v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 31,123 $ 22,358
Accounts receivable 373 45
Inventory 505 341
Prepaid expenses, deposits, and other current assets 1,832 2,404
Total current assets 33,833 25,148
Fixed assets, net 948 1,062
Operating lease right-of-use assets 2,238 2,637
Intangible assets, net 526 736
Other assets 1,125 1,132
Total assets 38,670 30,715
Current liabilities:    
Accounts payable 833 1,241
Accrued expenses and other current liabilities 2,422 2,829
Operating lease liabilities, current portion 871 854
Senior Secured Convertible Notes - at fair value 25,300 18,600
Total current liabilities 29,426 23,524
Operating lease liabilities, less current portion 1,382 1,800
Total liabilities 30,808 25,324
Commitments and contingencies (Note 8)
Stockholders’ Equity (Deficit):    
Preferred stock, $0.001 par value, 20,000,000 shares authorized; Series B and Series B-1 Convertible Preferred Stock, issued and outstanding 54,419 at June 30, 2025 and December 31, 2024 54,419 54,419
Common stock, $0.001 par value, 300,000,000 shares authorized as of June 30, 2025 and December 31, 2024, respectively; 101,826,788 and 63,071,950 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 102 63
Additional paid-in capital 201,013 154,675
Accumulated deficit (247,672) (203,766)
Total Stockholders’ Equity (Deficit) 7,862 5,391
Total Liabilities and Stockholders’ Equity (Deficit) $ 38,670 $ 30,715