v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:        
Net loss $ (13,424) $ (7,419) $ (21,515) $ (8,170)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 353 366 708 770
Non-cash lease expense     321 270
Issuance costs for common stock warrant liabilities (0) (0) 393 (0)
Loss on initial issuance of equity 0 0 4,582 0
Issuance of common stock as payment of outstanding indebtedness     0 8
Change in fair value of common stock warrant liabilities 4,132 515 5,192 (1,995)
Change in fair value of derivative liabilities 3,333 439 2,620 (708)
Stock-based compensation expense     2,352 3,314
Accretion of debt discount     525 488
Non-cash interest expense on notes payable     766 24
Changes in operating assets and liabilities:        
Accounts receivable     (43) 64
Inventory     0 (11)
Prepaid expenses and other current assets     (1,412) (751)
Accounts payable     250 (412)
Accrued liabilities     (1,417) (2,307)
Operating lease obligations     (438) (339)
Net cash used in operating activities     (7,116) (9,755)
Cash flows from investing activities:        
Purchases of property and equipment     (1) 0
Net cash used in investing activities     (1) 0
Cash flows from financing activities:        
Proceeds from issuance of common stock and warrants, net of offering costs     11,745 4,977
Payments of notes payable     (182) (171)
Net cash provided by financing activities     11,563 4,806
Effect of foreign exchange rate changes on cash and restricted cash     36 79
Net increase (decrease) in cash, cash equivalents and restricted cash     4,482 (4,870)
Cash, cash equivalents and restricted cash – beginning of period     5,247 12,213
Cash, cash equivalents and restricted cash – end of period 9,729 7,343 9,729 7,343
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:        
Cash and cash equivalents 9,671 7,285 9,671 7,285
Restricted cash 58 58 58 58
Cash, cash equivalents and restricted cash $ 9,729 $ 7,343 9,729 7,343
Supplemental disclosure of non-cash investing and financing activities:        
Common stock warrant liability recorded upon public stock offering     5,882 0
Supplemental cash flow information:        
Cash paid for interest expense     195 775
Payment of Bonus Liability [Member]        
Supplemental disclosure of non-cash investing and financing activities:        
Stock issued     1,103 0
Payment of Outstanding Indebtedness [Member]        
Supplemental disclosure of non-cash investing and financing activities:        
Stock issued     $ 0 $ 108