v3.26.1
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (14,545) $ (5,877)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 14 14
Loss on disposal of assets 18
Stock-based compensation expense 3,631 1,134
Change in fair value of warrant liability (3,197) (8,722)
Amortization of operating lease right of use asset 348 259
Amortization of investments in marketable securities (21)
Changes in assets and liabilities:    
Prepaid expense and other current assets (2,203) (2,392)
Accounts payable and accrued liabilities 2,465 (1,466)
Operating lease liability (355) (273)
Net cash used in operating activities (13,845) (17,323)
Cash flows from investing activities    
Purchases of marketable securities (8,148)
Maturities of marketable securities 2,975
Purchases of property and equipment (7) (22)
Realized gain on marketable securities 2
Net cash used in investing activities (5,178) (22)
Cash flows from financing activities    
Gross proceeds from secondary public offering 35,062 12,624
Commissions paid on secondary public offering (1,052) (379)
Payments on financed insurance policies (211)
Proceeds from exercise of warrants 1,496
Net cash provided by financing activities 34,010 13,530
Net (decrease) increase in cash and cash equivalents 14,987 (3,815)
Cash and cash equivalents at the beginning of the period 29,198 26,142
Cash and cash equivalents at the end of the period 44,185 22,327
Supplemental cash flow information    
Initial recognition of right-of-use assets and corresponding lease liabilities 908
Deferred insurance charges included in prepaid expenses and other current assets 15
Cash paid for interest $ 9