v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net (loss) income $ (10,161,000) $ 20,575,000
Adjustment to reconcile net (loss) income to net cash used in operating activities:    
Change in fair value of warrant liability (56,000) (26,659,000)
Depreciation and amortization 88,000 2,000
Stock-based compensation 1,450,000 266,000
Changes in assets and liabilities:    
Receivables 340,000 442,000
Prepaid expenses and other current assets (188,000) 882,000
Other assets 5,000  
Accounts payable 534,000 (3,605,000)
Accrued expenses and other current liabilities (2,092,000) (528,000)
Deferred revenue   (2,791,000)
Net cash used in operating activities (10,080,000) (11,416,000)
Financing activities:    
Proceeds from sale of common stock pursuant to the ATM 2,017,000 3,379,000
Proceeds from sale of common stock pursuant to the April Offering 10,000,000  
Payment of offering costs (730,000) (287,000)
Proceeds from exercised prefunded warrants   16,000
Net cash provided by financing activities 11,287,000 3,108,000
Effect of foreign currency translation on cash (11,000) 51,000
Net increase (decrease) in cash and cash equivalents 1,196,000 (8,257,000)
Cash and cash equivalents at beginning of period 3,820,000 21,338,000
Cash and cash equivalents at end of period 5,016,000 13,081,000
Supplemental disclosure of cash flow information:    
Deferred offering costs in accounts payable $ 147,000 178,000
Reclassification of warrant liability upon exercise of prefunded warrants and amended warrant agreements   $ 15,827,000