v3.26.3
Unaudited Condensed 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
Cash flows from operating activities        
Net loss $ (5,892) $ (34,045) $ (59,607) $ (69,776)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 120 298 373 925
Loss on disposal of property and equipment     185
Change in fair value of warrant liability (2,894) (1,583) (295) (807)
Change in fair value of PPAs liability     406
Commitment fee under SEPA     282
Financing costs related to PPAs     742
Change in fair value of PPAs (273)    
Stock-based compensation 1,575 3,022 5,434 8,921
Changes in operating assets and liabilities:        
Accounts receivable (2,000)    
Prepaid expenses and other assets 181 (383) 1,128 2,903
Accounts payable and accrued expenses 3,087 2,535 2,804 (13,461)
Accounts payable and accrued expenses - related parties 300    
Right-of-use assets and lease liabilities, net 110 (252) 344 (641)
Net cash used in operating activities (5,686) (30,408) (48,204) (71,936)
Cash flows from financing activities        
Proceeds from issuance of common stock under SEPA 413    
Payment of financing costs related to issuance of common stock, PPAs and SEPA (289) (444) (897)
Proceeds from issuance of common stock and warrants, net of issuance costs     9,215
Proceeds from issuance of common stock under Employee Stock Purchase Plan 3 47 100 342
Payments for taxes related to net settlement of equity awards (15) (34) (52) (46)
Proceeds from PPAs     7,125
Net cash provided by financing activities 112 (431) 6,276 9,511
Net decrease in cash and cash equivalents (5,574) (30,839) (41,928) (62,425)
Cash and cash equivalents, beginning of period 7,118 49,046 49,046 111,471
Cash and cash equivalents, end of period 1,544 18,207 7,118 49,046
Supplemental disclosure of non-cash investing and financing activities        
Fair value of common stock issued in satisfaction of PPAs liability 3,869 3,389
Increase in right-of-use assets and operating lease liabilities resulting from contract modification $ 5,999 5,999
PPAs related costs included in accounts payable and accrued expense     289
Equity issuance costs included in accounts payable and accrued expense     $ 445