v3.26.1
Condensed Consolidated Statements of Temporary Equity and Stockholders’ (Deficit) Equity (Unaudited) - USD ($)
$ in Thousands
Temporary Equity Series A Convertible Preferred Stock
Common Stock
Additional Paid In Capital
Accumulated Deficit
Total
Balance at Dec. 31, 2024   $ 86,063 $ (81,995) $ 4,068
Balance (in Shares) at Dec. 31, 2024   258,826      
Equity-based compensation - stock option expense   93 93
Net proceeds from sale of common stock   51 51
Net proceeds from sale of common stock (in Shares)   3,000      
Net loss   (2,229) (2,229)
Equity-based compensation - stock issuances to a vendor and vesting to employee   143 143
Equity-based compensation - stock issuances to a vendor and vesting to employee (in Shares)   4,000      
Balance at Mar. 31, 2025   86,350 (84,224) 2,126
Balance (in Shares) at Mar. 31, 2025   265,826      
Balance at Dec. 31, 2024   86,063 (81,995) 4,068
Balance (in Shares) at Dec. 31, 2024   258,826      
Net loss         (4,188)
Balance at Jun. 30, 2025   91,772 (86,182) 5,590
Balance (in Shares) at Jun. 30, 2025   861,229      
Balance at Mar. 31, 2025   86,350 (84,224) 2,126
Balance (in Shares) at Mar. 31, 2025   265,826      
Equity-based compensation - stock option expense   75 75
Net proceeds from sale of common stock   3,076 3,076
Net proceeds from sale of common stock (in Shares)   216,314      
Net loss   (1,958) (1,958)
Equity-based compensation - stock issuances to a vendor and vesting to employee   49 49
Exercise of warrants, net of expenses   2,222 2,222
Exercise of warrants, net of expenses (in Shares)   379,089      
Balance at Jun. 30, 2025   91,772 (86,182) 5,590
Balance (in Shares) at Jun. 30, 2025   861,229      
Balance at Dec. 31, 2025 $ 1 95,248 (89,972) 5,277
Balance (in Shares) at Dec. 31, 2025 1,111,010      
Equity-based compensation - stock option expense 86 86
Shares issued from abeyance
Shares issued from abeyance (in shares)   216,960      
Net proceeds from sale of common stock 315 315
Net proceeds from sale of common stock (in Shares)   181,230      
Net loss (2,023) (2,023)
Equity-based compensation – restricted stock 62 62
Equity-based compensation – restricted stock (in Shares)        
Balance at Mar. 31, 2026   $ 1 95,711 (91,995) 3,717
Balance (in Shares) at Mar. 31, 2026 1,509,200      
Balance at Dec. 31, 2025 $ 1 95,248 (89,972) 5,277
Balance (in Shares) at Dec. 31, 2025 1,111,010      
Net loss         (54,012)
Issuance of common stock in connection with the acquisition of Azora Therapeutics $ 1 1,305 1,306
Issuance of common stock in connection with the acquisition of Azora Therapeutics (in Shares)   437,421      
Balance at Jun. 30, 2026 $ 38,533 $ 3 105,604 (143,984) (38,377)
Balance (in Shares) at Jun. 30, 2026 12,930.617 2,625,890      
Balance at Mar. 31, 2026   $ 1 95,711 (91,995) 3,717
Balance (in Shares) at Mar. 31, 2026 1,509,200      
Equity-based compensation - stock option expense 134 134
Equity-based compensation - stock issuances to vendors   3 3
Net proceeds from sale of common stock $ 1 849 850
Net proceeds from sale of common stock (in Shares)   544,454      
Net loss   (51,989) (51,989)
Equity-based compensation – restricted stock        
Equity-based compensation – restricted stock (in Shares)   134,815      
Issuance of pre-funded warrants in connection with the private placement transaction 5,938 5,938
Issuance of Series A convertible preferred stock in connection with the acquisition of Azora Therapeutics $ 38,533
Issuance of Series A convertible preferred stock in connection with the acquisition of Azora Therapeutics (in Shares) 12,930.617      
Fair value of assumed options that relates to the pre-combination service period   1,664 1,664
Balance at Jun. 30, 2026 $ 38,533 $ 3 $ 105,604 $ (143,984) $ (38,377)
Balance (in Shares) at Jun. 30, 2026 12,930.617 2,625,890