v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 23,024 $ 3,056
Prepaid expenses and other current assets 2,006 3,024
Total current assets 25,030 6,080
Property and equipment, net 482 465
Right of use assets - operating leases 277 377
Other long-term prepaid assets 25 29
TOTAL ASSETS 25,814 6,951
Current liabilities:    
Accounts payable 1,858 1,931
Accrued expenses 1,359 1,207
Warrant liability 0 88
Other current liabilities 545 337
Total current liabilities 3,762 3,563
Warrant liability, non-current 113 283
Convertible Note, net 3,087 2,946
Operating lease liabilities, net of current portion 122 196
TOTAL LIABILITIES 7,084 6,988
Commitments and contingencies (Note 9)
Stockholders’ equity (deficit):    
Series A convertible preferred stock, $0.0001 par value, 5,000 shares authorized; zero and 965 issued and outstanding at June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $5,000 at June 30, 2026 and December 31, 2025, respectively 0 4,940
Common stock, $0.0001 par value, 125000000 and 40,000 shares authorized; 25,400 and 10,767 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 3 1
Additional paid-in capital 95,481 58,536
Accumulated other comprehensive loss 0 (14)
Accumulated deficit (76,754) (63,500)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 18,730 (37)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 25,814 $ 6,951