Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 88,812	$ 45,091
Accounts receivable	1,041	1,995
Contract assets and unbilled receivables (Note 12)	415	1,170
Prepaids and other current assets	2,428	1,788
Total current assets	92,696	50,044
Property and equipment, net	172	199
Restricted cash	100	0
Total assets	92,968	50,243
Current liabilities:
Accounts payable	1,881	3,293
Accrued expenses	5,724	4,488
Total current liabilities	7,605	7,781
Warrant liabilities	62,145	25,985
Total liabilities	105,954	34,895
Commitments and contingencies (Note 4 and Note 11)
Stockholders’ (deficit) equity:
Preferred stock, par value $0.0001; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 0 shares issued and outstanding at June 30, 2026 and December 31, 2025.	0	0
Common stock, par value $0.0001; 250,000,000 and 125,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 82,647,946 and 69,894,507 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively.	8	7
Additional paid-in capital	249,228	203,930
Accumulated deficit	(262,222)	(188,589)
Total stockholders’ (deficit) equity	(12,986)	15,348
Total liabilities, convertible preferred stock and stockholders’ (deficit) equity	$ 92,968	$ 50,243
Common stock authorized (in shares)	250,000,000	125,000,000
Related Party
Current liabilities:
Long-term debt	$ 1,272	$ 1,129
Nonrelated Party
Current liabilities:
Long-term debt	$ 34,932	$ 0

Contract assets and unbilled receivables are recognized when goods or services are transferred to the customer before the customer pays or before reimbursement for payment is billed or due, excluding any amounts presented as an account receivable, for contractual agreements due within one year or the normal operating cycle, if longer.

No definition available.