Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Subsequent Events | |
| Subsequent Events | 16. Subsequent Events Between January 1, 2026 and March 31, 2026, the Company received $10.5 million in funding from the sale of common shares, proceeds from warrant exercise, and proceeds of debt arrangements. In January 2026, the Company entered into several two-year convertible notes agreements (the “January Convertible Notes”) with multiple individual investors (the “Investors”) for an aggregate principal amount of $1.1 million. The January Convertible Notes bear interest at 11% per annum and are convertible into common shares at a range between $0.22 per share and $0.25 per share at the Investors’ sole option. On March 3, 2026, the Company entered into two two-year convertible notes agreements (the “U.K. Convertible Notes”) with two investors (the “U.K. Holders”) for an aggregate principal amount of £1.0 million (approximately $1.3 million). The U.K. Convertible Notes bear interest at 11% per annum and are convertible into common shares at $0.21 per share at the U.K. Holders’ sole option. On March 4, 2026, the Company entered into several convertible notes agreements (the “March Convertible Notes”) with various commercial lenders (the “Holders”) for an aggregate principal amount of $5 million. The March Convertible Notes bear interest at 9% per annum with a -month term. The March Convertible Notes are convertible into the Company’s common stock at a conversion price equal to 86% of the daily VWAP during the 10 consecutive trading days immediately after the conversion notice submission date. The amounts of such conversions are limited to 20% of the principal during any rolling 20 trading day period. The conversion restrictions will be lifted upon obtain regulatory approval of the Company’s DCVax®-L treatment for glioblastoma. Between January 1, 2026 and March 31, 2026, the Company issued approximately 12.4 million shares of common stock for proceeds of $3.1 million. Between January 1, 2026 and March 31, 2026, the Company issued approximately 23.3 million shares of common stock to certain lenders in lieu of cash payments of $4.6 million of debt, including $0.8 million of outstanding interest and settled $0.2 million share payable. Between January 1, 2026 and March 31, 2026, the Company converted $3.1 million convertible notes into 15.1 million shares of common stock. On March 16, 2026, the Court granted a motion for approval of the settlement (filed publicly on October 14, 2025) in the Delaware litigation, and entered an Order and Final Judgment. |