v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 11 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
OPERATING ACTIVITIES          
Net loss $ (1,823) $ (2,498) $ (3,482) $ (4,528)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Share-based compensation expense     1,022 1,132  
Depreciation     3 11  
Amortization of operating lease right-of-use assets     48 55  
Changes in operating assets and liabilities:          
Accounts receivable     226 4  
Inventory     53 (10)  
Prepaid research and development     37 (133)  
Prepaid expenses and other current assets     101 (27)  
Deferred financing costs     0 544  
Long-term prepaid contracts     137 222 $ (500)
Accounts payable     (100) 307  
Operating lease liability     (45) (55)  
Accrued and other current liabilities     342 225  
Deferred revenue     149 0  
Net cash used in operating activities     (1,699) (2,253)  
FINANCING ACTIVITIES          
Proceeds from issuance of common stock     0 1,482  
Net cash provided by financing activities     0 1,982  
Effect of exchange rate changes on cash     (1) (22)  
Net decrease in cash and cash equivalents     (1,700) (293)  
Cash and cash equivalents at the beginning of the year     2,486 432  
Cash and cash equivalents at the end of the period $ 786 $ 139 786 139 $ 786
SUPPLEMENTAL INFORMATION          
Interest paid in cash     5 26  
Related Party [Member]          
FINANCING ACTIVITIES          
Proceeds from convertible debt – related party     0 500  
Insurance Premium Financing Payable [Member]          
Changes in operating assets and liabilities:          
Insurance premium financing payable     $ (190) $ 0