v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (8,491) $ (8,423) $ (18,080) $ (15,141)
Adjustments to reconcile net loss to net cash used in operating activities        
Stock-based compensation     1,537 1,359
Depreciation     8 8
Changes in operating assets and liabilities:        
Prepaid materials     68 (1,377)
Prepaid expenses and other current assets     (665) 90
Other assets     711 (10)
Accounts payable     (2,317) 1,331
Accrued expenses     73 1,281
Payroll liabilities     (586) (808)
Other current liabilities     26 49
Net cash used in operating activities     (19,225) (13,218)
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases of property and equipment     0 (9)
Net cash used in investing activities     0 (9)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from issuance of common stock and warrants     4,500 0
Offering costs for common stock and warrant issuance     (501) 0
Proceeds from issuance of common stock under the ATM program, net of issuance costs     21 0
Net cash provided by financing activities     4,020 0
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     (15,205) (13,227)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE     41,409 71,194
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 26,204 57,967 26,204 57,967
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH        
Cash and cash equivalents 26,094 57,857 26,094 57,857
Restricted cash 110 110 110 110
Total cash, cash equivalents and restricted cash $ 26,204 $ 57,967 $ 26,204 $ 57,967