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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING EXPENSES:        
Research and development $ 305 $ 26 $ 726
General and administrative 768 2,350 2,019 10,148
Total operating expenses 768 2,655 2,045 10,874
OPERATING LOSS (768) (2,655) (2,045) (10,874)
OTHER INCOME (EXPENSE)        
Change in fair value of 2023 Convertible Note, SPA Warrant, and the Ayrton Note Purchase Option (126) 570 (1,462) (589)
Loss in connection with Share Consideration shares (12,676)
Gain (loss) in connection with backstop put option liability and fixed maturity consideration (1,533) (11,373) 442 (45,404)
Fair value of warrant issuances (2,301)
Fair value of non-cash stock issuances (109) (686)
Transaction costs (77) (77) (8,732)
Loss on extinguishment of debt (224) (15,080)
Loss on exchange of notes (1,899) (1,899)
Interest expense, including amortization of debt issuance costs (461) (293) (1,613) (1,262)
Net loss attributable to equity interest in Virion (484) (3,302)
Change in fair value of Virion contribution liability (180) 240
Fair value of stock obligations (47)
Other (3) (6)
Total other income (expense) (4,760) (11,432) (7,718) (86,736)
NET LOSS $ (5,528) $ (14,087) $ (9,763) $ (97,610)
Weighted average shares outstanding, basic 27,487,283 26,605,147 27,446,868 25,980,292
Weighted average shares outstanding, diluted 27,487,283 26,605,147 27,446,868 25,980,292
Net loss per share, basic $ (0.20) $ (0.53) $ (0.36) $ (3.76)
Net loss per share, diluted $ (0.20) $ (0.53) $ (0.36) $ (3.76)