Quarterly report [Sections 13 or 15(d)]

Condensed Statements of Cash Flows (Unaudited)

v3.26.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities    
Net Income (Loss) $ (12,749) $ (15,713)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 150 23
Stock based compensation expense 3,855 3,720
Stock issuance upon vesting of restricted stock units 915 0
Stock issuance for services 100 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 82 123
Inventory (11) 0
Accounts payable and accrued expenses (1,882) 765
Net cash used in operating activities (9,540) (11,082)
Cash Flows From Investing Activities    
Purchase of property and equipment (564) (184)
Purchase of short-term investments (0) 3,760
Maturities of short-term investments 0 (3,760)
Net cash used in investing activities (564) (184)
Cash Flows From Financing Activities    
Proceeds from exercise of stock options 10 1
Net cash provided by financing activities 11,790 10,745
Net increase / (decrease) in cash and restricted cash 1,686 (521)
Cash, cash equivalents and restricted cash – Beginning of period 4,436 2,433
Cash, cash equivalents and restricted cash – Ending of period 6,122 1,912
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 6,065 1,856
Restricted cash (included in other assets) 57 56
Total cash, cash equivalents and restricted cash 6,122 1,912
Supplemental Disclosures of Cash Flow Information:    
Purchase of property and equipment in accounts payable 0 83
Taxes paid 0 0
Public Stock Offering    
Cash Flows From Financing Activities    
Proceeds from sale of equity, net of issuance costs 10,265 10,250
At The Market Offering    
Cash Flows From Financing Activities    
Proceeds from sale of equity, net of issuance costs $ 1,515 $ 494