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v3.26.1

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2026 | Jun. 30, 2025
Operating activities |  |
Net loss | $ (9,871) | $ (10,644)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and amortization | 500 | 511
Non-cash stock-based compensation | 753 | 1,786
Amortization of finance lease right-of-use assets | 170 | 526
Amortization of operating lease right-of-use assets | 287 | 416
Changes in operating assets and liabilities: |  |
Prepaid expenses and other current assets | 248 | 943
Other non-current assets | 44 | 0
Accounts payable | 135 | (10)
Accrued expenses and other current liabilities | (872) | (412)
Short-term operating lease liabilities | 348 | 225
Long-term operating lease liabilities | (434) | (390)
Net cash used in operating activities | (8,692) | (7,049)
Investing activities |  |
Purchases of property and equipment | (242) | 0
Net cash used in investing activities | (242) | 0
Financing activities |  |
Payment of issuance costs from December 2025 issuance of common stock | (77) | 0
Proceeds from the issuance of common stock, net of issuance costs | 0 | 7,352
Principal payments on financing leases | (169) | (459)
Net cash (used in) provided by financing activities | (246) | 9,160
Net (decrease) increase in cash and restricted cash | (9,180) | 2,111
Cash and restricted cash at beginning of period | 27,312 | 11,386
Cash and restricted cash at end of period | 18,132 | 13,497
Cash, end of period | 17,956 | 13,226
Restricted cash, end of period | 176 | 271
Cash and restricted cash, end of period | 18,132 | 13,497
Supplemental disclosure of non-cash financing and investing activities: |  |
Lease modification of operating lease right-of-use assets and liabilities | (349) | (1,287)
Series A & B Warrants |  |
Financing activities |  |
Proceeds from the exercise of Series C warrants, net of issuance costs | 0 | 1,884
Series C Warrants |  |
Financing activities |  |
Proceeds from the exercise of Series C warrants, net of issuance costs | $ 0 | $ 383

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