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
Operating activities    
Net loss $ (11,401) $ (10,316)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on extinguishment of debt 0 (535)
Non-cash writeoff of accounts payable (201) (1,403)
Stock based compensation 455 1,656
Other adjustments (607) 1,219
Changes in operating assets and liabilities:    
Accounts receivable (21) 130
Prepaid expenses and other assets (258) 86
Accounts payable and accrued expenses (267) (2,933)
Lease liability payments (360) (682)
Deferred revenue 193 (347)
Net cash used in operating activities from continued operations (12,467) (13,125)
Net cash used in operating activities from discontinued operations 0 (177)
Net cash used in operating activities (12,467) (13,302)
Investing activities    
Net cash for investing activities 0 0
Financing activities    
Proceeds from sales of common stock, net of issuance costs 80 122,342
Net cash provided by financing activities 80 122,342
Net (decrease) increase in cash and cash equivalents (12,387) 109,040
Cash and cash equivalents at the beginning of the period 112,974 3,934
Cash and cash equivalents at the end of the period 100,587 112,974
Supplemental disclosures of non-cash financing activities:    
Issuance of common stock upon conversion of the 2022 Promissory Note 0 4,505
Issuance of common stock for payment of bonuses and consulting fees 0 35
Interest paid 32 31
Income taxes paid $ 25 $ 14