CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net (loss) income	$ (11,793)	$ 9,095
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	19	19
Stock-based compensation expense	1,932	1,729
Loss on issuance of warrants		75,644
Loss on extinguishment of debt	76
Change in fair value of convertible notes	8,727	1,631
Change in fair value of warrants	(4,656)	(86,729)
Loss on derivative liability	1,743
Change in fair value of contingent consideration	(4)	(3,488)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	10	(298)
Accounts payable	539	(3,473)
Accrued expenses and other liabilities	700	(2,036)
Other assets and liabilities	71	(3)
Net cash used in operating activities	(2,636)	(7,909)
Cash flows from investing activities:
Purchases of property and equipment		(4)
Net cash used in investing activities		(4)
Cash flows from financing activities:
Proceeds from PIPE Financing	4,208
Proceeds from issuance of shares, net	1,665
Proceeds from issuance of public offering shares, net		18,346
Net cash provided by financing activities	5,873	18,346
Net increase in cash	3,237	10,433
Cash and cash equivalents at beginning of period	3,006	13
Cash and cash equivalents at end of period	6,243	10,446
Non-cash financing activities:
Settlement of convertible notes with common shares	31,489
Reclassification of derivative liability to equity and warrant liabilities in connection with PIPE financing	16,622
Modification of cash-settled restricted stock units	$ 1,952
Cashless warrant exercises		$ 6,418