Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (8,433) $ (15,818)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 29 275
Gain on sale of assets (110)
Stock based compensation expense 806 2,951
Change in operating lease right-of-use assets 329 446
Change in finance lease right-of-use assets 3 4
Amortization of bond premium (16)
Change in fair value of warrant liability 3,161
Changes in operating assets and liabilities:    
Operating lease liabilities (558) (481)
Prepaid expenses and other current assets 524 839
Accounts payable (15) (165)
Accrued expenses and other liabilities (1,238) (410)
Net cash used in operating activities (5,502) (12,375)
Cash flows from investing activities:    
Proceeds from sale of assets 320
Purchase of marketable debt securities (8,437)
Proceeds from maturities of marketable debt securities 17,145
Net cash provided by investing activities 320 8,708
Cash flows from financing activities:    
Gross proceeds from private placement of preferred stock and common stock warrants 3,300
Transaction costs paid pursuant to private placement (29)
Net proceeds from exercise of warrants 64
Net proceeds from public offering of common stock and warrants 9,179
Payments of finance lease liability – principal (2) (4)
Net cash provided by financing activities 3,333 9,175
Net (decrease)/increase in cash, cash equivalents and restricted cash (1,849) 5,508
Cash, cash equivalents and restricted cash at beginning of period 7,534 5,037
Cash, cash equivalents and restricted cash at end of period 5,685 10,545
Supplemental non-cash financing and investing activities:    
Reclassification of warrants from liability to equity 6,103
Unrealized gain on marketable debt securities 221
Exchange of warrants for shares of common stock $ 618