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SEGMENT REPORTING | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | 14) SEGMENT REPORTING The Company operates within a single reportable operating segment being the research and development of cellular therapies. The Company has identified its president and chief executive officer as its chief operating decision maker (“CODM”), who regularly reviews the Company’s performance and allocates resources based on information reported at the consolidated entity level. The CODM uses consolidated net loss as a measure of profit and loss and assesses Company performance through the achievement of its business strategy goals. The CODM is regularly provided with forecasted expense information that is used to determine the Company’s liquidity needs and cash allocation to execute its business strategy, and he uses cash as a measure of segment assets in managing the Company. The Company operates in the United States, and all of its assets are located in the United States. The table below provides a breakdown of the Company’s significant operating expenses for the three and six months ended June 30, 2025 and 2024 with a reconciliation to net loss for each of those years. The Company’s revenue and its cost of revenues for the three and six months ended June 30, 2024 relate to a contract with a customer, as discussed in Note 3. There was no revenue or cost of revenue for the three and six months ended June 30, 2025. Depreciation and amortization expense was less than $0.1 million for each of the three and six months ended June 30, 2025 and 2024. During the three and six months ended June 30, 2025, the Company recognized $0.6 million and $6.1 million, respectively, in other expense, net, primarily related to the SPA discussed in Note 12. The Company recognized $0.6 million and $1.4 million in other expense, net, during the three and six months ended June 30, 2024, respectively, due to interest expense of $0.8 million and $1.6 million, respectively, offset by income related to a change in fair value of warrant liabilities of approximately $0.1 million for each of the three and six months ended June 30, 2024, as well as income of approximately $0.1 million for the change in fair value of contingent consideration for each of the three and six months ended June 30, 2024. SCHEDULE OF BREAKDOWN OF SIGNIFICANT OPERATING EXPENSES
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue |  | $ | - |  |  | $ | 47 |  |  | $ | - |  |  | $ | 94 |
Cost of revenues |  |  | - |  |  |  | 95 |  |  |  | - |  |  |  | 156 |
Gross profit (loss) |  |  | - |  |  |  | (48 | ) |  |  | - |  |  |  | (62 | )
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development by significant expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
MSA/license fees |  |  | 663 |  |  |  | 812 |  |  |  | 1,300 |  |  |  | 1,625 |
Study fees |  |  | 60 |  |  |  | 88 |  |  |  | 412 |  |  |  | 152 |
Professional fees |  |  | 202 |  |  |  | (15 | ) |  |  | 358 |  |  |  | 88 |
Payroll and related |  |  | 114 |  |  |  | 61 |  |  |  | 211 |  |  |  | 386 |
Other1 |  |  | 97 |  |  |  | 41 |  |  |  | 164 |  |  |  | 194 |
Research and development |  |  | 1,136 |  |  |  | 987 |  |  |  | 2,445 |  |  |  | 2,445 |
General and administrative by significant expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation |  |  | 353 |  |  |  | 408 |  |  |  | 839 |  |  |  | 644 |
Payroll and related2 |  |  | 428 |  |  |  | 335 |  |  |  | 821 |  |  |  | 868 |
Professional fees2 |  |  | 440 |  |  |  | 999 |  |  |  | 826 |  |  |  | 2,283 |
Occupancy expense |  |  | 8 |  |  |  | 1,899 |  |  |  | 15 |  |  |  | 3,800 |
Other2 |  |  | 136 |  |  |  | 255 |  |  |  | 285 |  |  |  | 616 |
General and administrative |  |  | 1,365 |  |  |  | 3,896 |  |  |  | 2,786 |  |  |  | 8,211 |
Total operating expenses |  |  | 2,501 |  |  |  | 4,883 |  |  |  | 5,231 |  |  |  | 10,656 |
Loss from operations |  |  | (2,501 | ) |  |  | (4,931 | ) |  |  | (5,231 | ) |  |  | (10,718 | )
Forward sales contract expense |  |  | (512 | ) |  |  | - |  |  |  | (5,847 | ) |  |  | - |
Change in fair value of warrant liabilities |  |  | - |  |  |  | 136 |  |  |  | 1 |  |  |  | 66 |
Change in fair value of contingent consideration |  |  | - |  |  |  | 66 |  |  |  | - |  |  |  | 66 |
Interest (expense) income, net |  |  | - |  |  |  | (797 | ) |  |  | 5 |  |  |  | (1,583 | )
Other expense, net |  |  | (123 | ) |  |  | - |  |  |  | (258 | ) |  |  | - |
Total other expense, net |  |  | (635 | ) |  |  | (595 | ) |  |  | (6,099 | ) |  |  | (1,451 | )
Loss before income taxes |  |  | (3,136 | ) |  |  | (5,526 | ) |  |  | (11,330 | ) |  |  | (12,169 | )
Provision for income taxes |  |  | (3 | ) |  |  | (3 | ) |  |  | (11 | ) |  |  | (7 | )
Net loss |  | $ | (3,139 | ) |  | $ | (5,529 | ) |  | $ | (11,341 | ) |  | $ | (12,176 | )
|  | June 30, 2025 |  |  | December 31, 2024 |
Cash |  | $ | 4,315 |  |  | $ | 1,729 |
1 |  | Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation.
2 |  | Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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