CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended		14 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025
Cash flows from operating activities:
Net income			$ (2,085,000)	$ 39,923,000
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation			58,000	74,000
Stock-based compensation expense			3,725,000	4,908,000
Loss on issuance of warrants			75,644,000
Change in fair value of convertible notes	$ 1,877,000	$ 1,878,000	5,362,000	170,000
Change in fair value of warrants	236,000	377,000	(85,950,000)	15,376,000
Change in fair value of embedded forward purchase agreements and derivative liabilities		(81,000)		19,931,000
Change in fair value of contingent consideration	(37,000)	0	(3,509,000)	(97,464,000)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets			93,000	(770,000)
Accounts payable			(3,385,000)	1,242,000
Accrued expenses and other liabilities			(2,537,000)	(3,181,000)
Other assets and liabilities			(12,000)	120,000
Net cash used in operating activities			(12,596,000)	(19,671,000)
Cash flows from investing activities:
Purchases of property and equipment			(4,000)
Net cash used in investing activities			(4,000)
Cash flows from financing activities:
Proceeds from issuance of convertible notes				15,000,000
Net cash provided by financing activities			18,514,000	15,050,000
Net increase (decrease) in cash			5,914,000	(4,621,000)
Cash and cash equivalents at beginning of period			13,000	5,158,000
Cash and cash equivalents at end of period	5,927,000	$ 537,000	5,927,000	537,000	$ 5,927,000
Non-cash financing activities:
Cashless warrant exercises			6,884,000
At the market offering
Cash flows from financing activities:
Proceeds from issuance of shares, net	$ 84,000		168,000	$ 50,000	$ 300,000
Public offering
Cash flows from financing activities:
Proceeds from issuance of shares, net			$ 18,346,000