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

Balance Sheets

v3.26.1
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 29,198 $ 26,142
Prepaid expenses and other current assets 7,692 4,806
Marketable securities 12,071
Total current assets 48,961 30,948
Right of use asset, net 108 645
Property and equipment, net 66 75
Total assets 49,135 31,668
Current liabilities:    
Accounts payable 383 1,058
Accrued liabilities 1,523 3,562
Warrant liability 16,915 18,936
Operating lease liability - current 117 564
Total current liabilities 18,938 24,120
Operating lease liability – long term 117
Total liabilities 18,938 24,237
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, value
Common stock, $0.001 par value per share – 400,000,000 shares authorized at December 31, 2024, and December 31, 2025; 11,384,236 and 22,114,245 shares issued and outstanding at December 31, 2024, and December 31, 2025, respectively 22 11
Accumulated other comprehensive loss (1)
Additional paid-in capital 158,001 108,690
Accumulated deficit (127,825) (101,270)
Total stockholders’ equity 30,197 7,431
Total liabilities and stockholders’ equity 49,135 31,668
Series A-2 Prime Preferred Stock    
Stockholders’ equity:    
Preferred stock, value
Series B-2 Preferred Stock    
Stockholders’ equity:    
Preferred stock, value