v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (2,667,000) $ (8,445,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 0 15,000
Share-based compensation expense 227,000 1,598,000
Change in fair value of warrants (294,000) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 360,000 2,159,000
Other assets (1,000) 76,000
Accounts payable (1,073,000) (563,000)
Accrued expense (246,000) (2,292,000)
Other liabilities 0 (56,000)
Cash used in operating activities (3,694,000) (7,508,000)
Financing activities:    
Proceeds from the sale of common stock in private placement 635,000 0
Cash provided by financing activities 635,000 0
Net decrease in cash and cash equivalents (3,059,000) (7,508,000)
Cash and cash equivalents at beginning of period 8,289,000 18,257,000
Cash and cash equivalents at end of period 5,230,000 10,749,000
Supplemental schedule of non-cash investing and financing activities:    
Accretion of redeemable convertible preferred stock to redemption value (1,775,000) 0
Reclassification of warrant liability to additional paid-in capital $ 761,000 $ 0