v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flow from operating activities:    
Net loss $ (19,369,000) $ (2,134,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 36,000 56,000
Stock-based compensation expense 255,000 250,000
Issuance of common stock to vendor   85,000
Right-of-use asset amortization 72,000 68,000
Loss / (gain) on foreign currency transactions 856,000 (1,063,000)
Change in fair value of derivative liabilities 3,391,000  
Loss on the execution of equity line of credit (ELOC) 11,874,000  
Debt discount amortization 283,000  
Loss on the extinguishment of debt 371,000  
Transactions costs allocable to notes payable 67,000  
Change in operating assets and liabilities:    
Research and development tax credit receivable 11,000 (126,000)
Prepaid expenses and other assets (122,000) (222,000)
Accounts payable and accrued expenses 780,000 (393,000)
Lease liabilities (75,000) (29,000)
Other current liabilities (2,000) 170,000
Net cash used in operating activities (1,572,000) (3,338,000)
Cash flow from financing activities:    
Payment for legal expenses related to extinguishment of debt (10,000)  
Gross proceeds received related to note payable 2,625,000  
Payment for legal expense related to notes payable (50,000)  
Principal payment for the settlement of note payable (1,100,000)  
Payment for a release of claims related to notes payable (300,000)  
Principal payment on the financing of the director and officer insurance policy (11,000)  
Net cash provided by financing activities 8,603,000  
Effect of exchange rate changes on cash 161,000 78,000
Net change in cash 7,192,000 (3,260,000)
Cash, beginning of period 374,000 7,141,000
Cash, end of period 7,566,000 $ 3,881,000
Supplemental disclosure of cash and non-cash investing and financing activities    
Initial classification of fair value of derivative liability 1,460,000  
Debt discount related to notes payable 1,125,000  
Conversion of debt to preferred stock and warrants 7,862,000  
Financing of directors and officers' liability insurance with debt 112,000  
Private placement    
Cash flow from financing activities:    
Gross proceeds received 4,630,000  
Payments for financing expense (184,000)  
Common stock and warrants purchase agreement    
Cash flow from financing activities:    
Gross proceeds received 681,000  
Payments for financing expense (126,000)  
March 2026 Registered Direct Offering    
Cash flow from financing activities:    
Gross proceeds received 2,617,000  
Payments for financing expense (152,000)  
Equity line of credit    
Cash flow from financing activities:    
Payments for financing expense $ (17,000)  

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