v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Cash flows from operating activities:        
Net loss $ (15,925,000) $ (17,442,000) $ (14,139,000) $ (9,536,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Share-based compensation expense 2,745,000     107,000
Depreciation and amortization 118,000     114,000
Amortization of right-of-use asset - operating 94,000     37,000
Change in operating assets and liabilities:        
Prepaid and other assets 731,000     437,000
Accounts payable, accrued and other liabilities (1,678,000)     (1,738,000)
Lease liabilities (130,000)     (50,000)
Other long-term liabilities 40,000      
Net cash used in operating activities (14,005,000)     (10,629,000)
Cash flows from investing activities:        
Purchases of property and equipment (18,000)     (9,000)
Net cash used in investing activities (18,000)     (9,000)
Cash flows from financing activities:        
Payment of reverse recapitalization transaction costs (40,000)      
Proceeds from the issuance of common stock in connection with equity plans       10,000
Net cash (used in) provided by financing activities (77,000)     10,000
Net decrease in cash and cash equivalents (14,100,000)     (10,628,000)
Cash and cash equivalents, beginning of period 110,761,000   $ 19,248,000 29,876,000
Cash and cash equivalents, end of period 96,661,000 $ 110,761,000   $ 19,248,000
Private Placement [Member]        
Cash flows from financing activities:        
Payment of issuance costs associated with the Concurrent Financing $ (37,000)