v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:      
Net (loss) income   $ (12,948) $ 2,453
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation   39 39
Stock-based compensation expense   3,591 3,311
Loss on issuance of warrants     75,644
Loss on extinguishment of debt   76  
Change in fair value of convertible notes $ 213 8,940 3,485
Change in fair value of warrants (4,941) (9,597) (86,187)
Loss on derivative liability 1,700 1,743  
Change in fair value of contingent consideration (10) (15) (3,472)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets   (169) (245)
Accounts payable   1,755 (2,003)
Accrued expenses and other liabilities   159 (3,018)
Other assets and liabilities   92 (7)
Net cash used in operating activities   (6,334) (10,000)
Cash flows from investing activities:      
Purchases of property and equipment     (4)
Net cash used in investing activities     (4)
Cash flows from financing activities:      
Proceeds from PIPE Financing   4,208  
Proceeds from issuance of at-the-market shares, net   2,551 84
Proceeds from issuance of public offering shares, net     18,346
Net cash provided by financing activities   6,759 18,430
Net increase in cash   425 8,426
Cash and cash equivalents at beginning of period   3,006 13
Cash and cash equivalents at end of period $ 3,431 3,431 8,439
Non-cash financing activities:      
Settlement of convertible notes with common shares   31,489  
Reclassification of derivative liability to equity and warrant liabilities in connection with PIPE financing   16,622  
Modification of cash-settled restricted stock units   $ 1,952  
Cashless warrant exercises     $ 6,864