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Condensed Consolidated Statements of Cash Flows
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Cash flows from operating activities    
Net loss $ (11,209) $ (11,827)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 53 82
Amortization of right-of-use assets, operating leases 225 208
Non-cash interest expense 107 0
Amortization of debt discount 35 0
Change in fair value of warrant liabilities 507 1,278
Stock-based compensation expense 517 324
Loss on issuance of warrants 0 578
Gain on disposal of property and equipment, net 0 (3)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (4) 1,085
Other long-term prepaid assets 0 160
Accounts payable 2,999 (3,264)
Accrued expenses and other current liabilities (2,645) (432)
Deferred research obligation (489) (67)
Operating lease liabilities (215) (244)
Net cash used in operating activities (10,119) (12,122)
Cash flows from investing activities    
Proceeds from sale of property and equipment 0 3
Net cash provided by investing activities 0 3
Cash flows from financing activities    
Proceeds from exercise of common warrants 343 0
Proceeds from issuance of common stock and common warrants from the January Offering 9,143 0
Proceeds from issuance of common warrants 0 5,962
Proceeds from issuance of common stock 835 5,062
Proceeds from the exercise of stock options 7 0
Net cash provided by financing activities 10,328 11,024
Effect of foreign currency on cash 31 0
Net increase (decrease) in cash and cash equivalents 240 (1,095)
Cash, cash equivalents and restricted cash at the beginning of the period 19,492 14,301
Cash, cash equivalents and restricted cash at the end of the period 19,732 13,206
Components of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 18,351 11,853
Restricted cash 1,381 1,353
Total cash, cash equivalents and restricted cash 19,732 13,206
Supplemental disclosure of noncash investing and financing activities:    
Fair value of pre-funded warrants at issuance date 0 6,579
Fair value of common warrants upon settlement 373 0
Conversion of related-party senior note payable into equity 20,034 0
Non-cash vesting of restricted common stock $ 0 $ 11