v3.26.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Collaboration and other revenue $ 6,500 $ 0 $ 6,500 $ 0
Operating expenses:        
Research and development expense (includes related party amounts of $975 for the three and six months ended June 30, 2026 and $0 for the three and six months ended June 30, 2025) 3,342 13,684 7,924 26,039
General and administrative expense 2,931 4,963 7,657 10,222
Total operating expenses 6,273 18,647 15,581 36,261
Income (loss) from operations 227 (18,647) (9,081) (36,261)
Other income (expense):        
Interest income 16 233 53 633
Gain (loss) on warrant liability 220 (297) 2,894 1,583
Gain on PPAs liability 0 0 273 0
Other expense (11) 0 (31) 0
Total other income (expense) 225 (64) 3,189 2,216
Net income (loss) and comprehensive income (loss) $ 452 $ (18,711) $ (5,892) $ (34,045)
Net income (loss) per common share, basic $ 0.27 $ (15.99) $ (3.73) $ (29.16)
Net income (loss) per common share, diluted $ 0.27 $ (15.99) $ (3.73) $ (29.16)
Weighted-average shares of common stock outstanding, basic 1,660,586 1,170,087 1,581,554 1,167,550
Weighted-average shares of common stock outstanding, diluted 1,661,709 1,170,087 1,581,554 1,167,550