v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities    
Net loss $ (19,472) $ (21,819)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 3,420 4,141
Depreciation and amortization 136 189
Amortization of right-of-use assets 353 339
Unrealized loss from investments 391 22
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (33) (70)
Accounts payable, accrued expenses and other current liabilities 1 698
Operating lease liabilities (364) (338)
Net cash used in operating activities (15,568) (16,838)
Cash Flows from Investing Activities    
Maturities of investments 61,879 56,939
Purchase of investments (46,018) (55,567)
Purchases of property and equipment (5) (37)
Net cash provided by investing activities 15,856 1,335
Cash Flows from Financing Activities    
Proceeds from the sale of common stock and pre-funded warrants in public offering, net of fees 13,591
Proceeds from sale of common stock in At-the-Market offering, net of fees 782
Proceeds from exercise of warrants 241
Proceeds from exercise of stock options 46
Net cash provided by financing activities 1,023 13,637
Net increase (decrease) in cash and cash equivalents 1,311 (1,866)
Cash and cash equivalents, beginning of year 1,754 3,620
Cash and cash equivalents, end of year $ 3,065 $ 1,754