v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 747 $ 1,509
Prepaid R&D services- related party (see Note 8 and Note 13) 649 881
Prepaid R&D services 387 166
Prepaid expenses and other current assets 1,155 1,823
Total current assets 2,938 4,379
Equity method investments 122,846
Operating lease right-of-use assets, net 64 142
Equipment and clinical assets, net 158 269
Prepaid expenses and other long-term assets 702 860
Total assets 126,708 5,650
Current liabilities    
Accounts payable 3,725 1,913
Investment payable 8,000
Accrued expenses and other current liabilities 802 538
Accrued litigation liability 9,642 9,594
Operating lease liability, current portion 45 115
Total current liabilities 23,351 12,820
Derivative warrant liability 264
Total liabilities 23,615 12,820
Commitments and contingencies (see Note 15)
Stockholders’ equity (deficit)    
Common stock, par value $0.0001; 250,000,000 shares authorized at June 30, 2026 and December 31, 2025, 631,080 shares and 9,214 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
Preferred stock, par value $0.0001; 1,000,000 shares authorized at June 30, 2026 and December 31, 2025; nil shares issued and outstanding at June 30, 2026 and December 31, 2025
Additional paid-in capital 179,964 61,171
Accumulated deficit (77,029) (68,325)
Accumulated other comprehensive income (loss) 158 (16)
Total stockholders’ equity (deficit) 103,093 (7,170)
Total liabilities and stockholders’ equity (deficit) 126,708 5,650
Nonrelated Party [Member]    
Current liabilities    
Convertible promissory notes payable at fair value 1,137 660
Related Party [Member]    
Current liabilities    
Convertible promissory notes payable at fair value
Notes payable