v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from Operating activities    
Net loss $ (159,843,000) $ (32,423,000)
Income from discontinued operations (17,542,000) 0
Adjustments to reconcile net loss to cash used in operating activities:    
Foreign exchange transaction loss from intercompany 0 42,000
Non cash in-process research and development 2,560,000 0
Depreciation and amortization 1,731,000 471,000
Loss on disposal of property and equipment 0 2,000
Non cash interest income on note receivable (2,005,000) 0
Stock-based compensation 16,024,000 8,561,000
Convertible note payable for non-cash issuance costs 0 622,000
Shares issued for non-cash consultant expense 673,000 1,314,000
Change in fair value of share liability 121,000 132,000
Change in fair value of convertible notes payable 123,719,000 6,875,000
Change in fair value of investments (580,000) 0
Change in right-of-use lease assets 617,000 473,000
Non-cash lease income (69,000) 0
Change in deferred taxes (12,000) (143,000)
Changes in operating assets and liabilities, net of acquisition amounts:    
Accounts receivable 252,000 (506,000)
Receivable from noncontrolling interest 28,000 0
Inventories (315,000) (68,000)
Prepaid expenses and other current assets (888,000) (1,357,000)
Other noncurrent assets 1,220,000 (9,000)
Accounts payable 1,130,000 (877,000)
Accrued expenses 1,802,000 910,000
Operating lease liability (620,000) (427,000)
Other current liabilities (1,914,000) (288,000)
Net cash used in operating activities - continuing operations (33,911,000) (16,696,000)
Cash used in operating activities - discontinued operations (3,869,000) 0
Net cash used in operating activities (37,780,000) (16,696,000)
Cash flows from investing activities    
Purchases of property and equipment (9,654,000) (9,675,000)
Purchases of short-term investments (47,745,000) 0
Cash advance paid for property and equipment 0 (1,697,000)
Purchase of equity investments (5,000,000) 0
Principal collections from lease receivable 27,000 0
Cash advance in exchanges for note receivable (30,000,000) 0
Cash received for acquisition of businesses, net of cash paid (4,460,000) 0
Net cash used in investing activities - continuing operations (96,832,000) (11,372,000)
Cash used in investing activities - discontinued operations (13,962,000) 0
Net cash used in investing activities (110,794,000) (11,372,000)
Cash flows from financing activities    
Proceeds from issuance of common stock 320,304,000 53,091,000
Payment of common stock issuance costs (17,965,000) (3,648,000)
Payment of deferred issuance costs (169,000) 0
Proceeds from exercise of warrants 4,915,000 5,838,000
Proceeds from exercise of options 6,000 0
Proceeds from noncontrolling interest in VIE 0 920,000
Proceeds from collection of receivable from noncontrolling interest in VIE 0 707,000
Distribution to noncontrolling interest in VIE (402,000) (98,000)
Proceeds from issuance of convertible notes payable 42,171,000 25,936,000
Proceeds from issuance of debt 575,000 501,000
Payments of principal portion of debt (1,158,000) (612,000)
Payment of principal portion of finance leases (359,000) (101,000)
Net cash provided by financing activities - continuing operations 347,918,000 82,534,000
Cash provided by financing activities - discontinued operations 23,682,000 0
Net cash provided by financing activities 371,600,000 82,534,000
Effect of exchange rate changes on cash and cash equivalents 647,000 (484,000)
Effect of disposal of discontinued operations on cash and cash equivalents (5,991,000) 0
Net change in cash and cash equivalents 217,682,000 53,982,000
Cash and cash equivalents - beginning of year 61,890,000 7,908,000
Cash and cash equivalents - end of year 279,572,000 61,890,000
Supplemental cash flow information:    
Cash paid for taxes 79,000 0
Supplemental disclosures of non-cash investing and financing activities:    
Derecognition of asset as a result of sales-type lease 370,000 0
Lease receivable 393,000 0
Purchase of property and equipment included in accounts payable 194,000 795,000
Right-of-use assets obtained in exchange for operating lease liability 851,000 364,000
Right-of-use assets obtained in exchange for financing lease liability 312,000 539,000
Seller financed portion of investment in East Coast Nuclear Pharmacy 500,000 0
Unpaid financing fees 1,613,000 0
Deemed dividend on inducement warrant 0 2,780,000
Purchase of property and equipment with bank loans 0 2,021,000
Board fees settled with common stock 0 240,000
Commission fee settled with common stock warrant $ 0 $ 766,000