Quarterly report [Sections 13 or 15(d)]

Condensed Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities    
Net loss $ (5,484) $ (4,606)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 7 0
Stock based compensation expense 1,109 1,207
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (65) 33
Accounts payable and accrued expenses (44) (97)
Net cash used in operating activities (4,477) (3,463)
Cash Flows From Investing Activities    
Purchase of property and equipment 0 (88)
Purchase of short-term investments (3,760) 0
Net cash used in investing activities (3,760) (88)
Cash Flows From Financing Activities    
Proceeds from sale of equity, net of issuance costs 10,250 0
Net cash provided by financing activities 10,250 0
Net increase (decrease) in cash and restricted cash 2,013 (3,551)
Cash, cash equivalents and restricted cash – Beginning of period 2,433 16,239
Cash, cash equivalents and restricted cash – Ending of period 4,446 12,688
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 4,390 12,638
Restricted cash (included in other assets) 56 50
Total cash, cash equivalents and restricted cash 4,446 12,688
Supplemental Disclosures of Cash Flow Information:    
Purchase of property and equipment in accounts payable $ 2 $ 0