v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (5,506,000) $ (8,202,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,000 18,000
Stock-based compensation 309,000 502,000
Amortization of right-of-use asset 78,000 51,000
Impairment of goodwill 2,044,000
Issuance of common stock to consultant for services 96,000 45,000
Accrued interest expense 6,000
Forward sales contract expense 5,335,000
Change in fair value of warrant liabilities (1,000)
Changes in operating assets and liabilities:    
Other receivables 281,000
Prepaid expenses and other current assets (320,000) 49,000
Other non-current assets 1,000
Accounts payable and accrued expenses 759,000 (98,000)
Operating lease liability (75,000) (52,000)
Due from related party 750,000
Due to related party (500,000)
Other liabilities 93,000
Net cash used in operating activities (2,264,000) (2,065,000)
Cash flows from investing activities:    
Purchase of property and equipment (2,000)
Net cash used in investing activities (2,000)
Cash flows from financing activities:    
Gross proceeds received from the sale of common stock, prefunded warrants and Milestone Warrants in public offering 10,480,000
Fees related to public offering (939,000)
Proceeds received from notes payable 2,250,000
Gross proceeds received from the exercise of prefunded warrants 20,000 4,000
Fee related to the exercise of prefunded warrants from public offering (2,000)
Net cash provided by financing activities 9,559,000 2,254,000
Net increase in cash 7,293,000 189,000
Cash at beginning of period 1,884,000 1,729,000
Cash at end of period 9,177,000 1,918,000
Supplemental disclosure of non-cash investing and financing activities:    
Remeasurment of ROU asset and lease liability $ 26,000