Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (10,345) $ (24,251)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 32 365
Net gain on disposal of assets (37)
Stock-based compensation expense 1,023 3,195
Loss on operating lease right-of-use assets modification 241
Amortization of operating lease right-of-use assets 420 602
Amortization of finance lease right-of-use assets 4 5
Amortization of bond premium (17)
Change in fair value of warrant liability 3,161
Impairment charges of goodwill and other intangible assets 2,093
Impairment charges of other assets 2,338
Income tax benefit (84)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 665 587
Accounts payable 220 (419)
Accrued expenses and other liabilities (1,353) 356
Operating lease liabilities (1,042) (655)
Net cash used in operating activities (7,011) (15,885)
Cash flows from investing activities:    
Proceeds from sale of assets 335
Purchases of marketable debt securities (8,437)
Proceeds from sales of marketable debt securities 17,645
Net cash provided by investing activities 335 9,208
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 129
Net proceeds from public offerings of common stock and warrants 9,179
Payments of capital lease liability – principal (9) (5)
Net cash provided by financing activities 3,391 9,174
Net (decrease)/increase in cash, cash equivalents and restricted cash (3,285) 2,497
Cash, cash equivalents and restricted cash at beginning of period 7,534 5,037
Cash, cash equivalents and restricted cash at end of period 4,249 7,534
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
Reduction of right-of-use assets and lease liabilities on lease termination $ 488