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Subsequent Events | 3 Months Ended
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Mar. 31, 2025
Subsequent Events |
Subsequent Events | Note 15. Subsequent Events Appointment of New President and Chief Executive Officer On March 14, 2025, the Company entered into an Executive Offer of Employment Agreement (as amended by a subsequent Chief Executive Officer Letter Agreement, dated March 18, 2025, the “Employment Agreement”) with Mr. Abizer Gaslightwala pursuant to which Mr. Gaslightwala will serve as the President and Chief Executive Officer of the Company, effective on April 21, 2025. Mr. Gaslightwala will earn a base salary, which includes an annual cash bonus target, and receive share-based payment compensation based on time service and the achievement of specific performance criteria. Funds Received from March 2025 Private Placement In April 2025, the Company received the remaining cash proceeds of $4.0 million f rom the March 2025 Private Placement investors (Note 7). In connection with the cash proceeds received in April 2025, the Company issued Pre-Funded Warrants, Series A Warrants and Series B Warrants to purchase up to 1,650,000 ADSs, 6,057,405 ADSs and 4,354,595 ADSs, respectively.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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