v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 97 $ 1,509
Prepaid R&D services- related party (see Note 8 and Note 13) 765 881
Prepaid R&D services 104 166
Prepaid expenses and other current assets 2,086 1,823
Total current assets 3,052 4,379
Equity method investments 122,932
Operating lease right-of-use assets, net 109 142
Equipment and clinical assets, net 213 269
Prepaid expenses and other long-term assets 781 860
Total assets 127,087 5,650
Current liabilities    
Accounts payable 2,416 1,913
Investment payable 8,000
Accrued expenses and other current liabilities 786 538
Accrued litigation liability 9,582 9,594
Operating lease liability, current portion 79 115
Total current liabilities 21,636 12,820
Total liabilities 21,636 12,820
Commitments and contingencies (see Note 15)
Stockholders’ equity (deficit)    
Common stock, par value $0.0001; 250,000,000 shares authorized at March 31, 2026 and December 31, 2025, respectively, 4,722,457 shares and 92,140 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively
Preferred stock, par value $0.0001; 1,000,000 shares authorized at March 31, 2026 and December 31, 2025, respectively; nil shares issued and outstanding at March 31, 2026 and December 31, 2025
Additional paid-in capital 177,608 61,171
Accumulated deficit (72,388) (68,325)
Accumulated other comprehensive income (loss) 231 (16)
Total stockholders’ equity (deficit) 105,451 (7,170)
Total liabilities and stockholders’ equity (deficit) 127,087 5,650
Nonrelated Party [Member]    
Current liabilities    
Convertible promissory notes payable at fair value 773 660
Related Party [Member]    
Current liabilities    
Convertible promissory notes payable at fair value
Notes payable