Balance Sheet

v3.25.3

Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 42,695	$ 26,142
Prepaid expenses and other current assets	7,592	4,806
Total current assets	50,287	30,948
Right of use asset, net	249	645
Property and equipment, net	75	75
Total assets	50,611	31,668
Current liabilities:
Accounts payable	957	1,058
Accrued liabilities	2,762	3,562
Warrant liability	9,147	18,936
Operating lease liability - current	265	564
Total current liabilities	13,131	24,120
Operating lease liability – long term		117
Total liabilities	13,131	24,237
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, value
Common stock, $0.001 par value per share – 400,000,000 shares authorized at December 31, 2024, and September 30, 2025; 11,384,236 and 20,850,363 shares issued and outstanding at December 31, 2024, and September 30, 2025, respectively	21	11
Additional paid-in capital	150,617	108,690
Accumulated deficit	(113,158)	(101,270)
Total stockholders’ equity	37,480	7,431
Total liabilities and stockholders’ equity	50,611	31,668
Series A-2 Prime Preferred Stock
Stockholders’ equity:
Preferred stock, value
Series B-2 Preferred Stock
Stockholders’ equity:
Preferred stock, value

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Source