v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net Income (Loss) $ (9,117,000) $ (9,624,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of SEPA put option liability (54,000) 10,000
Change in fair value of convertible debt 0 117,000
Non-cash original discount on convertible debt 0 625,000
Stock-based compensation expense 1,401,000 1,280,000
Gain on termination of operating lease (32,000) 0
Amortization of operating lease right-of-use asset 266,000 254,000
Depreciation expense 132,000 113,000
Changes in operating assets and liabilities:    
Research and development supplies and other current assets (1,807,000) 0
Prepaid expenses 927,000 (1,108,000)
Accounts payable and accrued expenses 876,000 (646,000)
Other current assets 0 18,000
Other assets 0 (48,000)
Operating lease liability (247,000) (250,000)
Net cash used in operating activities (7,655,000) (9,259,000)
Cash flows from investing activities    
Purchases of property and equipment 0 (256,000)
Net cash used in investing activities 0 (256,000)
Cash flows from financing activities    
Proceeds from short-term convertible debt 327,000 4,375,000
Repayments of short-term borrowing (203,000) 0
Proceeds from issuance of pre-funded warrants, net of direct costs 2,584,000 0
Proceeds from issuance of common stock, net of direct costs 3,568,000 0
Net cash provided by financing activities 6,276,000 4,375,000
Net decrease in cash and cash equivalents (1,379,000) (5,140,000)
Cash and cash equivalents, beginning of period 4,894,000 13,985,000
Cash and cash equivalents, end of period 3,515,000 8,845,000
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 7,000 5,000
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use asset obtained in exchange for operating lease liability 0 1,575,000
Issuance of Voting Common Stock for commitment fee payable 0 250,000
Conversion of Short-term convertible debt into shares of common stock $ 0 $ 6,219,000