since the date of the audited consolidated financial statements for the year ended December 31, 2023 included in the Annual Report, there have been no changes to its significant accounting policies except as noted below.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods presented. Key estimates in the consolidated financial statements include the Company’s ability to continue as a going concern, revenue recognition, impairment assessment for goodwill and intangible assets, allowance for credit losses, estimated useful lives of property and equipment, valuation of inventory, accrued expenses, valuation of deferred income tax assets, valuation of derivative liabilities, valuation of preferred stock and warrants, share-based compensation, and accrued warranty are subject to significant estimation. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment and it is reasonably possible that management's estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements could change in the near term due to one of more future confirming events.
Assets Held for Sale and Discontinuing Operations	Assets Held for Sale and Discontinuing Operations In accordance with ASC 205-20 “ Presentation of Financial Statements: Discontinued Operations ”, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinuing operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, non-current assets, current liabilities, and non-current liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinuing operations, less applicable income taxes, shall be reported as components of net loss separate from the net loss of continuing operations. The Company’s Eton subsidiary met the definition of a discontinuing operation as of June 30, 2024. Accordingly, the Company has classified the results of Eton as discontinuing operations in its unaudited condensed consolidated statements of operations and comprehensive loss for all periods presented. All assets and liabilities associated with Eton were classified as assets and liabilities of discontinuing operations in the unaudited condensed consolidated balance sheets for the periods presented. All amounts included in the notes to the unaudited condensed consolidated financial statements relate to continuing operations unless otherwise noted. For additional information, see Note 18, “Assets held for Sale and Discontinuing Operations”.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current presentation. The Company separately presented interest income and interest expense that had previously been combined as “Interest expense, net” on the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2023. The Company also separately presented the provision for credit losses line on the condensed consolidated statement of cash flows, which had previously been combined with the change in accounts receivable. These reclassifications had no impact on net loss for the three and six months ended June 30, 2023 or net cash used in operating activities for the six months ended June 30, 2023 .
Restricted Cash	Restricted Cash In accordance with ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, the Company explains the change during the period in the total of cash, cash equivalents and restricted cash, and includes restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the condensed consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet dates that comprise the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 6,397 $ 1,570 Restricted cash 100 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 6,497 $ 1,745
Accounts Receivable	Accounts Receivable Accounts receivable is comprised of amounts due from third-party payors recorded at the invoice amount and does not bear interest. The Company reports accounts receivable net of estimated contractual adjustments and any allowance for credit losses. The Company reviews accounts receivable on an ongoing basis to determine collectability. The Company maintains an allowance for credit losses based on its assessment of the collectability of the amounts owed to the Company by its customers. The Company considers the following in determining the level of allowance required: its customer’s payment history, the age of the receivable, the credit quality of its customers, the general financial condition of its customer base and other factors that may affect the customers’ ability to pay. The Company writes off accounts against the allowance for credit losses when they are deemed to be uncollectible. Net accounts receivable amounted to $ 1.3 million and $ 5.4 million as of June 30, 2024 and December 31, 2023, respectively. Net accounts receivable include an allowance for credit losses of $ 1.0 million and $ 1.2 million at June 30, 2024 and December 31, 2023, respectively, for those accounts deemed uncollectible by the Company. The allowance for credit losses consists of the following activity (in thousands): Allowance for credit losses at December 31, 2023 $ 1,197 Provision for credit losses 205 Write-offs ( 397 ) Allowance for credit losses at June 30, 2024 $ 1,005 Allowance for credit losses at December 31, 2022 $ 311 Provision for credit losses 420 Write-offs — Allowance for credit losses at June 30, 2023 $ 731
Inventory	Inventories include material, labor and overhead and are stated at the lower of cost (first-in, first-out method) or net realizable value
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the ASC. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the impact this guidance will have on its consolidated financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This standard requires the Company to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and are included within each reported measure of segment operating results. The standard also requires the Company to disclose the total amount of any other items included in segment operating results, which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items. In addition, the standard also requires disclosure of the CODM’s title and position, as well as detail on how the CODM uses the reported measure of segment operating results to evaluate segment performance and allocate resources. The standard also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. This standard is effective for annual financial reporting in fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments in this update are required to be applied on a retrospective basis. The Company is currently evaluating the potential impact that this new standard will have on its consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). This standard requires the Company to provide further disaggregated income tax disclosures for specific categories on the effective tax rate reconciliation, as well as additional information about federal, state/local and foreign income taxes. The standard also requires the Company to annually disclose its income taxes paid (net of refunds received), disaggregated by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is to be applied prospective basis, although optional retrospective application is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statement disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet dates that comprise the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 6,397 $ 1,570 Restricted cash 100 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 6,497 $ 1,745
Summary of Allowance for Credit Losses	The allowance for credit losses consists of the following activity (in thousands): Allowance for credit losses at December 31, 2023 $ 1,197 Provision for credit losses 205 Write-offs ( 397 ) Allowance for credit losses at June 30, 2024 $ 1,005 Allowance for credit losses at December 31, 2022 $ 311 Provision for credit losses 420 Write-offs — Allowance for credit losses at June 30, 2023 $ 731

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the fair values of the Company’s assets and liabilities on the condensed consolidated balance sheets which comprise money market funds, commercial paper, U.S. government securities, corporate debt securities and the contingent put option liability (in thousands): Fair value measurements as of June 30, 2024 Level 1 Level 2 Level 3 Total Assets Money market funds $ 4,091 $ — $ — $ 4,091 U.S. government securities — 3,567 — 3,567 Corporate debt securities — 250 — 250 Total $ 4,091 $ 3,817 $ — $ 7,908 Liabilities Contingent put option liability $ — $ — $ 36 $ 36 Total $ — $ — $ 36 $ 36 Fair value measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 6 $ — $ — $ 6 Commercial paper — 6,407 — 6,407 U.S. government securities — 8,943 — 8,943 Corporate debt securities — 2,238 — 2,238 Total $ 6 $ 17,588 $ — $ 17,594 Liabilities Contingent put option liability $ — $ — $ 36 $ 36 Total $ — $ — $ 36 $ 36
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a roll-forward of the aggregate fair value of the Company’s derivative liabilities for which fair value is determined using Level 3 inputs (in thousands): Contingent Put Option Liability Fair value at December 31, 2023 $ 36 Change in fair value — Fair value at June 30, 2024 $ 36 Contingent Put Option Liability Fair value at December 31, 2022 $ 367 Change in fair value ( 159 ) Fair value at June 30, 2023 $ 208

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Short-Term Investments	The following tables summarize the short-term investments held (in thousands): June 30, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets U.S. Government securities $ 3,569 $ — $ ( 2 ) $ 3,567 Corporate debt securities 251 — ( 1 ) 250 Total $ 3,820 $ — $ ( 3 ) $ 3,817 December 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 6,407 $ 1 $ ( 1 ) $ 6,407 U.S. Government securities 8,938 6 ( 1 ) 8,943 Corporate debt securities 2,237 1 — 2,238 Total $ 17,582 $ 8 $ ( 2 ) $ 17,588

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventory are as follows at June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Raw materials $ 381 $ 1,711 Work in process and sub-assemblies 89 1,031 Finished goods 887 968 Total $ 1,357 $ 3,710

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following on June 30, 2024 and December 31, 2023 (in thousands): June 30, 2024 December 31, 2023 Machinery and equipment $ 4,934 $ 4,597 Furniture and fixtures 308 908 Computer hardware and software 2,222 2,395 Leasehold improvements 145 332 Construction in progress 90 586 Total 7,699 8,818 Less: Accumulated depreciation and amortization ( 3,301 ) ( 2,520 ) Total property and equipment, net $ 4,398 $ 6,298

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets, Net	Other intangible assets, net consists of the following (in thousands): June 30, 2024 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 2,400 ) $ 750 Total $ 3,150 $ ( 2,400 ) $ 750 December 31, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 2,176 ) $ 974 Total $ 3,150 $ ( 2,176 ) $ 974
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table summarizes the estimated future amortization expense of the intangible assets as of June 30, 2024 (in thousands): Years ending December 31: Amortization of Intangible Assets 2024 (remaining six months) $ 225 2025 450 2026 75 Total $ 750

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease, Cost	The components of lease cost under ASC 842 are as follows (in thousands): June 30, 2024 2023 Lease costs Finance lease cost: Amortization of finance lease right-of-use asset $ 66 $ 14 Interest on finance lease liabilities 10 1 Operating lease costs 2,349 1,846 Variable lease cost 704 520 Short term lease cost 7 208 Lease costs included in discontinuing operations 461 533 Total lease cost $ 3,597 $ 3,122 Supplemental disclosure of cash flow information related to leases is as follows (in thousands): June 30, 2024 2023 Cash paid for amounts included in the measurement of lease Operating cash flows from operating leases $ 473 $ 494 Operating cash flows from finance leases $ 10 $ 1 Financing cash flows from finance leases $ 38 $ 29 The weighted-average remaining lease term and discount rate were as follows: June 30, 2024 December 31, 2023 Weighted-average remaining lease term Finance leases 2 years 2.5 years Operating leases 9 years 9.2 years Weighted-average discount rate Finance leases 8.8 % 8.8 % Operating leases 9.8 % 9.7 %
Lessee, Operating Lease and Finance Lease, Liability, Fiscal Year Maturity	The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of June 30, 2024 (in thousands) (Note 19): Years Ending December 31, Operating Finance 2024 (remaining six months) $ 2,251 $ 83 2025 4,570 99 2026 4,707 57 2027 4,848 — 2028 4,994 — Thereafter 24,450 — Total future minimum lease payments 45,820 239 Less: imputed interest ( 15,766 ) ( 18 ) Present value of lease liability 30,054 221 Less: current portion of lease liability ( 1,676 ) ( 118 ) Non-current portion of lease liability $ 28,378 $ 103

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2024 and December 31, 2023, the notes payable on the condensed consolidated balance sheets pertains to the 2022 Term Loan with MidCap Financial Trust and consists of the following (in thousands): June 30, 2024 December 31, 2023 Principal amount of notes payable $ 5,000 $ 5,000 Less: Current portion of notes payable — — Notes payable, net of current portion 5,000 5,000 Accrued interest — 100 Final debt payment liability 750 750 Debt discount and financing costs, net of accretion ( 472 ) ( 581 ) Notes payable, net of discount and current portion $ 5,278 $ 5,269
Schedule of Maturities of Long-term Debt	As of June 30, 2024, the estimated future principal payments due were as follows (Note 19): June 30, 2024 Estimated future principal payments due 2024 $ — 2025 1,042 2026 2,500 2027 1,458 Total $ 5,000

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
Summary of Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock consisted of the following as of June 30, 2024 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 30,481 $ 30,481 Total 280,000 280,000 $ 30,481 $ 30,481 Redeemable Convertible Preferred Stock consisted of the following as of December 31, 2023 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 29,300 $ 29,300 Total 280,000 280,000 $ 29,300 $ 29,300

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Option, Activity	Stock option activity under the 2019 Plan, the 2021 Plan and the 2021 SIP for the six months ended June 30, 2024 is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Balances at December 31, 2023 314,757 $ 34.22 8.5 $ 1 Options granted 34,139 7.25 Options exercised ( 480 ) 7.02 Options cancelled ( 31,738 ) 23.60 Balances at June 30, 2024 316,678 $ 32.42 8.2 $ — Vested and expected to vest at June 30, 2024 301,642 $ 32.30 8.2 $ — Exercisable at June 30, 2024 140,004 $ 42.10 7.6 $ —
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The calculated value of option grants during the six months ended June 30, 2024 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: Six Months Ended June 30, 2024 Risk free interest rate 4.4 % Expected dividend yield — % Expected term 6.0 years Expected volatility 55.2 %
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of the restricted stock unit activity during the six months ended June 30, 2024 is as follows: Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested at December 31, 2023 32,741 $ 48.26 Granted 15,984 6.56 Vested ( 13,308 ) 44.66 Cancelled ( 863 ) 103.35 Unvested at June 30, 2024 34,554 $ 28.98
Summary of Share-based Compensation Expense	The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options $ 686 $ 751 $ 1,253 $ 1,751 Restricted stock units 179 266 372 392 Employee stock purchase plan 4 18 10 48 Total $ 869 $ 1,035 $ 1,635 $ 2,191 The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development $ 89 $ 160 $ 185 $ 459 Sales and marketing 12 67 21 233 General and administrative 768 808 1,429 1,499 Total $ 869 $ 1,035 $ 1,635 $ 2,191

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss from continuing operations $ ( 11,561 ) $ ( 7,763 ) $ ( 19,471 ) $ ( 18,398 ) Net loss from discontinuing operations ( 1,024 ) ( 524 ) ( 1,751 ) ( 1,008 ) Less: Redeemable Convertible Preferred Stock Dividends ( 596 ) ( 153 ) ( 1,181 ) ( 153 ) Net loss attributable to common stockholders $ ( 13,181 ) $ ( 8,440 ) $ ( 22,403 ) $ ( 19,559 ) Denominator: Weighted average common stock outstanding - basic and diluted 1,730,210 1,654,127 1,700,596 1,651,053 Net loss per share from continuing operations attributable to common stockholders—basic and diluted $ ( 7.03 ) $ ( 4.79 ) $ ( 12.14 ) $ ( 11.24 ) Net loss per share from discontinuing operations attributable to common stockholders—basic and diluted $ ( 0.59 ) $ ( 0.32 ) $ ( 1.03 ) $ ( 0.61 ) Net loss per share attributable to common stockholders - basic and diluted $ ( 7.62 ) $ ( 5.10 ) $ ( 13.17 ) $ ( 11.85 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following potential shares of common stock from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: June 30, 2024 2023 Stock options to purchase common stock 316,678 319,725 Restricted stock units that vest into common stock 34,554 22,565 Shares issuable under employee stock purchase plan — 5,942 Warrants to purchase common stock 1,022,352 1,007,067 Redeemable Convertible Preferred Stock (as converted to common stock) 716,530 661,820 Total 2,090,114 2,017,119

Assets Held for Sale and Disc_2

Assets Held for Sale and Discontinuing Operations (Tables)	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Information Related to Discontinuing Operations	The following table presents the results of the discontinuing operations for the three and six months ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) (in thousands) Revenue $ 1,133 $ 1,648 $ 2,384 $ 3,286 Cost of revenue 999 920 1,911 1,830 Research and development 535 666 1,101 1,294 Sales and marketing 52 168 165 300 General and administrative 329 418 716 870 Impairment of net assets held for sale 242 — 242 — Loss from discontinuing operations $ ( 1,024 ) $ ( 524 ) $ ( 1,751 ) $ ( 1,008 ) The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinuing operations for each of the periods presented (in thousands): June 30, December 31, Carrying amounts of assets of disposal group held for sale Current assets: Accounts receivable, net of allowance for credit losses of $ 159 and $ 90 at June 30, 2024 and December 31, 2023, respectively $ 693 $ 575 Inventory, net 269 315 Prepaid expenses and other current assets 11 — Total current assets of disposal group held for sale 973 890 Property and equipment, net 820 1,002 Right-of-use assets 1,171 1,331 Other long-term assets 39 53 Other intangible assets, net 360 393 Less: expected loss on sale of discontinuing operations ( 242 ) — Total assets of disposal group held for sale $ 3,121 $ 3,669 Carrying amounts of liabilities of disposal group held for sale Current liabilities: Accounts payable $ 115 $ 119 Accrued employee expenses 319 314 Operating lease liability, current portion 341 320 Other accrued liabilities 82 66 Other current liabilities 40 49 Total current liabilities of disposal group held for sale 897 868 Operating lease liability, net of current portion 874 1,050 Total liabilities of disposal group held for sale $ 1,771 $ 1,918 Net assets of disposal group held for sale $ 1,350 $ 1,751 The accompanying unaudited condensed consolidated statements of cash flows includes depreciation and amortization for the discontinuing operations of approximately $ 0.2 million and $ 0.3 million for the six months ended June 30, 2024 and 2023, as well as purchases of fixed assets of $ 6 thousand and $ 0.1 million for the six months ended June 30, 2024 and 2023, respectively.

Organization Operations and Liq

Organization Operations and Liquidity (Details) - USD ($)		1 Months Ended		9 Months Ended
	Aug. 09, 2022	Jun. 30, 2023	Jun. 30, 2021	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Nov. 24, 2023	Nov. 03, 2023	Dec. 31, 2021
Business Acquisition [Line Items]
Accumulated deficit					$ (182,687,000)	$ (161,465,000)
Net proceeds from sale of preferred stock and warrants		$ 26,400,000
2022 Term Loan Agreements
Business Acquisition [Line Items]
Debt drew down	$ 20,000,000
Debt repayment obligation				$ 21,700,000			$ 15,000,000	$ 15,000,000
Exit fee percentage				5.50%
Prepayment premium percentage				3%
Repayment obligation					20,000,000
Pfizer
Business Acquisition [Line Items]
Upfront payment					0	$ 0
Pfizer | License
Business Acquisition [Line Items]
Upfront payment					8,000,000				$ 8,000,000
Milestone payments to be received					$ 7,500,000				$ 7,500,000
IPO
Business Acquisition [Line Items]
Net proceeds from issuance of shares of common stock in initial public offering			$ 112,500,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands	May 09, 2024 $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Class of Stock [Line Items]
Reverse stock split	As a result of the Reverse Stock Split, every eighteen shares of the common stock were combined into one issued and outstanding share of common stock and no fractional shares were issued.
Reverse stock split, conversion ratio	0.056
Common stock shares authorised | shares	100,000,000	100,000,000	100,000,000
Common stock per share | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Net accounts receivable		$ 1,334	$ 5,410
Allowance for credit losses		$ 1,005	$ 1,197

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 6,397	$ 1,570
Restricted cash	100	175
Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows	$ 6,497	$ 1,745	$ 46,783	$ 30,594

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Allowance for credit losses, Beginning Balance	$ 1,197	$ 311
Provision for credit losses	205	420
Write-offs	(397)	0
Allowance for credit losses, Ending Balance	$ 1,005	$ 731

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Fair Value	$ 3,817	$ 17,588
Corporate debt securities
Assets
Fair Value	250	2,238
Fair Value, Recurring
Assets
Total	7,908	17,594
Liabilities
Total	36	36
Fair Value, Recurring | Contingent put option liability
Liabilities
Derivative liability	36	36
Fair Value, Recurring | Corporate debt securities
Assets
Fair Value	250	2,238
Fair Value, Recurring | Money market funds
Assets
Derivative asset	4,091	6
Fair Value, Recurring | Commercial paper
Assets
Fair Value		6,407
Fair Value, Recurring | U.S. government securities
Assets
Fair Value	3,567	8,943
Fair Value, Recurring | Level 1
Assets
Total	4,091	6
Liabilities
Total	0	0
Fair Value, Recurring | Level 1 | Contingent put option liability
Liabilities
Derivative liability	0	0
Fair Value, Recurring | Level 1 | Corporate debt securities
Assets
Fair Value	0	0
Fair Value, Recurring | Level 1 | Money market funds
Assets
Derivative asset	4,091	6
Fair Value, Recurring | Level 1 | Commercial paper
Assets
Fair Value		0
Fair Value, Recurring | Level 1 | U.S. government securities
Assets
Fair Value	0	0
Fair Value, Recurring | Level 2
Assets
Total	3,817	17,588
Liabilities
Total	0	0
Fair Value, Recurring | Level 2 | Contingent put option liability
Liabilities
Derivative liability	0	0
Fair Value, Recurring | Level 2 | Corporate debt securities
Assets
Fair Value	250	2,238
Fair Value, Recurring | Level 2 | Money market funds
Assets
Derivative asset	0	0
Fair Value, Recurring | Level 2 | Commercial paper
Assets
Fair Value		6,407
Fair Value, Recurring | Level 2 | U.S. government securities
Assets
Fair Value	3,567	8,943
Fair Value, Recurring | Level 3
Assets
Total	0	0
Liabilities
Total	36	36
Fair Value, Recurring | Level 3 | Contingent put option liability
Liabilities
Derivative liability	36	36
Fair Value, Recurring | Level 3 | Corporate debt securities
Assets
Fair Value	0	0
Fair Value, Recurring | Level 3 | Money market funds
Assets
Derivative asset	0	0
Fair Value, Recurring | Level 3 | Commercial paper
Assets
Fair Value		0
Fair Value, Recurring | Level 3 | U.S. government securities
Assets
Fair Value	$ 0	$ 0

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value of derivative liabilities	$ 19	$ 0	$ 159
Measurement Input, Cost to Sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt, measurement input		0.1248		0.1248
Measurement Input, Default Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt, measurement input		0.45		0.45

Fair Value Measurement - Roll f

Fair Value Measurement - Roll forward of Level 3 Financial Instruments (Details) - Contingent put option liability - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 36	$ 367
Change in fair value	0	(159)
Ending balance	$ 36	$ 208

Investments - Summary of Short-

Investments - Summary of Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 3,820	$ 17,582
Unrealized Gains		8
Unrealized Losses	(3)	(2)
Fair Value	3,817	17,588
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost		6,407
Unrealized Gains		1
Unrealized Losses		(1)
Fair Value		6,407
U.S. Government securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,569	8,938
Unrealized Gains		6
Unrealized Losses	(2)	(1)
Fair Value	3,567	8,943
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	251	2,237
Unrealized Gains		1
Unrealized Losses	(1)
Fair Value	$ 250	$ 2,238

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Securities, Available-for-Sale [Abstract]
Impairment of credit losses for investments	$ 0	$ 0	$ 0	$ 0

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 381	$ 1,711
Work in process and sub-assemblies	89	1,031
Finished goods	887	968
Total	$ 1,357	$ 3,710

Inventory - Narrative (Details)

Inventory - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory reserve	$ 2.5	$ 0.8

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total	$ 7,699	$ 8,818
Less: Accumulated depreciation and amortization	(3,301)	(2,520)
Total property and equipment, net	4,398	6,298
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	4,934	4,597
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total	308	908
Computer hardware and software
Property, Plant and Equipment [Line Items]
Total	2,222	2,395
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total	145	332
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 90	$ 586

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 400,000	$ 300,000	$ 833,000	$ 557,000
Impairment charges	$ 1,017,000	$ 0	$ 1,017,000	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details)		3 Months Ended			6 Months Ended		12 Months Ended
	Nov. 18, 2021 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Mar. 08, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 3,497,000	$ 3,497,000		$ 3,497,000		$ 3,497,000	$ 3,500,000
Goodwill, impairment		0		$ 0	$ 0	$ 0
Number of reporting units | Segment					2
Intangible assets		3,150,000	3,150,000		$ 3,150,000		3,150,000
Impairment of intangible assets		0		0	0	0
Amortization expense		100,000		$ 100,000	224,000	$ 225,000
2022 Term Loan Agreements
Finite-Lived Intangible Assets [Line Items]
Early repayment of debt			15,000,000
Eton
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 11,400,000	$ 0			0
Goodwill, impairment					$ 11,400,000
Telesis Bio
Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 3,500,000				3,500,000
Goodwill, impairment							$ 0
Technology
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	7 years
Other intangible assets acquired	$ 3,200,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,150	$ 3,150
Accumulated Amortization	(2,400)	(2,176)
Net Carrying Value	750	974
Intellectual Property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,150	3,150
Accumulated Amortization	(2,400)	(2,176)
Net Carrying Value	$ 750	$ 974

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining six months)	$ 225
2025	450
2026	75
Net Carrying Value	$ 750	$ 974

Leases - Narrative (Details)

Leases - Narrative (Details)	1 Months Ended		6 Months Ended
	Jan. 31, 2024 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2024 USD ($) Lease	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Number of outstanding leases | Lease			3
10431 Wateridge Circle
Lessee, Lease, Description [Line Items]
Renovation price per unit (in USD per square foot)		$ 185
Renovation price		12,300,000
Additional allowance, up to (in USD per square foot)		10
Additional allowance, up to		700,000
Annual Lease Payments		$ 3,900,000
Annual rent increase (as a percent)		3%
Options to extend		one
Extension (in years)		5 years
Term of contract (in years)				10 years 3 months
10421 and 10431 Wateridge Circle
Lessee, Lease, Description [Line Items]
Operating lease, base rent			$ 400,000
10421 and 10431 Wateridge Circle | 2024 First Amendment
Lessee, Lease, Description [Line Items]
Security deposit	$ 400,000
Operating lease, base rent	$ 500,000		$ 1,500,000
Minimum
Lessee, Lease, Description [Line Items]
Term of leases			1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of leases			9 years
Maximum | Short Term Lease
Lessee, Lease, Description [Line Items]
Term of leases			1 year

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Finance lease cost:
Amortization of finance lease right-of-use asset	$ 66	$ 14
Interest on finance lease liabilities	10	1
Operating lease costs	2,349	1,846
Variable lease cost	704	520
Short term lease cost	7	208
Lease costs included in discontinuing operations	461	533
Total lease cost	$ 3,597	$ 3,122

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 473	$ 494
Operating cash flows from finance leases	10	1
Financing cash flows from finance leases	$ 38	$ 29

Leases - Weighted-Average Lease

Leases - Weighted-Average Lease Terms and Interest Rates (Details)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance leases, weighted average remaining lease term (in years)	2 years	2 years 6 months
Operating leases, weighted average remaining lease term (in years)	9 years	9 years 2 months 12 days
Finance leases, weighted average discount rate (as a percent)	8.80%	8.80%
Operating leases, weighted average discount rate (as a percent)	9.80%	9.70%

Leases - Minimum Future Lease P

Leases - Minimum Future Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating
2024 (remaining six months)	$ 2,251
2025	4,570
2026	4,707
2027	4,848
2028	4,994
Thereafter	24,450
Total future minimum lease payments	45,820
Less: imputed interest	(15,766)
Present value of lease liability	30,054
Less: current portion of lease liability	(1,676)	$ (1,390)
Non-current portion of lease liability	28,378	26,092
Finance
2024 (remaining six months)	83
2025	99
2026	57
2027	0
2028	0
Thereafter	0
Total future minimum lease payments	239
Less: imputed interest	(18)
Present value of operating lease liability	221
Less: current portion of lease liability	(118)	(112)
Non-current portion of lease liability	$ 103	$ 147

Notes Payable - Schedule of Lon

Notes Payable - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Principal amount of notes payable	$ 5,000	$ 5,000
Less: Current portion of notes payable	0	0
Notes payable, net of current portion	5,000	5,000
Accrued interest		100
Final debt payment liability	750	750
Debt discount and financing costs, net of accretion	(472)	(581)
Notes payable, net of discount and current portion	$ 5,278	$ 5,269

Notes Payable - Narrative (Deta

Notes Payable - Narrative (Details) - USD ($)			9 Months Ended
	Nov. 24, 2023	Aug. 09, 2022	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Nov. 03, 2023	Jun. 05, 2023
Debt Instrument [Line Items]
Accrued interest				$ 52,000
Final debt payment				750,000	$ 750,000
Warrants liability				$ 36,000			$ 28,000,000
Lender notice description on debt repayment	On November 24, 2023, the Company entered into Amendment No. 3 to the 2022 Loan Agreements (Amendment No. 3). The impact of Amendment No. 3 was to (i) repay $15.0 million in November 2023 under the 2022 Term Loan Agreement and (ii) grant MidCap a warrant to purchase 15,278 shares of common stock at an exercise price per share equal to the 10-day volume weighted average price of the Company's common stock immediately prior to the date of Amendment No. 3. In exchange for the Company doing the foregoing, MidCap (i) waived all existing defaults under the 2022 Loan Agreements, (ii) reset revenue covenants under the 2022 Term Loan Agreement, (iii) waived the prepayment penalty related to the $15.0 million repayment and reduced the prepayment penalty for the remaining outstanding balance under the 2022 Term Loan Agreement to 1%, (iv) froze any future extensions of credit under the 2022 Revolving Loan Agreement and (v) reduced the exit fee payable upon complete repayment of amounts left outstanding at the end of term by $350,000, with the remaining $750,000 of exit fees to be payable at maturity.
Warrant to purchase shares of common stock				1,022,352	1,022,352		987,325
Outstanding exit fee payable	$ 350,000
Exit fees payable at maturity	750,000
Exit fees payable				$ 750,000
2022 Term Loan Agreements
Debt Instrument [Line Items]
Exit fee percentage			5.50%
Prepayment premium percentage			3%
Debt repayment obligation	$ 15,000,000		$ 21,700,000			$ 15,000,000
Warrant to purchase shares of common stock	15,278
Percentage of prepayment penalty for remaining outstanding balance	1%
Revolving Credit Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Prepayment penalty			$ 300,000
Line of Credit | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Effective interest rate (as a percent)				17.01%
Credit, Security and Guaranty Agreement | 2022 Loan Agreements
Debt Instrument [Line Items]
Debt instrument, interest rate terms		The 2022 Loan Agreements provide that, under certain circumstances, a default interest rate will apply on all obligations under such agreement during the existence of an event of default, at a per annum rate equal to 2.0% above the applicable interest rate.
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | SOFR
Debt Instrument [Line Items]
Stated percentage rate (as a percent)		6.75%
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Prepayment premium percentage		1%
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | 2022 Loan Agreements | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate		0.10%
Credit, Security and Guaranty Agreement | Revolving Credit Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000
Debt instrument, maturity date		Aug. 01, 2027
Basis spread on variable rate		1.50%
Stated percentage rate (as a percent)		3%
Loans outstanding				$ 0
Unused line fee percentage		0.50%
Credit, Security and Guaranty Agreement | Minimum | 2022 Loan Agreements
Debt Instrument [Line Items]
Debt instrument, cash covenant		$ 7,000,000
Credit, Security and Guaranty Agreement | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount		30,000,000
Credit, Security and Guaranty Agreement | Tranche 1 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount		20,000,000
Credit, Security and Guaranty Agreement | Tranche 2 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount		5,000,000
Credit, Security and Guaranty Agreement | Tranche 3 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount		$ 5,000,000

Notes Payable - Schedule of Mat

Notes Payable - Schedule of Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2024	$ 0
2025	1,042
2026	2,500
2027	1,458
Principal amount of notes payable	$ 5,000	$ 5,000

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity (Details) - $ / shares	Jun. 30, 2024	May 09, 2024	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	280,000		280,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	5,000,000		5,000,000
Redeemable convertible preferred stock, preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Narrative (Details)		6 Months Ended
	May 31, 2023 USD ($)	Jun. 30, 2024 USD ($) TradingDay $ / shares shares	Dec. 31, 2023 shares	Jun. 05, 2023 USD ($) shares
Temporary Equity [Line Items]
Preferred stock, shares authorized (in shares) | shares		280,000	280,000
Redeemable convertible preferred stock, shares issued | shares				280,000
Warrant to purchase shares of common stock | shares		1,022,352	1,022,352	987,325
Total purchase price		$ 36,000		$ 28,000,000
Annual dividend rate		8%
Description of preferred stock dividend payment rate variable		“Accrued Value” means, with respect to each share of Redeemable Convertible Preferred Stock, the sum, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Redeemable Convertible Preferred Stock, of (i) $100.00 plus (ii) on each Quarterly Dividend Date, an additional amount equal to the dollar value of any dividends on a share of Redeemable Convertible Preferred Stock which have accrued on any dividend payment date and have not been previously added to such Accrued Value.
Dividends declared and distributed to stockholders		$ 0
Preferred stock rights and preference ratio		75%
Conversion price per share | $ / shares		$ 42.5394
Number of consecutive trading days for conversion price | TradingDay		30
Preferred stock conversion description		Each share of Redeemable Convertible Preferred Stock is convertible, at the option of the holder, at any time and from time to time, into such number of shares of common stock as is determined by dividing the Accrued Value by the Conversion Price (defined below) in effect at the time of conversion. The Conversion Price is initially equal to $42.5394 per share. If at any time following the third anniversary of the issue date, the closing sale price of the Company’s common stock exceeds 250% of the Conversion Price for 30 consecutive trading days, then the Company has the right to require conversion of the Redeemable Convertible Preferred Stock, in whole or in part, at the then effective conversion rate.
Percentage of multiplier for which liquidated damages to be paid in cash		1.50%
Percentage of aggregate purchase consideration payable as liquidated damages		6%
Preferred stock, voting rights		The holder of each share of Redeemable Convertible Preferred Stock is entitled to one vote for each share of common stock into which such Redeemable Convertible Preferred Stock is convertible on the record date for determining stockholders entitled to vote on such matter. With respect to such vote, such holder has full voting rights and powers equal to the voting rights of the holders of common stock.
Accrued dividends		$ 2,500,000
Five Year Term Warrants
Temporary Equity [Line Items]
Warrant to purchase shares of common stock | shares				19,749
Maximum
Temporary Equity [Line Items]
Expected aggregate liquidated damages		$ 1,700,000
Minimum
Temporary Equity [Line Items]
Preferred stock liquidation preference ratio		200%
Preferred stock convertible conversion ratio		2.50
Redeemable Convertible Preferred Stock and Warrant Purchase Agreement
Temporary Equity [Line Items]
Aggregate capital raised for issuance of preferred stock converted into common stock	$ 28,000,000

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares Authorized	280,000		280,000
Redeemable convertible preferred stock, Shares Outstanding	280,000		280,000
Redeemable Convertible Preferred Stock, Net Carrying Value	$ 30,481		$ 29,300
Redeemable Convertible Preferred Stock, Liquidation Preference	$ 30,481		$ 29,300
Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares Authorized	280,000		280,000
Redeemable convertible preferred stock, Shares Outstanding	280,000	280,000	280,000	280,000	0
Redeemable Convertible Preferred Stock, Price per Share	$ 100		$ 100
Redeemable Convertible Preferred Stock, Net Carrying Value	$ 30,481	$ 29,885	$ 29,300	$ 28,153	$ 0
Redeemable Convertible Preferred Stock, Liquidation Preference	$ 30,481		$ 29,300

Warrants - Narrative (Details)

Warrants - Narrative (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Nov. 24, 2023	Jun. 05, 2023
Class of Warrant or Right [Line Items]
Number of warrants issued	1,022,352	1,022,352		987,325
Warrant outstanding	1,022,352	1,022,352
Two Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued				329,109
Warrant exercise price				$ 46.7928
Warrant term				2 years
Warrant grant date fair value				$ 3.6
Seven Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued				658,216
Warrant exercise price				$ 46.7928
Warrant term				7 years
Warrant grant date fair value				$ 10.98
Five Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued				19,749
Warrant exercise price				$ 53.1738
Warrant term				5 years
Warrant grant date fair value				$ 8.1
Ten Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued			15,278
Warrant exercise price			$ 7.2
Warrant term			10 years
Warrant grant date fair value			$ 4.86

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 18, 2021	Jun. 30, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 03, 2021	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit					$ 0
Options granted (in shares)					34,139
Weighted average grant date fair value (in USD per share)					$ 4.08
Aggregate intrinsic value of options exercised					$ 2,000	$ 94,000
Unrecognized compensation expense			$ 3,300,000		$ 3,300,000
Period for recognition (in years)					1 year 9 months 18 days
Stock-based compensation expense			$ 869,000	$ 1,035,000	$ 1,635,000	2,191,000
2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)								308,011
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)							333,334
2021 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)		194,445	193,804		193,804
Additional shares allowed under plan (in shares)		875,000
Percentage of outstanding shares, maximum		5%
2021 Stock Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)		136,665
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	19,445		45,060		45,060
Additional shares allowed under plan (in shares)	58,334
Percentage of outstanding shares, maximum	1%
Common stock issued under ESPP (in shares)					3,436
Stock-based compensation expense			$ 4,000	$ 18,000	$ 10,000	$ 48,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Number of options
Outstanding at beginning of the period (in shares)	314,757
Options granted (in shares)	34,139
Options exercised (in shares)	(480)
Options cancelled (in shares)	(31,738)
Outstanding at end of the period (in shares)	316,678	314,757
Vested and expected to vest (in shares)	301,642
Exercisable (in shares)	140,004
Weighted average exercise price
Outstanding at beginning of period (in USD per share)	$ 34.22
Options granted (in USD per share)	7.25
Options exercised (in USD per share)	7.02
Options cancelled (in USD per share)	23.6
Outstanding at end of period (in USD per share)	32.42	$ 34.22
Vested and expected to vest (in USD per share)	32.3
Exercisable (in USD per share)	$ 42.1
Weighted average remaining contractual term (in years)
Outstanding (in years)	8 years 2 months 12 days	8 years 6 months
Vested and expected to vest (in years)	8 years 2 months 12 days
Exercisable (in years)	7 years 7 months 6 days
Aggregate intrinsic value (in thousands)
Outstanding	$ 0	$ 1
Vested and expected to vest	0
Exercisable	$ 0

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions (Details)	6 Months Ended
	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	4.40%
Expected dividend yield	0%
Expected term (in years)	6 years
Expected volatility	55.20%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Units
Beginning balance (in shares) | shares	32,741
Granted (in shares) | shares	15,984
Vested | shares	(13,308)
Cancelled | shares	(863)
Ending balance (in shares) | shares	34,554
Weighted-Average Grant Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 48.26
Granted (USD per share) | $ / shares	6.56
Vested (USD per share) | $ / shares	44.66
Cancelled (USD per share) | $ / shares	103.35
Ending balance (USD per share) | $ / shares	$ 28.98

Stock-Based Compensation - Clas

Stock-Based Compensation - Classification of Expense Related to Award Type Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options	$ 869	$ 1,035	$ 1,635	$ 2,191
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options	686	751	1,253	1,751
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options	179	266	372	392
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options	$ 4	$ 18	$ 10	$ 48

Stock-Based Compensation - Cl_2

Stock-Based Compensation - Classification of Expense Related to Expense Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 869	$ 1,035	$ 1,635	$ 2,191
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	89	160	185	459
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	12	67	21	233
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 768	$ 808	$ 1,429	$ 1,499

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	Jun. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Percentage of multiplier for which liquidated damages to be paid in cash	1.50%
Percentage of aggregate purchase consideration payable as liquidated damages	6%
Maximum
Loss Contingencies [Line Items]
Expected aggregate liquidated damages	$ 1,700,000

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss from continuing operations	$ (11,561)	$ (7,763)	$ (19,471)	$ (18,398)
Net loss from discontinuing operations	(1,024)	(524)	(1,751)	(1,008)
Less: Redeemable Convertible Preferred Stock Dividends	(596)	(153)	(1,181)	(153)
Net loss attributable to common stockholders	$ (13,181)	$ (8,440)	$ (22,403)	$ (19,559)
Denominator:
Weighted average common stock outstanding - basic (in shares)	1,730,210	1,654,127	1,700,596	1,651,053
Weighted average common stock outstanding - diluted (in shares)	1,730,210	1,654,127	1,700,596	1,651,053
Net loss per share from continuing operations attributable to common stockholders-basic (in USD per share)	$ (7.03)	$ (4.79)	$ (12.14)	$ (11.24)
Net loss per share from continuing operations attributable to common stockholders-diluted (in USD per share)	(7.03)	(4.79)	(12.14)	(11.24)
Net loss per share from discontinuing operations attributable to common stockholders-basic (in USD per share)	(0.59)	(0.32)	(1.03)	(0.61)
Net loss per share from discontinuing operations attributable to common stockholders-diluted (in USD per share)	(0.59)	(0.32)	(1.03)	(0.61)
Net loss per share attributable to common stockholders - basic (in USD per share)	(7.62)	(5.1)	(13.17)	(11.85)
Net loss per share attributable to common stockholders - diluted (in USD per share)	$ (7.62)	$ (5.1)	$ (13.17)	$ (11.85)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,090,114	2,017,119
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	316,678	319,725
Restricted stock units that vest into common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	34,554	22,565
Shares issuable under employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	5,942
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,022,352	1,007,067
Redeemable Convertible Preferred Stock (as converted to common stock)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	716,530	661,820

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Contribution costs	$ 0	$ 0

Collaboration (Details)

Collaboration (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended	31 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 1,550,000	$ 7,004,000	$ 3,739,000	$ 11,682,000
License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	0	$ 3,500	0	$ 4,400
Pfizer
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment	0		0			$ 0	$ 0
Pfizer | License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment	8,000,000		8,000,000			8,000,000		$ 8,000,000
Additional amounts to be received								2,500,000
Milestone payments to be received	$ 7,500,000		7,500,000			7,500,000		7,500,000
Pfizer | Clinical | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received								20,000,000
Pfizer | Clinical | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received								55,000,000
Pfizer | Sales Milestones | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received								60,000,000
Pfizer | Sales Milestones | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received								$ 180,000,000
Royalty percentage								1%
Pfizer | Research
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from the milestone achievement						$ 7,500,000
Pfizer | Material Rights
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue recognized			$ 300,000		$ 300,000

Collaboration (Details 1)

Collaboration (Details 1) - Pfizer [Member] - Research - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 $ in Millions	Dec. 31, 2021 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received	$ 7.7
Expected timing of revenue satisfaction (in years)	24 months

Assets Held for Sale and Disc_3

Assets Held for Sale and Discontinuing Operations - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of net assets	$ 242,000
Depreciation and amortization for the discontinuing operations	200,000	$ 300,000
Purchases of fixed assets	6,000	100,000
Purchases of fixed assets	583,000	$ 1,552,000
Eton
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value of the underlying net assets	1,400,000
Impairment of net assets	$ 200

Assets Held for Sale and Disc_4

Assets Held for Sale and Discontinuing Operations - Summary of Discontinuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinuing operations	$ (1,024)	$ (524)	$ (1,751)	$ (1,008)
Eton
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	1,133	1,648	2,384	3,286
Cost of revenue	999	920	1,911	1,830
Research and development	535	666	1,101	1,294
Sales and marketing	52	168	165	300
General and administrative	329	418	716	870
Impairment of net assets held for sale	242	0	242	0
Loss from discontinuing operations	$ (1,024)	$ (524)	$ (1,751)	$ (1,008)

Assets Held for Sale and Disc_5

Assets Held for Sale and Discontinuing Operations - Summary of Carrying Amounts of Major Classes of Assets and Liabilities of Discontinuing Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Total current assets of disposal group held for sale	$ 973	$ 890
Current liabilities:
Total current liabilities of disposal group held for sale	897	868
Eton
Current assets:
Accounts receivable, net of allowance for credit losses of $159 and $90 at June 30, 2024 and December 31, 2023, respectively	693	575
Inventory, net	269	315
Prepaid expenses and other current assets	11	0
Total current assets of disposal group held for sale	973	890
Property and equipment, net	820	1,002
Right-of-use assets	1,171	1,331
Other long-term assets	39	53
Other intangible assets, net	360	393
Less: expected loss on sale of discontinuing operations	(242)	0
Total assets of disposal group held for sale	3,121	3,669
Current liabilities:
Accounts payable	115	119
Accrued employee expenses	319	314
Operating lease liability, current portion	341	320
Other accrued liabilities	82	66
Other current liabilities	40	49
Total current liabilities of disposal group held for sale	897	868
Operating lease liability, net of current portion	874	1,050
Total liabilities of disposal group held for sale	1,771	1,918
Net assets of disposal group held for sale	$ 1,350	$ 1,751

Assets Held for Sale and Disc_6

Assets Held for Sale and Discontinuing Operations - Summary of Carrying Amounts of Major Classes of Assets and Liabilities of Discontinuing Operations (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Eton [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Allowance for credit losses	$ 159	$ 90

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($)		1 Months Ended	6 Months Ended	102 Months Ended
	Jul. 31, 2024	Jul. 31, 2024	Dec. 31, 2024	Jul. 05, 2033
2024 Second Amendment | Forecast
Subsequent Event [Line Items]
Operating lease, base rent			$ 600,000	$ 100,000
Subsequent Event | Minimum
Subsequent Event [Line Items]
Gross proceeds from debt or equity financing		$ 5,000,000
Subsequent Event | 2022 Term Loan
Subsequent Event [Line Items]
Repayment obligation	$ 5,800,000	$ 5,800,000
Subsequent Event | Common Stock | Minimum
Subsequent Event [Line Items]
Beneficial owners percentage	10%	10%
Subsequent Event | 2024 Shareholder Notes
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 5,800,000	$ 5,800,000
Effective interest rate (as a percent)	12%	12%
Subsequent Event | 2024 Shareholder Notes | Common Stock | Minimum
Subsequent Event [Line Items]
Beneficial owners percentage	10%	10%
Subsequent Event | 2024 Amendment
Subsequent Event [Line Items]
Increase (decrease) in security deposit	$ 300,000
Subsequent Event | 2024 Second Amendment
Subsequent Event [Line Items]
Lease Expiration Date	Dec. 31, 2024