v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Current assets:      
Cash and cash equivalents $ 2,366   $ 4,256
Restricted cash and cash equivalents     4,502
Investments 6,221   4,356
Grant receivable 1,761   322
Other current assets 1,423   1,734
Total current assets 11,771   15,170
Property and equipment, net 1,409   257
Operating lease right-of-use assets 43   70
Goodwill 372   372
Intangible assets, net 265   333
Other assets 170   123
Total assets 14,030   16,325
Current liabilities:      
Accounts payable and accrued expenses 7,550   5,920
Investor liability pursuant to Letter Agreement     4,502
Operating lease liability 44   56
Deferred grant liability 927   927
Line of credit 0   750
Other liabilities 46   159
Total current liabilities 8,567   12,314
Noncurrent operating lease liability     15
Total liabilities 8,567   12,329
Commitments and contingencies (Note 8)  
Stockholders' equity:      
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 1,952 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively  
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 7,320,345 and 5,557,371 shares issued as of June 30, 2026 and December 31, 2025, respectively; 7,310,008 and 5,547,034 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 7   6
Treasury stock (at cost), 10,337 shares as of June 30, 2026 and December 31, 2025, respectively (500)   (500)
Additional paid-in capital 537,773   520,355
Accumulated deficit (531,817)   (515,865)
Total stockholders' equity 5,463 $ 11,961 3,996
Total liabilities and stockholders' equity $ 14,030   $ 16,325