XML 17 R6.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (24,199) $ (10,616)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8 59
Non-cash lease expense 338 306
Stock-based compensation expense 575 1,164
Non-cash activity related to the sale of future royalties 0 1
Issuance costs associated with warrant liabilities 1,406 0
Change in fair value of warrant liabilities 12,757 0
Changes in operating assets and liabilities:    
Accounts receivable 0 1,034
Prepaid expenses and other assets (126) 825
Accounts payable and accrued liabilities 521 290
Operating lease liability (281) (315)
Total adjustments 15,198 3,364
Net cash used in operating activities (9,001) (7,252)
Cash flows from investing activities:    
Net cash provided by investing activities 0 0
Cash flows from financing activities:    
Proceeds from issuance of common stock, preferred stock, pre-funded warrants, and common warrants, net of issuance costs 18,941 10,000
Payment of liability of future royalties, net of imputed interest 0 (2,463)
Net cash provided by financing activities 18,941 7,537
Net increase in cash and cash equivalents and restricted cash 9,940 285
Cash and cash equivalents and restricted cash, beginning of period 5,605 20,541
Cash and cash equivalents and restricted cash, end of period 15,545 20,826
Supplemental cash flow data:    
Reclassification of January 2026 Series A Common Warrants and January 2026 Series C Common Warrants liability to equity 28,599 0
Conversion of preferred stock to common stock and pre-funded warrants upon shareholder approval, net of issuance costs 2,261 0
Issuance costs in accounts payable and accrued expenses 338 1,157
Cash paid for interest 0 453
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 15,001 20,282
Restricted cash, long-term 544 544
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 15,545 $ 20,826