v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (30,169,000) $ (7,351,000) $ (30,945,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Fair value of vested stock options   92,000 7,000
Issuance of warrants for VRT waiver     44,000
Loss on initial recognition of Greenshoe Rights liability 28,736,000   28,736,000
Change in fair value of warrant liability 114,000 (11,000) (12,000)
Gain on settlement of debt (998,000)
Gain on extinguishment of debt   (200,000)
Changes in operating assets and liabilities:      
(Increase) Decrease in prepaid expenses   631,000 (225,000)
Increase (Decrease) in accounts payable and accrued expenses   (89,000) (1,623,000)
Net Cash Used in Operating Activities   (6,728,000) (5,216,000)
CASH FLOWS FROM INVESTING ACTIVITIES  
CASH FLOWS FROM FINANCING ACTIVITIES      
Exercise of warrants for cash, net   577,000 1,052,000
Proceeds from issuance of Series L convertible preferred stock and warrants, net   4,300,000 5,441,000
Net Cash Provided by Financing Activities   4,877,000 6,493,000
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash   (1,851,000) 1,277,000
Cash and Cash Equivalents and Restricted Cash at Beginning of Period   6,905,000 4,044,000
Cash and Cash Equivalents and Restricted Cash at End of Period $ 5,321,000 5,054,000 5,321,000
Cash paid during the period for:      
Interest  
Income taxes  
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Fair value of vested warrants issued in Series L conv. preferred stock transaction   3,389,000
Fair value of prefunded warrants issued for ELOC fee   672,000
Fair value of common stock and warrants issued for services   164,000 718,000
Fair value of prefunded warrants and common stock to settle vendor payable   847,000
Conversion of Series L convertible preferred stock into common stock   96,000
Dividend on Series L convertible preferred stock   $ 177,000 $ 85,000