XML 16 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (52,599) $ (17,602)
Adjustments to reconcile net loss to net cash used in operating activities    
Interest on debt instrument 0 23
Stock-based compensation 19,163 1,125
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (4,827) 58
Accounts payable 2,884 1,062
Accrued liabilities (421) 523
Net cash used in operating activities (35,800) (14,811)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock, warrants and pre-funded warrants, net of issuance costs 23,216 100,303
Proceeds from the exercise of warrants 15,298 68
Payments on short-term note 0 (501)
Net cash provided by financing activities 38,514 99,870
Net change in cash and cash equivalents 2,714 85,059
Cash and cash equivalents, beginning of period 94,851 9,792
Cash and cash equivalents, end of period 97,565 94,851
Supplemental Disclosures:    
Cash paid for interest $ 0 $ 23