XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.26.1

COMMON STOCK WARRANTS | 6 Months Ended
--- | ---
Jun. 30, 2026
Equity [Abstract] |
COMMON STOCK WARRANTS | STOCKHOLDERS’ EQUITY Activity in equity during the three- and six-month periods ended June 30, 2026 and 2025 was as follows (dollars in thousands):
| Common Stock |  | Additional Paid-In Capital |  | Accumulated Deficit |  | Total |
| Shares |  | Amount |  |  |  |
2026 |  |  |  |  |  |  |  |  |  |
Balances as of December 31, 2025 | 5,223,015 |  |  | $ | 5 |  |  | $ | 152,043 |  |  | $ | (142,480) |  |  | $ | 9,568 |  |
Stock-based compensation | — |  |  | — |  |  | 23 |  |  | — |  |  | 23 |  |
Issuance of common stock, net of transaction costs | 80,411 |  |  | — |  |  | 173 |  |  | — |  |  | 173 |  |
Net loss | — |  |  | — |  |  | — |  |  | (2,063) |  |  | (2,063) |  |
Balances as of March 31, 2026 | 5,303,426 |  |  | 5 |  |  | 152,239 |  |  | (144,543) |  |  | 7,701 |  |
Stock-based compensation | — |  |  | — |  |  | 182 |  |  | — |  |  | 182 |  |
Net loss | — |  |  | — |  |  | — |  |  | (1,832) |  |  | (1,832) |  |
Balances as of June 30, 2026 | 5,303,426 |  |  | $ | 5 |  |  | $ | 152,421 |  |  | $ | (146,375) |  |  | $ | 6,051 |  |
2025 |  |  |  |  |  |  |  |  |  |
Balances as of December 31, 2024 | 1,035,893 |  |  | $ | 1 |  |  | $ | 138,607 |  |  | $ | (136,097) |  |  | $ | 2,511 |  |
Stock-based compensation | — |  |  | — |  |  | 91 |  |  | — |  |  | 91 |  |
Issuance of common stock, net of transaction costs | 365,319 |  | — |  |  | 1,066 |  |  | — |  |  | 1,066 |  |
Issuance of common stock upon exercise of warrants, net of transaction costs | 374,718 |  |  | 1 |  |  | 888 |  |  | — |  |  | 889 |  |
Net loss | — |  |  | — |  |  | — |  |  | (1,665) |  |  | (1,665) |  |
Balances as of March 31, 2025 | 1,775,930 |  |  | 2 |  |  | 140,652 |  |  | (137,762) |  |  | 2,892 |  |
Stock-based compensation | — |  |  | — |  |  | 90 |  |  | — |  |  | 90 |  |
Issuance of common stock, net of transaction costs | 489,341 |  |  | 1 |  |  | 1,639 |  |  | — |  |  | 1,640 |  |
Issuance of common stock upon exercise of warrants, net of transaction costs | 1,498,872 |  | 1 |  |  | 3,970 |  |  | — |  |  | 3,971 |  |
Net loss | — |  |  | — |  |  | — |  |  | (1,616) |  |  | (1,616) |  |
Balances as of June 30, 2025 | 3,764,143 |  |  | $ | 4 |  |  | $ | 146,351 |  |  | $ | (139,378) |  |  | $ | 6,977 |  |
In June 2024, we entered into an at-the-market offering arrangement with a sales agent, pursuant to which we may offer and sell, from time to time at our sole discretion, in transactions that are deemed to be “at-the-market” offerings under the Securities Act of 1933, as amended (the “Securities Act”), shares of our common stock (“ATM Facility”). During the six months ended June 30, 2026, we have sold 80,411 shares of common stock under this ATM Facility for gross proceeds of $182,000, before deducting offering expenses of $9,000. As of June 30, 2026, there is capacity under the ATM Facility of approximately $7.3 million. COMMON STOCK WARRANTS The following table presents the common stock warrant activity:
Issue Date |  | Warrant Type |  | Term Date |  | Exercise Price | Balance December 31, 2025 |  | Issued |  | Exercised |  | Expired |  | Balance June 30, 2026
October 2020 |  | Dealer Manager |  | April 2026 |  | $ | 5,174.40 |  |  | 34 |  | — |  | — |  | (34) |  | —
February 2021 |  | Private Placement Agreement |  | August 2026 |  | 5,318.40 |  |  | 540 |  | — |  | — |  | — |  | 540
February 2021 |  | Dealer Manager |  | August 2026 |  | 6,835.40 |  |  | 136 |  | — |  | — |  | — |  | 136
March 2021 |  | Dealer Manager |  | March 2026 |  | 6,000.00 |  |  | 60 |  | — |  | — |  | (60) |  | —
November 2022 |  | Dealer Manager |  | November 2027 |  | 525.00 |  |  | 892 |  | — |  | — |  | — |  | 892
April 2023 |  | Series C |  | October 2028 |  | 194.40 |  |  | 7,142 |  | — |  | — |  | — |  | 7,142
April 2023 |  | Dealer Manager |  | April 2028 |  | 262.50 |  |  | 534 |  | — |  | — |  | — |  | 534
August 2023 |  | Dealer Manager |  | August 2028 |  | 108.04 |  |  | 1,222 |  | — |  | — |  | — |  | 1,222
November 2023 |  | Series D |  | November 2028 |  | 13.00 |  |  | 151,026 |  | — |  | — |  | — |  | 151,026
November 2023 |  | Dealer Manager |  | November 2028 |  | 16.25 |  |  | 28,844 |  | — |  | — |  | — |  | 28,844
August 2024 |  | Series F-1 |  | August 2029 |  | 4.35 |  |  | 319,434 |  | — |  | — |  | — |  | 319,434
August 2024 |  | Series F-2 |  | February 2026 |  | 4.35 |  |  | 316,852 |  | — |  | — |  | (316,852) |  | —
August 2024 |  | Dealer Manager |  | August 2029 |  | 5.75 |  |  | 25,275 |  | — |  | — |  | — |  | 25,275
March 2025 |  | Dealer Manager |  | September 2026 |  | 3.625 |  |  | 18,736 |  | — |  | — |  | — |  | 18,736
July 2025 |  | Dealer Manager |  | October 2026 |  | 3.781 |  |  | 72,944 |  | — |  | — |  | — |  | 72,944
August 2025 |  | Series I |  | November 2026 |  | 5.25 |  |  | 2,188,308 |  | — |  | — |  | — |  | 2,188,308
August 2025 |  | Dealer Manager |  | November 2026 |  | 5.4219 |  |  | 72,944 |  | — |  | — |  | — |  | 72,944
|  |  |  |  |  |  |  | 3,204,923 |  | — |  | — |  | (316,946) |  | 2,887,977
| Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (years)
Outstanding as of December 31, 2025 | 3,204,923 |  |  | $ | 7.50 |  |  | 1.2
Issued | — |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |
Expired | (316,946) |  |  | 6.04 |  |  | — |
Outstanding as of June 30, 2026 | 2,887,977 |  |  | 7.66 |  |  | 0.9

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-4 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 1.D.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479921/505-20-S99-1 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-3 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 1.B.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480148/855-10-S99-1 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-3 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 32: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 35: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration