XML 39 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss $ (27,592) $ (12,470)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 538 222
Non-cash lease expense 4 1
Depreciation 20 6
Change in fair value of warrant liabilities (297) (2,955)
Change in operating assets and liabilities:    
Prepaid expenses and other assets 20 70
Accounts payable 3,058 113
Accrued and other liabilities (461) 4,214
Net cash used in operating activities (24,710) (10,799)
Investing activities    
Purchases of property and equipment (8) (50)
Net cash used in investing activities (8) (50)
Financing activities    
Proceeds from the issuance of common stock and warrants under the securities purchase agreements 19,998  
Proceeds from exercise of warrants 1  
Payments of issuance costs in connection with the securities purchase agreements (1,651) (80)
Payment of employee withholding taxes related to shares withheld from issuance for vested restricted stock units (48)  
Net cash provided by (used in) financing activities 18,300 (80)
Net decrease in cash (6,418) (10,929)
Cash at beginning of period 22,435 33,364
Cash at end of period 16,017 22,435
Supplemental non-cash investing and financing transactions:    
Fair value of warrants issued to placement agent 309  
Right-of-use assets obtained in exchange for operating lease liabilities   223
Reclassification of warrant liabilities upon exercise of warrants $ 1 $ 7,183