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

Statements of Cash Flows

v3.25.4
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows From Operating Activities    
Net Income (Loss) $ (21,015,000) $ (19,448,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 40,000 7,000
Stock-based compensation expense 5,147,000 4,299,000
Stock issuance for services 226,000 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 191,000 243,000
Inventory (103,000) 0
Accounts payable and accrued expenses 1,526,000 428,000
Net cash used in operating activities (13,988,000) (14,471,000)
Cash Flows From Investing Activities    
Purchase of property and equipment (600,000) (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 (600,000) (201,000)
Cash Flows From Financing Activities    
Proceeds from exercise of stock options 13,000 136,000
Net cash provided by financing activities 16,591,000 866,000
Net increase (decrease) in cash and restricted cash 2,003,000 (13,806,000)
Cash, cash equivalents and restricted cash - beginning of the year 2,433,000 16,239,000
Cash, cash equivalents and restricted cash - at end of the year 4,436,000 2,433,000
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 4,380,000 2,377,000
Restricted cash (included in other assets) 56,000 56,000
Total cash, cash equivalents and restricted cash 4,436,000 2,433,000
Supplemental Disclosures of Cash Flow Information:    
Purchase of property and equipment in accounts payable 92,000 0
Taxes paid 0 0
Public Stock Offering [Member]    
Cash Flows From Financing Activities    
Proceeds from sale of common stock, net of issuance costs 10,250,000 730,000
At The Market Offering Program [Member]    
Cash Flows From Financing Activities    
Proceeds from sale of common stock, net of issuance costs $ 6,328,000 $ 0