v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (32,078) $ (33,948)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense   5
Non-cash operating lease expense 224 202
Stock-based compensation expense 2,693 2,618
Foreign currency transaction loss 6 10
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 67 (169)
Research and development incentive receivable (59) (498)
Accounts payable and accrued expenses 596 2,687
Income tax payable (227)  
Lease liability (227) (201)
Other assets 39 107
Net cash used in operating activities (28,966) (29,187)
Cash flows from financing activities:    
Proceeds from April 2024 Private Placement   39,999
Payment of offering costs   (2,882)
Proceeds from the exercise of stock options 16 29
Principal payments of insurance financing (196)  
Net cash provided by (used in) financing activities (180) 37,146
Effect of exchange rate changes on cash and cash equivalents 27 (123)
Net increase (decrease) in cash and cash equivalents (29,119) 7,836
Cash and cash equivalents at beginning of period 47,249 70,643
Cash and cash equivalents at end of period 18,130 78,479
Supplemental disclosure of non-cash financing activities:    
Remeasurement of right-of-use asset and lease liability   420
Dividend attributable to the down round feature of 2017 warrants   234
Offering costs included in accounts payable   $ 66
Prepayment of insurance through third-party financing $ 440