v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net loss $ (7,419) $ (6,785) $ (8,170) $ (17,865)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 366 414 770 834
Non-cash lease expense     270 249
Issuance of common stock as payment of outstanding indebtedness     8 0
Fair Value Adjustment of Warrants 515 (1,568) (1,995) (259)
Change in fair value of derivative liabilities 439 0 (708) 0
Change in fair value of Clene Nanomedicine contingent earn-out liability 0 (22) 0 (75)
Change in fair value of Initial Stockholders contingent earn-out liability 0 (3) 0 (10)
Stock-based compensation expense     3,314 3,964
Accretion of debt discount     488 782
Non-cash interest income on marketable securities     0 (153)
Non-cash interest expense on notes payable     24 28
Changes in operating assets and liabilities:        
Accounts receivable     64 143
Inventory     (11) 0
Prepaid expenses and other current assets     (751) (2,519)
Accounts payable     (412) (438)
Accrued liabilities     (2,307) 2,207
Operating lease obligations     (339) (326)
Net cash used in operating activities     (9,755) (13,438)
Cash flows from investing activities:        
Purchases of marketable securities     0 (6,168)
Proceeds from maturities of marketable securities     0 12,500
Purchases of property and equipment     0 (13)
Net cash provided by investing activities     0 6,319
Cash flows from financing activities:        
Proceeds from exercise of stock options     0 36
Proceeds from issuance of common stock, net of offering costs     4,977 0
Payments of notes payable     (171) 0
Payments of finance lease obligations     0 (27)
Net cash provided by financing activities     4,806 9
Effect of foreign exchange rate changes on cash and restricted cash     79 (29)
Net decrease in cash, cash equivalents and restricted cash     (4,870) (7,139)
Cash, cash equivalents and restricted cash – beginning of period     12,213 28,879
Cash, cash equivalents and restricted cash – end of period 7,343 21,740 7,343 21,740
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:        
Cash and cash equivalents 7,285 21,682 7,285 21,682
Restricted cash 58 58 58 58
Cash, cash equivalents and restricted cash $ 7,343 $ 21,740 7,343 21,740
Supplemental disclosure of non-cash investing and financing activities:        
Issuance of common stock as payment of outstanding indebtedness     108 0
Supplemental cash flow information:        
Cash paid for interest expense     $ 775 $ 1,716