Quarterly report [Sections 13 or 15(d)]

Balance Sheets

v3.26.1
Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 37,371 $ 29,198
Prepaid expenses and other current assets 8,959 7,692
Marketable securities 17,215 12,071
Total current assets 63,545 48,961
Right of use asset, net 813 108
Property and equipment, net 48 66
Total assets 64,406 49,135
Current liabilities:    
Accounts payable 1,140 383
Accrued liabilities 3,052 1,523
Warrant liability 21,695 16,915
Operating lease liability - current 598 117
Total current liabilities 26,485 18,938
Operating lease liability – long term 217
Total liabilities 26,702 18,938
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, 2025, and March 31, 2026; 22,114,245 and 25,237,782 shares issued and outstanding at December 31, 2025, and March 31, 2026, respectively 25 22
Accumulated other comprehensive (loss) income 6 (1)
Additional paid-in capital 178,321 158,001
Accumulated deficit (140,648) (127,825)
Total stockholders’ equity 37,704 30,197
Total liabilities and stockholders’ equity 64,406 49,135
Series A-2 Prime Preferred Stock    
Stockholders’ equity:    
Preferred stock, value
Series B-2 Preferred Stock    
Stockholders’ equity:    
Preferred stock, value