v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (12,213) $ (12,323)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 0 1
Net amortization of discount on notes payable 1,075 0
Non-cash warrant issuance cost 423 0
Changes in fair value of warrant liabilities 8 0
Accretion of discount on investments (12) 0
Stock-based compensation expense 320 520
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 305 (115)
Other assets (1,708) (2,344)
Accounts payable 400 5,117
Accrued expenses and other current liabilities (662) (3,172)
Other long-term liabilities 0 (277)
Net cash used in operating activities (12,064) (12,593)
Cash flows from investing activities:    
Purchases of short-term investments (32,094) 0
Purchases of long-term investments (2,979) 0
Net cash used in investing activities (35,073) 0
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs 53,544 367
Proceeds from notes payable 4,300 0
Repayment of notes payable (5,375) 0
Proceeds from issuance of common stock in connection with stock option exercises 0 1
Proceeds from issuance of common stock in connection with warrant exercises 0 1,595
Proceeds from issuance of warrants, net of offering costs 0 481
Proceeds from warrant exchanges, net of offering costs 0 2,984
Proceeds from warrant exercises with common stock subscribed 0 22
Net cash provided by financing activities 52,469 5,450
Effect of exchange rate changes on cash and cash equivalents (5) 0
Net increase (decrease) in cash and cash equivalents 5,327 (7,143)
Cash and cash equivalents at beginning of period 3,215 12,865
Cash and cash equivalents at end of period 8,542 5,722
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized loss on investments (12) (33)
Foreign currency translation adjustments 5 7
Initial recognition of warrant liability 3,693 0
Allocate net value of warrants issued in connection with the May 2026 Offering (3,263) 0
Warrant issuance cost recognized as expense $ (423) $ 0