Summary of Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Segment Reporting Information, by Segment |
Research and Development Expenses
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
Direct Expenses |
|
|
|
|
|
|
Vascular Trauma |
|
$ |
185 |
|
|
$ |
227 |
|
AV Access |
|
|
1,230 |
|
|
|
1,203 |
|
Total |
|
|
1,415 |
|
|
|
1,430 |
|
Unallocated Expenses |
|
|
|
|
|
|
External services |
|
|
834 |
|
|
|
1,665 |
|
Materials and supplies |
|
|
4,303 |
|
|
|
— |
|
Payroll and personnel expenses |
|
|
9,793 |
|
|
|
9,545 |
|
Other research and development expenses |
|
|
3,117 |
|
|
|
2,778 |
|
Total |
|
|
18,047 |
|
|
|
13,988 |
|
Total research and development expenses |
|
$ |
19,462 |
|
|
$ |
15,418 |
|
Non-cash Operating Expenses
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
Depreciation expense |
|
$ |
1,342 |
|
|
$ |
1,308 |
|
Stock-based compensation expense |
|
|
3,170 |
|
|
|
2,487 |
|
|
| Schedule of Cash and Cash Equivalents |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total of the amounts shown in the condensed consolidated statements of cash flows as of March 31, 2026 and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
Cash and cash equivalents |
|
$ |
48,539 |
|
|
$ |
50,497 |
|
Restricted cash included in prepaid expenses and other current assets |
|
|
144 |
|
|
|
144 |
|
Restricted cash included in long-term assets |
|
|
209 |
|
|
|
209 |
|
Total cash, cash equivalents and restricted cash |
|
$ |
48,892 |
|
|
$ |
50,850 |
|
|
| Schedule of Restricted Cash |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total of the amounts shown in the condensed consolidated statements of cash flows as of March 31, 2026 and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
Cash and cash equivalents |
|
$ |
48,539 |
|
|
$ |
50,497 |
|
Restricted cash included in prepaid expenses and other current assets |
|
|
144 |
|
|
|
144 |
|
Restricted cash included in long-term assets |
|
|
209 |
|
|
|
209 |
|
Total cash, cash equivalents and restricted cash |
|
$ |
48,892 |
|
|
$ |
50,850 |
|
|
| Schedule of Earnings Per Share, Basic and Diluted |
The following table presents the calculation of basic and diluted net (loss) income per share for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
($ in thousands, except share and per share amounts) |
|
2026 |
|
|
2025 |
|
Numerator: |
|
|
|
|
|
|
Net (loss) income |
|
$ |
(17,619 |
) |
|
$ |
39,139 |
|
Less: Undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
(2,374 |
) |
Net (loss) income attributable to common stockholders |
|
$ |
(17,619 |
) |
|
$ |
36,765 |
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
Weighted-average common shares outstanding - basic |
|
|
197,846,786 |
|
|
|
131,496,877 |
|
Dilutive effect of assumed conversion of options to purchase common stock |
|
|
— |
|
|
|
262,425 |
|
Weighted-average common shares outstanding - diluted |
|
|
197,846,786 |
|
|
|
131,759,302 |
|
|
|
|
|
|
|
|
Net (loss) income attributable to common stockholders - basic |
|
$ |
(0.09 |
) |
|
$ |
0.28 |
|
Net (loss) income attributable to common stockholders - diluted |
|
$ |
(0.09 |
) |
|
$ |
0.28 |
|
|
| Schedule of Securities That Could Potentially Dilute Net (Loss) Income Per Share in the Future That Were Not Included in the Computation of Diluted Net (Loss) Income Per Share |
The following potential shares of Common Stock were excluded from the computation of diluted net (loss) income per share for each period because including them would have been anti-dilutive:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Exercise of options under stock plan |
|
|
17,315,516 |
|
|
|
15,250,541 |
|
Vesting of RSUs under stock plan |
|
|
1,985,390 |
|
|
|
— |
|
Warrants to purchase Common Stock |
|
|
44,566,803 |
|
|
|
14,079,314 |
|
Conversion shares issuable under the Loan Agreement |
|
|
2,403,846 |
|
|
|
— |
|
|