v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income (loss) $ 2,583 $ (30,458)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation expense 487 500
Impairment of fixed assets 82  
Loss on the disposal of fixed assets 11  
Non-cash stock compensation expense 1,364 2,884
Non-cash lease expense 151 132
Non-cash interest expense 69 59
Change in fair value of warrant liability (20,572) 13,332
Accretion of debt discount 76 156
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,771) 103
Other assets 18 35
Accounts payable 1,513 11
Accrued expenses (1,243) (1,141)
Lease liability (275) (249)
Net cash used in operating activities (17,507) (14,636)
Cash Flows from Investing Activities:    
Purchase of fixed assets (34) (13)
Net cash used in investing activities (34) (13)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock in registered direct offering 15,044  
Proceeds from sale of common stock, net of issuance costs 5,038 3,641
Proceeds from option exercises 492 1,216
Principal payments on term loan (5,000) (4,167)
Net cash provided by financing activities 15,574 690
Net decrease in cash, cash equivalents and restricted cash (1,967) (13,959)
Cash, cash equivalents and restricted cash at beginning of period 102,920 35,679
Cash, cash equivalents and restricted cash at end of period 100,953 21,720
Supplemental cash flow information:    
Cash paid for interest 444 $ 1,041
Supplemental disclosures of non-cash information:    
Issuance costs in accounts payable and accrued expenses 638  
Capital expenditures in accounts payable and accrued expenses $ 13