Summary of Significant Accounting Policies	6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited interim condensed financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP. Certain prior period amounts have been reclassified to conform to the current period presentation of the DIXI Medical product operations as a discontinued operation. These reclassifications had no effect on previously reported net loss, total assets, total liabilities or total stockholders’ equity. Unaudited Interim Financial Information The condensed balance sheet as of December 31, 2025 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited interim condensed financial statements as of June 30, 2026 and for the three and six months ended June 30, 2026 and 2025, have been prepared by the Company, pursuant to the rules and regulations of the SEC for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2025 and the notes thereto, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 3, 2026. In the opinion of management, all normal recurring adjustments necessary for a fair statement have been included. The results for the three and six months ended June 30, 2026 are not necessarily indicative of the results for the year ending December 31, 2026. Use of Estimates The preparation of unaudited interim condensed financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts and disclosures. The Company uses significant judgments when making estimates related to the provision for excess and obsolete inventories. Actual results may ultimately materially differ from these estimates and assumptions. Concentration of Credit Risk, and Other Risks and Uncertainties Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, short-term investments and accounts receivable to the extent of the amounts recorded on the balance sheets. The Company’s accounts receivable, with the exception of $0.2 million, are due from a variety of health care organizations in the United States as of June 30, 2026. For the three and six months ended June 30, 2026 and 2025, there were no customers that represented 10% or more of revenue. As of June 30, 2026 and December 31, 2025, no customer represented 10% or more of the Company’s accounts receivable. Remaining Performance Obligation and Contract Liabilities The Company’s contract liabilities consist of deferred revenue of $0.1 million as of June 30, 2026 and December 31, 2025. Revenue recognized during the three months ended June 30, 2026 and 2025 that was included in the deferred revenue balance at the beginning of the year was $0.0 million and $0.4 million, respectively. Revenue recognized during the six months ended June 30, 2026 and 2025 that was included in the deferred revenue balance at the beginning of the year was $0.1 million and $0.6 million, respectively. As of June 30, 2026, the aggregate amount of the transaction price allocated to the remaining performance obligations that are unsatisfied or partially unsatisfied was $1.6 million, which the Company expects to recognize as revenue by June 2028 pursuant to customer contract terms. Government Programs Through June 30, 2026, the Company received funding under the National Institutes of Health, or NIH, grant which was issued for a five-year period in May 2021, and recognized funding as a reduction in research and development expenses in an amount equal to the qualifying expenses incurred in each period up to the amount awarded by the NIH. The Company received $0.1 million in funding during the three months ended June 30, 2026 and no funding during the three months ended June 30, 2025. The Company received $0.3 million and $0.1 million in funding during the six months ended June 30, 2026 and 2025, respectively. Qualifying expenses incurred by the Company in advance of funding by the NIH are recorded within prepaid expenses and other current assets on the balance sheets. As of June 30, 2026, the Company recorded prepaid expenses and other current assets of $0.1 million related to the fifth year of funding. Discontinued Operations A discontinued operation represents a component of the Company that has been disposed of or abandoned and that represents a strategic shift that has or will have a major effect on the Company’s operations and financial results, in accordance with ASC 205‑20, Presentation of Financial Statements—Discontinued Operations. During the three months ended June 30, 2026, the Company concluded that the abandonment of its DIXI Medical product operations met the criteria to be accounted for as a discontinued operation. Accordingly, the operating results related to this component are presented as discontinued operations in the Company’s condensed statements of operations and comprehensive loss, and the related assets and liabilities are presented separately as current assets of discontinued operations and current liabilities of discontinued operations in the Company’s condensed balance sheets for all periods presented in this Quarterly Report on Form 10‑Q. See Note 11 for additional information. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements The Company adopted Accounting Standards Update, or ASU, No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets during the three months ended March 31, 2026. The adoption of this ASU did not have an impact on the Company’s financial statements and related disclosures. The Company did not adopt any accounting pronouncements during the three months ended June 30, 2026. Recent Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), and in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. ASU 2024-03 is intended to provide more detailed information about specified categories of expenses (including employee compensation, depreciation, and amortization) included in certain expense captions presented on the face of the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and may be applied either prospectively to financial statements issued for reporting periods after its effective date or retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this standard will have on its financial statement disclosures. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, providing authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. The standard introduces a framework for determining when grants should be recognized, distinguishing between asset-related and income-related grants, and allows entities to present grants either as a reduction of related expenses or as a separate income line item. Expanded disclosures about the nature, terms, and conditions of grants are required. This ASU is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its financial statements and related disclosures.

The unaudited interim condensed financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP. Certain prior period amounts have been reclassified to conform to the current period presentation of the DIXI Medical product operations as a discontinued operation. These reclassifications had no effect on previously reported net loss, total assets, total liabilities or total stockholders’ equity.

The condensed balance sheet as of December 31, 2025 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited interim condensed financial statements as of June 30, 2026 and for the three and six months ended June 30, 2026 and 2025, have been prepared by the Company, pursuant to the rules and regulations of the SEC for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2025 and the notes thereto, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 3, 2026. In the opinion of management, all normal recurring adjustments necessary for a fair statement have been included. The results for the three and six months ended June 30, 2026 are not necessarily indicative of the results for the year ending December 31, 2026.

The preparation of unaudited interim condensed financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts and disclosures. The Company uses significant judgments when making estimates related to the provision for excess and obsolete inventories. Actual results may ultimately materially differ from these estimates and assumptions.

The Company’s accounts receivable, with the exception of $0.2 million, are due from a variety of health care organizations in the United States as of June 30, 2026. For the three and six months ended June 30, 2026 and 2025, there were no customers that represented 10% or more of revenue. As of June 30, 2026 and December 31, 2025, no customer represented 10% or more of the Company’s accounts receivable.

The Company’s contract liabilities consist of deferred revenue of $0.1 million as of June 30, 2026 and December 31, 2025. Revenue recognized during the three months ended June 30, 2026 and 2025 that was included in the deferred revenue balance at the beginning of the year was $0.0 million and $0.4 million, respectively. Revenue recognized during the six months ended June 30, 2026 and 2025 that was included in the deferred revenue balance at the beginning of the year was $0.1 million and $0.6 million, respectively.

As of June 30, 2026, the aggregate amount of the transaction price allocated to the remaining performance obligations that are unsatisfied or partially unsatisfied was $1.6 million, which the Company expects to recognize as revenue by June 2028 pursuant to customer contract terms.

development expenses in an amount equal to the qualifying expenses incurred in each period up to the amount awarded by the NIH. The Company received $0.1 million in funding during the three months ended June 30, 2026 and no funding during the three months ended June 30, 2025. The Company received $0.3 million and $0.1 million in funding during the six months ended June 30, 2026 and 2025, respectively.

Qualifying expenses incurred by the Company in advance of funding by the NIH are recorded within prepaid expenses and other current assets on the balance sheets. As of June 30, 2026, the Company recorded prepaid expenses and other current assets of $0.1 million related to the fifth year of funding.

A discontinued operation represents a component of the Company that has been disposed of or abandoned and that represents a strategic shift that has or will have a major effect on the Company’s operations and financial results, in accordance with ASC 205‑20, Presentation of Financial Statements—Discontinued Operations. During the three months ended June 30, 2026, the Company concluded that the abandonment of its DIXI Medical product operations met the criteria to be accounted for as a discontinued operation. Accordingly, the operating results related to this component are presented as discontinued operations in the Company’s condensed statements of operations and comprehensive loss, and the related assets and liabilities are presented separately as current assets of discontinued operations and current liabilities of discontinued operations in the Company’s condensed balance sheets for all periods presented in this Quarterly Report on Form 10‑Q. See Note 11 for additional information.

The Company adopted Accounting Standards Update, or ASU, No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets during the three months ended March 31, 2026. The adoption of this ASU did not have an impact on the Company’s financial statements and related disclosures. The Company did not adopt any accounting pronouncements during the three months ended June 30, 2026.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), and in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. ASU 2024-03 is intended to provide more detailed information about specified categories of expenses (including employee compensation, depreciation, and amortization) included in certain expense captions presented on the face of the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and may be applied either prospectively to financial statements issued for reporting periods after its effective date or retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this standard will have on its financial statement disclosures.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, providing authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. The standard introduces a framework for determining when grants should be recognized, distinguishing between asset-related and income-related grants, and allows entities to present grants either as a reduction of related expenses or as a separate income line item. Expanded disclosures about the nature, terms, and conditions of grants are required. This ASU is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its financial statements and related disclosures.