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

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (11,696) $ (10,488)
Reconciliation of net loss to net cash used in operating activities:    
Share based compensation 1,236 906
Loss on common stock warrant liabilities 759 0
Change in fair value of warrant liability (170) (4,258)
Issuance of Stock Under Founders Agreement (167) 371
Common Stock, Issued to Fortress, Value 827 72
Issuance of Stock for Licenses Acquired 0 1,230
Research and Development License, Acquired Expense 0 3,000
License Expenses Paid In Kind 6 6
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (11) 70
Net cash and cash equivalents used in operating activities (9,026) (9,451)
Cash flows from investing activities:    
Purchase of research and development licenses 0 (3,000)
Net cash used in investing activities 0 (3,000)
Cash flows from financing activities:    
Proceeds from ATM sales of common stock, net of issuance costs 1,623 0
Proceeds from issuance of common stock, warrants, and pre-funded warrants, net of issuance costs 0 7,525
Proceeds from exercise of warrants 9,421 1
Warrant exercise transaction costs (1,207) 0
Net cash provided by financing activities 9,837 7,526
Net change in cash and cash equivalents 811 (4,925)
Cash and cash equivalents, beginning of period 1,783 6,708
Cash and cash equivalents, end of period 2,594 1,783
Supplement disclosure of non-cash information:    
Issuance of common shares - Founders Agreement 827 0
Related Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 367 (662)
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses $ (177) $ 302