v3.26.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (8,502) $ (15,214)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21 7
Equity-based compensation 649 1,207
Amortization of right-of-use assets 102 99
Gain on lease modification (21)  
Loss on disposal of property and equipment 5  
Changes in operating assets and liabilities:    
Grant receivables 6,972 (3,599)
Prepaid expenses and other assets 482 653
Accounts payable and accrued expenses (8,608) 539
Deferred grant income and other liabilities 410 916
Operating lease liabilities (105) (108)
Net cash used in operating activities (8,595) (15,500)
Cash flows from investing activities:    
Payments for property and equipment (20)  
Net cash used in investing activities (20)  
Cash flows from financing activities:    
Proceeds from the exercise of common stock options 44  
Payment of employee withholding taxes on vested restricted stock units (175) (51)
Payments on loan payable (229) (238)
Net cash provided by financing activities 6,377 2,048
Net decrease in cash, cash equivalents and restricted cash equivalents (2,238) (13,452)
Cash, cash equivalents, and restricted cash equivalents    
Cash, cash equivalents, and restricted cash equivalents - beginning of period 37,000 25,009
Cash, cash equivalents, and restricted cash equivalents - end of period 34,762 11,557
Supplemental disclosures of non-cash financing activities:    
Operating lease assets and liabilities recognized during the period 306  
At The Market Offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock under the ATM sales agreements, net of commissions and allocated fees $ 6,737 $ 2,337