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 loss $ (9,515,000) $ (11,341,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17,000 35,000
Stock-based compensation 629,000 870,000
Amortization of right-of-use asset 113,000 89,000
Impairment of goodwill 2,044,000
Issuance of common stock to consultant for services 120,000 93,000
Accrued interest expense 22,000
Forward sales contract expense 5,847,000
Issuance of common stock in connection with settlement 69,000
Change in fair value of warrant liabilities (1,000)
Gain on extinguishment of contingent liability (41,000)
Changes in operating assets and liabilities:    
Other receivables 12,000 283,000
Prepaid expenses and other current assets (379,000) (137,000)
Other non-current assets 85,000 1,000
Accounts payable and accrued expenses 365,000 (463,000)
Operating lease liability (115,000) (91,000)
Due from related party 750,000
Due to related party (500,000)
Other liabilities (1,000) 127,000
Net cash used in operating activities (6,416,000) (4,597,000)
Cash flows from investing activities:    
Purchase of property and equipment (5,000)
Cash used in investing activities (5,000)
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
Proceeds received from the issuance of common stock and prefunded warrants 4,929,000
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)
Issuance of common stock under ATM 6,000
Net cash provided by financing activities 9,565,000 7,183,000
Net increase in cash 3,144,000 2,586,000
Cash at beginning of period 1,884,000 1,729,000
Cash at end of period 5,028,000 4,315,000
Cash paid during the period for:    
Interest 4,000
Income taxes 3,000
Supplemental disclosure of non-cash investing and financing activities:    
Offset of related party notes payable principal with related party receivable related to issuance of common stock and prefunded warrants 2,250,000
Reclassification of forward sales contract to equity upon issuance of common stock 5,847,000
Issuance of common stock to Series A preferred stockholders in lieu of cash dividends 8,000 8,000
Remeasurement of ROU asset and lease liability $ 26,000