v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 3,006 $ 13
Prepaid expenses and other current assets 392 1,577
Total current assets 3,398 1,590
Property and equipment, net 162 235
Operating lease right-of-use asset 1,052 1,288
Other assets 948 29
Total assets 5,560 3,142
Current liabilities:    
Accounts payable 942 5,910
Accrued clinical trials expenses 1,426 3,571
Accrued compensation 2,872 1,068
Other accrued expenses 1,657 3,600
Total current liabilities 6,897 14,149
Convertible notes at fair value, including related party amount of $34,600 and $11,689, at December 31, 2025 and 2024, respectively 34,600 11,689
Operating lease liability 893 1,145
Derivative liability 14,879  
Warrant liabilities 3,276 1,187
Contingent consideration liability 42 3,541
Total liabilities 60,587 31,711
Commitments and contingencies (Note 7)
Stockholders' Deficit:    
Class A common stock, $0.0001 par value; 1,040,000,000 and 500,000,000 shares authorized at December 31, 2025 and 2024, and 12,105,902 and 555,511 shares issued and outstanding at December 31, 2025 and 2024, respectively 9 4
Additional paid-in capital 415,783 403,024
Accumulated deficit (470,819) (431,597)
Total stockholders' deficit (55,027) (28,569)
Total liabilities and stockholders' deficit $ 5,560 $ 3,142