v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:          
Net loss $ (8,256) $ (3,600) $ (5,995) $ (3,143) $ (17,054)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation 141 36 235 541 1,965
Depreciation     0 35 113
Amortization of operating lease right-of-use asset     0 129 696
Amortization of debt discount 15 236 245 468 259
Gain on extinguishment of accrued interest (56) 0      
Increase in fair value of derivative liabilities     0 0 50
Imputed interest expense on 2025 bridge loans 0 137 154 0 0
Change in fair value of warrant liabilities 62 0 0 (376) (1,593)
Extinguishment of the 2021 Award     (1,236) 0 0
Write-off of fair value of derivative liabilities     (95) 0 0
Loss on extinguishment of debt     0 25 436
Loss on issuance of common stock     0 0 231
Gain on debt conversion     (154) 0 0
Gain on sales and disposals of property and equipment     (1) (38) (288)
Changes in operating assets and liabilities:          
License and service receivable 0 2,359 2,359 (2,359) 0
Unbilled receivable 0 359 359 (359) 0
Prepaid expenses and other assets (943) (294) (337) 52 467
Accounts payable (467) (475) (2,633) (353) 2,679
Accrued expenses (759) 315 167 285 (1,638)
Accrued interest 21 378 609 509 48
Operating lease liabilities     (4) (131) (712)
Net cash (used in) provided by operating activities (10,242) (549) (6,327) (4,715) (14,341)
Cash flows from investing activities:          
Proceeds from the sale of property and equipment     1 38 309
Net cash provided by investing activities     1 38 309
Cash flows from financing activities:          
Proceeds from the June 2026 public offering, net of issuance costs 60,295 0      
Proceeds from the issuance of common stock, pre-funded warrants, and common stock warrants, net of issuance costs     0 0 1,738
Proceeds from the sale of common stock through ATM program, net of issuance costs     0 0 3,150
Proceeds from issuance of pre-funded warrants in connection with the 2025 PIPE transaction, net issuance costs     9,691 0 0
Proceeds from issuance of pre-funded warrants under the Coastlands and Domicilium Securities Purchase Agreements, net of issuance costs 6,991   0    
Repayment of term loan principal 0 (1,255) (1,255) (610) (9,401)
Proceeds from debt financing obligation 0 2,265 2,865 3,668 0
Exercise Of PreFunded Warrants 91 0      
Proceeds (repayment) from advances from collaboration partners     (300) 381 431
Exercise of stock options 40 0      
Net cash provided by financing activities 67,417 1,010 11,001 3,439 (4,082)
Net increase (decrease) in cash, cash equivalents and restricted cash 57,175 461 4,675 (1,238) (18,114)
Cash, cash equivalents and restricted cash at the beginning of the year 4,791 116 116 1,354 19,468
Cash, cash equivalents and restricted cash at the end of the year 61,966 577 4,791 116 1,354
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheet:          
Cash and cash equivalents 61,960 572 4,785 111 1,134
Restricted cash 6 5 6 5 220
Total cash, cash equivalents and restricted cash 61,966 577 4,791 116 1,354
Supplemental disclosure of cash flow activities:          
Cash paid for interest 0 40 25 139 989
Noncash financing activities:          
Fair value of common stock and pre-funded warrants issued to loan holder     0 865 0
Domicilium debt conversion 1,056 0 $ 8,497 $ 0 $ 0
Issuance costs in accounts payable and accrued expenses $ 1,975 $ 0