v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating activities:        
Net loss $ (4,583) $ (58,932) $ (10,542) $ (65,526)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation expense     1 1
Stock-based compensation     3,694 195
Non-cash interest expense     271 580
Non-cash debt issuance costs     0 9,417
Loss on extinguishment of convertible notes 0 26,359 0 26,359
Remeasurement of share-based termination liability 0 1,498 0 1,312
Changes in operating assets and liabilities:        
Accounts receivable     (697) 0
Inventory     1,414 (2,755)
Prepaid expenses and other current assets     2,301 269
Other non-current assets     18 300
Accounts payable     1,902 (585)
Accrued expenses and other current liabilities     (475) 634
Operating lease liabilities     0 (101)
Other non-current liabilities     (593) 0
Net cash used in operating activities     (2,856) (7,362)
Investing activities:        
Purchases of property and equipment     (12) (13)
Net cash used in investing activities     (12) (13)
Financing activities:        
Payments of deferred transaction costs     (185) (2,371)
Proceeds from issuance of Common stock (net of $25 of transaction costs)     515 0
Proceeds from issuance of related party notes     0 250
Payments on related party notes     0 (250)
Net cash provided by financing activities     330 16,300
Exchange rate effect on cash, cash equivalents and restricted cash     0 (47)
Net change in cash, cash equivalents and restricted cash     (2,538) 8,878
Cash, cash equivalents and restricted cash at beginning of period     3,512 934
Cash, cash equivalents and restricted cash at end of period 974 9,812 974 9,812
Supplemental cash flow disclosures:        
Cash paid for income taxes     0 0
Cash paid for interest     962 62
Supplemental disclosures of non-cash investing and financing activities:        
Deferred transaction costs in accounts payable and accrued expenses     54 637
Nonrelated Party        
Adjustments to reconcile net loss to net cash used in operating activities:        
Remeasurement of convertible notes 0 15,874 0 17,087
Financing activities:        
Proceeds from Bridge Financing Notes     0 18,671
Related Party        
Adjustments to reconcile net loss to net cash used in operating activities:        
Remeasurement of convertible notes 0 5,300 0 5,548
Remeasurement of convertible preferred stock warrant liability        
Adjustments to reconcile net loss to net cash used in operating activities:        
Remeasurement of warrant liability 0 (73) 0 (97)
Public placement warrant liability        
Adjustments to reconcile net loss to net cash used in operating activities:        
Remeasurement of warrant liability (78) 0 (262) 0
Private Placement Warrant Liability        
Adjustments to reconcile net loss to net cash used in operating activities:        
Remeasurement of warrant liability $ (499) $ 0 $ 112 $ 0