v3.25.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Cash Flows From Operating Activities        
Net Income (Loss) $ (5,255,000) $ (4,979,000) $ (15,713,000) $ (14,541,000)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation     23,000 0
Stock based compensation expense     3,720,000 3,300,000
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     123,000 260,000
Accounts payable and accrued expenses     765,000 662,000
Net cash used in operating activities     (11,082,000) (10,319,000)
Cash Flows From Investing Activities        
Purchase of property and equipment     (184,000) (201,000)
Purchase of short-term investments     (3,760,000) 0
Maturities of short-term investments     (3,760,000) 0
Net cash used in investing activities     (184,000) (201,000)
Cash Flows From Financing Activities        
Proceeds from exercise of stock options     1,000 29,000
Net cash provided by financing activities     10,745,000 105,000
Net increase (decrease) in cash and restricted cash     (521,000) (10,415,000)
Cash, cash equivalents and restricted cash – Beginning of period     2,433,000 16,239,000
Cash, cash equivalents and restricted cash – Ending of period 1,912,000 5,824,000 1,912,000 5,824,000
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 1,856,000 5,768,000 1,856,000 5,768,000
Restricted cash (included in other assets) 56,000 56,000 56,000 56,000
Total cash, cash equivalents and restricted cash $ 1,912,000 $ 5,824,000 1,912,000 5,824,000
Supplemental Disclosures of Cash Flow Information:        
Purchase of property and equipment in accounts payable     83,000 0
Taxes paid     0 0
Public Stock Offering        
Cash Flows From Financing Activities        
Proceeds from sale of equity     10,250,000 0
At The Market Offering        
Cash Flows From Financing Activities        
Proceeds from sale of equity     $ 494,000 $ 76,000

Source

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