v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK, SHAREHOLDERS' EQUITY AND MEZZANINE EQUITY - USD ($)
$ in Thousands
Preferred Shares Outstanding
Series B Convertible Preferred Shares
Common Shares Outstanding
ATM
 [2]
Common Shares Outstanding
Capital in Excess of Par Value
Series B Convertible Preferred Shares
 [2]
Capital in Excess of Par Value
ATM
 [2]
Capital in Excess of Par Value
Accumulated Deficit
Series B Convertible Preferred Shares
Series A Convertible Preferred Shares
ATM
Total
Beginning balance at Dec. 31, 2024           $ 397,883 [1] $ (393,871)       $ 4,012
Beginning balance (in shares) at Dec. 31, 2024 [1]     259                
Stock issued upon conversion           3,132 [1]         3,132
Stock issued upon conversion (in shares) [1]     77                
Stock issued in connection with settled indebtedness           270 [1]         270
Stock issued in connection with settled indebtedness (in shares) [1]     10                
Stock issued in connection with licensing arrangement           230 [1]         230
Stock issued in connection with licensing arrangement (in shares) [1]     7                
Stock issued from alternative cashless warrant exercises (in shares) [1]     209                
Conversion option remeasurement           283 [1]         283
Equity-based compensation           26 [1]         26
Net loss             (4,328)       (4,328)
Ending balance at Mar. 31, 2025           401,824 [1] (398,199)       3,625
Ending balance (in shares) at Mar. 31, 2025 [1]     562                
Beginning balance at Dec. 31, 2024           397,883 [1] (393,871)       4,012
Beginning balance (in shares) at Dec. 31, 2024 [1]     259                
Conversion option remeasurement                     283
Net loss                     (7,735)
Ending balance at Jun. 30, 2025           407,236 [1] (401,606)       5,630
Ending balance (in shares) at Jun. 30, 2025 [1]     1,704                
Beginning balance at Mar. 31, 2025           401,824 [1] (398,199)       3,625
Beginning balance (in shares) at Mar. 31, 2025 [1]     562                
Stock issued in connection with settled indebtedness           230 [1]         230
Stock issued in connection with settled indebtedness (in shares) [1]     29                
Stock issued from alternative cashless warrant exercises (in shares) [1]     255                
Stock issued in connection with warrant exercises           5,075 [1]         5,075
Stock issued in connection with warrant exercises (in shares) [1]     1,002                
Equity-based compensation           107 [1]         107
Fractional shares issued for reverse stock split [1]     380                
Net loss             (3,407)       (3,407)
Shares held in abeyance (in shares) [1]     (524)                
Ending balance at Jun. 30, 2025           407,236 [1] (401,606)       5,630
Ending balance (in shares) at Jun. 30, 2025 [1]     1,704                
Beginning balance at Dec. 31, 2025           414,683 [2] (398,925)       15,758
Beginning balance (in shares) at Dec. 31, 2025 [2]     25,709                
Beginning balance at Dec. 31, 2025                 $ 2,734   $ 2,734
Beginning balance (in shares) at Dec. 31, 2025                 9,650   9,650
Stock issued in connection with ATM, net of fees of $136       $ 15,275 $ 64     $ 15,275   $ 64  
Reclassification of 9,650 shares of Mezzanine Equity Series A Convertible Preferred Stock           2,734 [2]         $ 2,734
Reclassification of 9,650 shares of Mezzanine Equity Series A Convertible Preferred Stock (in shares) (9,650)                    
Reclassification of 9,650 shares of Mezzanine Equity Series A Convertible Preferred Stock                 $ (2,734)    
Reclassification of 9,650 shares of Mezzanine Equity Series A Convertible Preferred Stock (in shares)                 (9,650)   (9,650)
Redemption of Preferred Stock (see Note 10)           (9,650) [2]         $ (9,650)
Redemption of Preferred Stock (see Note 10) (in shares) (9,650)               (9,650)    
Number of shares issued 16,000 2,221                  
Stock issued upon conversion (in shares) (230)   4,552 [2]                
Stock issued in connection with RSU vesting (in shares) [2]     15                
Equity-based compensation           298 [2]         $ 298
Equity-based compensation (in shares)     841 [2]               841
Fractional shares issued for reverse stock split [2]     5,348                
Net loss             (3,261)       $ (3,261)
Stock issued upon conversion of preferred stock (in shares)               4,552      
Ending balance at Mar. 31, 2026           423,404 [2] (402,186)       21,218
Ending balance (in shares) at Mar. 31, 2026 15,770   38,686 [2]                
Beginning balance at Dec. 31, 2025           414,683 [2] (398,925)       15,758
Beginning balance (in shares) at Dec. 31, 2025 [2]     25,709                
Beginning balance at Dec. 31, 2025                 $ 2,734   $ 2,734
Beginning balance (in shares) at Dec. 31, 2025                 9,650   9,650
Number of shares issued                     2,221
Net loss                     $ (6,607)
Ending balance at Jun. 30, 2026           424,173 [2] (405,532)       18,641
Ending balance (in shares) at Jun. 30, 2026 8,505   502,839 [2]                
Ending balance at Jun. 30, 2026                    
Ending balance (in shares) at Jun. 30, 2026                     0
Beginning balance at Mar. 31, 2026           423,404 [2] (402,186)       $ 21,218
Beginning balance (in shares) at Mar. 31, 2026 15,770   38,686 [2]                
Stock issued in connection with ATM, net of fees of $136       24       $ 24      
Redemption of Preferred Stock (see Note 10)       $ (2,010)       $ (2,010)      
Redemption of Preferred Stock (see Note 10) (in shares) (2,010)             (2,010)      
Number of shares issued 25                    
Stock issued upon conversion (in shares) (5,280)   203,513 [2]                
Stock issued from alternative cashless warrant exercises (in shares) [2]     7,062                
Stock issued in connection with warrant exercises           2,309 [2]         2,309
Stock issued in connection with warrant exercises (in shares) [2]     171,205                
Equity-based compensation           446 [2]         $ 446
Equity-based compensation (in shares)     60,000 [2]               60,000
Fractional shares issued for reverse stock split [2]     97,503                
Net loss             (3,346)       $ (3,346)
Stock issued upon conversion of preferred stock (in shares)               203,513      
Shares held in abeyance (in shares) [2]     (75,130)                
Ending balance at Jun. 30, 2026           $ 424,173 [2] $ (405,532)       18,641
Ending balance (in shares) at Jun. 30, 2026 8,505   502,839 [2]                
Ending balance at Jun. 30, 2026                    
Ending balance (in shares) at Jun. 30, 2026                     0
[1] Giving retroactive effect to the 1-for-23 reverse stock split on June 20, 2025, 1-for-15 on January 26, 2026 and 1-for-20 on June 12, 2026.
[2] Giving retroactive effect to the 1-for-15 on January 26, 2026 and 1-for-20 on June 12, 2026.