XML 22 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (5,890) $ (5,512) $ (1,623) $ (6,528) $ (28,982) $ (16,048)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation and amortization expense 26   2   28 4  
Amortization of operating right of use assets         15 0  
Stock-based compensation         147 443  
Common Stock issued in exchange for services         600 37  
Change in fair value of warrant liabilities 4,963   (165)   8,481 (174)  
Change in fair value of convertible promissory notes         8,032 (1,011)  
Loss on convertible note conversions 772   127   4,239 127  
Gain on exercise of warrant liabilities (5,369)   0   (5,369) 0  
Loss on issuance of registered direct Common Stock         730 0  
Loss on consideration shares and warrants 0   0   1,277 0  
Expense for debt issuance costs due to fair value election on Anson Notes         350 521  
Warrant issuance costs related to Alvogen termination         0 1,336  
Convertible note default penalty 0   0   0 849  
Changes in operating assets and liabilities:              
Prepaid expense and other assets         414 (100)  
Account receivable         12 0  
Accounts payable         100 4,949  
Insurance loan payable         0 634  
Operating lease liabilities         (63) 0  
Accrued expense and other liabilities         (412) (106)  
Net cash used in operating activities         (10,399) (8,539)  
CASH FLOWS FROM INVESTING ACTIVITIES              
Business acquisition, net of cash acquired         (2,561) 0  
Net cash used in investing activities         (2,561) 0  
CASH FLOWS FROM FINANCING ACTIVITIES              
Repayment of convertible note         0 (4,800)  
Repayment of insurance note         (394) 0  
Expense for debt issuance costs due to fair value election on Anson Notes         (350) (521)  
Proceeds from issuance of insurance loan         227 0  
Proceeds from Anson convertible note, net         5,000 2,941  
Proceeds from liability classified warrants         0 2,059  
ATM offering, net of offering costs         4,751 0  
Proceeds from issuance of Common Stock and warrants issued in private placement, net of issuance costs         0 1,027  
Net cash provided by financing activities         18,701 5,590  
Net increase (decrease) in cash and cash equivalents         5,741 (2,949)  
Cash and cash equivalents at beginning of period   $ 1,443   $ 4,595 1,443 4,595 $ 4,595
Cash and cash equivalents at end of period $ 7,184   $ 1,646   7,184 1,646 $ 1,443
Supplemental disclosure of cash flow information:              
Cash paid for interest         374 374  
Cash paid for taxes         0 0  
Non-cash investing and financing activities:              
Issuance of Common Stock warrants as offering costs         0 188  
Exercise of the warrants for subscription receivable         3,087 0  
Amortization of deferred offering costs to additional paid-in capital         120 0  
Conversion of Series A Preferred Stock to Common Stock [Member]              
Non-cash investing and financing activities:              
Conversion of Series A preferred stock into Common Stock         0 3  
Conversion of Principal and Interest Into Common Stock [Member]              
Non-cash investing and financing activities:              
Issuance of Common Stock as principal and interest repayment for convertible notes         11,142 1,102  
Consideration Warrants [Member]              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from issuance of Common Stock and warrants, net of issuance costs         9,468 0  
Warrants Other Than Consideration Warrants [Member]              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from issuance of Common Stock and warrants, net of issuance costs         $ 0 $ 4,884