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 $ (8,878) $ (5,655)
Less: net loss from discontinued operations (885) (1,185)
Net loss from continuing operations (7,993) (4,470)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 564 229
Depreciation 5 3
Amortization of debt discount and debt issuance costs 97 0
Non-cash interest expense 48
Change in fair value of derivative liability (28) 0
Issuance of warrants for services 93 0
Amortization of right-of-use asset 0 349
Write-off offering costs related to unclosed financing arrangements 143 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 78 78
Other assets 0 34
Accounts payable 139 (588)
Accrued expenses 235 (348)
Lease liabilities 0 (369)
Net cash used in operating activities - continuing operations (6,619) (5,082)
Net cash used in operating activities - discontinued operations (380) (643)
Net cash used in operating activities (6,999) (5,725)
Cash flows from investing activities    
Issuance of note receivable (124) 0
Acquisition of property and equipment (38) 0
Acquisition of licensed technology (543) 0
Net cash used in investing activities (705) 0
Cash flows from financing activities    
Issuance costs in connection with senior convertible note (172) 0
Proceeds from issuance of common stock, net of issuance costs 2,337 0
Proceeds from issuance of common stock and warrants, net of issuance costs 0 4,381
Proceeds from issuance of preferred stock and warrants, net of issuance costs 16,209 0
Proceeds from warrant exercises 109 0
Offering costs in advance of sale of common stock (136) (49)
Net cash provided by financing activities 18,347 4,332
Net increase (decrease) in cash and cash equivalents 10,643 (1,393)
Beginning of period 2,002 3,395
End of period 12,645 2,002
Less: cash and cash equivalents included in discontinued operations 0 0
Cash and cash equivalents included in continuing operations 12,645 2,002
Supplemental disclosure on non-cash financing activities    
Convertible note issued in exchange for purchase of Scorpius assets and goodwill 16,253 0
Warrants issued to placement agents as non-cash offering fees 221 70
Non-cash recognition of embedded derivative liability on issuance of convertible notes 320 0
Dividends declared 168 0
Deemed dividends 10 0
Write-off of ROU asset and lease liability 0 290
Issuance of Stock in Exchange for License [Member]    
Supplemental disclosure on non-cash financing activities    
Issuance of equity 1,700 0
Issuance of Stock for Equity Line of Credit [Member]    
Supplemental disclosure on non-cash financing activities    
Issuance of equity 94 0
Issuance of Warrants for Discount Related Party Convertible Note Payable [Member]    
Supplemental disclosure on non-cash financing activities    
Issuance of equity $ 9,404 $ 0