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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The following represents assets and liabilities measured at fair value on a recurring basis by the Company (in thousands):
March 31, 2026 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 15,423 |  |  | $ | 15,423 |  |  | $ | — |  |  | $ | — |
Investment in iECURE |  | 744 |  |  | — |  |  | — |  |  | 744 |
Imugene Marketable Securities |  | 1,814 |  |  | 1,814 |  |  | — |  |  | — |
|  | $ | 17,981 |  |  | $ | 17,237 |  |  | $ | — |  |  | $ | 744 |
Liabilities: |  |  |  |  |  |  |  |
Final payment fee |  | $ | 211 |  |  | $ | — |  |  | $ | 211 |  |  | $ | — |
Warrant liability |  | 22,802 |  |  | — |  |  | — |  |  | 22,802 |
|  | $ | 23,013 |  |  | $ | — |  |  | $ | 211 |  |  | $ | 22,802 |
December 31, 2025 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 15,286 |  |  | $ | 15,286 |  |  | $ | — |  |  | $ | — |
Investment in iECURE |  | 744 |  |  | — |  |  | — |  |  | 744 |
Imugene Marketable Securities |  | 4,762 |  |  | 4,762 |  |  | — |  |  | — |
|  | $ | 20,792 |  |  | $ | 20,048 |  |  | $ | — |  |  | $ | 744 |
Liabilities: |  |  |  |  |  |  |  |
Final payment fee |  | $ | 208 |  |  | $ | — |  |  | $ | 208 |  |  | $ | — |
Warrant Liability |  | 15,695 |  |  | — |  |  | — |  |  | 15,695 |
|  | $ | 15,903 |  |  | $ | — |  |  | $ | 208 |  |  | $ | 15,695 |
The following represents a reconciliation of assets measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the three months ended March 31, 2026 (in thousands). The warrant reconciliation is disclosed in Note 11, Warrants:
|  | Investment in iECURE
Balance December 31, 2025 |  | $ | 744 |
(Loss) gain from changes in fair value included in earnings |  | — |
Balance March 31, 2026 |  | $ | 744 |
The carrying amounts of the Company’s accounts receivable, accounts payable, and accrued expenses and other current liabilities, approximate their respective fair values due to their short-term nature. The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis and to minimize the use of unobservable inputs when determining their fair value. The three tiers are defined as follows: Level 1—Observable inputs based on unadjusted quoted prices in active markets for identical assets or liabilities Level 2—Inputs, other than quoted prices in active markets, which are observable either directly or indirectly Level 3—Unobservable inputs for which there is little or no market data, which require the Company to develop its own assumptions. During the three months ended March 31, 2026, Elo Life Systems, Inc. (“Elo”) is no longer classified as an equity method investment. Any subsequent changes to the investment’s fair value will be reported within Note 2, Fair Value Measurements, as applicable. There is no change in the carrying value of the investment for the three months ended March 31, 2026.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/820/tableOfContent + Details
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