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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net (loss) income $ (5,042) $ 130
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 549 414
Depreciation 15 15
Change in the fair value of warrant liability (1,377) (5,590)
Change in the fair value of promissory notes (323) 0
Debt issuance costs 334 0
Transaction costs associated with warrants 0 776
Accretion of discount on short-term investment (106) (163)
Changes in operating assets and liabilities:    
Prepaid expenses and other current and non-current assets 403 (537)
Accounts payable (87) 129
Accrued expenses and other liabilities 756 111
Net cash used in operating activities (4,878) (4,715)
Investing activities:    
Purchase of investments (6,634) (17,853)
Maturity of investments 5,400 4,750
Purchases of property and equipment (9) 0
Net cash used in investing activities (1,243) (13,103)
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 8 19,043
Proceeds from issuance of promissory note payable, net 9,766 0
Proceeds from issuance of common stock from ATM Facility, net of issuance costs 968 0
Net cash provided by financing activities 10,742 19,043
Net increase in cash and cash equivalents 4,621 1,225
Cash and cash equivalents at beginning of period 7,935 5,530
Cash and cash equivalents at end of period 12,556 6,755
Supplemental cash flow information:    
Fixed asset purchases in accounts payable 5 0
Financing costs included in accounts payable and accrued expenses $ 100 $ 64