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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (17,118) $ (17,305)
Adjustments to reconcile net loss to net cash used in operations    
Depreciation and intangibles amortization 3,038 2,542
Amortization of issuance costs 323
Change in fair value of derivative liability (4,780)
Amortization of operating lease right-of-use assets 373 206
Other recognized losses (gains) 31
Stock-based compensation expense 6,236 2,680
Stock-based compensation expense for services 18 21
Change in operating assets and liabilities    
Accounts receivable (464) 2
Inventory (938) (168)
Accrued interest receivable (4,889)
Prepaid expenses and other current assets (724) (115)
Other non-current assets (2)
Accounts payable (202) (539)
Deferred revenue 244 48
Accrued expenses and other current liabilities 336 20
Operating lease liabilities (406) (185)
Net cash used in operating activities (19,278) (12,439)
Cash flows from investing activities:    
Purchase of property and equipment (5,534) (3,170)
Purchases of available-for-sale debt securities (460,635)
Net cash used in investing activities (466,169) (3,170)
Cash flows from financing activities:    
Proceeds raised from financial liabilities, net of issuance costs 6,995
Payments of financial liabilities, net of interest (2,063)
Series A Preferred stock dividend payments (215)
Repurchase of Series A preferred stock (2,732)
Proceeds from stock issuance related to ATM facility 14,629
Proceeds from exercise of warrants 2,411
Proceeds from issuance of common stock 756,527
Net cash provided by financing activities 758,938 16,614
Net increase in cash and cash equivalents 273,491 1,005
Cash and cash equivalents, beginning of period 78,945 2,059
Cash and cash equivalents, end of period 352,436 3,064
Supplemental disclosures of cash flow information:    
Cash paid for interest 31
Non-cash investing and financing activities:    
Leased assets obtained in exchange for new operating lease liabilities 1,371 777
Fair value of derivative liability reclassed to additional paid-in capital due to exercise of warrants 21,009
Reclassification of Series A preferred stock to mezzanine equity 8,195
Valuation of derivative associated with convertible financial liability 666
Issuance of stock awards expensed in 2024, awarded in 2025 $ 1,506