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Amendment No. 1 ERNEXA THERAPEUTICS INC. DE 31-1103425 1035 Cambridge Street Suite 18A Cambridge MA 02141 (617) 798-6700 Sanjeev Luther 1035 Cambridge Street Suite 18A Cambridge MA 02141 (617) 798-6700 Non-accelerated Filer true false

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<p id="xdx_800_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_z5IymkRdnYv2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">1) Organization and Description of Business Operations DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Ernexa Therapeutics Inc., formerly known as Eterna Therapeutics Inc, (the “Company”) is a preclinical-stage synthetic allogeneic iMSC therapy company. Its vision is to improve the lives of patients with difficult-to-treat diseases through innovative, effective, and safe, but accessible cellular therapies, and its mission is to develop allogenic off-the-shelf cellular therapies, leveraging induced pluripotent stem cell (“iPSC”)-derived mesenchymal stem cells (“iMSCs”) to target solid tumors and autoimmune diseases. As used herein, the “Company” or “Ernexa” refers collectively to Ernexa and its consolidated subsidiaries (Eterna Therapeutics LLC, Novellus, Inc. and Novellus Therapeutics Limited) unless otherwise stated or the context otherwise requires.

2) Liquidity and Capital Resources LIQUIDITY AND CAPITAL RESOURCES The Company has incurred significant operating losses and has an accumulated deficit as a result of its efforts to develop product candidates and provide general and administrative support for operations. As of December 31, 2024, the Company had a cash balance of approximately $1.7 million and an accumulated deficit of approximately $231.5 million. For the year ended December 31, 2024, the Company incurred a net loss of $44.5 million, which includes a $22.4 million non-cash charge for loss on extinguishment of debt, and the Company used cash of $15.8 million in operating activities. In October 2022, the Company entered into a sublease for approximately 45,500 square feet of office and laboratory space in Somerville, Massachusetts. Pursuant to the sublease, the Company delivered to the sublessor a security deposit in the form of a letter of credit in the amount of $4.1 million. The letter of credit was issued by the Company’s commercial bank, which required that the Company cash collateralize the letter of credit by depositing $4.1 million in a restricted cash account with such bank. On August 5, 2024, the sublessor drew down on the letter of credit for the full $4.1 million to cover past due rent, plus penalties and interest. On August 9, 2024, the Company and the sublessor entered into a sublease termination agreement, effective August 31, 2024. See Note 8 for additional information regarding the sublease and sublease termination agreement. In April 2023, the Company entered into a standby equity purchase agreement (the “SEPA”) and a registration rights agreement with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park committed to purchase up to $<span id="xdx_90F_esrt--StockRepurchaseProgramAuthorizedAmount1_iI_pn5n6_c20230430__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember__srt--RangeAxis__srt--MaximumMember_zlmewBRO44sk" title="Aggregate gross purchase price">10.0 million of the Company’s common stock in an “equity line” financing arrangement. During the year ended December 31, 2023, the Company issued and sold approximately <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230101__20231231__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember_zdWFDqv2AHF1" title="Common stock shares issued and sold (in shares)">14,000 shares of common stock under the SEPA for gross proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20230101__20231231__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember_zqByVwX2v0xk" title="Gross proceeds from sale of equity">0.3 million.<span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_do_c20240101__20241231__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember_zAhPHddY67Ka" title="Common stock shares issued and sold (in shares)"> No shares were sold under the SEPA during the year ended December 31, 2024. 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On September 24, 2024, the Company received $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20240924__20240924__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zvjOexDB4Ytd" title="Proceeds received from the convertible notes financing">3.9 million in aggregate gross proceeds from the issuance of bridge notes, and on October 29, 2024, the Company received $<span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20241029__20241029__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zOz0sqKXjArl" title="Proceeds received from the convertible notes financing">1.1 million in gross proceeds from the sale of shares of the Company’s common stock and prefunded warrants. See Note 6 for additional information regarding these financings. On March 11, 2025, the Company received $<span id="xdx_909_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwsWNaWacM4k" title="Convertible notes, net">1.5 million in exchange for the issuance of a promissory note with an aggregate principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zQ71q07lQIqa" title="Aggregate principal amount">1.5 million to an investor. See Note 19 for more information on this subsequent event. In connection with preparing the accompanying consolidated financial statements as of and for the year ended December 31, 2024, the Company’s management concluded that there is substantial doubt regarding the Company’s ability to continue as a going concern because it does not expect to have sufficient cash or working capital resources to fund operations for the twelve-month period subsequent to the issuance date of these consolidated financial statements. The Company will need to raise additional capital, which could be through the sales of shares of its common stock under the SEPA, public or private equity offerings, debt financings, out-licensing the Company’s intellectual property, strategic partnerships or other means. Other than the SEPA, the Company currently has no arrangements for capital, and no assurances can be given that it will be able to raise capital when needed, on acceptable terms, or at all. The accompanying consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to the Company’s ability to continue as a going concern.

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<p id="xdx_809_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_z2eemaPDcOOa" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">3) Basis of Accounting Presentation and Summary of Significant Accounting Policies BASIS OF ACCOUNTING PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 3A) Basis of Accounting Presentation The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). All significant intercompany balances and transactions have been eliminated in consolidation. 3B) Reverse Stock Split As approved by the Company’s stockholders at the Company’s Annual Meeting of Stockholders held on June 2, 2025 (the “Annual Meeting”), the Company effected a reverse stock split of its common stock at a ratio of 1-for-15, as determined by the Company’s Board of Directors within the parameters approved by the Company’s stockholders (the “Reverse Stock Split”). The Reverse Stock Split became effective under Delaware law at 12:01 a.m. Eastern time on June 12, 2025. Upon the effectiveness of the Reverse Stock Split, every fifteen shares of the issued and outstanding common stock were automatically combined and reclassified into one issued and outstanding share of common stock. The Reverse Stock Split did not alter the par value of the common stock, and the number of authorized shares of common stock remains unchanged at 100,000,000. No fractional shares were issued in connection with the Reverse Stock Split, and no cash or other consideration was paid in connection with any fractional shares. Stockholders who otherwise would have held a fractional share after giving effect to the Reverse Stock Split instead owned one whole share of the post-reverse stock split common stock. All share and per share data in this Registration Statement have been adjusted for all periods presented to reflect the Reverse Stock Split. 3C) Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities; (b) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; (c) the reported amounts of expenses during the reporting period; and (d) the reported amount of the fair value of assets acquired in connection with business combinations. On an ongoing basis, the Company evaluates its estimates, including those related to the recoverability and useful lives of long-lived assets; stock-based compensation assumptions; valuation assumptions of warrants and liabilities associated with the September 2024 Transactions; contingencies; contingent consideration and the provision for income taxes, including the valuation allowance. The Company bases its estimates on a combination of historical experience and various other assumptions that it believes are reasonable under the circumstances. Actual results may differ materially from these estimates. Cash, Cash Equivalents and Restricted Cash The Company classifies highly liquid investments with a remaining contractual maturity at date of purchase of three months or less as cash equivalents. The Company had no cash equivalents as of December 31, 2024 or 2023. Restricted cash as of December 31, 2023 consisted of a cash collateralization of $4.1 million for a security deposit in the form of a letter of credit issued by the Company’s commercial bank and delivered to the sublessor of office and laboratory space the Company subleases in Somerville, Massachusetts. Property and Equipment Property and equipment are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Laboratory and manufacturing equipment are depreciated over an estimated useful life of <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaboratoryAndManufacturingEquipmentMember_zBcSya1x9tQ8" title="Estimated useful life">seven years. Leasehold improvements are depreciated over the shorter of their estimated useful life, or the lease term. Furniture and fixtures are depreciated over an estimated useful life of five years. Computer equipment are depreciated over an estimated useful life of three years. Upon retirement or other disposition of these assets, the cost and related accumulated depreciation of these assets are removed from the accounts and the resulting gain or losses are reflected in the results of operations. Expenditures for maintenance and repairs are charged to operations. Renewals and betterments are capitalized. Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment annually or more frequently if events occur or circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. Events that would indicate impairment and trigger an interim impairment assessment include, but are not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance and other relevant events. Management evaluates the Company as a single reporting unit, therefore, goodwill is tested for impairment at the entity level. Goodwill is tested for impairment as of December 31st of each year, or more frequently as warranted by events or changes in circumstances mentioned above. Accounting guidance also permits an optional qualitative assessment for goodwill to determine whether it is more likely than not that the carrying value of a reporting unit exceeds its fair value. If, after this qualitative assessment, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further quantitative testing will be necessary. A quantitative assessment is performed if the qualitative assessment results in a more likely than not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the reporting unit’s carrying value exceeds its fair value. Revenue Recognition The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers (“ASC 606”) when a customer obtains control of promised services or goods in an amount that reflects the consideration to which the Company expects to receive in exchange for those goods or services. In general, the Company applies the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when a performance obligation is satisfied. Recognition of revenue is driven by satisfaction of the performance obligations using one of two methods: revenue is either recognized over time or at a point in time. Contracts containing multiple performance obligations classify those performance obligations into separate units of account either as standalone or combined units of account. Allocation of revenue to individual elements that qualify for separate accounting is based on the separate selling prices determined for each component, and total contract consideration is then allocated across the components of the arrangement. If separate selling prices are not available, the Company will use its best estimate of such selling prices, consistent with the overall pricing strategy and after consideration of relevant market factors. The Company estimates the amount of consideration it expects to recognize as revenue that is not probable of having a significant reversal of such recognized revenue, and it places a constraint on the remaining contractual consideration. As it becomes evident that the constrained amounts are no longer at risk of a significant reversal of revenue, the Company will remove the constraint from the related revenue and recognize a cumulative catch-up adjustment to revenue in the period in which the constraint was removed. The Company had one revenue generating contract relating to an option and license agreement as well as certain development activities. See Note 5. Contract Assets: A contract asset is an entity’s right to payment for goods and services already transferred to a customer if that right to payment is conditional on something other than the passage of time. Generally, an entity will recognize a contract asset when it has fulfilled a contract obligation but must perform other obligations before being entitled to payment. Contract assets consist primarily of the cost of project contract work performed by third parties whereby the Company expects to recognize any related revenue at a later date, upon satisfaction of the contract obligations. The Company had no contract assets as of December 31, 2024 or 2023. Contract Liabilities: Contract liabilities consist primarily of consideration received, usually in the form of payment, on project work to be performed whereby the Company expects to recognize the related revenue at a later date, upon satisfaction of the contract obligations. As of December 31, 2023, contract liabilities were $0.6 million and were recognized as deferred revenue in the accompanying consolidated balance sheet. The Company recognized $0.6 million and $0.1 million of revenue during the years ended December 31, 2024 and 2023, respectively, from contract liabilities that arose in 2023. There were no contract liabilities that arose during the year ended December 31, 2024, and there was no contract liabilities balance as of December 31, 2024. Research and Development The Company expenses its research and development costs as incurred. Research and development expenses consist of costs incurred for company-sponsored research and development activities. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development in the period in which they are incurred if the technology is not expected to have any alternative future uses other than the specific research and development project for which it was intended. The major components of research and development costs include salaries and employee benefits, stock-based compensation expense, supplies and materials, preclinical study costs, expensed licensed technology, consulting, scientific advisors and other third-party costs, as well as allocations of various overhead costs related to our product development efforts. The Company has contracted with third parties to perform various studies. The financial terms of these agreements vary from contract to contract and may result in uneven payment flows. The Company accrues for third party expenses based on estimates of the services received and efforts expended during the reporting period. If the actual timing of the performance of the services or the level of effort varies from the estimate, the accrual is adjusted accordingly. The expenses for some third-party services may be recognized on a straight-line basis if the expected costs are expected to be incurred ratably during the period. Payments under the contracts depend on factors such as the achievement of certain events or milestones, the allocation of responsibilities among the parties to the agreement, and the completion of portions of the preclinical study or similar conditions. Income Taxes The Company records deferred tax liabilities and assets based on the differences between the consolidated financial statements carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse and establishing a valuation allowance when it was more likely than not that some portion or all of the deferred tax assets would not be realized. Income tax expense consists of the tax payable for the period and the change during the period in deferred tax assets and liabilities. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company has no material uncertain tax positions for any of the reporting periods presented. Loss Per Share The Company calculates basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities. The Company’s convertible notes contractually entitled the holders of such notes to participate in dividends but did not contractually require the holders to participate in the Company’s losses. As such, the two-class method is not applicable during periods with a net loss. Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, including the weighted average effect of prefunded warrants the Company issued in connection with the September 2024 Transactions (see Note 6 and Note 16), and without consideration for potentially dilutive securities. The Company determined that the exercise of the prefunded warrants requires nominal consideration for the delivery of shares of common stock, and as a result, has considered the <span id="xdx_907_ecustom--ClassOfWarrantOrRightGrantsInPeriod_c20241029__20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zGcEVrONXZm2" title="Class of warrant or right grants in period">125,000 shares underlying the prefunded warrants to be outstanding effective October 29, 2024 for purposes of calculated basic net loss per share. Diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding, including the weighted average effect of the prefunded warrants, plus dilutive securities. Shares of common stock issuable upon exercise, conversion or vesting of stock options, restricted stock units, warrants and the outstanding Series A convertible preferred stock are considered potential shares of common stock and are included in the calculation of diluted net loss per share using the treasury method when their effect is dilutive. The Company’s convertible notes were also considered potential shares of common stock for the year ended December 31, 2023 and were included in the calculation of diluted net loss per share using the “if-converted” method as of such period, and the more dilutive of either the two-class method or the if-converted method was reported. There were no convertible notes outstanding as of December 31, 2024. Diluted net loss per share is the same as basic net loss per share for periods in which the effect of potentially dilutive shares of common stock is antidilutive. Segment Reporting The Company operates within a single1 reportable operating segment being the research and development of cellular therapies. The Company has identified its president and chief executive officer as its chief operating decision maker (“CODM”), who regularly reviews the Company’s performance and allocates resources based on information reported at the consolidated entity level. Concentration of Credit Risk The Company maintains its cash balances in financial institutions located in the United States. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. The Company’s cash balances are uninsured for deposit accounts that exceed the FDIC insurance limit. In the Company’s business, vendor concentrations could be indicative of vulnerabilities in the Company’s supply chain, which could ultimately impact the Company’s ability to continue its research and development activities. For the years ended December 31, 2024 and 2023, there was no vendor concentration related to the Company’s research and development activities. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between willing market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 Inputs – Valued based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. ● Level 2 Inputs – Valued based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. ● Level 3 Inputs – Valued based on inputs for which there is little or no market value, which require the reporting entity to develop its own assumptions. The carrying amounts reported on the consolidated balance sheet for cash and restricted cash, other receivables, prepaid assets and other current assets, accounts payable and accrued expenses, other current liabilities and other liabilities approximate fair value due to their short maturities. Leases The Company accounts for its leases under ASC Topic 842, Leases. Operating lease liabilities represent the present value of lease payments not yet paid. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepaid or accrued lease payments, initial direct costs, lease incentives and impairment of operating lease assets. If the interest rate implicit in the lease is not readily determinable, the Company uses the incremental borrowing rates for collateralized borrowings in an amount equal to the lease payments under similar terms. The Company has elected the practical expedient to not separate non-lease components from the lease components to which they relate and instead account for each as a single lease component for all underlying asset classes. Some leasing arrangements require variable payments that are dependent on usage or may vary for other reasons, such as payments for insurance, tax payments and other miscellaneous costs. The variable portion of payments contemplated in the lease that do not depend on an index or rate are not included in the ROU assets or lease liabilities. Rather, variable payments that do not depend on an index or rate are expensed when the obligation for those payments is incurred and are included in lease expenses. Accordingly, all expenses associated with a lease contract are accounted for as lease expenses. The Company has also elected not to recognize ROU and lease liabilities for short-term leases that have a term of 12 months or less. The Company accounts for lease modifications as a separate contract when the modification (i) grants the lessee an additional right of use not included in the original lease contract, and (ii) increases the lease payments commensurate with the stand-alone price for the additional right of use. In this case, the Company would be treated as a new lease and measured in accordance with ASC 842 at the commencement date of the new lease without any impact on the existing lease. Otherwise, the Company accounts for lease modifications as a continuance of the existing lease, in which case, the Company reassesses the lease classification, remeasures the lease liability using an updated discount rate, and unless there is a full or partial termination of the lease, adjusts the ROU asset by the amount of change to the lease liability. For a full or partial lease termination, the lessee reduces the carrying amount of the ROU asset on a basis proportionate to the full or partial termination of the lease, and any difference between the adjustment to the ROU asset and the lease liability is recognized as a gain or loss in the current period. Commitment and Contingencies The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. Stock-Based Compensation The Company recognizes stock-based compensation expense for equity awards granted to employees, directors and certain consultants. The Company estimates the fair value of stock options using the Black-Scholes option pricing model. The fair value of stock options granted is recognized as expense over the requisite service period on a straight-line basis. Warrants The Company accounts for common stock warrants as either equity-classified or liability-classified instruments based on an assessment of the specific terms of the warrants and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, or meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock and whether the holders of the warrants could potentially require net cash settlement in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. Convertible Notes The Company accounts for its convertible notes as a long-term liability equal to the proceeds received from issuance, including the embedded conversion feature, plus any interest paid-in-kind, net of the unamortized debt issuance costs and debt discount on the consolidated balance sheets. The Company evaluates all embedded features contained in the convertible notes, such as the conversion feature, the paid-in-kind feature and the redemption feature in the event of a default, to determine if such features require bifurcation as a derivative. The conversion feature included in the convertible notes is not required to be accounted for separately as an embedded derivative because the conversion feature is considered both indexed to the Company’s own stock and qualifies to be classified in stockholders’ equity. The paid-in-kind feature is considered to be a commitment to originate a loan, and the terms of the additional loans have the same terms as the original debt instrument. Therefore, the paid-in-kind feature qualifies for the scope exception under the applicable accounting guidance and is not required to be bifurcated as a derivative. The redemption feature in the event of a default was determined to be clearly and closely related to the convertible notes and not required to be bifurcated as a derivative. Proceeds from the sale of convertible notes with stock purchase warrants are allocated to the two elements based on their relative fair values. The portion of the proceeds allocated to warrants are recorded as a debt discount to the convertible note proceeds and presented on a net basis in the consolidated balance sheet. Debt issuance costs directly attributable to the transaction are capitalized and allocated to the convertible notes and warrants in the same manner as the proceeds. The amount of debt issuance costs allocated to the convertible notes represent a reduction of the face value of the convertible note proceeds. The Company amortizes debt issuance costs and debt discounts over the contractual term of the convertible notes, using the effective interest method, as interest expense on the consolidated statements of operations. Recent Accounting Standards Recently Adopted Accounting Standards In June 2022, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). The FASB issued ASU 2022-03 to (1) clarify the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) to amend a related illustrative example, and (3) to introduce new disclosure requirements for equity related securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The guidance was effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years with early adoption permitted. The adoption of this ASU did not have a material impact to the Company’s consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures, which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. ASU No. 2023-07 was effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. Early adoption was permitted, and the amendments should be applied retrospectively. The adoption of this ASU did not have an impact to the Company’s consolidated financial statements, but it did result in additional disclosures made in the notes to the consolidated financial statements. Recently Issued Accounting Standards to be Adopted In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements – Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU modified the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations. The amendments to the various topics should be applied prospectively, and the effective date will be determined for each individual disclosure based on the effective date of the SEC’s removal of the related disclosure. If the SEC has not removed the applicable requirements from Regulation S-X or Regulation S-K by June 30, 2027, then this ASU will not become effective. Early adoption is prohibited. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU is intended to improve disclosures about a public business entity’s expenses by requiring disaggregated disclosure, in the notes to the financial statements, of prescribed categories of expenses within relevant income statement captions. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 (as clarified in ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date). Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-04, Debt – Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This ASU clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU No. 2024-04 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted, and the amendments may be applied on either a prospective or retrospective basis. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements.

3A) Basis of Accounting Presentation The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). All significant intercompany balances and transactions have been eliminated in consolidation. 3B) Reverse Stock Split As approved by the Company’s stockholders at the Company’s Annual Meeting of Stockholders held on June 2, 2025 (the “Annual Meeting”), the Company effected a reverse stock split of its common stock at a ratio of 1-for-15, as determined by the Company’s Board of Directors within the parameters approved by the Company’s stockholders (the “Reverse Stock Split”). The Reverse Stock Split became effective under Delaware law at 12:01 a.m. Eastern time on June 12, 2025. Upon the effectiveness of the Reverse Stock Split, every fifteen shares of the issued and outstanding common stock were automatically combined and reclassified into one issued and outstanding share of common stock. The Reverse Stock Split did not alter the par value of the common stock, and the number of authorized shares of common stock remains unchanged at 100,000,000. No fractional shares were issued in connection with the Reverse Stock Split, and no cash or other consideration was paid in connection with any fractional shares. Stockholders who otherwise would have held a fractional share after giving effect to the Reverse Stock Split instead owned one whole share of the post-reverse stock split common stock. All share and per share data in this Registration Statement have been adjusted for all periods presented to reflect the Reverse Stock Split. 3C) Summary of Significant Accounting Policies

Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities; (b) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; (c) the reported amounts of expenses during the reporting period; and (d) the reported amount of the fair value of assets acquired in connection with business combinations. On an ongoing basis, the Company evaluates its estimates, including those related to the recoverability and useful lives of long-lived assets; stock-based compensation assumptions; valuation assumptions of warrants and liabilities associated with the September 2024 Transactions; contingencies; contingent consideration and the provision for income taxes, including the valuation allowance. The Company bases its estimates on a combination of historical experience and various other assumptions that it believes are reasonable under the circumstances. Actual results may differ materially from these estimates.

Cash, Cash Equivalents and Restricted Cash The Company classifies highly liquid investments with a remaining contractual maturity at date of purchase of three months or less as cash equivalents. The Company had no cash equivalents as of December 31, 2024 or 2023. Restricted cash as of December 31, 2023 consisted of a cash collateralization of $4.1 million for a security deposit in the form of a letter of credit issued by the Company’s commercial bank and delivered to the sublessor of office and laboratory space the Company subleases in Somerville, Massachusetts.

4100000

Property and Equipment Property and equipment are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Laboratory and manufacturing equipment are depreciated over an estimated useful life of <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaboratoryAndManufacturingEquipmentMember_zBcSya1x9tQ8" title="Estimated useful life">seven years. Leasehold improvements are depreciated over the shorter of their estimated useful life, or the lease term. Furniture and fixtures are depreciated over an estimated useful life of five years. Computer equipment are depreciated over an estimated useful life of three years. Upon retirement or other disposition of these assets, the cost and related accumulated depreciation of these assets are removed from the accounts and the resulting gain or losses are reflected in the results of operations. Expenditures for maintenance and repairs are charged to operations. Renewals and betterments are capitalized.

P7Y

P5Y

P3Y

Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable assets acquired and liabilities assumed. Goodwill is not amortized but is tested for impairment annually or more frequently if events occur or circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. Events that would indicate impairment and trigger an interim impairment assessment include, but are not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance and other relevant events. Management evaluates the Company as a single reporting unit, therefore, goodwill is tested for impairment at the entity level. Goodwill is tested for impairment as of December 31st of each year, or more frequently as warranted by events or changes in circumstances mentioned above. Accounting guidance also permits an optional qualitative assessment for goodwill to determine whether it is more likely than not that the carrying value of a reporting unit exceeds its fair value. If, after this qualitative assessment, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further quantitative testing will be necessary. A quantitative assessment is performed if the qualitative assessment results in a more likely than not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the reporting unit’s carrying value exceeds its fair value.

Revenue Recognition The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers (“ASC 606”) when a customer obtains control of promised services or goods in an amount that reflects the consideration to which the Company expects to receive in exchange for those goods or services. In general, the Company applies the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when a performance obligation is satisfied. Recognition of revenue is driven by satisfaction of the performance obligations using one of two methods: revenue is either recognized over time or at a point in time. Contracts containing multiple performance obligations classify those performance obligations into separate units of account either as standalone or combined units of account. Allocation of revenue to individual elements that qualify for separate accounting is based on the separate selling prices determined for each component, and total contract consideration is then allocated across the components of the arrangement. If separate selling prices are not available, the Company will use its best estimate of such selling prices, consistent with the overall pricing strategy and after consideration of relevant market factors. The Company estimates the amount of consideration it expects to recognize as revenue that is not probable of having a significant reversal of such recognized revenue, and it places a constraint on the remaining contractual consideration. As it becomes evident that the constrained amounts are no longer at risk of a significant reversal of revenue, the Company will remove the constraint from the related revenue and recognize a cumulative catch-up adjustment to revenue in the period in which the constraint was removed. The Company had one revenue generating contract relating to an option and license agreement as well as certain development activities. See Note 5. Contract Assets: A contract asset is an entity’s right to payment for goods and services already transferred to a customer if that right to payment is conditional on something other than the passage of time. Generally, an entity will recognize a contract asset when it has fulfilled a contract obligation but must perform other obligations before being entitled to payment. Contract assets consist primarily of the cost of project contract work performed by third parties whereby the Company expects to recognize any related revenue at a later date, upon satisfaction of the contract obligations. The Company had no contract assets as of December 31, 2024 or 2023. Contract Liabilities: Contract liabilities consist primarily of consideration received, usually in the form of payment, on project work to be performed whereby the Company expects to recognize the related revenue at a later date, upon satisfaction of the contract obligations. As of December 31, 2023, contract liabilities were $0.6 million and were recognized as deferred revenue in the accompanying consolidated balance sheet. The Company recognized $0.6 million and $0.1 million of revenue during the years ended December 31, 2024 and 2023, respectively, from contract liabilities that arose in 2023. There were no contract liabilities that arose during the year ended December 31, 2024, and there was no contract liabilities balance as of December 31, 2024.

600000

100000

Research and Development The Company expenses its research and development costs as incurred. Research and development expenses consist of costs incurred for company-sponsored research and development activities. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development in the period in which they are incurred if the technology is not expected to have any alternative future uses other than the specific research and development project for which it was intended. The major components of research and development costs include salaries and employee benefits, stock-based compensation expense, supplies and materials, preclinical study costs, expensed licensed technology, consulting, scientific advisors and other third-party costs, as well as allocations of various overhead costs related to our product development efforts. The Company has contracted with third parties to perform various studies. The financial terms of these agreements vary from contract to contract and may result in uneven payment flows. The Company accrues for third party expenses based on estimates of the services received and efforts expended during the reporting period. If the actual timing of the performance of the services or the level of effort varies from the estimate, the accrual is adjusted accordingly. The expenses for some third-party services may be recognized on a straight-line basis if the expected costs are expected to be incurred ratably during the period. Payments under the contracts depend on factors such as the achievement of certain events or milestones, the allocation of responsibilities among the parties to the agreement, and the completion of portions of the preclinical study or similar conditions.

Income Taxes The Company records deferred tax liabilities and assets based on the differences between the consolidated financial statements carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse and establishing a valuation allowance when it was more likely than not that some portion or all of the deferred tax assets would not be realized. Income tax expense consists of the tax payable for the period and the change during the period in deferred tax assets and liabilities. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company has no material uncertain tax positions for any of the reporting periods presented.

Loss Per Share The Company calculates basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities. The Company’s convertible notes contractually entitled the holders of such notes to participate in dividends but did not contractually require the holders to participate in the Company’s losses. As such, the two-class method is not applicable during periods with a net loss. Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, including the weighted average effect of prefunded warrants the Company issued in connection with the September 2024 Transactions (see Note 6 and Note 16), and without consideration for potentially dilutive securities. The Company determined that the exercise of the prefunded warrants requires nominal consideration for the delivery of shares of common stock, and as a result, has considered the <span id="xdx_907_ecustom--ClassOfWarrantOrRightGrantsInPeriod_c20241029__20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zGcEVrONXZm2" title="Class of warrant or right grants in period">125,000 shares underlying the prefunded warrants to be outstanding effective October 29, 2024 for purposes of calculated basic net loss per share. Diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding, including the weighted average effect of the prefunded warrants, plus dilutive securities. Shares of common stock issuable upon exercise, conversion or vesting of stock options, restricted stock units, warrants and the outstanding Series A convertible preferred stock are considered potential shares of common stock and are included in the calculation of diluted net loss per share using the treasury method when their effect is dilutive. The Company’s convertible notes were also considered potential shares of common stock for the year ended December 31, 2023 and were included in the calculation of diluted net loss per share using the “if-converted” method as of such period, and the more dilutive of either the two-class method or the if-converted method was reported. There were no convertible notes outstanding as of December 31, 2024. Diluted net loss per share is the same as basic net loss per share for periods in which the effect of potentially dilutive shares of common stock is antidilutive.

125000

Segment Reporting The Company operates within a single1 reportable operating segment being the research and development of cellular therapies. The Company has identified its president and chief executive officer as its chief operating decision maker (“CODM”), who regularly reviews the Company’s performance and allocates resources based on information reported at the consolidated entity level.

Concentration of Credit Risk The Company maintains its cash balances in financial institutions located in the United States. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. The Company’s cash balances are uninsured for deposit accounts that exceed the FDIC insurance limit. In the Company’s business, vendor concentrations could be indicative of vulnerabilities in the Company’s supply chain, which could ultimately impact the Company’s ability to continue its research and development activities. For the years ended December 31, 2024 and 2023, there was no vendor concentration related to the Company’s research and development activities.

250000

Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between willing market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 Inputs – Valued based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. ● Level 2 Inputs – Valued based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. ● Level 3 Inputs – Valued based on inputs for which there is little or no market value, which require the reporting entity to develop its own assumptions. The carrying amounts reported on the consolidated balance sheet for cash and restricted cash, other receivables, prepaid assets and other current assets, accounts payable and accrued expenses, other current liabilities and other liabilities approximate fair value due to their short maturities.

Leases The Company accounts for its leases under ASC Topic 842, Leases. Operating lease liabilities represent the present value of lease payments not yet paid. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepaid or accrued lease payments, initial direct costs, lease incentives and impairment of operating lease assets. If the interest rate implicit in the lease is not readily determinable, the Company uses the incremental borrowing rates for collateralized borrowings in an amount equal to the lease payments under similar terms. The Company has elected the practical expedient to not separate non-lease components from the lease components to which they relate and instead account for each as a single lease component for all underlying asset classes. Some leasing arrangements require variable payments that are dependent on usage or may vary for other reasons, such as payments for insurance, tax payments and other miscellaneous costs. The variable portion of payments contemplated in the lease that do not depend on an index or rate are not included in the ROU assets or lease liabilities. Rather, variable payments that do not depend on an index or rate are expensed when the obligation for those payments is incurred and are included in lease expenses. Accordingly, all expenses associated with a lease contract are accounted for as lease expenses. The Company has also elected not to recognize ROU and lease liabilities for short-term leases that have a term of 12 months or less. The Company accounts for lease modifications as a separate contract when the modification (i) grants the lessee an additional right of use not included in the original lease contract, and (ii) increases the lease payments commensurate with the stand-alone price for the additional right of use. In this case, the Company would be treated as a new lease and measured in accordance with ASC 842 at the commencement date of the new lease without any impact on the existing lease. Otherwise, the Company accounts for lease modifications as a continuance of the existing lease, in which case, the Company reassesses the lease classification, remeasures the lease liability using an updated discount rate, and unless there is a full or partial termination of the lease, adjusts the ROU asset by the amount of change to the lease liability. For a full or partial lease termination, the lessee reduces the carrying amount of the ROU asset on a basis proportionate to the full or partial termination of the lease, and any difference between the adjustment to the ROU asset and the lease liability is recognized as a gain or loss in the current period.

Commitment and Contingencies The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

Stock-Based Compensation The Company recognizes stock-based compensation expense for equity awards granted to employees, directors and certain consultants. The Company estimates the fair value of stock options using the Black-Scholes option pricing model. The fair value of stock options granted is recognized as expense over the requisite service period on a straight-line basis.

Warrants The Company accounts for common stock warrants as either equity-classified or liability-classified instruments based on an assessment of the specific terms of the warrants and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, or meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock and whether the holders of the warrants could potentially require net cash settlement in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

Convertible Notes The Company accounts for its convertible notes as a long-term liability equal to the proceeds received from issuance, including the embedded conversion feature, plus any interest paid-in-kind, net of the unamortized debt issuance costs and debt discount on the consolidated balance sheets. The Company evaluates all embedded features contained in the convertible notes, such as the conversion feature, the paid-in-kind feature and the redemption feature in the event of a default, to determine if such features require bifurcation as a derivative. The conversion feature included in the convertible notes is not required to be accounted for separately as an embedded derivative because the conversion feature is considered both indexed to the Company’s own stock and qualifies to be classified in stockholders’ equity. The paid-in-kind feature is considered to be a commitment to originate a loan, and the terms of the additional loans have the same terms as the original debt instrument. Therefore, the paid-in-kind feature qualifies for the scope exception under the applicable accounting guidance and is not required to be bifurcated as a derivative. The redemption feature in the event of a default was determined to be clearly and closely related to the convertible notes and not required to be bifurcated as a derivative. Proceeds from the sale of convertible notes with stock purchase warrants are allocated to the two elements based on their relative fair values. The portion of the proceeds allocated to warrants are recorded as a debt discount to the convertible note proceeds and presented on a net basis in the consolidated balance sheet. Debt issuance costs directly attributable to the transaction are capitalized and allocated to the convertible notes and warrants in the same manner as the proceeds. The amount of debt issuance costs allocated to the convertible notes represent a reduction of the face value of the convertible note proceeds. The Company amortizes debt issuance costs and debt discounts over the contractual term of the convertible notes, using the effective interest method, as interest expense on the consolidated statements of operations.

Recent Accounting Standards Recently Adopted Accounting Standards In June 2022, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). The FASB issued ASU 2022-03 to (1) clarify the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) to amend a related illustrative example, and (3) to introduce new disclosure requirements for equity related securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The guidance was effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years with early adoption permitted. The adoption of this ASU did not have a material impact to the Company’s consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures, which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. ASU No. 2023-07 was effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. Early adoption was permitted, and the amendments should be applied retrospectively. The adoption of this ASU did not have an impact to the Company’s consolidated financial statements, but it did result in additional disclosures made in the notes to the consolidated financial statements. Recently Issued Accounting Standards to be Adopted In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements – Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU modified the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations. The amendments to the various topics should be applied prospectively, and the effective date will be determined for each individual disclosure based on the effective date of the SEC’s removal of the related disclosure. If the SEC has not removed the applicable requirements from Regulation S-X or Regulation S-K by June 30, 2027, then this ASU will not become effective. Early adoption is prohibited. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU is intended to improve disclosures about a public business entity’s expenses by requiring disaggregated disclosure, in the notes to the financial statements, of prescribed categories of expenses within relevant income statement captions. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 (as clarified in ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date). Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-04, Debt – Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This ASU clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU No. 2024-04 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted, and the amendments may be applied on either a prospective or retrospective basis. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements.

<table border="0" cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">4)</td> <td style="text-align: justify">Asset Acquisition</td></tr> </table> ASSET ACQUISITION On April 26, 2023, the Company entered into an asset purchase agreement (the “Exacis Purchase Agreement”), with Dilos Bio (formerly known as Exacis Biotherapeutics Inc. (“Exacis”)), the stockholders party thereto and, with respect to specified provisions therein, Factor Limited. Pursuant to the Exacis Purchase Agreement, the Company acquired from Exacis substantially all of Exacis’ intellectual property assets (the “Exacis Assets”), including all of Exacis’ right, title and interest in and to an exclusive license agreement between Exacis and Factor Limited (the “Purchased License”). The Company assumed none of Exacis’ liabilities, other than liabilities under the Purchased License that accrue subsequent to the closing date. The transactions contemplated by the Exacis Purchase Agreement (the “Exacis Acquisition”) closed on April 26, 2023. In consideration for the Exacis Assets, on the closing date of the transaction, the Company issued to Exacis approximately <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zQ92ZthwJx02" title="Shares acquisitions">5,000 shares of common stock, which shares were subject to a 12-month lockup that expired in April 2024. The shares were issued to Exacis at a price based on the Company having an assumed equity valuation of $<span id="xdx_903_ecustom--EstimatedEquityValueOfStockIssuedInAssetAcquisition_iI_pn5n6_c20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zlyCkvBdElT" title="Asset acquisition">75.0 million, divided by the number of issued and outstanding shares of common stock as of the close of business two trading days prior to the closing date. For accounting purposes, the shares issued were valued at $45.00 per share, which was the closing price of the Company’s common stock on the date of issuance. Additionally, the Company agreed to make the following contingent payments: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24.6pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 36pt">(i)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, at any time during the three<span id="xdx_902_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember_z9BWeemwDXz5" style="display: none" title="Commencement period of common stock in purchase agreement">3-year period commencing on the closing date and ending on the three<span id="xdx_904_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember_zh0M9kEoRkZh" style="display: none" title="Commencement period of common stock in purchase agreement">3-year anniversary of the closing date, the Company’s market capitalization equals or exceeds $<span id="xdx_90A_ecustom--MinimumCapitalizationRequirementAmount_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zqsKByhfYk0j" title="Minimum market capitalization requirement, amount">100.0 million for at least ten<span id="xdx_907_ecustom--NumberOfConsecutiveTradingDays_dtD_c20230426__20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zqhuE5rp7cOl" style="display: none" title="Number of consecutive trading days">10 consecutive trading days, then the Company will issue to Exacis a number of shares of common stock equal to (x) $<span id="xdx_906_ecustom--NumeratorValueForStockIssuance_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_z8MbNlwvNoga" title="Numerator value for stock issuance">2.0 million divided by (y) the quotient of $<span id="xdx_900_ecustom--MinimumCapitalizationRequirementAmount_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationOneMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zvsGCI9yM3" title="Minimum market capitalization requirement, amount">100.0 million divided by the number of the Company’s then issued and outstanding shares of common stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 33px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px">(ii)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, at any time during the three<span id="xdx_900_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember_zJdx8C2eqHw8" style="display: none" title="Commencement period of common stock in purchase agreement">3-year period commencing on the closing date and ending on the three<span id="xdx_901_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember_zU51y3alebOf" style="display: none" title="Commencement period of common stock in purchase agreement">3-year anniversary of the closing date, the Company’s market capitalization equals or exceeds $<span id="xdx_904_ecustom--MinimumCapitalizationRequirementAmount_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zYO9edsRXToe" title="Minimum market capitalization requirement, amount">200.0 million for at least ten<span id="xdx_90C_ecustom--NumberOfConsecutiveTradingDays_dtD_c20230426__20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zHW1LHXXFdJc" style="display: none" title="Number of consecutive trading days">10 consecutive trading days, then the Company will issue to Exacis a number of additional shares of common stock equal to (x) $<span id="xdx_90A_ecustom--NumeratorValueForStockIssuance_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_z2nS4kUswG4f" title="Numerator value for stock issuance">2.0 million divided by (y) the quotient of $<span id="xdx_90F_ecustom--MinimumCapitalizationRequirementAmount_iI_pn5n6_c20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationTwoMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_z31TErQwVZyh" title="Minimum market capitalization requirement, amount">200.00 million divided by the number of the Company’s then issued and outstanding shares of common stock (collectively with (i) above, the “Market Cap Contingent Consideration”); and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(iii)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">during the five<span id="xdx_905_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationThreeMember_zWvRw2CynUOa" style="display: none" title="Commencement period of common stock in purchase agreement">5-year period commencing on the closing date and ending on the five<span id="xdx_908_ecustom--CommencementPeriodOfCommonStockInPurchaseAgreement_dtY_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationThreeMember_zZ7aAZhiOO7f" style="display: none" title="Commencement period of common stock in purchase agreement">5-year anniversary of the closing date, the Company will pay or deliver to Exacis <span id="xdx_90C_ecustom--PercentageOfCashConsideration_pid_dp_c20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationThreeMember_zTdhFEEcZLNj" title="Percentage of cash consideration">20% of all cash or other consideration (collectively, “License Contingent Consideration”) actually received by the Company during such five-year period from (i) third-party licensees or sublicensees of the intellectual property rights acquired by the Company from Exacis pursuant to the Exacis Purchase Agreement, or (ii) subject to certain exceptions, the sale of such intellectual property rights; provided, that the License Contingent Consideration shall not in any event exceed $<span id="xdx_90C_eus-gaap--AssetAcquisitionConsiderationTransferredEquityInterestIssuedAndIssuable_pn5n6_c20230426__20230426__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationThreeMember__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zDilx2VQBTc" title="Cash or other consideration">45.0 million.</td></tr> </table> The Company accounted for the Exacis Acquisition as an asset acquisition because it determined that substantially all of the fair value of the assets acquired was concentrated in the Purchased License. Assets acquired in an asset acquisition are recognized based on their cost to the acquirer and generally allocated to the assets on a relative fair value basis. The Company’s cost for acquiring the Exacis Assets includes the issuance of the Company’s common stock, direct acquisition-related costs and contingent consideration. The Market Cap Contingent Consideration is indexed to or settled in the Company’s own shares. As a result, the Company classified the Market Cap Contingent Consideration as a liability measured at fair value because the financial instrument embodied a conditional obligation (the Company would only issue the shares on the condition that the market capitalization thresholds are met), and at inception, the monetary value of the obligation is based solely on a fixed monetary amount ($<span id="xdx_909_eus-gaap--BusinessCombinationContingentConsiderationLiability_iI_pn5n6_c20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zjMhH7TtnXBl" title="Market capitalization of monetary amount">2.0 million of shares for each target), which will be settleable with a variable number of the Company’s shares. The Company used a Monte Carlo simulation model to estimate the fair value of the Market Cap Contingent Consideration as of the acquisition date using the following assumptions: <p id="xdx_896_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zAQvdFbYuVUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: -0.1pt"> SCHEDULE OF FAIR VALUATION OF ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20230426_z2yMiEPN9HJl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z6LjKKlrN9l1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">45.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zly20PVoRR31" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.58</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zUm6aFaL2UNk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zNcBhZGJg0I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zNzknNVzhPaf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants, Measurement Input</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.0 years</td><td style="text-align: left"> </td></tr> </table> See Note 9 for more information on the fair value measurement of the Market Cap Contingent Consideration as of December 31, 2024 and 2023. The License Contingent Consideration is to be settled in cash and is generally recognized when the liability is probable and estimable. As of the acquisition date, the Company concluded that paying the License Contingent Consideration was not probable or estimable. Therefore, there was no initial liability recognized for the License Contingent Consideration. The Company also did not record a liability at December 31, 2024 or 2023, as the Company continued to conclude that such payment was not probable. The table below shows the total fair value of the consideration paid for the Exacis Assets (in thousands). SCHEDULE OF FAIR VALUE MEASUREMENT OF ASSETS ACQUIRED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zdTVjwDipiB8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value of Consideration</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AssetAcquisitionConsiderationTransferredEquityInterestIssuedAndIssuable_iN_pn3n3_di_msRADIPzfIa_zNn3xAqmmtHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Shares issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">208</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AssetAcquisitionFairValueOfConsiderationPaid_iN_pn3n3_di_msRADIPzfIa_z54EoSDTljBe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contingent consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">225</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetAcquisitionConsiderationTransferredTransactionCost_iN_pn3n3_di_msRADIPzfIa_z1Jmydze59yk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Direct costs</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> 27</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ResearchAndDevelopmentInProcessAssetAcquisition_iT_pn3n3_mtRADIPzfIa_zE0fYwpwuxFi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Total fair value</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">460</td><td style="text-align: left"> </td></tr> </table> The Company allocated 100% of the fair value of the consideration to the Purchased License, which the Company determined is an in-process research and development (“IPR&D”) asset. IPR&D assets acquired through an asset purchase that have no alternative future uses and no separate economic values from their original intended purpose are expensed in the period the cost is incurred. As a result, the Company expensed the fair value of the Purchased License during the year ended December 31, 2023. On September 24, 2024, in connection with entering into the Exclusive License and Collaboration Agreement (“the Factor L&C Agreement”) with Factor Bioscience Limited (“Factor Limited”), the Purchased License was assigned back to Factor Limited. See Note 11 for more information on the Factor L&C Agreement.

5000

P12M 75000000.0 45.00 P3Y P3Y 100000000.0 P10D 2000000.0 100000000.0 P3Y P3Y 200000000.0 P10D 2000000.0 200000000.00 P5Y P5Y 0.20

45000000.0

2000000.0

<p id="xdx_896_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zAQvdFbYuVUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: -0.1pt"> SCHEDULE OF FAIR VALUATION OF ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20230426_z2yMiEPN9HJl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z6LjKKlrN9l1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">45.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zly20PVoRR31" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.58</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zUm6aFaL2UNk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zNcBhZGJg0I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zNzknNVzhPaf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants, Measurement Input</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.0 years</td><td style="text-align: left"> </td></tr> </table>

45.00

3.58

100

P3Y

The table below shows the total fair value of the consideration paid for the Exacis Assets (in thousands). SCHEDULE OF FAIR VALUE MEASUREMENT OF ASSETS ACQUIRED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230426__20230426__us-gaap--TypeOfArrangementAxis__custom--ExacisAssetPurchaseAgreementMember_zdTVjwDipiB8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value of Consideration</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AssetAcquisitionConsiderationTransferredEquityInterestIssuedAndIssuable_iN_pn3n3_di_msRADIPzfIa_zNn3xAqmmtHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Shares issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">208</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AssetAcquisitionFairValueOfConsiderationPaid_iN_pn3n3_di_msRADIPzfIa_z54EoSDTljBe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contingent consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">225</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetAcquisitionConsiderationTransferredTransactionCost_iN_pn3n3_di_msRADIPzfIa_z1Jmydze59yk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Direct costs</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> 27</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ResearchAndDevelopmentInProcessAssetAcquisition_iT_pn3n3_mtRADIPzfIa_zE0fYwpwuxFi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Total fair value</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">460</td><td style="text-align: left"> </td></tr> </table>

-208000

-225000

-27000

460000 1

<table border="0" cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">5)</td> <td style="text-align: justify">Contract with Customer</td></tr> </table> CONTRACT WITH CUSTOMER On February 21, 2023, the Company and Lineage Cell Therapeutics, Inc. (“Lineage”) entered into an exclusive option and license agreement (the “Lineage Agreement”), which provided Lineage with the option (the “Option Right”) to obtain an exclusive sublicense of intellectual property from the Company and to request the Company to develop a customized cell line (the intellectual property that would be sublicensed by Lineage is currently licensed by the Company from Factor Limited). The Lineage Agreement was amended in August 2023 to provide for changes specifically related to the cell line customization activities such as (i) payment terms, (ii) certain definitions, (iii) certain courses of action if the customized cell line selected by Lineage is not successful and (iv) documentation requirements. Lineage paid the Company a $0.3 million non-refundable up-front payment (the “Option Fee”) for the Option Right and paid an initial payment of $0.4 million to commence the cell line customization activities, per the amended payment terms. If Lineage obtained the sublicense, the Company would be entitled to receive additional license fees, including milestone payments and royalties. On September 24, 2024, the Company and Factor Bioscience (as defined in Note 11) entered into an agreement (the “Lineage Assignment Agreement”) under which the Company assigned the Lineage Agreement to Factor Bioscience. The Company’s rights and obligations under the agreement are now the responsibility of Factor Bioscience. Payments to the Company related to the Lineage Agreement will be subject to the Lineage Assignment Agreement, which provides for Factor Bioscience paying the Company thirty percent (30%) of all amounts it actually receives from Lineage in the event that Lineage exercises its Option Right. Upon receipt of payment for the customization activities set forth in the Lineage Agreement, Factor Bioscience will pay the Company twenty percent (<span id="xdx_908_ecustom--PaymentsPercentage_iI_pid_dp_uPure_c20240924__us-gaap--TypeOfArrangementAxis__custom--LineageAssignmentAgreementMember__dei--LegalEntityAxis__custom--FactorBioscienceLimitedMember_z2HDlk4uOqvb" title="Payments, percentage">20%) of all amounts Factor Bioscience receives from Lineage. Prior to the Lineage Assignment Agreement entered into on September 24, 2024, the Company accounted for the Lineage Agreement under ASC 606 and determined that the Option Right was an unexercised right held by Lineage under the Lineage Agreement at contract inception, as the cell line customization activities and the sublicense were optional purchases at contract inception. These optional purchases of goods and services would be treated as separate contracts if and when Lineage determines that it would make such purchases. Therefore, 100% of the Option Fee was allocated to the Option Right. The Option Fee would remain in deferred revenue until such time that Lineage entered into the sublicense or when the Option Right expired. However, as a result of the Lineage Assignment Agreement, and there being no further obligations regarding the nonrefundable payment related to the Option Right, the Company recognized the $0.3 million Option Right payment in full as revenue during the year ended December 31, 2024. The Option Right and the cell line customization activities were accounted for as separate contracts, and the Company determined that the amended terms discussed above represented a modification to the cell line customization contract. Because there were no goods or services transferred to Lineage before entering into the amendment, and therefore, no previously recognized revenue, there was no catch-up adjustment to revenue required at the time of the amendment. Lineage was to make payments to the Company for the cell line customization activities over the development period. The Company would only earn the remaining full amount of the cell line customization fee if it made certain progress towards delivery of the customized cell line. The Company determined that $<span id="xdx_905_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zj8HrsgGw6E5" title="Revenue recognized">0.4 million of consideration received could be recognized without the probability of being reversed, and it placed a constraint on the remaining contractual customization fee. The $<span id="xdx_905_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zuAbBNdgoUkl" title="Revenue recognized">0.4 million was being recognized equally over the development period. However, as a result of the Lineage Assignment Agreement, and there being no further obligations the Company must fulfill for the customization activities, the Company accelerated the recognition of the remaining deferred revenue and recognized approximately $0.3 million during the year ended December 31, 2024. The Company recognized approximately $0.1 million in revenue during the year ended December 31, 2023 related to the customization activities. The Company recognized direct labor and supplies used in the customization activities as incurred, which are recorded as a cost of revenue. As provided for in the A&R Factor License Agreement discussed in Note 11, the Company was obligated to pay Factor Limited 20% of any amounts the Company received from a customer that was related to the licensed technology under the A&R Factor License Agreement, which is also recorded as a cost of revenue. For the year ended December 31, 2023, the Company recognized $0.1 million in license fees, which is recorded in cost of revenues, due to Factor Limited. There was no such license fee incurred during the year ended December 31, 2024. As provided for in the Lineage Assignment Agreement, the Company recorded a receivable of approximately $0.1 million during the year ended December 31, 2024 related to amounts Factor Bioscience owes to the Company related to the customization activities, which is recognized in other income (expense), net in the accompanying consolidated statement of operations. There were no amounts due from Factor Bioscience during the year ended December 31, 2023.

300000 400000 0.30 0.20

300000

400000

300000

100000

0.20 100000 0

100000

<table border="0" cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">6)</td> <td style="text-align: justify">Debt and Equity Financings</td></tr> </table> DEBT AND EQUITY FINANCINGS Promissory Notes On December 8, 2023, the Company received $1.5 million in exchange for the issuance of 6% promissory note with an aggregate principal amount of $1.5 million to an investor. The promissory note was to mature on January 8, 2024, and interest accrued at a rate of 6.0% per annum, payable at maturity. On December 14, 2023, the Company repaid the $1.5 million of principal and $<span id="xdx_908_eus-gaap--InterestExpenseDebtExcludingAmortization_c20231214__20231214__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zLJTlOI6otKj" title="Accrued interest due under the promissory note">1,500 of accrued interest due under the promissory note. There are no further obligations under the promissory note. On March 11, 2025, the Company received $<span id="xdx_90C_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zP8ubF7icjNe" title="Convertible notes, net">1.5 million in exchange for the issuance of a promissory note with an aggregate principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zPb3fOOBSBI2" title="Aggregate principal amount">1.5 million to an investor. See Note 19 for more information on this subsequent event. Convertible Notes Financings On July 14, 2023, the Company received $<span id="xdx_903_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20230714__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_ztSsSj6eKCZ2" title="Convertible notes, net">8.7 million from a private placement in which the Company issued $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20230714__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zsHDmd90jVqk" title="Aggregate principal amount">8.7 million in aggregate principal amount of convertible notes (the “July 2023 Convertible Notes”) and warrants to purchase an aggregate of approximately <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pn5n6_c20230714__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zxsE9cJ2vCRg" title="Warrants to purchase common shares">0.4 million shares of its common stock (the “July 2023 Warrants”). The Company recognized approximately $<span id="xdx_900_ecustom--TransactionFeesRelatedToDebtIssuanceAndWarrants_pn5n6_c20230714__20230714__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zFKulfmvFPWe" title="Transaction fees">0.2 million in fees associated with the transaction. On December 14, 2023, the Company entered into a purchase agreement with certain purchasers for the private placement of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20231214__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zAU2tXC28y59" title="Aggregate principal amount">9.2 million of convertible notes (the “December 2023 Convertible Notes” and together with the July 2023 Convertible Notes, the “Convertible Notes”) and warrants to purchase an aggregate of approximately <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pn5n6_c20231214__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zLI7gBaFvYCb" title="Warrants to purchase common shares">0.6 million shares of the Company’s common stock (the “December 2023 Warrants” and together with the July 2023 Warrants, the “Note Warrants”). There were two closings under the December 14, 2023 purchase agreement – one on December 15, 2023 and the second on January 11, 2024. At the first closing, the Company received $<span id="xdx_90C_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20231215__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_z0chdoKmLET2" title="Convertible notes">7.8 million and issued $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20231215__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_z9ZWsmz21shl" title="Aggregate principal amount">7.8 million of December 2023 Convertible Notes and December 2023 Warrants to purchase approximately <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pn5n6_c20231215__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zwk28n8XMWUj" title="Warrants to purchase common shares">0.5 million shares of its common stock. At the second closing, the Company received $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240111__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_z4dhCajRGZoi" title="Aggregate principal amount">1.4 million and issued $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240111__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zQbYsbGbakb4" title="Aggregate principal amount">1.4 million of December 2023 Convertible Notes and December 2023 Warrants to purchase approximately <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pn5n6_c20240111__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBjTeaB3o2wi" title="Warrants to purchase common shares">0.1 million shares of its common stock. See Note 16 for more information on the Note Warrants. The interest rates for the July 2023 Convertible Notes and the December 2023 Convertible Notes were <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230731__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zSqlWdCW1eB3" title="Interest rate">6% per year and <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zWH13WjthWcf" title="Interest rate">12% per year, respectively, both of which were payable quarterly in arrears. At the Company’s election, it may pay interest either in cash or in-kind by increasing the outstanding principal amount of the Convertible Notes. The Convertible Notes were to mature on the five5-year anniversary of the date of their issuance, unless earlier converted or repurchased. The Company did not have the option to redeem any of the Convertible Notes prior to maturity. The Company recognized approximately $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zXYGVNdHOqk6" title="Conversion price">2.8 million and $<span id="xdx_906_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_z6gmfprPAI34" title="Conversion price">0.6 million in interest expense for the years ended December 31, 2024 and 2023 for the Convertible Notes, respectively, which includes both the amortization of debt issuance costs and interest recognized on the Convertible Notes as follows (in thousands): SCHEDULE OF INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember_zsMcaLsBCx45" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230101__20231231__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember_zaYXegCI8Q3b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpenseOperating_pn3n3_maIEOzFrB_zvaSFVf6B51a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Interest</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,399</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">291</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIEOzFrB_zXXl13C7OK44" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">303</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestExpense_iT_pn3n3_mtIEOzFrB_za4LmjwxcXea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,771</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">594</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The $1.4 million and $0.3 million in interest for the years ended December 31, 2024 and 2023, respectively, were paid in-kind and added to the principal of the Convertible Notes, which became part of the Exchange Transactions discussed below. At the option of the holders, the Convertible Notes may be converted into shares of the Company’s common stock at an initial conversion price of, with respect to the July 2023 Convertible Notes, $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20230731__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zEPuLuQt48v4" title="Initial conversion rate">42.90 per share and, with respect to the December 2023 Convertible Notes, $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zP9dCVERnTo4" title="Initial conversion rate">28.79 per share, subject to customary adjustments for stock splits, stock dividends, recapitalization and the like. In connection with the issuance of the December 2023 Convertible Notes, the Company agreed to reduce the exercise price of the warrants the Company issued in a private placement in December 2022 (the “December 2022 Warrants”) (see Note 16) to purchase an aggregate of approximately <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pn5n6_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIKSdGsTVUQ8" title="Warrants to purchase common shares">0.3 million shares of the Company’s common stock from $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zw1OimDtl5q2" title="Warrant exercise price">49.20 to $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zc5k4WAXPFp4" title="Warrant exercise price">21.45 per share and of the July 2023 Warrants from $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zG6v5Pnx5dG5" title="Warrant exercise price">39.15 to $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zvcEkC9rXQx3" title="Warrant exercise price">21.45 per share. The effect of the reduction of the exercise price of these warrants was approximately $1.6 million and measured as the excess of the fair value of the modified instruments over the fair value of the instruments immediately before they were modified. The change in the fair value of the repriced warrants was considered an issuance cost to the December 2023 Convertible Notes and December 2023 Warrants. As such, the $1.6 million was allocated to each of those respective instruments based on their relative fair values, or approximately $<span id="xdx_90E_ecustom--EffectOfReductionOfExercisePriceOfWarrants_iI_pn5n6_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zx2K8WUTsWba" title="Effect of reduction of exercise price"><span id="xdx_900_ecustom--EffectOfReductionOfExercisePriceOfWarrants_iI_pn5n6_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zquJz9LZBERl" title="Effect of reduction of exercise price">0.8 million to each of the December 2023 Convertible Notes and December 2023 Warrants. The Company determined that there were no embedded derivatives within the Convertible Notes that required bifurcation from the host agreement. The Company allocated the gross proceeds received, the fees incurred, and as applicable, the impact of repricing the warrants discussed above, over the July 2023 Convertible Notes and July 2023 Warrants and over the December 2023 Convertible Notes and December 2023 Warrants, as applicable, based on their relative fair values as follows (in thousands): SCHEDULE OF BASED ON RELATIVE FAIR VALUE ALLOCATION OF PROCEEDS AND COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">July 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zTTOqYWu20A9" style="width: 9%; text-align: right" title="Relative Fair Value">8,715</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zQhIaEIxYku7" style="width: 9%; text-align: right" title="Allocation Percentage">39.94</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zdScN4iFtIRf" style="width: 9%; text-align: right" title="Proceeds">3,481</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zSVbLRcHsYdi" style="width: 9%; text-align: right" title="Costs">(80</td><td style="width: 1%; text-align: left">)</td><td id="xdx_982_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zPQoiIgXSC1e" style="width: 2%" title="Costs"> (766)</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_z3ndxVU0PPJl" style="width: 9%; text-align: right">3,401</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">July 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z9X9RyVApqE3" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">13,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zjxZVagt7K62" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">60.06</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zQC33rpolDd8" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">5,234</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zY9qY5FWaFYi" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(121</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zsZEuuidl75a" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">5,113</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714_zsSvyuqyHZT9" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">21,818</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714_zi8LmScfoyG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714_zkIZZH7bUDzk" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">8,715</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714_zD2gL2hdDUgl" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(201</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714_z1visHbZra8g" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">8,514</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 2023 Closing</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Repricing</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">December 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zBrW8I1f9c8b" style="width: 6%; text-align: right" title="Relative Fair Value">9,059</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_ziA1vKjHYL55" style="width: 6%; text-align: right" title="Allocation Percentage">48.83</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zzifEGDTN8Zh" style="width: 6%; text-align: right" title="Proceeds">3,803</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zooHcS86Mcde" style="width: 6%; text-align: right" title="Costs">(81</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_z0OTtOCOftTh" style="width: 6%; text-align: right" title="Costs">(766</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zCd5PsUoTGKd" style="width: 6%; text-align: right">2,956</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">December 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_z1b4ssAe47Ce" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">9,495</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zk8DPxOxqdTd" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">51.17</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zlkHMphjv8qf" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">3,985</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_znS5sf6LWeE2" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(85</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zO3kuuTNX15c" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(802</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_z7so3iVwHocg" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">3,098</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215_zfec3zWxOZdl" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">18,554</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215_z8GQNMwoY68f" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215_z7DGIBen0239" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">7,788</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215_zVr3VRwDu9ud" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(166</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--WarrantRepricing_pn3n3_c20231215__20231215_zLzxrLpR4uVf" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrant Repricing">(1,568</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215_zzYOHcYdFaf7" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">6,054</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 2024 Closing</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">December 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_znyM9JsaKHC6" style="width: 9%; text-align: right" title="Relative Fair Value">1,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zHJXTPDsF5o2" style="width: 9%; text-align: right" title="Allocation Percentage">46.24</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zptYBDMzdk5l" style="width: 9%; text-align: right" title="Proceeds">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_ztLSSRrxKWZe" style="width: 9%; text-align: right" title="Costs">(31</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zGscvlqvAjil" style="width: 9%; text-align: right">619</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">December 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zZgdKZQGqjIg" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">2,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zwwGJgW3H6k4" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">53.76</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zNudGHaGMBpd" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">755</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zGn7kqCEw8Lf" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(35</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zqFrXvfAmxI8" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">720</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111_zXttU5lw04fl" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">3,785</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111_zIfYF4WzCjHd" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111_z3EaO5N3NXwi" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">1,405</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111_zTKVk1UTgnaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(66</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111_zbVdxp3nvH5a" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">1,339</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock_zQ15lPmxMRs4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company estimated the fair values of the Convertible Notes as of July 14, 2023, December 15, 2023 and January 11, 2024 based off a valuation performed by a third-party specialist using a binomial tree model and the following assumptions: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Credit Spread</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Volatility</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Risk-Free Rate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">July 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">7/14/2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zzOxRqHcnHka" style="width: 9%; text-align: right" title="Stock Price">42.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_zEi9Yw7kJqK3" style="width: 9%; text-align: right" title="Stock Price">2,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zmO2OXTGBHG2" style="width: 9%; text-align: right" title="Stock Price">108</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zsgwMf7VsdUh" style="width: 9%; text-align: right" title="Stock Price">4.60</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 Convertible Notes</td><td> </td> <td style="text-align: right">12/15/2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z6cQDXSS8qS" style="text-align: right" title="Stock Price">22.65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_zSykhFcp2FU8" style="text-align: right" title="Stock Price">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zOPzuACI1D87" style="text-align: right" title="Stock Price">109</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zYg0lYWzAAi" style="text-align: right" title="Stock Price">3.90</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 2023 Convertible Notes</td><td> </td> <td style="text-align: right">1/11/2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z3HRmhVGsS51" style="text-align: right" title="Stock Price">26.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_z71HPlm6FKRa" style="text-align: right" title="Stock Price">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z3izxQOgMIN5" style="text-align: right" title="Stock Price">109</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zZ1D1AbPoAi3" style="text-align: right" title="Convertible note, Measurement input">3.90</td><td style="text-align: left">%</td></tr> </table> The fair value of the Note Warrants, all of which qualified for equity classification, was determined using the Black-Scholes pricing model as of each of July 14, 2023, December 15, 2023 and January 11, 2024 using the following assumptions: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expected Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Volatility</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dividend</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Risk-Free Rate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%">July 2023 warrants</td><td style="width: 2%"> </td> <td style="width: 7%; text-align: right">7/14/2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zXZQdiLHOwxe" style="width: 5%; text-align: right" title="Stock Price">39.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zDMYY9Q3U1V7" style="width: 5%; text-align: right" title="Exercise Price">39.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 7%; text-align: center"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230714__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z4L9ABRbMVcj" title="Expected life">5 years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zxphJ9PrBwTf" style="width: 5%; text-align: right" title="Volatility">98</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zjzAmb65vk4b" style="width: 5%; text-align: right" title="Dividend">0.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z26kI0RWa5Al" style="width: 5%; text-align: right" title="Dividend">4.04</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 warrants</td><td> </td> <td style="text-align: right">12/15/2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zxi8GR7ScvWl" style="text-align: right" title="Stock Price">22.64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zEQJwdYx3Ssl" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231215__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zvBodWjcX3u" title="Expected life">5 years</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zPwz4qrRbFR" style="text-align: right" title="Volatility">101</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zm6DQJ9T5FJe" style="text-align: right" title="Dividend">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zMHYG81oHmM3" style="text-align: right" title="Dividend">3.91</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 2023 warrants</td><td> </td> <td style="text-align: right">1/11/2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zruUWvAg6Xp5" style="text-align: right" title="Stock Price">26.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_z37vxEcVw3th" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240111__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zQUcmrRV7Yya" title="Warrants, Expected life">5 years</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zWLwr944cC8g" style="text-align: right" title="Volatility">102</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z9zqz8HOWzgd" style="text-align: right" title="Dividend">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zUw8Jupkdgp8" style="text-align: right" title="Warrants, Measurement input">3.90</td><td style="text-align: left">%</td></tr> </table> The amount of proceeds allocated to the Note Warrants resulted in a corresponding reduction in the carrying value of the respective convertible notes as a debt discount, which is amortized with the debt issuance costs as a component of interest expense based on the effective interest rate method over the contractual terms of the convertible notes. On October 29, 2024, all of the Convertible Notes were exchanged for common stock pursuant to the Exchange Transactions (as discussed further below) and as part of the September 2024 Transactions (as defined below) that the Company’s stockholders approved at the Company’s annual meeting of stockholders on October 29, 2024 (the “Annual Meeting). As of December 31, 2024, there were no Convertible Notes outstanding. Bridge Notes Financing On September 24, 2024, the Company entered into a purchase agreement with certain purchasers for the private placement of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zlEaA0bmkQHe" title="Aggregate principal amount">3.9 million of convertible notes (the “Bridge Notes”). The interest rate on the Bridge Notes was 12% per year, payable quarterly in arrears. At the Company’s election, it may pay interest either in cash or in-kind by increasing the outstanding principal amount of the Bridge Notes. The Bridge Notes were to mature on the one<span id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z6ZExlYSP7h7" style="display: none">1-year anniversary of the date of their issuance, unless earlier converted or repurchased. The Company did not have the option to redeem any of the Bridge Notes prior to maturity. The Bridge Notes financing closed on September 24, 2024. The only conversion event for the Bridge Notes was upon stockholder approval at the Annual Meeting, in which case, <span id="xdx_901_ecustom--RepurchasePricePercentageToPrincipalAmount_pid_uPure_c20240101__20241231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zp6YwVBUWaV2" title="Repurchase price percentage">100% of the principal amount of the Bridge Notes plus all accrued and unpaid interest thereon, and interest that would have accrued on the principal amount through December 24, 2024, would automatically convert into shares of the Company’s common stock at a conversion price of $<span id="xdx_90C_eus-gaap--CommonStockConvertibleConversionPriceDecrease_pid_c20240101__20241231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z4zvHYTCEkvb" title="conversion price">7.50. Otherwise, the Bridge Notes could only be paid in cash upon maturity. The Company was required to bifurcate the conversion feature from the Bridge Notes and record it as a derivative liability at its fair value. The Company determined the fair value of the derivative liability by taking the difference between the fair value of the Bridge Notes with the conversion feature and without the conversion feature, which resulted in the Company recording a $<span id="xdx_902_eus-gaap--DerivativeLiabilities_iI_pn5n6_c20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zzHawTqsFJ21" title="Derivative liabilities">5.5 million derivative liability, with a corresponding $<span id="xdx_908_ecustom--ReductionInCarryingAmountOfDebt_pn5n6_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z0g0mXPNsUxi" title="Reduction in carrying amount">3.9 million reduction in the carrying value of the Bridge Notes recorded as a debt discount and a $<span id="xdx_900_ecustom--IncrementalFairValueExpenses_pn5n6_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z3AFFqaAduF" title="Incremental fair value expenses">1.6 million charge to expense for the incremental fair value of the derivative liability as of September 24, 2024. The debt discount was amortized as a component of interest expense. The Company remeasured the fair value of the Bridge Notes derivative liability at each reporting period and recorded a reduction in the liability of $<span id="xdx_905_eus-gaap--DerivativeLiabilities_iI_pn5n6_c20241231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zk6DDZ7SS2I8" title="Derivative liabilities">0.2 million for the year ended December 31, 2024. On October 29, 2024, all of the Bridge Notes were converted to common stock as part of the September 2024 Transactions (as defined below) that the Company’s stockholders approved at the Annual Meeting. The Company recognized $3.9 million in interest expense for the year ended December 31, 2024 for the Bridge Notes, which includes both the acceleration of the amortized debt issuance costs as a result of the conversion of the Bridge Notes to common stock and interest recognized on the Bridge notes as follows (in thousands): <p id="xdx_89E_ecustom--ScheduleOfInterestExpenseTableTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zJZt3B65laE8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> SCHEDULE OF INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z388Ay9TDfqh" style="font-weight: bold; text-align: center">Year ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseOperating_pn3n3_maIEOzFrB_zOnVRPBpU0fh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Interest</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">45</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIEOzFrB_zeYrAVa0Vw04" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpense_iT_pn3n3_mtIEOzFrB_zBpOSbZU6Zne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,932</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There was no interest expense recognized on the Bridge Notes for the year ended December 31, 2023. The interest recognized on the Bridge Notes of less than $<span id="xdx_906_eus-gaap--InterestExpenseOperating_pn5n6_c20241001__20241031__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember__srt--RangeAxis__srt--MaximumMember_zuSvx0WegFa6" title="Interest expense">0.1 million was paid in-kind and added to the principal of the Bridge Notes as part of the conversion to common stock that occurred in October 2024. As of December 31, 2024, there were no Bridge Notes outstanding. Exchange Transaction On September 24, 2024, the Company entered into exchange agreements (the “Exchange Agreements”) with the holders of (i) warrants to purchase an aggregate of approximately <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pn5n6_c20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zo74oRLsGFNj" title="Warrants purchase">0.3 million shares of our common stock the Company issued in December 2022 with an exercise price of $21.45 per share (the “December 2022 Warrants”); (ii) the Note Warrants (and when combined with the December 2022 Warrants, the “Exchanged Warrants”); and (iii) the Convertible Notes. The parties to the Exchange Agreements represented the holders of all the outstanding Convertible Notes and all the outstanding Exchanged Warrants described above except for a December 2022 Warrant to purchase approximately <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pn3n3_c20240924__us-gaap--AwardDateAxis__custom--DecemberTwoThousandTwentyTwoConvertibleNotesMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zTPzetiYqMV4" title="Warrants purchase">9,000 shares of our common stock. Subject to approval by the Company’s stockholders at the Annual Meeting, under the Exchange Agreements (i) the holders of the Exchanged Warrants agreed to exchange all their warrants for shares of the Company’s common stock at an exchange ratio of 0.5 of a share of common stock for every one share of common stock issuable upon exercise of the applicable warrant (rounded up to the nearest whole number), and (ii) the holders of the Convertible Notes agreed to exchange all their Convertible Notes for shares of the Company’s common stock at an exchange ratio equal to (A) the sum expressed in U.S. dollars of (1) the principal amount of the applicable Convertible Note, plus (2) all accrued and unpaid interest thereon through the date the applicable Convertible Note is exchanged plus (3) all interest that would have accrued through, but not including, the maturity date of applicable Convertible Note if it was outstanding from the date such Convertible Note is exchanged through its maturity date (the sum of (A) totaling approximately $28.4 million), divided by (B) $15.00 (rounded up to the nearest whole number) (the “Exchange Transactions”). The Company determined that the modifications to the Convertible Notes at September 24, 2024 should be accounted for as an extinguishment of debt because there was at least a 10% change in the cash flows of the modified debt instrument compared to the carrying amount of the original debt instrument, and as such, the difference between the reacquisition price (which includes any premium) and the net carrying amount of the debt being extinguished (which includes any deferred debt issuance costs) should be recognized as a gain or loss when the debt is extinguished. As of September 24, 2024, prior to entering into the Exchange Agreements, there was approximately $10.1 million of net carrying amount of the Convertible Notes, which was comprised of $<span id="xdx_90A_eus-gaap--DebtInstrumentIncreaseAccruedInterest_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_z2EMuIWJuLu3" title="principal and accrued interest">19.4 million of principal and accrued interest through such date, offset by approximately $<span id="xdx_909_eus-gaap--DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_iI_pn5n6_c20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zy7t0K9Jf1si" title="Unamortized debt issuance costs">9.3 million of unamortized debt issuance costs. The fair value of the Convertible Notes was $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zGf5dErefBq8" title="Fair value of reacquired convertible notes">32.0 million and was determined by multiplying approximately <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zOhXSj42Gnf6" title="Fair value of reacquired convertible notes, shares">1,890,000 shares the Company would be issuing on October 29, 2024 by the closing stock price of $16.95 per share on September 24, 2024. The difference between the reacquisition price and the net carrying amount of the Convertible Notes being extinguished was approximately $21.9 million. Accordingly, the Company increased the carrying value of the reacquired Convertible Notes to $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_z6KuCGZQMM6h" title="Fair value of reacquired convertible notes">32.0 million and recognized a loss on extinguishment of debt of approximately $21.9 million. As discussed further below, upon conversion of the Convertible Notes to shares of common stock on October 29, 2024, the Company recorded $1.0 million in income for the change in fair value of the shares of common stock being issued. Because shareholder approval was required for the Exchange Transactions to occur, the Company determined that the modifications to the Exchanged Warrants resulted in a change in classification from equity to liability. A provision that requires shareholder approval precludes equity classification because such approval is not an input into a fixed-for-fixed valuation model. As a result, the Company recorded the Exchanged Warrants at fair value as of September 24, 2024 by taking the number of shares of common stock issuable from the exchanged warrants multiplied by the closing stock price of $16.95 and reclassifying approximately $<span id="xdx_90E_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zwq4xwK2ZfR2" title="Reclassification of warrants">11.2 million from equity to warrant liabilities. The Company then marked-to-market the Exchanged Warrants at each reporting period by taking the same quantity of shares multiplied by the closing stock price on such date and for the year ended December 31, 2024, recognized a reduction to the warrant liabilities of $0.3 million. Equity Financing On September 24, 2024, the Company entered into a securities purchase agreement (the “SPA”) with certain accredited investors to sell in a private placement an aggregate of approximately <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z5piQ0oJmqth" title="Sale of stock, number of shares issued in transaction">101,000 shares of the Company’s common stock (or, in lieu thereof, pre-funded warrants to purchase one share of our common stock) for a purchase price of $11.25 per share of common stock and $11.175 per pre-funded warrant (the “Common Stock Private Placement” and together with the Bridge Notes and the Exchange Transactions, the “September 2024 Transactions”). The closing of the Common Stock Private Placement was conditioned upon receiving stockholder approval at the Annual Meeting. The SPA represented a forward sale contract obligating the Company to sell a fixed number of shares of its common stock at a fixed price per share upon obtaining shareholder approval at the Annual Meeting. The Company measured the fair value of the forward sale contract as the difference between (A) the fair value of the expected shares to be purchased by the investors as of the date the Company entered into the SPA and (B) the purchase price of the shares and recorded approximately $0.6 million to additional paid-in capital as of September 24, 2024. Because of the concurrent execution of the SPA and the Exchange Agreements, and because the investors in the SPA are also parties to the Exchange Transactions, the $<span id="xdx_904_eus-gaap--ExtinguishmentOfDebtGainLossNetOfTax_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z19bfwS5QR13" title="Loss on extinguishment of debt">0.6 million was added to the $<span id="xdx_902_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zadRhP6Qwyyb" title="Loss on extinguishment of debt">21.9 million loss on extinguishment of debt discussed above for a total loss of $22.4 million during the year ended December 31, 2024. On October 29, 2024, the Company held its Annual Meeting, the Company’s stockholders approved the September 2024 Transactions, and as a result, the following occurred on October 29, 2024: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Under the Common Stock Private Placement, the Company issued approximately 93,000 shares of common stock and pre-funded warrants to purchase approximately <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zLh96XGP5hq" title="Prefunded warrant to purchase">8,000 shares of common stock and received approximately $1.1 million in gross proceeds from the issuance of such securities. The pre-funded warrants have an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zTg1alJgpY32" title="Warrant exercise price">0.075 per share, are exercisable at any time and will not expire until exercised in full.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Under the Bridge Notes, approximately $3.0 million of the principal amount of the Bridge Notes plus all accrued and unpaid interest thereon, plus such amount of interest that would have accrued on the principal amount through December 24, 2024, was automatically converted at a conversion price of $7.50 into approximately 416,000 shares of the Company’s common stock and approximately $0.9 million of the principal amount of the Bridge Notes plus all accrued and unpaid interest thereon, plus such amount of interest that would have accrued on the principal amount through December 24, 2024, was automatically converted at a conversion price of $7.50 into pre-funded warrants to purchase approximately<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241224__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_zsuKc1rBtVEa" title="Prefunded warrant to purchase"> 118,000 shares of common stock. The pre-funded warrants have an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241224__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_zmkjv61sJYth" title="Warrant exercise price">0.075 per share, are exercisable at any time and will not expire until exercised in full. As of October 29, 2024, there were no Bridge Notes outstanding.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Under the Exchange Transactions, (i) the holders of the Exchanged Warrants exchanged approximately <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241029__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_z4Dx4xDmbQei" title="warrants">1,327,000 warrants for approximately <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20241029__20241029__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_z6u2TtqH25Ye" title="Issuance of shares">663,000 shares of the Company’s common stock, and (ii) the holders of the Convertible Notes exchanged all their Convertible Notes for approximately 1,890,000 shares of our common stock for a total of 2,553,000 shares of our common stock under the Exchange Transactions. As of October 29, 2024, there were no Convertible Notes outstanding.</td></tr></table>

1500000

0.06

1500000

2024-01-08

0.060

1500000

1500

1500000

8700000

400000

200000

9200000

600000

7800000

500000

1400000

100000

0.06

0.12

P5Y

2.8

0.6

SCHEDULE OF INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember_zsMcaLsBCx45" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230101__20231231__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember_zaYXegCI8Q3b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpenseOperating_pn3n3_maIEOzFrB_zvaSFVf6B51a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Interest</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,399</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">291</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIEOzFrB_zXXl13C7OK44" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">303</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestExpense_iT_pn3n3_mtIEOzFrB_za4LmjwxcXea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,771</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">594</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1399000

291000

1372000

303000

2771000

594000

1400000

300000

42.90

28.79

300000

49.20

21.45

39.15

21.45

1600000 1600000 800000 800000

The Company determined that there were no embedded derivatives within the Convertible Notes that required bifurcation from the host agreement. The Company allocated the gross proceeds received, the fees incurred, and as applicable, the impact of repricing the warrants discussed above, over the July 2023 Convertible Notes and July 2023 Warrants and over the December 2023 Convertible Notes and December 2023 Warrants, as applicable, based on their relative fair values as follows (in thousands): SCHEDULE OF BASED ON RELATIVE FAIR VALUE ALLOCATION OF PROCEEDS AND COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">July 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zTTOqYWu20A9" style="width: 9%; text-align: right" title="Relative Fair Value">8,715</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zQhIaEIxYku7" style="width: 9%; text-align: right" title="Allocation Percentage">39.94</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zdScN4iFtIRf" style="width: 9%; text-align: right" title="Proceeds">3,481</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_zSVbLRcHsYdi" style="width: 9%; text-align: right" title="Costs">(80</td><td style="width: 1%; text-align: left">)</td><td id="xdx_982_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zPQoiIgXSC1e" style="width: 2%" title="Costs"> (766)</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember_z3ndxVU0PPJl" style="width: 9%; text-align: right">3,401</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">July 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z9X9RyVApqE3" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">13,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zjxZVagt7K62" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">60.06</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zQC33rpolDd8" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">5,234</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zY9qY5FWaFYi" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(121</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zsZEuuidl75a" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">5,113</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20230714_zsSvyuqyHZT9" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">21,818</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20230714_zi8LmScfoyG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20230714__20230714_zkIZZH7bUDzk" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">8,715</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20230714__20230714_zD2gL2hdDUgl" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(201</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20230714__20230714_z1visHbZra8g" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">8,514</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 2023 Closing</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Repricing</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">December 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zBrW8I1f9c8b" style="width: 6%; text-align: right" title="Relative Fair Value">9,059</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_ziA1vKjHYL55" style="width: 6%; text-align: right" title="Allocation Percentage">48.83</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zzifEGDTN8Zh" style="width: 6%; text-align: right" title="Proceeds">3,803</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zooHcS86Mcde" style="width: 6%; text-align: right" title="Costs">(81</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_z0OTtOCOftTh" style="width: 6%; text-align: right" title="Costs">(766</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zCd5PsUoTGKd" style="width: 6%; text-align: right">2,956</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">December 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_z1b4ssAe47Ce" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">9,495</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zk8DPxOxqdTd" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">51.17</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zlkHMphjv8qf" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">3,985</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_znS5sf6LWeE2" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(85</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--WarrantRepricing_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zO3kuuTNX15c" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(802</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_z7so3iVwHocg" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">3,098</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231215_zfec3zWxOZdl" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">18,554</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20231215_z8GQNMwoY68f" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20231215__20231215_z7DGIBen0239" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">7,788</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20231215__20231215_zVr3VRwDu9ud" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(166</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--WarrantRepricing_pn3n3_c20231215__20231215_zLzxrLpR4uVf" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrant Repricing">(1,568</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20231215__20231215_zzYOHcYdFaf7" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">6,054</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-size: 12pt; padding-bottom: 1pt"> </td> <td colspan="2" style="font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation of Proceeds and Costs:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center">Allocation of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 2024 Closing</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Relative Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Allocation Percentage</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Costs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds, Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">December 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_znyM9JsaKHC6" style="width: 9%; text-align: right" title="Relative Fair Value">1,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zHJXTPDsF5o2" style="width: 9%; text-align: right" title="Allocation Percentage">46.24</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zptYBDMzdk5l" style="width: 9%; text-align: right" title="Proceeds">650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_ztLSSRrxKWZe" style="width: 9%; text-align: right" title="Costs">(31</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember_zGscvlqvAjil" style="width: 9%; text-align: right">619</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">December 2023 Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zZgdKZQGqjIg" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">2,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zwwGJgW3H6k4" style="border-bottom: Black 1pt solid; text-align: right" title="Allocation Percentage">53.76</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zNudGHaGMBpd" style="border-bottom: Black 1pt solid; text-align: right" title="Relative Fair Value">755</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zGn7kqCEw8Lf" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">(35</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zqFrXvfAmxI8" style="border-bottom: Black 1pt solid; text-align: right" title="Costs">720</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20240111_zXttU5lw04fl" style="border-bottom: Black 2.5pt double; text-align: right" title="Relative Fair Value">3,785</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_ecustom--AllocationPercentageOfFairValue_iI_pid_dp_uPure_c20240111_zIfYF4WzCjHd" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation Percentage">100.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ProceedsFromConvertibleDebt_pn3n3_c20240111__20240111_z3EaO5N3NXwi" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds">1,405</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_pn3n3_di_c20240111__20240111_zTKVk1UTgnaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Costs">(66</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_ecustom--ProceedsFromConvertibleDebtNet_pn3n3_c20240111__20240111_zbVdxp3nvH5a" style="border-bottom: Black 2.5pt double; text-align: right" title="Allocation of Proceeds, Net">1,339</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8715000

0.3994

3481000

80000

-766000 3401000

13103000

0.6006

5234000

121000

5113000

21818000

1.0000

8715000

201000

8514000

9059000

0.4883

3803000

81000

-766000 2956000

9495000

0.5117

3985000

85000

-802000 3098000

18554000

1.0000

7788000

166000

-1568000 6054000

1750000

0.4624

650000

31000

619000

2035000

0.5376

755000

35000

720000

3785000

1.0000

1405000

66000

1339000

<p id="xdx_890_eus-gaap--FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock_zQ15lPmxMRs4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company estimated the fair values of the Convertible Notes as of July 14, 2023, December 15, 2023 and January 11, 2024 based off a valuation performed by a third-party specialist using a binomial tree model and the following assumptions: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Credit Spread</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Volatility</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Risk-Free Rate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%">July 2023 Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">7/14/2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zzOxRqHcnHka" style="width: 9%; text-align: right" title="Stock Price">42.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_zEi9Yw7kJqK3" style="width: 9%; text-align: right" title="Stock Price">2,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zmO2OXTGBHG2" style="width: 9%; text-align: right" title="Stock Price">108</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zsgwMf7VsdUh" style="width: 9%; text-align: right" title="Stock Price">4.60</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 Convertible Notes</td><td> </td> <td style="text-align: right">12/15/2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z6cQDXSS8qS" style="text-align: right" title="Stock Price">22.65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_zSykhFcp2FU8" style="text-align: right" title="Stock Price">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zOPzuACI1D87" style="text-align: right" title="Stock Price">109</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zYg0lYWzAAi" style="text-align: right" title="Stock Price">3.90</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 2023 Convertible Notes</td><td> </td> <td style="text-align: right">1/11/2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z3HRmhVGsS51" style="text-align: right" title="Stock Price">26.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCreditSpreadMember_z71HPlm6FKRa" style="text-align: right" title="Stock Price">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z3izxQOgMIN5" style="text-align: right" title="Stock Price">109</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeConvertibleNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zZ1D1AbPoAi3" style="text-align: right" title="Convertible note, Measurement input">3.90</td><td style="text-align: left">%</td></tr> </table> The fair value of the Note Warrants, all of which qualified for equity classification, was determined using the Black-Scholes pricing model as of each of July 14, 2023, December 15, 2023 and January 11, 2024 using the following assumptions: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expected Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Volatility</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dividend</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Risk-Free Rate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%">July 2023 warrants</td><td style="width: 2%"> </td> <td style="width: 7%; text-align: right">7/14/2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zXZQdiLHOwxe" style="width: 5%; text-align: right" title="Stock Price">39.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zDMYY9Q3U1V7" style="width: 5%; text-align: right" title="Exercise Price">39.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 7%; text-align: center"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230714__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z4L9ABRbMVcj" title="Expected life">5 years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zxphJ9PrBwTf" style="width: 5%; text-align: right" title="Volatility">98</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zjzAmb65vk4b" style="width: 5%; text-align: right" title="Dividend">0.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20230714__us-gaap--LongtermDebtTypeAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z26kI0RWa5Al" style="width: 5%; text-align: right" title="Dividend">4.04</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 warrants</td><td> </td> <td style="text-align: right">12/15/2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zxi8GR7ScvWl" style="text-align: right" title="Stock Price">22.64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zEQJwdYx3Ssl" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231215__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zvBodWjcX3u" title="Expected life">5 years</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zPwz4qrRbFR" style="text-align: right" title="Volatility">101</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zm6DQJ9T5FJe" style="text-align: right" title="Dividend">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231215__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zMHYG81oHmM3" style="text-align: right" title="Dividend">3.91</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>December 2023 warrants</td><td> </td> <td style="text-align: right">1/11/2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zruUWvAg6Xp5" style="text-align: right" title="Stock Price">26.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_z37vxEcVw3th" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240111__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zQUcmrRV7Yya" title="Warrants, Expected life">5 years</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zWLwr944cC8g" style="text-align: right" title="Volatility">102</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z9zqz8HOWzgd" style="text-align: right" title="Dividend">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240111__us-gaap--LongtermDebtTypeAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zUw8Jupkdgp8" style="text-align: right" title="Warrants, Measurement input">3.90</td><td style="text-align: left">%</td></tr> </table>

2023-07-14

42.15

2500

108

4.60

2023-12-15

22.65

2000

109

3.90

2024-01-11

26.25

2000

109

3.90

2023-07-14

39.15

P5Y

0.00

4.04

2023-12-15

22.64

21.45

P5Y

101

0.00

3.91

2024-01-11

26.25

21.45

P5Y

102

0.00

3.90

3900000

P1Y

100

7.50

5500000

3900000 1600000

200000

3.9

<p id="xdx_89E_ecustom--ScheduleOfInterestExpenseTableTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zJZt3B65laE8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> SCHEDULE OF INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z388Ay9TDfqh" style="font-weight: bold; text-align: center">Year ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseOperating_pn3n3_maIEOzFrB_zOnVRPBpU0fh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Interest</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">45</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIEOzFrB_zeYrAVa0Vw04" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpense_iT_pn3n3_mtIEOzFrB_zBpOSbZU6Zne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,932</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

45000

3887000

3932000

100000

300000

21.45

9000000

0.5

28400000

15.00

0.10

10100000

19400000

9300000

32000000.0

1890000

16.95

21900000

32000000.0

21900000

1000000.0

16.95

11200000

300000

101000

11.25

11.175

600000

21900000

22400000

93000

8000

1100000

0.075

3000000.0

7.50

416000

900000

7.50

118000

0.075

1327000

663000

1890000

2553000

<table border="0" cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">7)</td> <td style="text-align: justify">Property and Equipment</td></tr> </table> PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231_zbZAmq2pQn61" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zikkcFq5lqB2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zrsH6D1wl8ge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left">Laboratory and manufacturing equipment</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 16%; font-size: 10pt; text-align: right">28</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 16%; font-size: 10pt; text-align: right">40</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvQ0lkhrzIa3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and fixtures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zD5QjVuqHsS8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Leasehold improvements</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">274</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zaxVM1BdDd73" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Computer equipment and programs</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">210</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">274</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz3xP_zfogEuSaFUNe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">257</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">607</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz3xP_zKgxNiBrAkHf" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(172</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(114</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz3xP_zRHYm4E44hhj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">85</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">493</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table> During the year ended December 31, 2024, the Company recognized a loss on disposal of assets of approximately $0.5 million in connection with the sublease termination agreement related to the Somerville, Massachusetts lease, which is recorded as part of the gain on lease termination on the accompanying consolidated statement of operations for the year ended December 31, 2024 (See Note 8 for more details on the sublease termination agreement). During the year ended December 31, 2023, the Company recognized a de minimis loss on disposal of fixed assets. Depreciation expense was approximately $0.1 million for each of the years ended December 31, 2024 and 2023. No depreciation expense is recorded on fixed assets in process until such time as the assets are completed and are placed into service.

Property and equipment consist of the following (in thousands): SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231_zbZAmq2pQn61" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zikkcFq5lqB2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zrsH6D1wl8ge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left">Laboratory and manufacturing equipment</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 16%; font-size: 10pt; text-align: right">28</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 16%; font-size: 10pt; text-align: right">40</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvQ0lkhrzIa3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and fixtures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">19</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zD5QjVuqHsS8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Leasehold improvements</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">274</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zaxVM1BdDd73" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Computer equipment and programs</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">210</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">274</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz3xP_zfogEuSaFUNe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">257</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">607</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz3xP_zKgxNiBrAkHf" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(172</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(114</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz3xP_zRHYm4E44hhj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">85</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">493</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table>

28000

40000

19000

274000

210000

274000

257000

607000

172000

114000

85000

493000

500000

100000

<table border="0" cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">8)</td> <td style="text-align: justify">Leases</td></tr> </table> LEASES Operating Leases The Company currently has operating leases for office in the borough of Manhattan in New York, New York, and Cambridge, Massachusetts, which expire in 2026 and 2028, respectively. In addition, in October 2022, the Company entered into a sublease with a subsidiary of Bristol-Myers Squibb Company, as sublessor (“Sublessor”), for office, laboratory and research and development space of approximately 45,500 square feet in Somerville, Massachusetts. The sublease provided for base rental payments of approximately $<span id="xdx_90D_ecustom--OperatingLeasesMonthlyBaseRent_pn5n6_c20221001__20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ERSquibbSonsLLCMember_zHMYlIc3MHHi" title="Operating leases monthly base rent">0.5 million per month as well as monthly payments for parking and the Company’s share of traditional lease expenses, including certain taxes, operating expenses and utilities. The Company paid the Sublessor a security deposit in the form of a letter of credit in the amount of approximately $4.1 million. The Sublessor provided the Company with a tenant improvement allowance (“TIA”) of $<span id="xdx_901_ecustom--TenantImprovementAllowancePerRentableSquareFoot_iI_c20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ERSquibbSonsLLCMember_zvTdOW2E6vp6" title="Tenant improvement allowance per rentable square foot">190 per rentable square foot, or $<span id="xdx_908_ecustom--TenantImprovementAllowance_iI_pn5n6_c20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ERSquibbSonsLLCMember_zGzu1QHdbNz8" title="Tenant improvement allowance">8.6 million, for assets that were determined to be owned by the sublessor/lessor and considered a reimbursement rather than a lease incentive. As of December 31, 2023, the Company received the entire $<span id="xdx_90F_ecustom--ReceivedAmountOfTenantImprovementAllowance_iI_pn5n6_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ERSquibbSonsLLCMember_zXOS3H97ovI7" title="Received amount of tenant improvement allowance">8.6 million TIA. The Company incurred out-of-pocket tenant improvements costs of approximately $1.6 million, which was in excess of the $<span id="xdx_90F_ecustom--ReceivedAmountOfTenantImprovementAllowance_iI_pn5n6_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ERSquibbSonsLLCMember_zSmj2HObV6Di" title="Received amount of tenant improvement allowance">8.6 million TIA. These out-of-pocket expenses were considered non-cash lease payments and were added to the consideration in the contract. The Company recorded an initial lease liability of $34.1 million and a corresponding ROU asset of $34.4 million during the year ended December 31, 2023. During the years ended December 31, 2023 and 2024, the Company remeasured the lease liability due to changes in out-of-pocket expenses for sublessor/lessor owned assets and timing of rent payments and recorded adjustments to the lease liability and ROU asset of approximately a $1.6 million reduction as of December 31, 2023 and an increase of $4.2 million for the year ended December 31, 2024. On May 3, 2024, the Company received a notice from the Sublessor regarding past due rent payments of approximately $2.3 million, including amounts related to property taxes and common area maintenance costs, that the Company did not pay for the months of February, March, April and May 2024. Failure to pay the past due rent payments in full, plus approximately $70,000 in late fees and interest, within five business days from the date of the notice constituted an event of default under the sublease. The Company also did not pay the rent for June, July or August 2024 and, as of August 1, 2024, owed approximately $4.0 million in the aggregate in past due rent. On August 5, 2024, the Sublessor drew down on the letter of credit for the full $4.1 million to cover the approximately $4.0 million of past due rent payments, plus interest and penalties. On August 9, 2024, the Company and Sublessor entered into a sublease termination agreement, effective August 31, 2024. The sublease was originally scheduled to expire in 2033. Pursuant to the sublease termination agreement, the Company agreed to the following: to surrender and vacate the premises; that the Company’s right, title and interest in all furniture, fixtures and laboratory equipment at the premises will become the property of the sublessor; and that both parties will be released of their obligations under the sublease. As a result of the sublease termination, the Company recognized a gain on lease termination of approximately $1.6 million for the year ended December 31, 2024, which includes a loss on disposal of fixed assets of approximately $<span id="xdx_906_eus-gaap--GainLossOnDispositionOfAssets1_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SubleaseTerminationAgreementMember_zAlSBDM2RFv4" title="(Gain) loss on disposal of fixed assets">0.5 million. For the years ended December 31, 2024 and 2023, the net operating lease expenses were as follows (in thousands): SCHEDULE OF NET OPERATING LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231_zzYTkorgSdH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zJKoU20EK0nc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseCost_pn3n3_maLCzDhH_zDBBriiiVVVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,399</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzDhH_zJv1591TjHR9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sublease income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--VariableLeaseCost_pn3n3_maLCzDhH_zoQ56a5aouIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Variable lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzDhH_zUQxYFNXnVc5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,256</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The tables below show the beginning balances of the operating ROU assets and lease liabilities as of January 1, 2024 and the ending balances as of December 31 2024, including the changes during the period (in thousands). SCHEDULE OF OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Operating Lease ROU Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Operating lease ROU assets at January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iS_pn3n3_c20240101__20241231_zE41fVoXdXK2" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Operating lease ROU assets, Beginning">32,781</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjustment to ROU asset for remeasurement of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Somerville Sublease liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AdjustmentToRemeasurementOfOperatingLeaseROUAssets_pn3n3_c20240101__20241231_zETfehCZQY9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Adjustment to ROU asset for remeasurement of Somerville Sublease liability">4,245</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Write-off of Somerville Sublease ROU asset</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--OperatingLeaseRightOfUseAssetWriteOff_iN_pn3n3_di_c20240101__20241231_zJEByPcxXEbh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off Sublease lease ROU assets">(34,857</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Amortization of operating lease ROU assets</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_pn3n3_di_c20240101__20241231_zZbz3gBFbdX3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Amortization of operating lease ROU assets">(1,499</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Operating lease ROU assets at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iE_pn3n3_c20240101__20241231_zUxJMSNSI3d9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Operating lease ROU assets, Ending">670</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Operating Lease Liabilities</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Operating lease liabilities at January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iS_pn3n3_c20240101__20241231_zj8qA5Zu33u4" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Operating lease liabilities, Beginning">35,070</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjustment to lease liability due to remeasurement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">of Somerville Sublease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--AdjustmentToLeaseLiabilityDueToRemeasurementOfSublease_pn3n3_c20240101__20241231_zpRXJzBtXP83" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Adjustment to lease liablity due to remeasurement of Somerville Sublease">4,245</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accretion of interest for Somerville Sublease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AccretionOfInterestSublease_pn3n3_c20240101__20241231_zaXcrZtbNC1i" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accretion of interest for Somerville Sublease">2,465</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Write-off of Somerville Sublease liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--OperatingLeasetWriteOff_iN_pn3n3_di_c20240101__20241231_zt44TQW2PShc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off Sublease liability">(36,924</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Principal payments on operating lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--PrincipalPaymentsOnOperatingLeaseLiabilities_pn3n3_c20240101__20241231_z82W0VdYSt99" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Principal payments on operating lease liabilities">(4,172</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liabilities at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iE_pn3n3_c20240101__20241231_zirEJzuqlFN9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Operating lease liabilities, Ending">684</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less non-current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_c20241231_zWUwwBYWS5Nh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less non-current portion">477</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Current portion at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_c20241231_zp6anYYRJOn5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Current portion">207</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2024, the Company’s operating leases had a weighted-average remaining life of 3.1 years with a weighted-average discount rate of 10.23%. The maturities of the operating lease liabilities are as follows (in thousands): SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zdowCGabXKM1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzfyw_zjhfAuTcr5ch" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">274</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzfyw_z4QGWG59Kapc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzfyw_z7thOAe5eq92" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">163</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzfyw_zllnKmtPuCs8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">82</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzfyw_zEQy8bnwtxQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">786</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zTmaHgVRzMNf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(102</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_ze7SaKlHWsL1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Manhattan Sublease In April 2019, the Company entered into a sublease with an unaffiliated third party (the “Subtenant”), whereby the Subtenant agreed to sublease approximately 999 square feet of space rented by the Company in the borough of Manhattan in New York, New York commencing on May 15, 2019. The term of this sublease expires on October 31, 2026 with no option to extend. Rent payments by the Subtenant under the sublease began on September 1, 2019. The sublease stipulates an annual rent increase of 2.25%. The Subtenant is also responsible for paying to the Company all tenant energy costs, annual operating costs, and annual tax costs attributable to the subleased space during the term of the sublease. The Company received sublease payments of approximately $0.1 million for each of the years ended December 31, 2024 and 2023, respectively. The Company treats the sublease as a separate lease, as the Company was not relieved of the primary obligation under the related lease. The Company continues to account for the related lease as a lessee and in the same manner as prior to the commencement date of the sublease. The Company accounts for the sublease as a lessor of the lease. The sublease is classified as an operating lease, as it does not meet the criteria of a sale-type or direct financing lease. The following tables shows the future payments the Company expects to receive from the Subtenant over the remaining term of the sublease (in thousands): SCHEDULE OF FUTURE LEASE PAYMENTS FROM SUBLEASE AGREEMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231_zMicxywDqG5g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentalsNextTwelveMonths_iI_maSLTFMzzhT_zAasR6NcZhG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">88</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentalsWithinTwoYears_iI_maSLTFMzzhT_zFkCo2uFRSY2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">75</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentals_iTI_mtSLTFMzzhT_z87WxtkI1Ikg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

45500

500000

4100000

190 8600000 8600000

1600000

8600000

34100000

34400000

-1600000 -4200000

2300000

70000 4000000.0

4100000

4000000.0 1600000

500000

For the years ended December 31, 2024 and 2023, the net operating lease expenses were as follows (in thousands): SCHEDULE OF NET OPERATING LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231_zzYTkorgSdH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230101__20231231_zJKoU20EK0nc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseCost_pn3n3_maLCzDhH_zDBBriiiVVVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,399</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzDhH_zJv1591TjHR9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sublease income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--VariableLeaseCost_pn3n3_maLCzDhH_zoQ56a5aouIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Variable lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzDhH_zUQxYFNXnVc5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,256</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4447000

3399000

84000

893000

136000

5256000

3451000

The tables below show the beginning balances of the operating ROU assets and lease liabilities as of January 1, 2024 and the ending balances as of December 31 2024, including the changes during the period (in thousands). SCHEDULE OF OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Operating Lease ROU Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Operating lease ROU assets at January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iS_pn3n3_c20240101__20241231_zE41fVoXdXK2" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Operating lease ROU assets, Beginning">32,781</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjustment to ROU asset for remeasurement of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Somerville Sublease liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AdjustmentToRemeasurementOfOperatingLeaseROUAssets_pn3n3_c20240101__20241231_zETfehCZQY9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Adjustment to ROU asset for remeasurement of Somerville Sublease liability">4,245</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Write-off of Somerville Sublease ROU asset</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--OperatingLeaseRightOfUseAssetWriteOff_iN_pn3n3_di_c20240101__20241231_zJEByPcxXEbh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off Sublease lease ROU assets">(34,857</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Amortization of operating lease ROU assets</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_pn3n3_di_c20240101__20241231_zZbz3gBFbdX3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Amortization of operating lease ROU assets">(1,499</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Operating lease ROU assets at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iE_pn3n3_c20240101__20241231_zUxJMSNSI3d9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Operating lease ROU assets, Ending">670</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Operating Lease Liabilities</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Operating lease liabilities at January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iS_pn3n3_c20240101__20241231_zj8qA5Zu33u4" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Operating lease liabilities, Beginning">35,070</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjustment to lease liability due to remeasurement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">of Somerville Sublease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--AdjustmentToLeaseLiabilityDueToRemeasurementOfSublease_pn3n3_c20240101__20241231_zpRXJzBtXP83" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Adjustment to lease liablity due to remeasurement of Somerville Sublease">4,245</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accretion of interest for Somerville Sublease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AccretionOfInterestSublease_pn3n3_c20240101__20241231_zaXcrZtbNC1i" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accretion of interest for Somerville Sublease">2,465</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Write-off of Somerville Sublease liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--OperatingLeasetWriteOff_iN_pn3n3_di_c20240101__20241231_zt44TQW2PShc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off Sublease liability">(36,924</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Principal payments on operating lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--PrincipalPaymentsOnOperatingLeaseLiabilities_pn3n3_c20240101__20241231_z82W0VdYSt99" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Principal payments on operating lease liabilities">(4,172</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liabilities at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iE_pn3n3_c20240101__20241231_zirEJzuqlFN9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Operating lease liabilities, Ending">684</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less non-current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_c20241231_zWUwwBYWS5Nh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less non-current portion">477</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Current portion at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_c20241231_zp6anYYRJOn5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Current portion">207</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

32781000

4245000 34857000

1499000

670000

35070000

4245000 2465000 36924000 -4172000

684000

477000

207000

P3Y1M6D

0.1023

SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zdowCGabXKM1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzfyw_zjhfAuTcr5ch" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">274</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzfyw_z4QGWG59Kapc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzfyw_z7thOAe5eq92" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">163</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzfyw_zllnKmtPuCs8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">82</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzfyw_zEQy8bnwtxQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">786</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zTmaHgVRzMNf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(102</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_ze7SaKlHWsL1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

274000

267000

163000

82000

786000

102000

684000

999 0.0225

100000

The following tables shows the future payments the Company expects to receive from the Subtenant over the remaining term of the sublease (in thousands): SCHEDULE OF FUTURE LEASE PAYMENTS FROM SUBLEASE AGREEMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231_zMicxywDqG5g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentalsNextTwelveMonths_iI_maSLTFMzzhT_zAasR6NcZhG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">88</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentalsWithinTwoYears_iI_maSLTFMzzhT_zFkCo2uFRSY2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">75</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--SaleLeasebackTransactionsFutureMinimumSubleaseRentals_iTI_mtSLTFMzzhT_z87WxtkI1Ikg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 88000 75000 163000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">9)</td> <td style="text-align: justify">Fair Value of Financial Instruments</td></tr> </table> FAIR VALUE OF FINANCIAL INSTRUMENTS The Company issued approximately <span id="xdx_902_esrt--StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_iI_c20220331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PIPEInvestorMember__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zvJKpoqU3wU2" title="Private placement shares">23,000 warrants in connection with a private placement during the first quarter of 2022 (the “Q1-22 warrants”), which were determined to be classified as a liability. The Company also recorded the Market Cap Contingent Consideration liability related to the Exacis Acquisition. See Note 4 for more information related to the Exacis Acquisition. In connection with the Bridge Notes, the Company recorded a derivative liability as of September 24, 2024. In connection with the Exchange Transactions, on September 24, 2024, the Company reclassified the Exchanged Warrants from equity to a liability. See Note 6 for more information related to the Bridge Notes and Exchange Transactions. The Company uses a Black-Scholes option pricing model to estimate the fair value of the Q1-22 warrant liabilities and a Monte Carlo simulation model to estimate the fair value of the contingent consideration related to the Market Cap Contingent Consideration, both of which are considered a Level 3 fair value measurement. The Company determined the fair value of the derivative liability by taking the difference between the fair value of the Bridge Notes with the conversion feature and without the conversion feature. Pursuant to the approval of the September 2024 Transactions by the Company’s stockholders at the Annual Meeting, the Bridge Notes were converted to shares of the Company’s common stock, and the outstanding principal and interest of the Bridge Notes as well as the derivative liability were reclassified to equity. As of December 31, 2024, there was no derivative liability balance. The Company determined the fair value of the Exchanged Warrants as of September 24, 2024 by taking the number of shares of common stock issuable from the Exchanged Warrants multiplied by the closing stock price of $16.95 and reclassified approximately $<span id="xdx_908_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zdBPZfTW3qZ6" title="Reclassification of warrants">11.2 million from equity to warrant liabilities. The Company remeasures the fair value of the warrant liabilities, the Bridge Notes derivative liability and the Market Cap Contingent Consideration at each reporting period and changes in the fair values are recognized in the consolidated statement of operations. <p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zsNOAEU5pjT" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following tables summarize the liabilities that are measured at fair value as of December 31, 2024 and December 31, 2023 (in thousands): SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zULOZVLmgPzc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zzUCOc3sCqi2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzMlZ1gMCag5" style="vertical-align: bottom; background-color: White"> <td style="width: 48%; text-align: left">Warrant liabilities - Q1-22 warrants</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">116</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--MarketCapContingentConsiderationMember_zGiBsoym7r8e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Market Cap Contingent Consideration</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">107</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--MarketCapContingentConsiderationMember_z8doNRNW2SS8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Liability fair value disclosure</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">107</td><td style="text-align: left"> </td></tr> </table> Certain inputs used in Black-Scholes and Monte Carlo models may fluctuate in future periods based upon factors that are outside of the Company’s control. A significant change in one or more of these inputs used in the calculation of the fair value may cause a significant change to the fair value of the Company’s warrant liabilities or contingent consideration liabilities, which could also result in material non-cash gains or losses being reported in the Company’s condensed consolidated statement of operations. The following table presents the changes in the liabilities measured at fair value from January 1, 2024 through December 31, 2024 (in thousands): SCHEDULE OF CHANGES IN WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--WarrantLiabilitiesMember_ztlTmddBQLVc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zHxDtaCpelDl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--ContingentConsiderationMember_zjy9BbxrHfx4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contingent Consideration</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zfDyZbPfEJec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Fair value at January 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">116</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">107</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquityFairValueAdjustment_zLAqNVHJAYjf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reclassification of Exchanged Warrants from equity to liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DerivativeLiabilityFairValueAdjustment_z2NGigvhXwwf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Initial measurement of Bridge Notes derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,566</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zXTihgyoqBx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(414</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(220</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(66</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of Exchanged Warrants and Bridge Notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueAdjustment_z3AgSLc2e4I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">derivative liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,945</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,346</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueAdjustment_zU9bU23MF3Ye" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reclassification of Exchanged Warrants and Bridge Notes derivative liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,945</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,346</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zeP5CPcaEGyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Fair value at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Based off valuations performed during 2024 and as of December 31, 2024, the Company recognized a change in fair value of the Market Cap Contingent Consideration of approximately $0.1 million for the year ended December 31, 2024. The Company remeasured the Bridge Notes derivative liability by taking the difference between the fair value of the Bridge Notes with the conversion feature and without the conversion feature at each reporting period and recorded a $0.2 million credit for the change in fair value during the year ended December 31, 2024. In connection with the approval of the September 2024 Transactions by the Company’s stockholders at the Annual Meeting on October 29, 2024, the Exchanged Warrants were exchanged for and the Bridge Notes were converted to shares of the Company’s common stock. The liability related to the Exchanged Warrants and the outstanding principal and interest of the Bridge Notes as well as the derivative liability were reclassified to equity. As of December 31, 2024, there were no liability balances related to the derivative liability or the Exchange Warrants. The table below is provided for comparative purposes only and presents information about the fair value of the Company’s Convertible Notes relative to the carrying values recognized in the condensed consolidated balance sheet as of December 31, 2023 (in thousands). SCHEDULE OF FAIR VALUE AND CARRYING VALUES OF CONVERTIBLE NOTES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Carrying Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_zoyrVNTZQ9Fi" style="width: 14%; text-align: right" title="Convertible debt">16,616</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zhQE12DcSMW3" style="width: 14%; text-align: right" title="Convertible debt">17,594</td><td style="width: 1%; text-align: left"> </td></tr> </table> In connection with the approval of the September 2024 Transactions by the Company’s stockholders at the Annual Meeting on October 29, 2024, the Convertible Notes were exchanged for shares of the Company’s common stock. As of December 31, 2024, there were no Convertible Notes outstanding. The Company assessed the fair value of the Convertible Notes as of December 31, 2023 using a binomial model, which is considered a Level 3 measurement. The inputs used for the assessment were risk-free rate of <span id="xdx_904_ecustom--ConvertibleDebtMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zkiygjjhJbhk" title="Measurement input">4.07%, expected term of <span id="xdx_906_ecustom--ConvertibleDebtMeasurementTerm_dtY_c20230101__20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z6NqlDlx0Lmd" title="Measurement input term">2.3 years, stock price of $<span id="xdx_90F_ecustom--ConvertibleDebtMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTfPymI1o7t2" title="Measurement input">27.00, volatility of <span id="xdx_906_ecustom--ConvertibleDebtMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zZyoKkYTbgi6" title="Measurement input">108% and dividend yield of <span id="xdx_903_ecustom--ConvertibleDebtMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxg3edH0AtNd" title="Measurement input">0% done.

23000

16.95

11200000

<p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zsNOAEU5pjT" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following tables summarize the liabilities that are measured at fair value as of December 31, 2024 and December 31, 2023 (in thousands): SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zULOZVLmgPzc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zzUCOc3sCqi2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Liabilities:</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzMlZ1gMCag5" style="vertical-align: bottom; background-color: White"> <td style="width: 48%; text-align: left">Warrant liabilities - Q1-22 warrants</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">116</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--MarketCapContingentConsiderationMember_zGiBsoym7r8e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Market Cap Contingent Consideration</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">107</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--MarketCapContingentConsiderationMember_z8doNRNW2SS8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Liability fair value disclosure</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">107</td><td style="text-align: left"> </td></tr> </table>

1000

116000

41000

107000

41000

107000

The following table presents the changes in the liabilities measured at fair value from January 1, 2024 through December 31, 2024 (in thousands): SCHEDULE OF CHANGES IN WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--WarrantLiabilitiesMember_ztlTmddBQLVc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zHxDtaCpelDl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--ContingentConsiderationMember_zjy9BbxrHfx4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contingent Consideration</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zfDyZbPfEJec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Fair value at January 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">116</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">107</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquityFairValueAdjustment_zLAqNVHJAYjf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reclassification of Exchanged Warrants from equity to liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DerivativeLiabilityFairValueAdjustment_z2NGigvhXwwf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Initial measurement of Bridge Notes derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,566</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zXTihgyoqBx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(414</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(220</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(66</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of Exchanged Warrants and Bridge Notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueAdjustment_z3AgSLc2e4I7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">derivative liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,945</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,346</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueAdjustment_zU9bU23MF3Ye" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reclassification of Exchanged Warrants and Bridge Notes derivative liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,945</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,346</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_434_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zeP5CPcaEGyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Fair value at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

116000

107000

11244000

5566000

-414000

-220000

-66000

-10945000

-5346000

-10945000

-5346000

1000

41000

100000

200000

The table below is provided for comparative purposes only and presents information about the fair value of the Company’s Convertible Notes relative to the carrying values recognized in the condensed consolidated balance sheet as of December 31, 2023 (in thousands). SCHEDULE OF FAIR VALUE AND CARRYING VALUES OF CONVERTIBLE NOTES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Carrying Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Convertible Notes</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_zoyrVNTZQ9Fi" style="width: 14%; text-align: right" title="Convertible debt">16,616</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_pn3n3_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zhQE12DcSMW3" style="width: 14%; text-align: right" title="Convertible debt">17,594</td><td style="width: 1%; text-align: left"> </td></tr> </table>

16616000

17594000

4.07 P2Y3M18D 27.00 108 0

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">10)</td> <td style="text-align: justify">Goodwill</td></tr> </table> GOODWILL The Company recorded goodwill in the amount of $2.0 million related to a 2018 acquisition that was accounted for as a business combination. The Company performed its annual qualitative assessment as of December 31, 2024, and based on that assessment, the Company was unable to conclude that it was more likely than not that the fair value of the entity exceeded its carrying value as of such date. As a result, the Company performed a step-one quantitative assessment and concluded that the fair value of the reporting unit was greater than the carrying value as of December 31, 2024, and the goodwill was considered not impaired. Therefore, the Company did not recognize an impairment charge during the year ended December 31, 2024. . The Company performed its annual qualitative assessment as of December 31, 2023, and based on that assessment, the Company determined that it was more likely than not that the fair value of the entity exceeded its carrying value for such year and that the performance of the quantitative impairment test was not required. Therefore, no impairment was required for the year ended December 31, 2023.

2000000.0

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">11)</td> <td style="text-align: justify">Related Party Transactions</td></tr> </table> RELATED PARTY TRANSACTIONS Agreements with Factor Bioscience Inc. and Affiliates As of December 31, 2024, the Company had entered into the agreements described below with Factor Bioscience Inc. and/or Dr. Matthew Angel. These agreements have been deemed related party transactions because the Company’s former chief executive officer, Dr. Angel, is the chairman and chief executive officer of Factor Bioscience Inc. and a director of its subsidiary, Factor Bioscience Limited (“Factor Limited” and together with Factor Bioscience Inc. and its other affiliates, “Factor Bioscience”). Dr. Angel resigned as the Company’s chief executive officer effective December 31, 2023. In May 2024, the Company entered into the First Amendment to Work Order 1 (the “Amended Work Order”) under a Master Services Agreement (the “MSA”) that the Company entered into with Factor Bioscience in September 2022, including the first work order under the MSA (“Work Order 1”). The Amended Work Order allowed the Company to terminate Work Order 1 on or after the second anniversary of the date of the MSA, subject to providing Factor Bioscience with <span id="xdx_901_ecustom--NoticePeriodForSupersedingTerminationProvisions_dtD_c20240501__20240531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zycEh5XDGMIf" title="Notice period for superseding termination provisions">75 days’ prior notice if such notice is provided no later than June 30, 2024, rather than <span id="xdx_901_ecustom--NoticePeriodForSupersedingTerminationProvisions_dtD_c20220902__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_z9Ce2KXV9ami" title="Notice period for superseding termination provisions">120 days’ notice originally required. On June 26, 2024, the Company provided Factor Bioscience with its notice to terminate Work Order 1, which became effective on September 9, 2024. Under Work Order 1, Factor Bioscience was providing the Company with mRNA cell engineering research support services, including access to certain facilities, equipment, materials and training, and the Company paid Factor Bioscience an initial fee of $<span id="xdx_90D_ecustom--MasterServiceAgreementInitialFeesPayable_iI_pn5n6_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zZNKtmawmrDh" title="Master services agreement, initial fees payable">5.0 million, payable in <span id="xdx_907_ecustom--NumberOfMonthlyInstallmentsForFeesPayable_dtM_c20220902__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zyInwetGkEHh" title="Number of monthly installments for fees payable">12 equal monthly installments of approximately $<span id="xdx_900_ecustom--RelatedPartyTransactionPeriodicFeesPaymentAmount_pn5n6_c20220902__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_znwlh87MbQ76" title="Monthly installment fees amount">0.4 million. Of the $<span id="xdx_90A_ecustom--MonthlyMasterServicesAgreementFeesPayable_iI_pn5n6_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zSAPte8Dzuoj" title="Master services agreement fees payable">5.0 million, the Company allocated $<span id="xdx_90D_ecustom--InitialLicenseFeeObligation_pn5n6_c20220902__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zfowmvqrMed9" title="Initial license fees obligation">3.5 million to the License Fee Obligation (as defined below). Following the initial 12-month period, the Company continued paying Factor Bioscience the monthly fee of $<span id="xdx_900_ecustom--RelatedPartyTransactionPeriodicFeesPaymentAmount_pn5n6_c20220902__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorBioscienceIncMember_zXVTRzojxAza" title="Monthly installment fees amount">0.4 million until such time as Work Order 1 was terminated. In September 2022, Novellus Inc. (“Novellus”) and the Company entered into a Second Amendment to the Limited Waiver and Assignment Agreement (the “Waiver and Assignment Agreement”) with Drs. Matthew Angel and Christopher Rohde (the “Founders”) whereby the Company agreed to be responsible for all future, reasonable and substantiated legal fees, costs, settlements and judgments incurred by the Founders, the Company or Novellus for certain claims and actions and any pending or future litigation brought against the Founders, Novellus and/or the Company by or on behalf of the Westman and Sowyrda legal matters described in Note 11 (the “Covered Claims”). The Founders will continue to be solely responsible for any payments made to satisfy a judgement or settlement of any pending or future wage act claims. Under the Waiver and Assignment Agreement, the Founders agreed that they are not entitled to, and waived any right to, indemnification or advancement of past, present or future legal fees, costs, judgments, settlements or other liabilities they may have been entitled to receive from the Company or Novellus in respect of the Covered Claims. The Company and the Founders will share in any recoveries up to the point at which the parties have been fully compensated for legal fees, costs and expenses incurred, with the Company retaining any excess recoveries. The Company has the sole authority to direct and control the prosecution, defense and settlement of the Covered Claims. On February 20, 2023, the Company, entered into an exclusive license agreement (the “Feb 2023 Factor Exclusive License Agreement”) with Factor Limited, pursuant to which Factor Limited granted to the Company an exclusive, sublicensable, worldwide license under certain patents owned by Factor Limited for the purpose of, among other things, identifying and pursuing certain opportunities to develop products in respect of such patents and to otherwise grant to third parties sublicenses to such patents. The Feb 2023 Factor Exclusive License Agreement, which terminated and superseded the Amended Factor License Agreement, was subsequently terminated and superseded by the A&R Factor License Agreement (as defined below). On November 14, 2023, the Company entered into an amended and restated exclusive license agreement (the “A&R Factor License Agreement”) with Factor Limited to replace in its entirety the exclusive license agreement between the parties dated February 20, 2023 and the amendment thereto. Under the A&R Factor License Agreement, Factor Limited granted to the Company an exclusive, sublicensable license under certain patents owned by Factor Limited (the “Factor Patents”). The A&R Factor License Agreement also provides for, among other things, the expansion of the Company’s license rights to include (i) the field of use of the Factor Patents to include veterinary uses (ii) know-how that is necessary or reasonably useful to practice to the licensed patents, (iii) the ability to sublicense through multiple tiers (as opposed to only permitting a direct sublicense) and (iv) the transfer of technology to the Company, subject to the use restrictions in the A&R Factor License Agreement. The A&R Factor License Agreement was subsequently terminated and superseded by the Factor L&C Agreement discussed below. On September 24, 2024, the Company entered into the Factor L&C Agreement, effective as of September 9, 2024, with Factor Limited. The Factor L&C Agreement terminated the A&R Factor License Agreement as well as the Purchased License that Exacis entered into with Factor Bioscience on November 4, 2020, which the Company acquired pursuant to the Exacis Purchase Agreement with Exacis and certain stockholders of Exacis on April 26, 2023. Under the Factor L&C Agreement, the Company has obtained exclusive licenses in the fields of cancer, autoimmune disorders, and rare diseases with respect to certain licensed technology and has the right to develop the licensed technology directly or enter into co-development agreements with partners who can help bring such technology to market. The Factor L&C Agreement also provides for certain services and materials to be provided by Factor Bioscience to facilitate the development of the licensed technology and to enable the Company to scale up production at third party facilities. The initial term of the Factor L&C Agreement is one year after the effective date, and it automatically renews yearly thereafter. The Company may terminate the Factor L&C Agreement for any reason upon <span id="xdx_900_ecustom--NoticePeriodForCustomaryTerminationRights_dtD_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember_z7ECNSfSmfo" title="Notice period for customary termination rights">90 days’ written notice to Factor Bioscience, and the parties otherwise have customary termination rights, including in connection with certain uncured material breaches and specified bankruptcy events. Pursuant to the Factor L&C Agreement, the Company will pay Factor Bioscience approximately $<span id="xdx_905_eus-gaap--OperatingCostsAndExpenses_pn5n6_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember__srt--StatementScenarioAxis__custom--FirstTwelveMonthsMember_zHEGlqO68s97" title="Costs">0.2 million per month for the first twelve months, approximately $<span id="xdx_900_eus-gaap--OperatingCostsAndExpenses_pn5n6_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember__srt--StatementScenarioAxis__custom--FirstNineMonthsMember_zAxoI2V9UYm7" title="Costs">0.1 million per month for the first nine months toward patent costs, certain milestone payments, royalty payments on net sales of commercialized products and sublicensing fee payments. Exacis Asset Acquisition On April 26, 2023, the Company closed the Exacis Acquisition. See Note 4 for additional information. The Exacis Acquisition was deemed a related party transaction because, at the time of the acquisition, (i) Dr. Gregory Fiore was both the chief executive officer of Exacis and a member of the Company’s board of directors, (ii) Dr. Angel was both the Company’s chief executive officer and chairman of Exacis’ scientific advisory board, and (iii) an affiliate of Factor Bioscience was the majority stockholder of Exacis. Consulting Agreement with Former Director In May 2023, the Company entered into a consulting agreement with Dr. Fiore, whereby Dr. Fiore agreed to provide business development consulting services to the Company for a monthly retainer of $20,000. The consulting agreement was terminable for any reason by either party upon 15 days’ written notice. The Company terminated the consulting agreement, effective July 31, 2023. Dr. Fiore served on the Company’s board of directors from June 2022 to October 4, 2023. July 2023, December 2023 and September 2024 Financings Investors in the July 2023 Convertible Note financing included Brant Binder, Richard Wagner, Charles Cherington and Nicholas Singer, and investors in the December 2023 Convertible Note financing and the September 2024 financing included Messrs. Cherington and Singer. Each of them participated in the applicable financing under the same terms and subject to the same conditions as all the other investors. See Note 6 for additional information regarding the financings. Mr. Binder served on the Company’s board of directors from July 6, 2023 to August 8, 2023, Mr. Wagner served on the Company’s board of directors from July 6, 2023 to August 8, 2023, Mr. Cherington served on the Company’s board of directors from March 2021 to July 6, 2023, and Mr. Singer served on the Company’s board of directors from June 2022 to July 6, 2023.

P75D P120D 5000000.0 P12M 400000 5000000.0 3500000 400000 P90D

200000

100000

20000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">12)</td> <td style="text-align: justify">Accrued Expenses</td></tr> </table> ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accrued expenses at December 31, 2024 and 2023 consisted of the following (in thousands): SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_zuUnz5jO3GWj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231231_z8igWz7iSTr3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_pn3n3_maALCzPun_z7NaAehH5rqa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">239</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedLegalFeesAndRelatedCurrent_iI_pn3n3_maALCzPun_ziaI5nGHwQOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzPun_zInMJpT3d92b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzPun_zXW3ga9EvxN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible notes interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedSomervilleFacilityCurrent_iI_pn3n3_maALCzPun_zzfilzorAAse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Somerville facility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maALCzPun_zJKkQbWgCgre" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">434</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzPun_zxHjjytS4An8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,007</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,893</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses at December 31, 2024 and 2023 consisted of the following (in thousands): SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_zuUnz5jO3GWj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231231_z8igWz7iSTr3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_pn3n3_maALCzPun_z7NaAehH5rqa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">239</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedLegalFeesAndRelatedCurrent_iI_pn3n3_maALCzPun_ziaI5nGHwQOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzPun_zInMJpT3d92b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzPun_zXW3ga9EvxN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible notes interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedSomervilleFacilityCurrent_iI_pn3n3_maALCzPun_zzfilzorAAse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Somerville facility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maALCzPun_zJKkQbWgCgre" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">434</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzPun_zxHjjytS4An8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,007</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,893</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

238000

239000

323000 643000

12000

109000

176000

218000

434000

508000

1007000

1893000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">13)</td> <td style="text-align: justify">Commitments and Contingencies</td></tr> </table> COMMITMENTS AND CONTINGENCIES Litigation Matters The Company is involved in litigation and arbitrations from time to time in the ordinary course of business. Legal fees and other costs associated with such actions are expensed as incurred. In addition, the Company assesses the need to record a liability for litigation and contingencies. The Company reserves for costs relating to these matters when a loss is probable, and the amount can be reasonably estimated. Novellus, Inc. v. Sowyrda et al., C.A. No. 2184CV02436-BLS2 On October 25, 2021 Novellus, Inc. filed a complaint in the Superior Court of Massachusetts, Suffolk County, against former Novellus, Inc. employees Paul Sowyrda and John Westman and certain other former investors in Novellus LLC (Novellus, Inc.’s former parent company prior to our acquisition of Novellus, Inc.), alleging breach of fiduciary duty, breach of contract and civil conspiracy. Ernexa acquired Novellus, Inc. on July 16, 2021. On May 27, 2022 Novellus, Inc. amended the complaint to withdraw all claims against all defendants except Paul Sowyrda and John Westman. On July 1, 2022, Westman filed a motion to compel arbitration or in the alternative, to stay the litigation pending the disposition of certain litigation in the Court of Chancery for the State of Delaware filed by Mr. Sowyrda against Novellus LLC, Dr. Christopher Rohde, Dr. Matthew Angel, Leonard Mazur and Factor Bioscience, Inc. captioned Zelickson et al., v. Angel et al., C.A. 2021-1014-JRS and by Westman against Novellus LLC captioned Westman v. Novellus LLC, C.A. No. 2021-0882-NAC (together, the “Delaware Actions”). On July 1, 2022, Sowyrda answered the complaint and asserted counterclaims against Novellus, Inc, and third-party defendants Dr. Matthew Angel and Dr. Christopher Rohde alleging violations of the Massachusetts Wage Act, Massachusetts Minimum Fair Wage Law, the Fair Labor Standards Act, breach of contract, unjust enrichment and quantum meruit. Sowyrda also joined in Westman’s motion to stay the case pending the Delaware Actions. Novellus, Inc.’s claims and Mr. Sowyrda’s counterclaims relate to alleged conduct that took place before Ernexa acquired Novellus, Inc. On November 15, 2022, prior to a decision on Westman’s and Sowyrda’s motion to compel or stay, the parties agreed to voluntarily dismiss and consolidate the Delaware Actions with this action. On December 15, 2022, Sowyrda filed an Amended Answer to the Amended Complaint, asserted affirmative defenses and filed Amended Counterclaims against Dr. Angel, Dr. Rohde, Novellus LLC, Novellus Inc., Factor Bioscience Inc., and Ernexa Therapeutics Inc. (collectively, the “Counterclaim Defendants”) alleging against various Counterclaim Defendants breach of contract, breaches of the implied duty of good faith and fair dealing, breaches of fiduciary duty, breaches of the operating agreement, aiding and abetting breaches of fiduciary duty, tortious interference with contract, equitable accounting, violations of the Massachusetts Wage Act, Massachusetts Minimum Fair Wage Law, the Fair Labor Standards Act, unjust enrichment, and quantum meruit. Also on December 15, 2022, Westman filed an answer to the Amended Complaint and asserted similar counterclaims against the same Counterclaim Defendants. Westman and Sowyrda each asserted claims for indemnification and/or advancement against Novellus, Inc. On January 11, 2023, Westman and Sowyrda served a joint motion to enforce their advancement and/or indemnification rights against Novellus Inc. Novellus Inc. vigorously opposes this motion and served its opposition on January 27, 2023. On February 8, 2023, Westman and Sowyrda served a reply in support of their motion to enforce indemnification/advancement rights, and submitted the motion to the Court. Novellus Inc. answered Westman and Sowyrda’s counterclaims on January 27, 2023, denying liability. The remaining Counterclaim Defendants served a motion to dismiss most of the remaining counterclaims on January 27, 2023. The Court entered an order granting the Counterclaim Defendants’ motion to dismiss and denying Sowyrda and Westman’s motion to enforce on June 15, 2023. The Court’s order dismissed all of Westman’s claims against Counterclaim Defendants except his claim for indemnification, and all of Sowyrda’s claims except his claim for indemnification and his employment-related claims, which Counterclaim Defendants did not move to dismiss. On July 6, 2023, Westman and Sowyrda filed a petition for interlocutory review with a single justice of the Massachusetts Appeals Court, seeking to overturn the judge’s decision granting the Counterclaim Defendants’ motion to dismiss most of the remaining counterclaims, but not the decision denying Westman and Sowyrda’s motion to enforce advancement rights. On July 25, 2023, the parties to the appeal filed a joint motion to the single justice in the appellate court to stay the appeal to allow for amended counterclaims to be filed by Counterclaim Plaintiffs and a motion to dismiss to be filed by Counterclaim Defendants. Counterclaim Plaintiffs filed an initial set of amended counterclaims on August 15, 2023. Counterclaim Plaintiffs amended and refiled their amended counterclaims on September 29, 2023. Counterclaim Defendants served their motion to dismiss all of the amended counterclaims, except for Sowyrda’s employment-related claims, on October 13, 2023. On June 13, 2024, the motion to dismiss was denied and the court set a schedule for discovery limited to a threshold factual issue. Discovery as to all other issues pertaining to the counterclaims was stayed. On July 15, 2024, Westman and Sowyrda requested that the single justice in the appellate court continue to stay the appeal pending the outcome of the limited discovery ordered by the Court. On July 31, 2024, Counterclaim Defendants and Sowyrda informed the Court that they had reached a settlement and requested that all claims pending between them be dismissed with prejudice, and on August 9, 2024, the Court approved the motion for approval of dismissal of all such claims with prejudice. Pursuant to the Court’s June 13, 2024 order, Counterclaim Defendants engaged in limited discovery with Westman.. The Counterclaim Defendants and Westman are currently in settlement discussions, and the Counterclaim Defendants and Westman requested a stay of all remaining deadlines pending memorialization of such discussions. The Court granted that motion on February 11, 2025. The Company has accrued approximately $0.2 million for this matter in the year ended December 31, 2024. eTheRNA Immunotherapies NV and eTheRNA Inc. v. Eterna Therapeutics Inc. C.A. No. 123CV11732 On July 31, 2023, eTheRNA Immunotherapies NV and eTheRNA Inc. filed a complaint against the Company alleging the following claims: (1) federal trademark infringement; (2) federal unfair competition; (3) Massachusetts state common law trademark infringement; (4) Massachusetts state unfair competition. On April 2, 2024, the parties settled the claims and stipulated to dismiss the complaint with prejudice. Per the settlement agreement entered into between the parties on March 19, 2024, the Company planned to phase-out its current use of the ETERNA trademark by October 31, 2024. On October 6, 2024, the parties entered into an addendum to the settlement agreement extending the deadline for phasing out the Company’s use of the ETERNA trademark until March 31, 2025. If the Company continues to use the Eterna Therapeutics name as of April 1, 2025, it will be obligated to pay €667 per day that it continues to do so. Licensing Agreements On September 24, 2024, the Company entered into the Factor L&C Agreement. See Note 11 for details of this agreement. Retirement Savings Plan The Company established a defined contribution plan, organized under Section 401(k) of the Internal Revenue Code, which allows employees to defer up to <span id="xdx_904_ecustom--DefinedContributionPlanDeferralPercentOfTheirPayOnPreTaxBasis_pid_dp_uPure_c20220101__20221231__srt--RangeAxis__srt--MaximumMember_z6oezHuM5Ak2" title="Employees contribution, deferral percentage of their pay on a pre-tax basis">90% of their pay on a pre-tax basis. Beginning on January 1, 2023, the Company began matching employees’ contributions at a rate of <span id="xdx_90C_ecustom--DefinedContributionPlanDeferralPercentOfTheirPayOnPreTaxBasis_pid_dp_uPure_c20230101__20230101__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zTz0U79c8ewf" title="Employees contribution, deferral percentage of their pay on a pre-tax basis">100% of the first <span id="xdx_90E_ecustom--DefinedContributionPlanEmployerMatchingContributionPercentOfMatchOne_pid_dp_uPure_c20230101__20230101__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_z7klBgz9AFj3" title="Employer matching contribution up to first 3%">3% of the employee’s contribution and <span id="xdx_901_ecustom--DefinedContributionPlanEmployeeContributionAtThresholdOne_pid_dp_uPure_c20230101__20230101__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_z27MKf1qLzad" title="Employee contribution threshold for matching percentage">50% of the next <span id="xdx_907_ecustom--DefinedContributionPlanEmployerMatchingContributionPercentOfMatchTwo_pid_dp_uPure_c20230101__20230101__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_z7GHCYZu2tF5" title="Employer matching contribution in excess of first 2%">2% of the employee’s contribution, for a maximum Company match of <span id="xdx_900_ecustom--DefinedContributionPlanEmployeeContributionAtThresholdTwo_pid_dp_uPure_c20230101__20230101__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zfH7ccGrLKqa" title="Deferred compensation matched by employer, next match">4%. The Company matched less than $<span id="xdx_90C_eus-gaap--DefinedContributionPlanEmployerDiscretionaryContributionAmount_pn5n6_c20240101__20241231__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember__srt--RangeAxis__srt--MaximumMember_zXJ6EmRtImvl" title="Employer matching contributions"><span id="xdx_90D_eus-gaap--DefinedContributionPlanEmployerDiscretionaryContributionAmount_pn5n6_c20230101__20231231__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember__srt--RangeAxis__srt--MaximumMember_zWNBJ1DkDjdb" title="Employer matching contributions">0.1 million towards employees’ 401k contributions for each of the years ended December 31, 2024 and 2023.

200000

667

0.90 1 0.03 0.50 0.02 0.04

100000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">14)</td> <td style="text-align: justify">Basic and Diluted Net Loss per Common Share</td></tr> </table> NET LOSS PER SHARE The following table sets forth the computation of the net loss per share attributable to common stockholders, basic and diluted (in thousands, except per share data): SCHEDULE OF COMPUTATION OF NET LOSS PER SHARE BASIC AND DILUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zLJauCIdgrcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zPekSaBkhtI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn3n3_z6p8A5D9RLJ6" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Net loss attributable to common stockholders</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">(44,555</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">(21,684</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average shares outstanding - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">910</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">354</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss per common share - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(48.96</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(61.25</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Since the Company was in a net loss position for all periods presented, the net loss per share attributable to common stockholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. <p id="xdx_896_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_ziJNr6kQDDQ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table presents the amount of stock options, warrants, convertible preferred stock, convertible notes and restricted stock units (“RSUs”) that were excluded from the computation of diluted net loss per share of common stock for the years ended December 31, 2024 and 2023, as their effect was anti-dilutive (in thousands): SCHEDULE OF SECURITIES EXCLUDED FROM THE COMPUTATION OF DILUTED NET LOSS PER COMMON STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20241231_zK79WKxkl44" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_z5J1Hl8vDjh1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zdVmegLjX5dl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">26</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zDojTPdgfngl" style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zFjZ84Fnn06e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Preferred stock converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleCommonStockMember_zFwZ9HRSucx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible Notes converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">525</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zK1hh5zhal1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">RSUs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_zjLX1oz8BjE3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total potential common shares excluded from computation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">209</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table sets forth the computation of the net loss per share attributable to common stockholders, basic and diluted (in thousands, except per share data): SCHEDULE OF COMPUTATION OF NET LOSS PER SHARE BASIC AND DILUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zLJauCIdgrcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zPekSaBkhtI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Numerator:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn3n3_z6p8A5D9RLJ6" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Net loss attributable to common stockholders</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">(44,555</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">(21,684</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average shares outstanding - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">910</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">354</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss per common share - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(48.96</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(61.25</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-44555000

-21684000

910000

354000

-48.96

-61.25

<p id="xdx_896_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_ziJNr6kQDDQ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table presents the amount of stock options, warrants, convertible preferred stock, convertible notes and restricted stock units (“RSUs”) that were excluded from the computation of diluted net loss per share of common stock for the years ended December 31, 2024 and 2023, as their effect was anti-dilutive (in thousands): SCHEDULE OF SECURITIES EXCLUDED FROM THE COMPUTATION OF DILUTED NET LOSS PER COMMON STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20241231_zK79WKxkl44" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_z5J1Hl8vDjh1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zdVmegLjX5dl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">26</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zDojTPdgfngl" style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zFjZ84Fnn06e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Preferred stock converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleCommonStockMember_zFwZ9HRSucx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible Notes converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">525</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zK1hh5zhal1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">RSUs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_zjLX1oz8BjE3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total potential common shares excluded from computation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">209</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,813</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

175000

26000

32000

1261000

2000

1000

525000

209000

1813000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">15)</td> <td style="text-align: justify">Stock-Based Compensation</td></tr> </table> STOCK-BASED COMPENSATION Equity Incentive Plans The Company’s stock-based compensation plans consist of the Restated 2020 Equity Incentive Plan (the “Restated 2020 Plan”) and the 2021 Inducement Equity Incentive Plan (the “2021 Inducement Plan”). The Company’s board of directors has designated its compensation committee as the administrator of the foregoing plans (the “Plan Administrator”). Among other things, the Plan Administrator selects persons to receive awards under the foregoing plans and determines the number of shares subject to each award and the terms, conditions, performance measures, if any, and other provisions of the award. The Restated 2020 Plan provides for (a) approximately <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zeXX9p3oXINf" title="Stock-based compensation shares authorized">48,000 shares of common stock that can be issued under the Restated 2020 Plan, which includes an increase to the Restated 2020 Plan of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20240101__20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zSzix0rQTrr4" title="Increase in stock-based compensation shares authorized">20,000 that was approved by the Company’s stockholders at the 2023 annual meeting of stockholders in June 2023, and (b) an annual increase in the number of shares reserved for issuance on January 1 of each year from 2022 through 2031 equal to the lesser of (i) <span id="xdx_902_ecustom--PercentageOfSharesOfCommonStockOutstanding_iI_pid_dp_c20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember_zvmP9QIl84ok" title="Percentage of shares of common stock outstanding">5% of the number of shares of common stock outstanding on the immediately preceding December 31 and (ii) such smaller number of shares of common stock as may be determine by the board of directors (the provision providing for the increase described in clause (b) is referred to as the “evergreen provision”). Pursuant to the evergreen provision, shares issuable under the Restated 2020 Plan was increased by approximately <span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuableInPeriod_c20240101__20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember_zRIsz3SzHs55" title="Number of shares issuable">35,000 in the aggregate. Awards under the Restated 2020 Plan may be granted to officers, directors, employees and consultants of the Company. Stock options granted under the Restated 2020 Plan may either be incentive stock options or nonqualified stock options, may have a term of up to <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dc_c20240101__20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember__srt--RangeAxis__srt--MaximumMember_zATWOuPlyZEb" title="Stock based compensation stock option term period">ten years, and are exercisable at a price per share not less than the fair market value, as defined in the Restated 2020 Plan, on the date of grant. As of December 31, 2024, there were approximately <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember_zP5nDVYLEZa4" title="Stock option outstanding">57,000 stock options outstanding and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_do_c20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember_zXZZNDxMI2j9" title="RSUs outstanding">no RSUs outstanding under the Restated 2020 Plan. As of December 31, 2024, there were approximately <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--EquityIncentivePlanTwoThousandTwentyMember_zFYuikPebY6" title="Number of common stock shares to be issued">25,000 shares of common stock remaining to be issued under the Restated 2020 Plan. The 2021 Inducement Plan provides for the grant of up to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20241231__us-gaap--PlanNameAxis__custom--InducementPlanTwoThousandTwentyOneMember__srt--RangeAxis__srt--MaximumMember_zHLfKTJpuNjb" title="Stock-based compensation shares authorized">5,000 share-based awards as material inducement awards to new employees in accordance with the employment inducement grant rules set forth in Section 711(a) of the NYSE American LLC Company Guide (the Company’s common stock was listed on the NYSE American at the time the 2021 Inducement Plan was adopted). The 2021 Inducement Plan expires in May 2031. As of December 31, 2024, there were approximately <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--InducementPlanTwoThousandTwentyOneMember_zT3Zx50xuQna" title="Number of common stock shares to be issued">5,000 shares of common stock remaining to be issued under the 2021 Inducement Plan. As of December 31, 2023, there were <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_do_c20241231__us-gaap--PlanNameAxis__custom--InducementPlanTwoThousandTwentyOneMember_zzjqWxX73n2a" title="Stock option outstanding">no stock options outstanding and <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20241231__us-gaap--PlanNameAxis__custom--InducementPlanTwoThousandTwentyOneMember_zlsXkoseD9c7" title="RSUs outstanding">30 RSUs outstanding under the 2021 Inducement Plan. Equity Awards Stock Options <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z1zjNjFDMvlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following weighted-average assumptions were used for stock options granted during the years ended December 31, 2024 and 2023: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS USED FOR STOCK OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z2Bfn6OOhqO8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z5l0c0kuQPne" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_zsmbgOC66FM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Weighted average risk-free rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.44</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.82</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_ze2w7LNO5J04" style="vertical-align: bottom; background-color: White"> <td>Weighted average volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98.09</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95.15</td><td style="text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_z0KpNbQ2tocj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zFVnz6fK5QEh" title="Expected term">6.04 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGj7pWmwEPo3" title="Expected term">5.44 years</td><td style="text-align: left"> </td></tr> </table> The risk-free rate is based on the observed interest rates appropriate for the expected life. The expected life (estimated period of time outstanding) of the stock options granted is estimated using the “simplified” method as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment. Expected volatility is based on the volatility of the Company’s peer group over the expected life of the stock option granted, and the Company assumes no dividends. Forfeitures are recognized as incurred. <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zgEWq5C2jv2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table summarizes stock option activity for the years ended December 31, 2024 and 2023 (in thousands except for per-share and remaining contractual life data): SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; font-weight: bold">Outstanding January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXc8f29I6FUj" style="width: 12%; text-align: right" title="Outstanding options, beginning balance">24</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zvB2cyslmRH8" style="width: 12%; text-align: right" title="Weighted average exercise price per share, Beginning balance">858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z6wwTZCdMUJ3" style="width: 12%; text-align: right" title="Weighted-average remaining contractual life, outstanding">7.57</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIlpQQRfebok" style="width: 12%; text-align: right" title="Aggregate intrinsic value, beginning balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztKQ49vQB0ia" style="text-align: right" title="Options, Granted">16</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zc5vCddfzw43" style="text-align: right" title="Weighted average exercise price per share, Granted">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zix007b80qy1" style="border-bottom: Black 1pt solid; text-align: right" title="Options, Cancelled">(14</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zKT99b8McrYj" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price per share, Cancelled">288</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Outstanding December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zfyRC8t0yzbc" style="text-align: right" title="Outstanding options, Beginning balance">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7OWU6Y7CTDj" style="text-align: right" title="Weighted average exercise price per share, Beginning balance">675</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaroOgAhKnJk" style="text-align: right" title="Weighted-average remaining contractual life, outstanding">7.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE48NgkE8Mrb" style="text-align: right" title="Aggregate intrinsic value, Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zdgrD5x07YVj" style="text-align: right" title="Options, Granted">166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUOLIvG1hi6c" style="text-align: right" title="Weighted average exercise price per share, Granted">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGMpApzevyv4" style="border-bottom: Black 1pt solid; text-align: right" title="Options, Cancelled">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zI3ydLY50iL8" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price per share, Cancelled">120</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaZe14I7I3T5" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding options, Ending balance">175</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztDHrnICXbR3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, Ending balance">113</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJthorPWNWk8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average remaining contractual life (in years), Outstanding">8.77</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuFD7xROP8Xb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, Ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Options vested and exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iE_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_znTZWVLq4pd5" style="border-bottom: Black 2.5pt double; text-align: right" title="Options vested and exercisable, outstanding">17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJD898gD7nOb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, Options vested and exercisable">911</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z2EgRZnOYWH2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average remaining contractual life, Options vested and exercisable">5.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zb7WkscxIVW6" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, Options vested and exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The per-share weighted average grant-date fair value of stock options granted during the year ended December 31, 2024 and 2023 was $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z1yJY9xUgUx2" title="Weighted average grant date fair value">44.81 and $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwem7YLQFOog" title="Weighted average grant date fair value">20.77, respectively. As of December 31, 2024, the unamortized stock-based compensation expense related to outstanding unvested options was approximately $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zeo1unIhkmp1" title="Unamortized stock-based compensation expense">2.3 million with a weighted average remaining requisite service period of <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zD47sNuvUD3g" title="Weighted average remaining requisite service period">1.91 years. The Company expects to amortize this expense over the remaining requisite service period of these stock options. Vesting of all stock options is subject to continuous service with the Company through their applicable vesting dates. On January 1, 2024, Sanjeev Luther was appointed as President, Chief Executive Officer and a director of the Company. Upon his appointment, he was granted a non-qualified stock option to purchase approximately <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember_zUdnbkV23Wxk" title="Stock options granted">112,000 shares of the Company’s common stock. The stock option has an exercise price of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember_zfhwDhwTeyL2" title="Exercise price">27.00 per share, which was equal to the fair market value (as defined in the 2020 Restated Equity Incentive Plan) of the Company’s common stock on the date of grant, will vest over <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember_zpxmYRlUXVr8" title="Vesting period">four years, with <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zKYDKKJAolBg" title="Vesting percentage">25% of the shares vesting on the first anniversary of the grant date and the remaining <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zzgMIjvYm7h3" title="Vesting percentage">75% of the shares vesting in equal <span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFrequencyOfPeriodicInstallment_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember_zgVnUJR5aBl3" title="Frequency of stock vesting installments">monthly installments over the <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20240101__20240101__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zfK93YU6Jb0a" title="Vesting period">three years thereafter, in each case, subject to continued service. The stock option was granted pursuant to the terms of Mr. Luther’s employment agreement and as a material inducement to his joining the Company in accordance with Nasdaq Listing Rule 5635(c)(4). On April 26, 2024, the vesting terms of Mr. Luther’s stock option award were amended so that the option vests over <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_pp0d_dc_c20240426__20240426__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zAxzE87UNXu3" title="Vesting period">three years, with <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20240426__20240426__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zIx9IWrOmSl1" title="Vesting percentage">25% of the shares vesting on the first anniversary of the grant date and the remaining <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_uPure_c20240426__20240426__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_z69G5wkzF802" title="Vesting percentage">75% of the shares will vest in equal <span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFrequencyOfPeriodicInstallment_c20240426__20240426__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGk4ZWhLyFHj" title="Frequency of stock vesting installments">monthly installments over the remaining <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20240426__20240426__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_z5livz1Bfm3k" title="Vesting period">two years, in each case, subject to continued service. Since the only modification to Mr. Luther’s stock option award was to the vesting terms, there was no change to the fair value of the stock option and the total compensation cost was unchanged. However, the total compensation cost will be recognized over three years rather than four years, and as a result, the Company recognized approximately $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240101__20241231__srt--TitleOfIndividualAxis__custom--PresidentChiefExecutiveOfficerAndDirectorMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjH3KQBMOZP4" title="Stock-based compensation expense">0.1 million in additional stock-based compensation expense during the year ended December 31, 2024 as a result of the modification. Restricted Stock Units <p id="xdx_893_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zxLE1ZczTMzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table summarizes RSU activity for the years ended December 31, 2024 and 2023 (in thousands except for per-share data): SCHEDULE OF RSU ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding Restricted Stock Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zj1n0tp4CpN6" style="width: 16%; text-align: right" title="Outstanding, Beginning balance">4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxsfSGPOEtG" style="width: 16%; text-align: right" title="Weighted average fair value per share, Beginning balance">3,540</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zybeqXtyvBg2" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Stock Units, Cancelled">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFMhEvGDfY09" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Cancelled">2,985</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt">December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3lSQn4qlJgk" style="border-bottom: Black 1pt solid; text-align: right" title="Outstanding Restricted Stock Units, Beginning balance">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEp4YXcfJqlk" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Beginning balance">4,830</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zukIA1VQsibb" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Stock Units, Cancelled">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYmNCNeQMD3i" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Cancelled">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNAjCZ7luBel" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding Restricted Stock Units, Ending balance">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmVTp6csoJaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value per share, Ending balance">4,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Balance expected to vest at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAV8jiQehFbg" style="border-bottom: Black 2.5pt double; text-align: right" title="Restricted Stock Units, Balance expected to vest">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantExpectedToDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNwbpUwNkDVe" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value per share, Balance expected to vest">4,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company recognizes the fair value of RSUs granted as expense on a straight-line basis over the requisite service period. For performance based RSUs, the Company begins recognizing the expense once the achievement of the related performance goal is determined to be probable. Outstanding RSUs are settled in an equal number of shares of common stock on the vesting date of the award. An RSU award is settled only to the extent vested. Vesting generally requires the continued employment or service by the award recipient through the respective vesting date. Because RSUs are settled in an equal number of shares of common stock without any offsetting payment by the recipient, the measurement of cost is based on the quoted market price of the stock at the measurement date, which is the grant date. In lieu of paying cash to satisfy withholding taxes due upon the settlement of vested RSUs, at the Company’s discretion, an employee may elect to have shares of common stock withheld that would otherwise be issued at settlement, the value of which is equal to the amount of withholding taxes payable. During the years ended December 31, 2024 and 2023, approximately <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmvAoKh9miR3" title="RSUs vested"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z9MmLJoifvd" title="RSUs vested"> 30 RSUs vested in each year. Stock-Based Compensation Expense <p id="xdx_898_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z2yPsvCIZx9k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">For the years ended December 31, 2024 and 2023, the Company recognized stock-based compensation expense as follows (in thousands): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zZrRet2a1NOg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230101__20231231_zyNbgInssfXh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zmQIgkFkbuW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">89</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">234</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zAPMY4MVtDrj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,431</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zfkVdNZb30m4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,520</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

48000

20000

0.05 35000

P10Y

57000

25000

5000

<p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z1zjNjFDMvlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following weighted-average assumptions were used for stock options granted during the years ended December 31, 2024 and 2023: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS USED FOR STOCK OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z2Bfn6OOhqO8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z5l0c0kuQPne" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_zsmbgOC66FM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Weighted average risk-free rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.44</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.82</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_ze2w7LNO5J04" style="vertical-align: bottom; background-color: White"> <td>Weighted average volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98.09</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95.15</td><td style="text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_z0KpNbQ2tocj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zFVnz6fK5QEh" title="Expected term">6.04 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGj7pWmwEPo3" title="Expected term">5.44 years</td><td style="text-align: left"> </td></tr> </table>

0.0444

0.0382

0.9809

0.9515

P6Y14D

P5Y5M8D

<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zgEWq5C2jv2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table summarizes stock option activity for the years ended December 31, 2024 and 2023 (in thousands except for per-share and remaining contractual life data): SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; font-weight: bold">Outstanding January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXc8f29I6FUj" style="width: 12%; text-align: right" title="Outstanding options, beginning balance">24</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zvB2cyslmRH8" style="width: 12%; text-align: right" title="Weighted average exercise price per share, Beginning balance">858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z6wwTZCdMUJ3" style="width: 12%; text-align: right" title="Weighted-average remaining contractual life, outstanding">7.57</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIlpQQRfebok" style="width: 12%; text-align: right" title="Aggregate intrinsic value, beginning balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztKQ49vQB0ia" style="text-align: right" title="Options, Granted">16</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zc5vCddfzw43" style="text-align: right" title="Weighted average exercise price per share, Granted">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zix007b80qy1" style="border-bottom: Black 1pt solid; text-align: right" title="Options, Cancelled">(14</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zKT99b8McrYj" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price per share, Cancelled">288</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Outstanding December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zfyRC8t0yzbc" style="text-align: right" title="Outstanding options, Beginning balance">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7OWU6Y7CTDj" style="text-align: right" title="Weighted average exercise price per share, Beginning balance">675</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaroOgAhKnJk" style="text-align: right" title="Weighted-average remaining contractual life, outstanding">7.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE48NgkE8Mrb" style="text-align: right" title="Aggregate intrinsic value, Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zdgrD5x07YVj" style="text-align: right" title="Options, Granted">166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUOLIvG1hi6c" style="text-align: right" title="Weighted average exercise price per share, Granted">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGMpApzevyv4" style="border-bottom: Black 1pt solid; text-align: right" title="Options, Cancelled">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zI3ydLY50iL8" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price per share, Cancelled">120</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaZe14I7I3T5" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding options, Ending balance">175</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztDHrnICXbR3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, Ending balance">113</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJthorPWNWk8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average remaining contractual life (in years), Outstanding">8.77</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuFD7xROP8Xb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, Ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Options vested and exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iE_pn3n3_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_znTZWVLq4pd5" style="border-bottom: Black 2.5pt double; text-align: right" title="Options vested and exercisable, outstanding">17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJD898gD7nOb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, Options vested and exercisable">911</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z2EgRZnOYWH2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average remaining contractual life, Options vested and exercisable">5.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zb7WkscxIVW6" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, Options vested and exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

24000

858

P7Y6M25D

16000

14000

288

26000

675

P7Y14D

166000

17000

120

175000

113

P8Y9M7D

17000

911

P5Y6M29D

44.81

20.77

2300000

P1Y10M28D

112000

27.00

P4Y

0.25

0.75

monthly installments

P3Y

0.25

0.75

monthly installments

P2Y

100000

<p id="xdx_893_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zxLE1ZczTMzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The following table summarizes RSU activity for the years ended December 31, 2024 and 2023 (in thousands except for per-share data): SCHEDULE OF RSU ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding Restricted Stock Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zj1n0tp4CpN6" style="width: 16%; text-align: right" title="Outstanding, Beginning balance">4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxsfSGPOEtG" style="width: 16%; text-align: right" title="Weighted average fair value per share, Beginning balance">3,540</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zybeqXtyvBg2" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Stock Units, Cancelled">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFMhEvGDfY09" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Cancelled">2,985</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1pt">December 31, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3lSQn4qlJgk" style="border-bottom: Black 1pt solid; text-align: right" title="Outstanding Restricted Stock Units, Beginning balance">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEp4YXcfJqlk" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Beginning balance">4,830</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zukIA1VQsibb" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Stock Units, Cancelled">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYmNCNeQMD3i" style="padding-bottom: 1pt; text-align: right" title="Weighted average fair value per share, Cancelled">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNAjCZ7luBel" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding Restricted Stock Units, Ending balance">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmVTp6csoJaa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value per share, Ending balance">4,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Balance expected to vest at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAV8jiQehFbg" style="border-bottom: Black 2.5pt double; text-align: right" title="Restricted Stock Units, Balance expected to vest">1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantExpectedToDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNwbpUwNkDVe" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value per share, Balance expected to vest">4,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4000

3540

3000

2985

1000

4830

1000

4830

1000 4830

<p id="xdx_898_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z2yPsvCIZx9k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">For the years ended December 31, 2024 and 2023, the Company recognized stock-based compensation expense as follows (in thousands): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zZrRet2a1NOg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230101__20231231_zyNbgInssfXh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Years ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zmQIgkFkbuW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">89</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">234</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zAPMY4MVtDrj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,431</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zfkVdNZb30m4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,520</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

89000

234000

1431000

1008000

1520000

1242000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">16)</td> <td style="text-align: justify">Stockholders’ Equity and Warrants</td></tr> </table> EQUITY TRANSACTIONS Warrants During the year ended December 31, 2024, the Company had the following warrant activity (in thousands): SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding January 1, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Granted</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exchanged Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zWjv6l29Xym7" style="width: 12%; text-align: right" title="Warrants outstanding, beginning balance">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zmL9488qGebi" style="width: 12%; text-align: right" title="Warrants, granted">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zPWjHxieC7a8" style="width: 12%; text-align: right" title="Warrants, exchanged">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zqHyOA2mJxDl" style="width: 12%; text-align: right" title="Warrants outstanding, ending balance">23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zrh9X4rxS5k8" style="text-align: right" title="Warrants outstanding, beginning balance">291</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zQJ1jNN1TIkg" style="text-align: right" title="Warrants, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zUoo8odXApDc" style="text-align: right" title="Warrants, exchanged">(282</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zvrSopAF7gx2" style="text-align: right" title="Warrants outstanding, ending balance">9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>July 2023 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zCCwPANFVx2k" style="text-align: right" title="Warrants outstanding, beginning balance">406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zpqocXD89i7l" style="text-align: right" title="Warrants, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z2eu3KcSBp4" style="text-align: right" title="Warrants, exchanged">(406</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zdgvmICIkjz7" style="text-align: right" title="Warrants outstanding, ending balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zGiSKlB2dpDa" style="text-align: right" title="Warrants outstanding, beginning balance">541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_ziaaGMDgVtig" style="text-align: right" title="Warrants, granted">98</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zPMQbePASThc" style="text-align: right" title="Warrants, exchanged">(639</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zgeCZCk8tVee" style="text-align: right" title="Warrants outstanding, ending balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zxLtJuXmUzR1" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, beginning balance">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zwAcN3BpQO7f" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, granted">125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zBuLlbVOLnfc" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, exchanged">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_ziDdYvwTD6ga" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">125</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231_zm9yeQjSqhs2" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Beginning balance">1,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231_zdIxiqEC5D38" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, granted">223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231_zKG7pC3Le63a" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, exchanged">(1,327</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231_z0veoQplC9f8" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Ending balance">157</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As discussed in Note 6 and further below, as a result of stockholder approval of the September 2024 Transactions at the Annual Meeting on October 29, 2024, the Exchanged Warrants were exchanged for approximately <span id="xdx_907_eus-gaap--ConversionOfStockSharesIssued1_pid_c20241029__20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQeu0rixqFTf" title="Common stock issued upon warrants exchange">663,000 shares of common stock, and <span id="xdx_90D_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pid_c20241029__20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_z02n16ORfz4f" title="Warrants issued for conversion of bridge notes">125,000 prefunded warrants were issued in connection with the conversion of the Bridge Notes and the closing of the Common Stock Private Placement. The prefunded warrants have an exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zTJB8S81SsJ7" title="Exercise price of warrants">0.075 per share, are exercisable at any time and will not expire until exercised in full. The Q1-22 Warrants are classified as a liability, have an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zgMnV9vs1vgh" title="Warrants outstanding, weighted average exercise price">573 per share and expire on September 9, 2027. The remaining December 2022 Warrants qualify for equity classification, have an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zsKLkvu4NWnd" title="Warrants outstanding, weighted average exercise price">21.45 per warrant share and expire on <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zkjNAInj5rz4" title="Warrants expiration date">June 2, 2028. As of December 31, 2024, the weighted average remaining contractual life of the warrants outstanding was <span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zyq0uWcrYPRg" title="Warrants outstanding, weighted average remaining contractual life">2.90 years and the weighted average exercise price was $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20241231__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_z8TB7A0IQLr9" title="Warrants outstanding, weighted average exercise price">411.76, which does not include the prefunded warrants. Cumulative Convertible Preferred Stock The Company has authorized <span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zyiVLVIaoUQk" title="Preferred stock, shares outstanding">156,000 shares of preferred stock, all of which is designated as Series A Cumulative Convertible Preferred Stock (the “Series A Preferred Stock”), and all of which were issued and outstanding as of December 31, 2024 and 2023. The Series A Preferred Stock provides for a cumulative annual dividend of $<span id="xdx_903_eus-gaap--DividendsPayableAmountPerShare_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zqrB8s7Kc802" title="Cumulative annual dividend payable per share">0.10 per share, payable in semi-annual installments in June and December. Dividends may be paid in cash or with shares of common stock. The Company paid approximately $8,000 in cash and issued approximately 700 shares of common stock for payment of dividends during the year ended December 31, 2024. The Company paid approximately $16,000 in cash for payment of dividends during the year ended December 31, 2023. The Series A Preferred Stock has no voting rights and has a $<span id="xdx_90B_eus-gaap--PreferredStockLiquidationPreference_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zgnXTBawH5W4" title="Preferred stock, liquidation preference per share">1.00 per share liquidation preference over the Company’s common stock. The holder of shares of Series A Preferred Stock has the right at any time to convert such shares into that number of shares of common stock that equals the number of shares of Series A Preferred Stock divided by the conversion rate. At December 31, 2024, the conversion rate was <span id="xdx_900_eus-gaap--PreferredStockConvertibleConversionRatio_iI_pp4d_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_za5fCDQNgRc3" title="Preferred stock, conversion rate">76.005 and, based on that conversion rate, one share of Series A Preferred Stock would have converted into approximately <span id="xdx_90A_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zehHcZIa3No2" title="Each preferred stock converted into common stock">0.01 shares of common stock, and all the outstanding shares of the Series A Preferred Stock would have converted into approximately <span id="xdx_908_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zMnZVffljOZf" title="Aggregate preferred stock to be convert into common stock">2,000 shares of common stock in the aggregate. There were <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_do_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z6J6DOq2QOje" title="Number of shares converted"><span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_do_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zrBNH1HEVox" title="Number of shares converted">no conversions during the years ended December 31, 2024 and 2023. There is no mandatory conversion term, date or any redemption features associated with the Series A Preferred Stock. The conversion rate will adjust under the following circumstances: 1. If the Company (a) pays a dividend or makes a distribution in shares of its common stock, (b) subdivides its outstanding shares of common stock into a greater number of shares, (c) combines its outstanding shares of common stock into a smaller number of shares, or (d) issues by reclassification of its shares of common stock any shares of its common stock (other than a change in par value, or from par value to no par value, or from no par value to par value), then the conversion rate in effect immediately prior to the applicable event will be adjusted so that the holders of the Series A Preferred Stock will be entitled to receive the number of shares of common stock which they would have owned or have been entitled to receive immediately following the happening of the event, had the Series A Preferred Stock been converted immediately prior to the record or effective date of the applicable event. 2. If the outstanding shares of the Company’s common stock are reclassified (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision, combination or stock dividend), or if the Company consolidates with or merge into another corporation and the Company is not the surviving entity, or if the Company sells all or substantially all of its property, assets, business and goodwill, then the holders of the Series A Preferred Stock will thereafter be entitled upon conversion to the kind and amount of shares of stock or other equity securities, or other property or assets which would have been receivable by such holders upon such reclassification, consolidation, merger or sale, if the Series A Preferred Stock had been converted immediately prior thereto. 3. If the Company issues common stock without consideration or for a consideration per share less than the then applicable Equivalent Preference Amount (as defined below), then the Equivalent Preference Amount will immediately be reduced to the amount determined by dividing (A) an amount equal to the sum of (1) the number of shares of common stock outstanding immediately prior to such issuance multiplied by the Equivalent Preference Amount in effect immediately prior to such issuance and (2) the consideration, if any, received by the Company upon such issuance, by (B) the total number of shares of common stock outstanding immediately after such issuance. The “Equivalent Preference Amount” is the value that results when the liquidation preference of one share of Series A Preferred Stock (which is $<span id="xdx_90B_eus-gaap--PreferredStockLiquidationPreference_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zJYqAHkVT0lg" title="Preferred stock, liquidation preference per share">1.00) is multiplied by the conversion rate in effect at that time; thus the conversion rate applicable after the adjustment in the Equivalent Preference Amount as described herein will be the figure that results when the adjusted Equivalent Preference Amount is divided by the liquidation preference of one share of Series A Preferred Stock. SEPA On April 5, 2023, the Company entered into the SEPA with Lincoln Park, pursuant to which Lincoln Park committed to purchase up to $<span id="xdx_901_esrt--StockRepurchaseProgramAuthorizedAmount1_iI_pn5n6_c20230405__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember__srt--RangeAxis__srt--MaximumMember_zcnLugcAsbYb" title="Aggregate gross purchase price of shares">10.0 million of the Company’s common stock. Such sales of common stock by the Company, if any, are subject to certain conditions and limitations set forth in the SEPA, including a condition that the Company may not direct Lincoln Park to purchase any shares of common stock under the SEPA if such purchase would result in Lincoln Park beneficially owning more than <span id="xdx_90B_ecustom--BeneficialOwnershipPercentageOfIssuedAndOutstandingShares_iI_pid_dp_c20230405__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember__srt--RangeAxis__srt--MaximumMember_zlatIky9k6Fk" title="Beneficial owning percentage on issued and outstanding shares">4.99% of the Company’s issued and outstanding shares of common stock. Sales under the SEPA may occur from time to time, at the Company’s sole discretion, through April 2025. In consideration of Lincoln Park’s entry into the SEPA, the Company issued to Lincoln Park approximately <span id="xdx_908_ecustom--EquityLineOfCreditConsiderationSharesOfCommonStock_pid_c20230405__20230405__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember_zThnQx0GZpV4" title="Consideration shares of common stock">5,000 shares of common stock (the “Commitment Shares”). The value of the Commitment Shares was recorded as a period expense and included in other expense, net, in the accompanying consolidated statements of operations for year ended December 31, 2023. The Company evaluated the contract that includes the right to require Lincoln Park to purchase shares of common stock in the future (“put right”) considering the guidance in ASC 815-40, Derivatives and Hedging - Contracts on an Entity’s Own Equity and concluded that it is an equity-linked contract that does not qualify for equity classification, and therefore requires fair value accounting. The Company analyzed the terms of the freestanding put right and concluded that it has an immaterial value as of December 31, 2024 and 2023. During the year ended December 31, 2023, the Company issued and sold approximately <span id="xdx_90C_ecustom--EquityLineOfCreditConsiderationSharesOfCommonStock_pid_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember_zMIKcu9RySjl" title="Consideration shares of common stock">14,000 shares of common stock under the SEPA, including the <span id="xdx_909_ecustom--EquityLineOfCreditConsiderationSharesOfCommonStock_pid_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__dei--LegalEntityAxis__custom--LincolnParkCapitalFundLLCMember_z6xk4jddqrH" title="Consideration shares of common stock">5,000 Commitment Shares, for gross proceeds of approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember_zgLfmTrO5Cd6" title="Gross proceeds from sale of equity">0.3 million. The Company did not sell any shares of common stock under the SEPA during the year ended December 31, 2024. As of December 31, 2024, there were approximately <span id="xdx_906_ecustom--SaleOfStockNumberOfSharesToIssuedInTransaction_iI_pid_c20241231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember_zVKcuWGp2okb" title="Number of remaining shares to be sold">176,000 shares remaining to be sold under the SEPA. September 2024 Transactions As discussed in Note 6, on September 24, 2024, the Company entered into the September 2024 Transactions. On October 29, 2024, the Company held its Annual Meeting, whereby the Company’s stockholders approved the September 2024 Transactions, and as a result, the Company issued approximately <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241029__20241029__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztsX6M2qY5e" title="Shares issued">3,063,000 shares of common stock and <span id="xdx_907_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pid_c20241029__20241029__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zZfaPLkXW2x" title="Warrants issued">125,000 prefunded warrants and had approximately 3,425,000 shares of common stock issued and outstanding following such transactions. See Note 6 for details on the September 2024 Transactions. Stock Repurchase Program In November 2024, the Company’s Board authorized a stock repurchase program (the “Repurchase Program”) of up to $1.0 million of the Company’s outstanding common stock. Under the Repurchase Program, the repurchases may be made by the Company from time to time through open market purchases, privately negotiated transactions or other means in accordance with applicable securities laws. The timing and amount of repurchases will be determined by the Company, taking into consideration market conditions, stock price, and other factors. The Repurchase Program does not have a set expiration date and may be suspended, modified or discontinued at any time without prior notice. The Company did not repurchase any of its shares under the Repurchase Program during the year ended December 31, 2024. There was no such repurchase program during the year ended December 31, 2023.

During the year ended December 31, 2024, the Company had the following warrant activity (in thousands): SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding January 1, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Granted</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exchanged Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Outstanding December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zWjv6l29Xym7" style="width: 12%; text-align: right" title="Warrants outstanding, beginning balance">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zmL9488qGebi" style="width: 12%; text-align: right" title="Warrants, granted">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zPWjHxieC7a8" style="width: 12%; text-align: right" title="Warrants, exchanged">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zqHyOA2mJxDl" style="width: 12%; text-align: right" title="Warrants outstanding, ending balance">23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zrh9X4rxS5k8" style="text-align: right" title="Warrants outstanding, beginning balance">291</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zQJ1jNN1TIkg" style="text-align: right" title="Warrants, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zUoo8odXApDc" style="text-align: right" title="Warrants, exchanged">(282</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zvrSopAF7gx2" style="text-align: right" title="Warrants outstanding, ending balance">9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>July 2023 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zCCwPANFVx2k" style="text-align: right" title="Warrants outstanding, beginning balance">406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zpqocXD89i7l" style="text-align: right" title="Warrants, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_z2eu3KcSBp4" style="text-align: right" title="Warrants, exchanged">(406</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--JulyTwoThousandTwentyThreeWarrantsMember_zdgvmICIkjz7" style="text-align: right" title="Warrants outstanding, ending balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2023 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zGiSKlB2dpDa" style="text-align: right" title="Warrants outstanding, beginning balance">541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_ziaaGMDgVtig" style="text-align: right" title="Warrants, granted">98</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zPMQbePASThc" style="text-align: right" title="Warrants, exchanged">(639</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyThreeWarrantsMember_zgeCZCk8tVee" style="text-align: right" title="Warrants outstanding, ending balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zxLtJuXmUzR1" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, beginning balance">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zwAcN3BpQO7f" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, granted">125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zBuLlbVOLnfc" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, exchanged">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_ziDdYvwTD6ga" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">125</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_pn3n3_c20240101__20241231_zm9yeQjSqhs2" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Beginning balance">1,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_ecustom--ClassOfWarrantOrRightGrantsInPeriod_pn3n3_c20240101__20241231_zdIxiqEC5D38" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, granted">223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExchangedInPeriod_iN_pn3n3_di_c20240101__20241231_zKG7pC3Le63a" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, exchanged">(1,327</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_pn3n3_c20240101__20241231_z0veoQplC9f8" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Ending balance">157</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

23000

291000

282000

9000

406000

541000

98000 639000 125000

125000

1261000

223000 1327000

157000

663000

125000

0.075

573

2027-09-09

21.45

2028-06-02

P2Y10M24D

411.76

156000

0.10

8000

700

16000

1.00

76.005

0.01

2000

1.00

10000000.0 0.0499 5000 14000 5000

300000

176000

3063000

125000

3425000

1000000.0

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in">17)</td> <td style="text-align: justify">Income Taxes</td></tr> </table> INCOME TAXES Loss before income taxes consist of the following (in thousands): SCHEDULE OF LOSS BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_z6q2uBoGtwc7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zewgG5wzjyTk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; font-style: italic">(in thousands)</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzDCs_zp2NnhegnYb2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(44,529</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(21,654</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzDCs_zsfqcuvzNPTd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzDCs_z0kDZIqrexd3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(44,509</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,671</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> For each of the years ended December 31, 2024 and 2023, current tax provisions and current deferred tax provisions were recorded as follows (in thousands): SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zgPnehS8EzP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zQofwExldoDl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zzZccP7NMLgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current Tax Provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_z89kzjcL0Gzk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_zH7dVv8qFbK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">State</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentForeignTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_z2XRbzOTXOT6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_pn3n3_mtCITEBzoDi_maITEBzjLJ_zuFPGF9E3eH2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current tax provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_zGgY4LpMCaoc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred Tax Provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_zZpdwk2j7zS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_ztcGHgaUXYhg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_zPnOEgM22VDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzmNg_maITEBzjLJ_zV3E6rUXHsZh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Deferred tax provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxExpenseBenefit_i01T_pn3n3_mtITEBzjLJ_z5ObIeH4nrYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total tax provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Deferred income taxes reflect the net tax effects of temporary differences between carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of net deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. The table below consists of the Company’s net deferred tax assets and liabilities as of December 31, 2024 and December 31, 2023 (in thousands). Deferred tax assets have been substantially reserved for by a valuation allowance since it is more likely than not that such tax benefits will not be realized. SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241231_ztOv6mUKuDEk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20231231_zOQcyopx5Isa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zyaMjTESGyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsOperatingLossCarryforwardsExcludingForeign_i01I_pn3n3_maDTAGzcuI_zsBnHy6StmD" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">16,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_i01I_pn3n3_maDTAGzcuI_zM8LJ8kCjijc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">782</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">784</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_i01I_pn3n3_maDTAGzcuI_z03XYUgNUbdl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,141</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_i01I_pn3n3_maDTAGzcuI_zRjMLME1OVIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">In-process research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,009</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts_i01I_pn3n3_maDTAGzcuI_zlJDOF044eYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Capitalized research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_i01I_pn3n3_maDTAGzcuI_zU5GWc9GkGsd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_i01I_pn3n3_maDTAGzcuI_zwUvRu9lsoCb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">R&D credit carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">437</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">437</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsRightOfUseLiabilities_i01I_pn3n3_maDTAGzcuI_zYMIipo55g2f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">ROU Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,932</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_i01I_pn3n3_maDTAGzcuI_zD7nZ9NJtd2j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_i01TI_pn3n3_mtDTAGzcuI_maDTANzDXr_zBgugOagAi0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,347</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,283</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsValuationAllowance_i01NI_pn3n3_di_msDTANzDXr_zfG1jghcWawj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,023</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18,302</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsNet_i01TI_pn3n3_mtDTANzDXr_msDTLzvrm_zhvy2QR2Pffh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,981</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zkvpTXedlBLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_i01NI_pn3n3_di_maDITLzSNr_z8Wz3L2ZzAc5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--DeferredTaxAssetsRightOfUseAssets_i01NI_pn3n3_di_maDITLzSNr_zIKg6rc1vO4l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">ROU Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(183</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,349</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesConvertibleDebt_i01NI_pn3n3_di_maDITLzSNr_zKlhLRV8Rxma" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,507</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_i01NI_pn3n3_di_maDITLzSNr_zk5dngeNjaX4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Intangibles - goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(229</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(179</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_i01NTI_pn3n3_di_mtDITLzSNr_maDTLzvrm_zxcpSFNntVEl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(412</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,041</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxLiabilities_i01NTI_pn3n3_di_mtDTLzvrm_zm5NDtpIU12a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(88</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(60</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The reconciliation between the Company’s effective tax rate on income from continuing operations and the federal statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20240101__20241231_zjAsI6jMXpPk" title="Federal statutory tax rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20230101__20231231_zOTvu6OivFP" title="Federal statutory tax rate">21% for the years ended December 31, 2024 and 2023 is as follows: SCHEDULE OF RECONCILIATION OF COMPUTED EXPECTED INCOME TAXES TO EFFECTIVE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zblrv03dAoGg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zV6qeP0dftNd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maPFIN_zVlsIKYKbYh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Tax at federal income tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maPFIN_zV9swLhMLuo4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.95</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.92</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_maPFIN_zX32n3ljPXK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">%)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_pid_dp_maPFIN_zHbqUCDNCZOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible expenses/excludable items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.05</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.74</td><td style="text-align: left">%)</td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationConvertibleDebtPercent_pid_dp_maPFIN_z5gqsJeIDe3g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.16</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11.92</td><td style="text-align: left">%)</td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCredits_iN_pid_dpi_msPFIN_ztbDM3j4WfYc" style="vertical-align: bottom; background-color: White"> <td>Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.18</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_pid_dp_maPFIN_z1dopGirofL" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.72</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.34</td><td style="text-align: left">%)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maPFIN_zGQHGUqrLrb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17.35</td><td style="padding-bottom: 1pt; text-align: left">%)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9.90</td><td style="padding-bottom: 1pt; text-align: left">%)</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_mtPFIN_zEWiAwuOF3g5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">(Provision) benefit for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.07</td><td style="padding-bottom: 2.5pt; text-align: left">%)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.01</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> The net increase in the total valuation allowance for the year ended December 31, 2024 was an increase of approximately $7.7 million. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. Management considered the scheduled reversal of deferred tax liabilities, projected future taxable income and planning strategies in making this assessment. Based on the level of historical operating results and projections for the taxable income for the future, management has determined that it is more likely than not that the deferred taxes assets will not be utilized. Accordingly, the Company has recorded a full valuation allowance. The net deferred tax liability represents an indefinite life intangible liability related to tax deductible goodwill, partially offset by an indefinite life deferred tax asset. At December 31, 2024 and 2023, the Company has available net operating loss (“NOL”) carryforwards of approximately $62.1 million and $48.4 million for federal income tax purposes, respectively, of which approximately $61.4 million can be carried forward indefinitely. The Company has available $52.6 million and $39.6 million state NOLs for the years ended December 31, 2024 and 2023, respectively, which begin to expire in 2041. The Company also has foreign NOL carryforwards of approximately $6.3 million for each of the years ended December 31, 2024 and 2023, which carry forward indefinitely. Section 382 of the Internal Revenue Code (“IRC”) imposes limits on the ability to use NOL carryforwards that existed prior to a change in control to offset future taxable income. Such limitations would reduce, potentially significantly, the gross deferred tax assets disclosed in the table above related to the NOL carryforwards. The Company continues to disclose the NOL carryforwards at their original amount in the table above as no potential limitation has been quantified. The Company has also established a full valuation allowance for all deferred tax assets, including the NOL carryforwards, since the Company could not conclude that it was more likely than not able to generate future taxable income to realize these assets. The Company has federal and state income tax credit carryforwards of approximately $0.4 million at both December 31, 2024 and 2023.. The credits begin to expire in 2041. In accordance with authoritative guidance, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. The following table summarizes amounts the Company recorded for uncertain tax positions as of December 31, 2024 and 2023 (in thousands): SCHEDULE OF UNCERTAIN TAX POSITIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zu0GgeFWZxEf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_z8h75q0JdtYk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--UnrecognizedTaxBenefits_iS_zaJZJdLS5mNi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance of uncertain tax positions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">393</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">121</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_zjivy6xQFcga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions based on current year’s tax positions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_zFxD4QLPgI6e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net changes based on prior year’s tax positions</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--UnrecognizedTaxBenefits_iE_zvmWCWs8qCUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Ending balance of uncertain tax positions</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> It is reasonably possible that unrecognized tax benefits may increase or decrease within the next twelve months due to tax examination changes, expiration of statute of limitations, or changes in tax law. The Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. The Company recognizes interest and penalties related to unrecognized tax positions within the income tax expense line in the accompanying consolidated statements of operations. There were no accrued interest and penalties associated with uncertain tax positions as of December 31, 2024 or December 31, 2023. The Company is subject to U.S. federal, state, and foreign income tax. The Company’s income tax returns are subject to examination by the relevant taxing authorities. As of December 31, 2024, the 2021 - 2024 tax years remain subject to examination in the U.S. federal tax, various state, and foreign tax jurisdictions. The Company is not currently under examination by federal state, or foreign jurisdictions. On August 16, 2022, the Inflation Reduction Act of 2022 (the “IRA”) was enacted into law. Among other changes to the tax code, the IRA imposes a 1% excise tax on certain repurchases of corporate stock by certain publicly traded corporations. The 1% stock buyback tax applies to redemptions by domestic corporations occurring in taxable years beginning after December 31, 2022. A number of exceptions to the stock buyback tax are available including exceptions to certain reorganizations. However, while these exceptions may be helpful in limiting the application of the stock buyback tax in situations in which it was not intended to apply, more guidance will be necessary for taxpayers to analyze the potential application of these exceptions and whether they will be able to rely upon them.

Loss before income taxes consist of the following (in thousands): SCHEDULE OF LOSS BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_z6q2uBoGtwc7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zewgG5wzjyTk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; font-style: italic">(in thousands)</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzDCs_zp2NnhegnYb2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(44,529</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(21,654</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzDCs_zsfqcuvzNPTd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzDCs_z0kDZIqrexd3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(44,509</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,671</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-44529000

-21654000

20000

-17000

-44509000

-21671000

For each of the years ended December 31, 2024 and 2023, current tax provisions and current deferred tax provisions were recorded as follows (in thousands): SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zgPnehS8EzP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zQofwExldoDl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zzZccP7NMLgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current Tax Provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_z89kzjcL0Gzk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_zH7dVv8qFbK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">State</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentForeignTaxExpenseBenefit_i01_pn3n3_maCITEBzoDi_z2XRbzOTXOT6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_pn3n3_mtCITEBzoDi_maITEBzjLJ_zuFPGF9E3eH2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current tax provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_zGgY4LpMCaoc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred Tax Provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_zZpdwk2j7zS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_ztcGHgaUXYhg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzmNg_zPnOEgM22VDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzmNg_maITEBzjLJ_zV3E6rUXHsZh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Deferred tax provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxExpenseBenefit_i01T_pn3n3_mtITEBzjLJ_z5ObIeH4nrYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total tax provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

3000

1000

3000

1000

27000

-4000

27000

-4000

30000

-3000

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241231_ztOv6mUKuDEk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20231231_zOQcyopx5Isa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zyaMjTESGyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsOperatingLossCarryforwardsExcludingForeign_i01I_pn3n3_maDTAGzcuI_zsBnHy6StmD" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">16,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_i01I_pn3n3_maDTAGzcuI_zM8LJ8kCjijc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">782</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">784</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_i01I_pn3n3_maDTAGzcuI_z03XYUgNUbdl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,141</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_i01I_pn3n3_maDTAGzcuI_zRjMLME1OVIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">In-process research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,009</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts_i01I_pn3n3_maDTAGzcuI_zlJDOF044eYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Capitalized research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_i01I_pn3n3_maDTAGzcuI_zU5GWc9GkGsd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_i01I_pn3n3_maDTAGzcuI_zwUvRu9lsoCb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">R&D credit carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">437</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">437</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsRightOfUseLiabilities_i01I_pn3n3_maDTAGzcuI_zYMIipo55g2f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">ROU Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,932</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_i01I_pn3n3_maDTAGzcuI_zD7nZ9NJtd2j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_i01TI_pn3n3_mtDTAGzcuI_maDTANzDXr_zBgugOagAi0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,347</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,283</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsValuationAllowance_i01NI_pn3n3_di_msDTANzDXr_zfG1jghcWawj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,023</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18,302</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsNet_i01TI_pn3n3_mtDTANzDXr_msDTLzvrm_zhvy2QR2Pffh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,981</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zkvpTXedlBLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_i01NI_pn3n3_di_maDITLzSNr_z8Wz3L2ZzAc5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--DeferredTaxAssetsRightOfUseAssets_i01NI_pn3n3_di_maDITLzSNr_zIKg6rc1vO4l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">ROU Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(183</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,349</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesConvertibleDebt_i01NI_pn3n3_di_maDITLzSNr_zKlhLRV8Rxma" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,507</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_i01NI_pn3n3_di_maDITLzSNr_zk5dngeNjaX4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Intangibles - goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(229</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(179</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_i01NTI_pn3n3_di_mtDITLzSNr_maDTLzvrm_zxcpSFNntVEl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(412</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,041</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxLiabilities_i01NTI_pn3n3_di_mtDTLzvrm_zm5NDtpIU12a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(88</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(60</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

16496000 12740000

782000

784000

2646000

2141000

1030000

1009000

4548000 3105000

192000

437000

187000 8932000

29000

135000

26347000

29283000

26023000

18302000

324000

10981000

6000

183000 8349000 2507000

229000

179000

412000

11041000

88000

60000

The reconciliation between the Company’s effective tax rate on income from continuing operations and the federal statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20240101__20241231_zjAsI6jMXpPk" title="Federal statutory tax rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_c20230101__20231231_zOTvu6OivFP" title="Federal statutory tax rate">21% for the years ended December 31, 2024 and 2023 is as follows: SCHEDULE OF RECONCILIATION OF COMPUTED EXPECTED INCOME TAXES TO EFFECTIVE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zblrv03dAoGg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zV6qeP0dftNd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maPFIN_zVlsIKYKbYh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Tax at federal income tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maPFIN_zV9swLhMLuo4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.95</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.92</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_maPFIN_zX32n3ljPXK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">%)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_pid_dp_maPFIN_zHbqUCDNCZOf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible expenses/excludable items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.05</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.74</td><td style="text-align: left">%)</td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationConvertibleDebtPercent_pid_dp_maPFIN_z5gqsJeIDe3g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.16</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11.92</td><td style="text-align: left">%)</td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCredits_iN_pid_dpi_msPFIN_ztbDM3j4WfYc" style="vertical-align: bottom; background-color: White"> <td>Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.18</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_pid_dp_maPFIN_z1dopGirofL" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.72</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.34</td><td style="text-align: left">%)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maPFIN_zGQHGUqrLrb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17.35</td><td style="padding-bottom: 1pt; text-align: left">%)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9.90</td><td style="padding-bottom: 1pt; text-align: left">%)</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_mtPFIN_zEWiAwuOF3g5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">(Provision) benefit for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.07</td><td style="padding-bottom: 2.5pt; text-align: left">%)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.01</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table>

0.21

0.2100

0.0295

0.0492

0.0000

-0.0001

-0.0005

-0.0074

-0.0916 -0.1192

0.0018

-0.0000

0.0272

-0.0334

-0.1735

-0.0990

-0.0007

0.0001

7700000

62100000

48400000

61400000

52600000

39600000

begin to expire in 2041

6300000

carry forward indefinitely

400000

2041

SCHEDULE OF UNCERTAIN TAX POSITIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zu0GgeFWZxEf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_z8h75q0JdtYk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--UnrecognizedTaxBenefits_iS_zaJZJdLS5mNi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance of uncertain tax positions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">393</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">121</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions_zjivy6xQFcga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions based on current year’s tax positions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_zFxD4QLPgI6e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net changes based on prior year’s tax positions</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--UnrecognizedTaxBenefits_iE_zvmWCWs8qCUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Ending balance of uncertain tax positions</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">393</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

393000

121000

272000

393000

2021 - 2024

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in">18)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Segment Reporting</td></tr> </table> SEGMENT REPORTING The CODM uses consolidated net loss as a measure of profit and loss and assesses Company performance through the achievement of its business strategy goals. The CODM is regularly provided with forecasted expense information that is used to determine the Company’s liquidity needs and cash allocation to execute its business strategy, and he uses cash as a measure of segment assets in managing the Company. The Company operates in the United States, and all of its assets are located in the United States. The table below provides a breakdown of the Company’s significant operating expenses for the years ended December 31, 2024 and 2023 with a reconciliation to net loss for each of those years. The Company’s revenue and its cost of revenues for the years ended Decembe4 2024 and 2023 relate to the Lineage Agreement. Depreciation and amortization expense was $0.1 million for each of the years ended December 31, 2024 and 2023. During the year ended December 31, 2024, the Company recognized $22.6 million in other expense, net, related to the September Transactions. There were no such transactions for the year ended December 31, 2023. The Company recognized $6.5 million in interest expense, net, during the year ended December 31, 2024 compared to $0.5 million during the year ended December 31, 2023. SCHEDULE OF BREAKDOWN OF SIGNIFICANT OPERATING EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_zICUDzy31R7c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zEWevtETBDyi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_pn3n3_maGPzgFY_zc8vdlAD26Mb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">582</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">68</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostOfRevenue_pn3n3_msGPzgFY_z25mjZHy3KLa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">96</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">236</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GrossProfit_iT_pn3n3_mtGPzgFY_maOILzcdR_zrHAn8y2E2o1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(168</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpensesAbstract_iB_zWG6oU0B1Wa3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i01B_zB31vKHq1c12" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--MSALicenseFeesMember_z5KE2Gip1phl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">MSA/license fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,250</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zjUFw0iM1qR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zm1Hyx3rAsU4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">701</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zNh4iH2eymEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other1</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">326</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">788</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_maOEzGOO_zM8KSL5gHQDd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpenseAbstract_i01B_z7QcQU13TFi9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OccupancyExpenseMember_zjfudadeeD9a" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Occupancy expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,306</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zcfIsvI4oYH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,464</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zEzdAf7orqVb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,607</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StockBasedCompensationMember_zlSfulmFh3O5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,431</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,008</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zfC3nxiVELm2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other2</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">852</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_maOEzGOO_zpcZQKnD7zm9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,587</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GainLossOnTerminationOfLease_i01N_pn3n3_di_msOEzGOO_ztLNgkCMPv94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on lease termination</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff_i01_pn3n3_maOEzGOO_zmfjyljXoFuc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Acquisition of Exacis in-process research and development</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">460</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOO_msOILzcdR_z6vK3jko5Yhf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,160</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,967</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingIncomeLoss_i01T_pn3n3_mtOILzcdR_maILFCOzXhG_zmraKJUfG6Ki" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,674</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,135</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NonoperatingIncomeExpense_i01T_pn3n3_maILFCOzXhG_zmezkHJycMD" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Other expense, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,835</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_mtILFCOzXhG_maNILzLOg_zS5B3elgXgSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,509</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,671</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_i01N_pn3n3_di_msNILzLOg_zWXcpQePmix9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">(Provision) benefit for income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILzLOg_z98aV5Xhrvrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(44,539</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,668</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cash</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--Cash_iI_pn3n3_c20241231_zbAWh8r9W3bg" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash">1,729</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Cash_iI_pn3n3_c20231231_zhDSJQB5NJF9" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash">7,575</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0E_z0Em9Mypd6I2" style="width: 15pt; text-align: right">1</td><td style="text-align: justify">Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0E_zIkVjfzQhJT1" style="width: 15pt; text-align: right">2</td><td style="text-align: justify">Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses.</td> </tr></table>

100000

22600000

6500000

500000

SCHEDULE OF BREAKDOWN OF SIGNIFICANT OPERATING EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_zICUDzy31R7c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zEWevtETBDyi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_pn3n3_maGPzgFY_zc8vdlAD26Mb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">582</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">68</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostOfRevenue_pn3n3_msGPzgFY_z25mjZHy3KLa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">96</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">236</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GrossProfit_iT_pn3n3_mtGPzgFY_maOILzcdR_zrHAn8y2E2o1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(168</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpensesAbstract_iB_zWG6oU0B1Wa3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i01B_zB31vKHq1c12" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--MSALicenseFeesMember_z5KE2Gip1phl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">MSA/license fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,250</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zjUFw0iM1qR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zm1Hyx3rAsU4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">701</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zNh4iH2eymEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other1</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">326</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">788</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_maOEzGOO_zM8KSL5gHQDd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpenseAbstract_i01B_z7QcQU13TFi9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OccupancyExpenseMember_zjfudadeeD9a" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Occupancy expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,306</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zcfIsvI4oYH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,464</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zEzdAf7orqVb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,607</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StockBasedCompensationMember_zlSfulmFh3O5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,431</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,008</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zfC3nxiVELm2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other2</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">852</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_maOEzGOO_zpcZQKnD7zm9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,587</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GainLossOnTerminationOfLease_i01N_pn3n3_di_msOEzGOO_ztLNgkCMPv94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on lease termination</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff_i01_pn3n3_maOEzGOO_zmfjyljXoFuc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Acquisition of Exacis in-process research and development</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">460</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOO_msOILzcdR_z6vK3jko5Yhf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,160</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,967</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingIncomeLoss_i01T_pn3n3_mtOILzcdR_maILFCOzXhG_zmraKJUfG6Ki" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,674</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,135</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NonoperatingIncomeExpense_i01T_pn3n3_maILFCOzXhG_zmezkHJycMD" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Other expense, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,835</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_mtILFCOzXhG_maNILzLOg_zS5B3elgXgSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,509</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,671</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_i01N_pn3n3_di_msNILzLOg_zWXcpQePmix9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">(Provision) benefit for income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILzLOg_z98aV5Xhrvrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(44,539</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,668</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cash</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--Cash_iI_pn3n3_c20241231_zbAWh8r9W3bg" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash">1,729</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Cash_iI_pn3n3_c20231231_zhDSJQB5NJF9" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash">7,575</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0E_z0Em9Mypd6I2" style="width: 15pt; text-align: right">1</td><td style="text-align: justify">Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; 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20967000

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">19)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Subsequent Event</td></tr> </table> SUBSEQUENT EVENT On March 11, 2025, the Company received $<span id="xdx_90A_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6sRlQwVn1Ab" title="Convertible notes, net">1.5 million in exchange for the issuance of a promissory note with an aggregate principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z2k7Ra9bfG4g" title="Aggregate principal amount">1.5 million to an investor. The promissory note matures on the earlier of (i) <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20250311__20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBB4fWaRJY1e" title="Debt maturity date">June 15, 2025 or (ii) upon the Company receiving $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pn6n6_c20250311__20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCXGgFfj5bz1" title="Proceeds from raise capital">5 million in gross proceeds from a subsequent capital raise. Interest accrues at a rate of <span id="xdx_90F_ecustom--DebtInstrumentAccruedInterestRate_iI_pid_dp_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTVzNm04aXbj" title="Accrued interest rate">5.0% per annum, payable at maturity.

1500000

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5000000

0.050 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">20)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Subsequent Events in Connection with Reissuance (“unaudited”)</td></tr> </table> SUBSEQUENT EVENTS IN CONNECTION WITH REISSUANCE As described in Note 3B, the Company is reissuing its 2024 financial statements in order to apply the effects of a reverse stock split that occurred subsequent to the issuance of the 2024 financial statements. In connection with the reissuance of these financial statements, the Company has considered whether there are other subsequent events that have occurred since March 12, 2025 and through February 2, 2026 that require recognition or disclosure in the 2024 financial statements and believes that there are no such events.

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<p id="xdx_805_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zHmyij0hWvEh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">1) DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business Ernexa Therapeutics Inc. (the “Company”) is a preclinical-stage synthetic allogeneic iMSC therapy company. iMSCs are induced pluripotent stem cell (“iPSC”)-derived mesenchymal stem cells. The Company envisions a future where cell therapies powered by synthetic iMSCs can offer new options for patients with limited treatment paths and its mission is to transform the treatment of cancer and autoimmune disease by developing scalable, affordable, off-the-shelf cell therapies that restore hope. As used herein, the “Company” or “Ernexa” refers collectively to Ernexa and its consolidated subsidiaries (Ernexa TX2, Inc., Novellus, Inc. and Novellus Therapeutics Limited) unless otherwise stated or the context otherwise requires. In April 2025, the Company formed Ernexa TX2 Inc., a wholly owned Texas subsidiary, and the Company dissolved Eterna Therapeutics LLC, which was a single member limited liability company and had no operations. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited financial statements include all the normal recurring adjustments that are necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. These condensed consolidated financial statements should be read together with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on March 12, 2025. The accompanying condensed consolidated balance sheet as of December 31, 2024 has been derived from the audited financial statements contained in the 2024 10-K but does not include all of the information and footnotes required by GAAP for complete financial statements. The results of operations for the three and nine months ended September 30, 2025 are not necessarily indicative of the results to be anticipated for the entire year ending December 31, 2025, or any other period. Reverse Stock Split As approved by the Company’s stockholders at the Company’s Annual Meeting of Stockholders held on June 2, 2025 (the “2025 Annual Meeting”), the Company effected a reverse stock split of its common stock at a ratio of 1-for-15, as determined by the Company’s Board of Directors within the parameters approved by the Company’s stockholders (the “Reverse Stock Split”). The Reverse Stock Split became effective under Delaware law at 12:01 a.m. Eastern time on June 12, 2025. Upon the effectiveness of the Reverse Stock Split, every fifteen shares of the issued and outstanding common stock were automatically combined and reclassified into one issued and outstanding share of common stock. The Reverse Stock Split did not alter the par value of the common stock, and the number of authorized shares of common stock remains unchanged, after giving effect to the increase in the authorized shares of the Company’s common stock from 100,000,000 to 150,000,000 shares, which occurred on June 2, 2025 following stockholder approval at the 2025 Annual Meeting. No fractional shares were issued in connection with the Reverse Stock Split, and no cash or other consideration was paid in connection with any fractional shares. Stockholders who otherwise would have held a fractional share after giving effect to the Reverse Stock Split instead owned one whole share of the post-reverse stock split common stock. The Company issued an aggregate of 153 shares for rounding up fractional shares to whole shares. All share and per share data in this Quarterly Report on Form 10-Q have been adjusted for all periods presented to reflect the Reverse Stock Split.

1-for-15

100000000

150000000

153

2) LIQUIDITY AND CAPITAL RESOURCES The Company has incurred significant operating losses and has an accumulated deficit as a result of its efforts to develop product candidates and provide general and administrative support for operations. As of September 30, 2025, the Company had a cash balance of approximately $3.0 million and an accumulated deficit of approximately $244.1 million. For the three and nine months ended September 30, 2025, the Company incurred a net loss of $1.2 million and $12.6 million, respectively. The nine months ended September 30, 2025 includes a non-cash charge of $5.8 million related to a forward sales contract the Company entered into on March 31, 2025. During the nine months ended September 30, 2025, the Company used cash of $5.9 million in operating activities. In September 2024, the Company entered into certain financing agreements for the September 2024 Transactions (as defined and discussed more fully in Note 12), which included (in) the private placement of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240901__20240930__us-gaap--TypeOfArrangementAxis__custom--FinancingAgreementMember_zqUtFfv56hw4" title="Proceeds from issuance of private placement">3.9 million of convertible Bridge Notes (as defined in Note 8), (ii) the Common Stock Private Placement of $1.1 million in shares of the Company’s common stock or pre-funded warrants, as well as (iii) the Exchange Transaction, which provided for the exchange of convertible notes and warrants into shares of the Company’s common stock. The September 2024 Transactions were subject to shareholder approval, and on October 29, 2024, the shareholders approved the issuance of common stock under the September 2024 Transactions. Following the conversions of the convertible notes, the Company had no convertible notes outstanding. On March 11, 2025 and March 20, 2025, the Company received $1.5 million and $0.8 million, respectively, in exchange for the issuance of two promissory notes with aggregate principal amounts of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNoteMember_zx6nrr0UOj4" title="Aggregate principal amount">2.3 million to an investor. During the nine months ended September 30, 2025, the Company repaid the notes in full for $<span id="xdx_90D_eus-gaap--RepaymentsOfNotesPayable_pn5n6_c20250101__20250930__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNoteMember_zxVCEc7SMhGl" title="Repayments of notes including accrued interest">2.3 million, including accrued interest. See Note 8 for more information on the promissory notes. During the nine months ended September 30, 2025, the Company raised $7.2 million in gross proceeds from the sale of shares of the Company’s common stock and prefunded warrants. See Note 12, Equity Transaction - 2025 Private Placement, for additional information regarding this financing. In connection with preparing the accompanying condensed consolidated financial statements as of and for the three and nine months ended September 30, 2025, the Company’s management concluded that there is substantial doubt regarding the Company’s ability to continue as a going concern because it does not expect to have sufficient cash or working capital resources to fund operations for the twelve-month period subsequent to the issuance date of these condensed consolidated financial statements. The Company will need to raise additional capital, which could be through public or private equity offerings, grants, debt financings, out-licensing the Company’s intellectual property, strategic partnerships or other means. The Company currently has no arrangements for capital, and no assurances can be given that it will be able to raise capital when needed, on acceptable terms, or at all. The accompanying condensed consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to the Company’s ability to continue as a going concern.

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2300000

7200000

3) CONTRACT WITH CUSTOMER The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers (“ASC 606”) when a customer obtains control of promised services or goods in an amount that reflects the consideration to which the Company expects to receive in exchange for those goods or services. The Company had one contract with a customer that was accounted for under ASC 606 related to an exclusive option and license agreement it entered into in February 2023, and amended in August 2023, with a customer, which provided the customer with the option (the “Option Right”) to obtain an exclusive sublicense of intellectual property from the Company and to request to have the Company develop a customized cell line. The customer paid the Company a $0.3 million non-refundable up-front payment (the “Option Fee”) for the Option Right and paid an initial payment of $0.4 million to commence the cell line customization activities. On September 24, 2024, the Company assigned this customer contract to Factor Bioscience (as defined in Note 11) whereby all the Company’s rights and obligations under the customer contract are now Factor Bioscience’s. Factor Bioscience will pay the Company thirty percent (30%) of all amounts it receives from the customer under the contract in the event that the customer exercises its Option Right, and Factor Bioscience will pay the Company twenty percent (<span id="xdx_90C_ecustom--PaymentsPercentage_iI_pid_dp_uPure_c20240924__us-gaap--TypeOfArrangementAxis__custom--LineageAssignmentAgreementMember__dei--LegalEntityAxis__custom--FactorBioscienceLimitedMember_z867v6rZG5V9" title="Payments, percentage">20%) of all amounts it receives from the customer for the customization activities set forth in the contract. Prior to assigning the contract to Factor Bioscience, the Company was recognizing the $<span id="xdx_907_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20250101__20250930__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zubqzayfBY3f" title="Revenue recognized">0.4 million received from the customer equally over the development period. However, as a result of assigning the customer contract to Factor Bioscience, and there being no further obligations the Company needed to fulfill for the customization activities, the Company accelerated the recognition of the remaining $0.2 million in deferred revenue during the three months ended September 30, 2024. Likewise, there being no further obligations regarding the non-refundable payment related to the Option Right, the Company also recognized the $0.3 million Option Right payment in full as revenue during the three ended September 30, 2024. During the nine months ended September 30, 2024, the Company recognized approximately $0.6 million in revenue related to this customer contract for the customization activities and Option Right, including the accelerations of revenue recognition discussed above. There was no such revenue recognized for the three and nine months ended September 30, 2025. The Company recognized direct labor and supplies used in the customization activities as incurred, which were recorded as a cost of revenue. The Company was also obligated to pay Factor Bioscience 20% of any amounts the Company received from a customer that was related to the licensed technology under a previous license agreement the Company had with Factor Bioscience, which has since been terminated. During the nine months ended September 30, 2024, the Company recognized approximately $0.1 million in fees to Factor Bioscience, which was recorded as a cost of revenue. There was no such license fee recognized during the three months ended September 30, 2024. There were no direct labor, supplies or license fee recognized during the three and nine months ended September 30, 2025.

300000 400000 0.30 0.20

400000

200000

300000

600000

0.20 100000 0 0

4) FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between willing market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 Inputs – Valued based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. ● Level 2 Inputs – Valued based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. ● Level 3 Inputs – Valued based on inputs for which there is little or no market value, which require the reporting entity to develop its own assumptions. The carrying amounts reported on the balance sheet for cash, other receivables, prepaid expenses and other current assets, accounts payable and accrued expenses, other current liabilities and other liabilities approximate fair value based due to their short maturities. The Company issued approximately <span id="xdx_902_esrt--StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_iI_c20220331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PIPEInvestorMember__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zNh3AOBNRVjf" title="Private placement shares">23,000 warrants in connection with a private placement during the first quarter of 2022 (the “Q1-22 warrants”), which were determined to be classified as a liability. The Company has also recorded a three-year contingent consideration liability related to an asset acquisition in April 2023, which is now recorded in current liabilities due to the Company’s obligation for this liability terminating in April 2026. The Company uses a Black-Scholes option pricing model to estimate the fair value of the Q1-22 warrant liabilities and a Monte Carlo simulation model to estimate the fair value of the contingent consideration liability, both of which are considered a Level 3 fair value measurement. The Company remeasures these liabilities at each reporting period and recognizes changes in their respective fair value in the accompanying condensed consolidated statement of operations. In connection with the 2025 SPA (as defined in Note 12) that the Company entered into on March 31, 2025, the Company recorded a forward sales contract liability at fair value and recognized $5.3 million of expense because the fair value of the expected shares to be purchased by the investors exceeds the proceeds under the 2025 SPA. The Company determined the expense related to the forward sales contract as of March 31, 2025 by taking the difference between (I) the fair value of the expected shares to be purchased by the investors as of the March 31, 2025 date the Company entered into the 2025 SPA and (ii) the discounted purchase price of the shares. The Company remeasured the fair value of the forward sales contract liability at each reporting period or immediately prior to the settlement of the shares purchased under the 2025 SPA and recognized changes in the fair value in the accompanying condensed consolidated statement of operations. Upon settlement of the shares, the corresponding forward sales contract liability was then reclassified to additional paid-in capital. During the nine months ended September 30, 2025, the Company completed the sale of the shares under the 2025 SPA, and as a result, the forward sales contract liability was reclassified to additional paid-in capital. There was no remaining forward sales contract liability balance as of September 30, 2025. <p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zoSCXxHvy24d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table summarizes the liabilities that are measured at fair value as of September 30, 2025 and December 31, 2024 (in thousands): SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250930_zb9VLhKNaajc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_z8olTQ58FoN4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Liabilities:</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zrOFi9F92mgh" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Warrant liabilities - Q1-22 warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 14%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationMember_zCcRVigdv2zb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contingent consideration</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationMember_zSbVREgL1Xt1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Liability fair value disclosure</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> </table> Certain inputs used in Black-Scholes and Monte Carlo models may fluctuate in future periods based upon factors that are outside of the Company’s control. A significant change in one or more of these inputs used in the calculation of the fair value may cause a significant change to the fair value of the Company’s warrant liabilities or contingent consideration liabilities, which could also result in material non-cash gains or losses being reported in the Company’s condensed consolidated statement of operations. <p id="xdx_897_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_z6TZ7EKemYR4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table presents the changes in the liabilities measured at fair value from January 1, 2025 through September 30, 2025 (in thousands): SCHEDULE OF CHANGES IN WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--WarrantLiabilitiesMember_zSVxZ5CW6Kr7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_us-gaap--FairValueByLiabilityClassAxis_custom--ContingentConsiderationMember_zx7I9O0HBUki" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contingent Consideration</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--FairValueByLiabilityClassAxis_custom--ForwardSalesContractMember_zr8u7ZpPmtbi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Forward Sales Contract</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_437_c20250101__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zO84Qck5LD3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Fair value at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> 1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> 41</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DerivativeLiabilityFairValueAdjustment_ztEXsNGSqzub" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Initial measurement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,335</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zcVORQkznlnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">512</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ReclassificationOfForwardSalesContractLiabilityToEquity_zFSTE4mdLAr5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Reclassification of forward sales contract</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueAdjustment_zQOwc6wQ93r5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,847</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_430_c20250101__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zpjw7FmOSvI6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Fair value at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company remeasured the fair value of the Q1-22 warrants at September 30, 2025, and the result of the remeasurement was de minimis. The Company assessed the fair value of the contingent consideration liability at each reporting period through September 30, 2025 and determined that there were no material changes to the inputs used in the December 31, 2024 remeasurement that would have resulted in a material change to the liability at September 30, 2025. Therefore, the Company did not recognize a change in fair value of the contingent consideration liability for the three and nine months ended September 30, 2025.

23000 5300000

<p id="xdx_897_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zoSCXxHvy24d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table summarizes the liabilities that are measured at fair value as of September 30, 2025 and December 31, 2024 (in thousands): SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250930_zb9VLhKNaajc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_z8olTQ58FoN4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Liabilities:</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zrOFi9F92mgh" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Warrant liabilities - Q1-22 warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 14%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationMember_zCcRVigdv2zb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contingent consideration</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--ContingentConsiderationByTypeAxis__custom--ContingentConsiderationMember_zSbVREgL1Xt1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Liability fair value disclosure</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> </table>

1000

41000

<p id="xdx_897_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_z6TZ7EKemYR4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table presents the changes in the liabilities measured at fair value from January 1, 2025 through September 30, 2025 (in thousands): SCHEDULE OF CHANGES IN WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B4_us-gaap--FairValueByLiabilityClassAxis_custom--WarrantLiabilitiesMember_zSVxZ5CW6Kr7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_us-gaap--FairValueByLiabilityClassAxis_custom--ContingentConsiderationMember_zx7I9O0HBUki" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contingent Consideration</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--FairValueByLiabilityClassAxis_custom--ForwardSalesContractMember_zr8u7ZpPmtbi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Forward Sales Contract</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_437_c20250101__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zO84Qck5LD3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Fair value at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> 1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> 41</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DerivativeLiabilityFairValueAdjustment_ztEXsNGSqzub" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Initial measurement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,335</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zcVORQkznlnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">512</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ReclassificationOfForwardSalesContractLiabilityToEquity_zFSTE4mdLAr5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Reclassification of forward sales contract</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueAdjustment_zQOwc6wQ93r5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">liability to equity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,847</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_430_c20250101__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zpjw7FmOSvI6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Fair value at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1000

41000

5335000

-1000

512000

-5847000

41000

5) GOODWILL The Company recorded goodwill in the amount of $2.0 million related to a 2018 acquisition that was accounted for as a business combination. Goodwill is not amortized but is tested for impairment annually, or more frequently if the Company becomes aware of any events occurring or changes in circumstances that indicate that the fair value of the entity is less than its carrying value. As of September 30, 2025, the Company did not identify potential triggering events that could indicate that the fair value of the entity is less than its carrying value and determined there were no such events that occurred.

2000000.0

6) ACCOUNTS PAYABLE AND ACCRUED EXPENSES During the three months ended September 30, 2025, the Company requested its legal counsel to provide guidance with respect to vendor collectability of various accounts payable and accrued expenses carried on its balance sheet from 2020 and prior. Based on the review of the statute of limitations for the various jurisdictions by which the liabilities were governed, legal counsel provided a conclusion as to whether such statute of limitation had expired in the respective jurisdiction. The statute of limitations is an affirmative defense in which the defendant introduces evidence, which, if found to be credible, will negate criminal or civil liability, even if it is proven the defendant committed the alleged acts. The party raising the affirmative defense has the burden of proof on establishing that it applies. In a civil action in which a creditor demands payment on a written instrument evidencing a debt, the successful assertion of the statute of limitations defense will bar collection of the debt. In order to assert the statute of limitations as a defense, a defendant must specifically assert the defense is the answer. If a defendant fails to specifically plead the defense, it will be deemed to be waived. Since no action to enforce such liabilities was brought before September 30, 2025, it is our legal counsel’s opinion that the liabilities are time-barred from collection under the respective state laws and should be removed from the Company’s balance sheet. Therefore, the Company wrote off approximately $0.5 million of accounts payable and approximately $0.2 million of accrued expenses, which resulted in a gain on extinguishment of debt of $0.7 million report in the accompanying condensed consolidated statement of operations for the three and nine months ended September 30, 2025. The Company did not write off any time-barred liabilities for the three and nine months ended September 30, 2024. Accrued expenses at September 30, 2025 and December 21, 2024 consisted of the following (in thousands): SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250930_zeneLcgHUDe3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231_zDK1WRQN6k24" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzPun_zy2ciRLqGyR" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"> 678</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">446</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedLegalFeesAndRelatedCurrent_iI_pn3n3_maALCzPun_zZmlhMCw8H8a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal matters</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzPun_zD9lqgLksoFl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzPun_z5WPKtegze3e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzPun_zuAoSimfuL53" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">859</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,007</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

500000

200000

700000

Accrued expenses at September 30, 2025 and December 21, 2024 consisted of the following (in thousands): SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250930_zeneLcgHUDe3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231_zDK1WRQN6k24" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzPun_zy2ciRLqGyR" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"> 678</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">446</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedLegalFeesAndRelatedCurrent_iI_pn3n3_maALCzPun_zZmlhMCw8H8a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal matters</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">323</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzPun_zD9lqgLksoFl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzPun_z5WPKtegze3e" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzPun_zuAoSimfuL53" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">859</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,007</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

678000

446000

30000 323000

12000

139000

226000

859000

1007000

7) LEASES The Company currently has operating leases for offices in the Borough of Manhattan in New York, New York, and Cambridge, Massachusetts, which expire in 2027 and 2028, respectively. For the three and nine months ended September 30, 2025 and 2024, the net operating lease expenses were as follows (in thousands): NET OPERATING LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250701__20250930_zRJoSEvxBle6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240701__20240930_z0ctTlIndChi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20250930_zItXFY7zayhg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20240930_zwVHmEibTiv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_pn3n3_maLCzDhH_zmSUQwkJYfXl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,110</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,380</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzDhH_zs1D4qPMrGHi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sublease income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--VariableLeaseCost_pn3n3_maLCzDhH_zDOrqxtZDK5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Variable lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzDhH_zNDUaAklz3m3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">53</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,314</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">160</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amounts for the three and nine months ended September 30, 2024 in the table above include expense related to a sublease that was terminated effective August 31, 2024. <p id="xdx_89F_ecustom--OperatingLeaseRightOfUseAssetsAndLiabilitiesTableTextBlock_zq9GaVguy4mg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The tables below show the beginning balances of the operating ROU assets and lease liabilities as of January 1, 2025 and the ending balances as of September 30, 2025, including the changes during the period (in thousands). OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease ROU Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Operating lease ROU assets at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iS_pn3n3_c20250101__20250930_z2J4wTFYic1e" style="width: 16%; text-align: right" title="Operating lease ROU assets, Beginning">670</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amortization of operating lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_pn3n3_di_c20250101__20250930_zgmN7TeQMdkl" style="text-align: right" title="Amortization of operating lease ROU assets">(142</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Remeasurment of ROU asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--RemeasurmentOfRightOfUseAsset_pn3n3_c20250101__20250930_zMUM2xztlRm6" style="border-bottom: Black 1pt solid; text-align: right" title="Remeasurment of ROU asset">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Operating lease ROU assets at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iE_pn3n3_c20250101__20250930_znZtpBa0ViZ" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease ROU assets, Beginning">541</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Operating lease liabilities at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iS_pn3n3_c20250101__20250930_zR0s9tnS9hs7" style="width: 16%; text-align: right" title="Operating lease liabilities, Beginning">684</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Principal payments on operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--PrincipalPaymentsOnOperatingLeaseLiabilities_pn3n3_c20250101__20250930_zNYCainO9P93" style="text-align: right" title="Principal payments on operating lease liabilities">(145</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Remeasurment of lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--RemeasurmentOfLeaseLiability_pn3n3_c20250101__20250930_z0zm33AURgz5" style="border-bottom: Black 1pt solid; text-align: right" title="Remeasurment of lease liability">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities at September 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iE_pn3n3_c20250101__20250930_zBpshqxr5dze" style="text-align: right" title="Operating lease liabilities, Ending">552</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Less non-current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityNoncurrent_iNI_pn3n3_di_c20250930_zPFrITevIwF8" style="border-bottom: Black 1pt solid; text-align: right" title="Less non-current portion">(346</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Current portion at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_c20250930_zC5zfCZYyzB4" style="border-bottom: Black 2.5pt double; text-align: right" title="Current portion">206</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The lease in Cambridge, Massachusetts, which commenced in June 2021, included a tenant improvement allowance of up to $50,000 (the “TI Allowance”), which was not paid or payable at lease commencement, and the amount of payment from the lessor was contingent on future events (e.g., the timing and the amount of qualified costs the Company incurs to construct leasehold improvements). Therefore, the TI Allowance was not previously included in the consideration of the contract when the Company measured the lease liability and ROU asset. During the three months ended September 30, 2025, the Company made some leasehold improvements to the Cambridge office space of approximately $66,000, of which $50,000 qualified to be reimbursed under the TI Allowance. As a result, the contingent aspects of the TI Allowance were resolved and became fixed, which resulted in the Company remeasuring the lease liability. The TI Allowance of $50,000 was deducted from the ROU asset balance immediately prior to the re-measurement. The remaining unpaid lease payments, including the reimbursement of the TI Allowance, which is considered a reduction in the consideration of the contract, were then remeasured using the current index and interest rate and resulted in an approximately $13,000 increase to the lease liability, with a corresponding adjustment to the ROU asset. The $66,000 of leasehold improvements was recorded as a fixed asset and is being depreciated over the remaining lease term. As of September 30, 2025, the Company’s operating leases had a weighted-average remaining life of 2.4 years with a weighted-average discount rate of 11.93%. The maturities of the operating lease liabilities are as follows (in thousands): MATURITIES OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250930_zh3iAAhsMbpi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzfyw_zKsVPNQLHoJ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"> 26</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzfyw_zgW8OcjlF8qb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzfyw_zFBvrNcxBNwl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzfyw_zTaZUHYY1pBc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzfyw_z9xnNtqI9EEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">625</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zJzOFAWRKWVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(73</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_z6gwNomZEWEc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

For the three and nine months ended September 30, 2025 and 2024, the net operating lease expenses were as follows (in thousands): NET OPERATING LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250701__20250930_zRJoSEvxBle6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240701__20240930_z0ctTlIndChi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20250930_zItXFY7zayhg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240101__20240930_zwVHmEibTiv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_pn3n3_maLCzDhH_zmSUQwkJYfXl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,110</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,380</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzDhH_zs1D4qPMrGHi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sublease income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--VariableLeaseCost_pn3n3_maLCzDhH_zDOrqxtZDK5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Variable lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">887</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzDhH_zNDUaAklz3m3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">53</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,314</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">160</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

67000

1110000

202000

4380000

21000

63000

7000

225000

21000

887000

53000

1314000

160000

5204000

<p id="xdx_89F_ecustom--OperatingLeaseRightOfUseAssetsAndLiabilitiesTableTextBlock_zq9GaVguy4mg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The tables below show the beginning balances of the operating ROU assets and lease liabilities as of January 1, 2025 and the ending balances as of September 30, 2025, including the changes during the period (in thousands). OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease ROU Assets</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Operating lease ROU assets at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iS_pn3n3_c20250101__20250930_z2J4wTFYic1e" style="width: 16%; text-align: right" title="Operating lease ROU assets, Beginning">670</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amortization of operating lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_pn3n3_di_c20250101__20250930_zgmN7TeQMdkl" style="text-align: right" title="Amortization of operating lease ROU assets">(142</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Remeasurment of ROU asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--RemeasurmentOfRightOfUseAsset_pn3n3_c20250101__20250930_zMUM2xztlRm6" style="border-bottom: Black 1pt solid; text-align: right" title="Remeasurment of ROU asset">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Operating lease ROU assets at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iE_pn3n3_c20250101__20250930_znZtpBa0ViZ" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease ROU assets, Beginning">541</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Operating lease liabilities at January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iS_pn3n3_c20250101__20250930_zR0s9tnS9hs7" style="width: 16%; text-align: right" title="Operating lease liabilities, Beginning">684</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Principal payments on operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--PrincipalPaymentsOnOperatingLeaseLiabilities_pn3n3_c20250101__20250930_zNYCainO9P93" style="text-align: right" title="Principal payments on operating lease liabilities">(145</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Remeasurment of lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--RemeasurmentOfLeaseLiability_pn3n3_c20250101__20250930_z0zm33AURgz5" style="border-bottom: Black 1pt solid; text-align: right" title="Remeasurment of lease liability">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities at September 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iE_pn3n3_c20250101__20250930_zBpshqxr5dze" style="text-align: right" title="Operating lease liabilities, Ending">552</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Less non-current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityNoncurrent_iNI_pn3n3_di_c20250930_zPFrITevIwF8" style="border-bottom: Black 1pt solid; text-align: right" title="Less non-current portion">(346</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Current portion at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_c20250930_zC5zfCZYyzB4" style="border-bottom: Black 2.5pt double; text-align: right" title="Current portion">206</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

670000

142000

13000

541000

684000

-145000 13000

552000

346000

206000

50000

66000

50000

13000

66000

P2Y4M24D

0.1193

MATURITIES OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250930_zh3iAAhsMbpi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzfyw_zKsVPNQLHoJ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"> 26</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzfyw_zgW8OcjlF8qb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzfyw_zFBvrNcxBNwl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzfyw_zTaZUHYY1pBc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzfyw_z9xnNtqI9EEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">625</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zJzOFAWRKWVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(73</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_z6gwNomZEWEc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

26000

304000

200000

95000

625000

73000

552000

8) BRIDGE NOTES AND PROMISSORY NOTES Bridge Notes Financing On September 24, 2024, the Company entered into a purchase agreement with certain purchasers for the private placement of $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zIrAL9x4Bd61">3.9 million of convertible notes (the “Bridge Notes”). The interest rate on the Bridge Notes was 12% per year, payable quarterly in arrears. At the Company’s election, it may pay interest either in cash or in-kind by increasing the outstanding principal amount of the Bridge Notes. The Bridge Notes were to mature on the one<span id="xdx_90E_eus-gaap--DebtInstrumentTerm_dtY_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zFycrpLZDUVe" style="display: none">1-year anniversary of the date of their issuance, unless earlier converted or repurchased. The Company did not have the option to redeem any of the Bridge Notes prior to maturity. The Bridge Notes financing closed on September 24, 2024. The only conversion event for the Bridge Notes was upon stockholder approval at the Company’s annual meeting of stockholders on October 29, 2024 (the “2024 Annual Meeting”), in which case, <span id="xdx_90A_ecustom--RepurchasePricePercentageToPrincipalAmount_pid_uPure_c20250101__20250930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_z1mwBdqiUNmi" title="Repurchase price percentage">100% of the principal amount of the Bridge Notes plus all accrued and unpaid interest thereon, and interest that would have accrued on the principal amount through December 24, 2024, would automatically convert into shares of the Company’s common stock at a conversion price of $<span id="xdx_903_eus-gaap--CommonStockConvertibleConversionPriceDecrease_pid_c20250101__20250930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zgLBBRSrA50i" title="conversion price">7.50. Otherwise, the Bridge Notes could only be paid in cash upon maturity. The Company was required to bifurcate the conversion feature from the Bridge Notes and record it as a derivative liability at its fair value. The Company determined the fair value of the derivative liability by taking the difference between the fair value of the Bridge Notes with the conversion feature and without the conversion feature, which resulted in the Company recording a $<span id="xdx_902_eus-gaap--DerivativeLiabilities_iI_pn5n6_c20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zS5gfKaODBpd" title="Derivative liabilities">5.5 million derivative liability, with a corresponding $<span id="xdx_908_ecustom--ReductionInCarryingAmountOfDebt_pn5n6_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zixGJjoeJu03" title="Reduction in carrying amount">3.9 million reduction in the carrying value of the Bridge Notes recorded as a debt discount and a $<span id="xdx_900_ecustom--IncrementalFairValueExpenses_pn5n6_c20240924__20240924__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zdYScTt126af" title="Incremental fair value expenses">1.6 million charge to expense for the incremental fair value of the derivative liability as of September 24, 2024. The debt discount was amortized as a component of interest expense. At September 30, 2024, the Company remeasured the fair value of the Bridge Notes derivative liability and recorded a reduction in the liability of $<span id="xdx_903_eus-gaap--DerivativeLiabilities_iI_pn5n6_c20240930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zQeIFIumcLmg" title="Derivative liabilities">0.6 million. The corresponding credit of $<span id="xdx_907_eus-gaap--NotesPayableFairValueDisclosure_iI_pn5n6_c20240930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zZMOHl1KVwz9" title="Fair value remeasurement">0.6 million is recorded as a component of the fair value adjustments to Bridge Notes derivative liability on the accompanying condensed consolidated statement of operations for the three and nine months ended September 30, 2024, which also includes the $<span id="xdx_905_eus-gaap--IncreaseDecreaseInDerivativeLiabilities_pn5n6_c20240701__20240930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zaQUCRO9cgEe" title="Derivative liabilities"><span id="xdx_904_eus-gaap--IncreaseDecreaseInDerivativeLiabilities_pn5n6_c20240101__20240930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__custom--BridgeDebtMember_zFgXGnhVbLLa" title="Derivative liabilities">1.6 million incremental expense noted above. On October 29, 2024, all of the Bridge Notes were converted to common stock as part of the September 2024 Transactions (as defined in Note 12) that the Company’s stockholders approved at the 2024 Annual Meeting, and as of September 30, 2025, there is no liability remaining on the Bridge Notes. Promissory Notes On March 11, 2025, the Company received $<span id="xdx_906_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteOneMember_zN017ULrMZPk" title="Convertible notes, net">1.5 million for the issuance of a promissory note in the principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteOneMember_z0RJtGj1MIg1" title="Aggregate principal amount">1.5 million to Charles Cherington, and on March 21, 2025 the Company received $<span id="xdx_90B_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250321__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteTwoMember_z6cvTYp1NNn" title="Convertible notes, net">0.8 million for the issuance of a second promissory note in the principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250321__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteTwoMember_zQvYwO79DSz8" title="Aggregate principal amount">0.8 million to Mr. Cherington. The promissory notes had a maturity date of the earlier of (I) June 15, 2025 or (ii) upon the Company receiving $5.0 million in gross proceeds from a subsequent capital raise. Each of the promissory notes accrued interest at a rate of 5.0% per annum, payable at maturity. As a result of completing the private placement during the second quarter of 2025 discussed in Note 12, the Company offset the outstanding principal plus accrued interest on the notes in full in the aggregate amount of $2.3 million with the receivable due to the Company from Mr. Cherington for his purchase of shares in the private placement, and as of September 30, 2025, there were no outstanding balances on the notes.

3900000

P1Y

100

7.50

5500000

3900000 1600000

600000

1600000

1500000

800000

June 15, 2025

5000000.0

0.050

2300000

9) STOCK-BASED COMPENSATION Stock Options <p id="xdx_89B_ecustom--ShareBasedPaymentArrangementOptionGrantsInPeriodTableTextBlock_zINtVD4Ln1Wa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">During the three and nine months ended September 30, 2025 and 2024, the Company granted options to purchase the number of shares of the Company’s common stock set forth in the table below (in thousands): SCHEDULE OF STOCK OPTION GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250701__20250930_zTydUNbjNMN5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240701__20240930_zAL00lqsyZr" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250930_zKKyyV4BR8G7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240101__20240930_z9ZC33rVTKI7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpxyTJ8XzpQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Stock options granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">137</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td></tr> </table> The Company recognizes stock-based compensation expense for stock options granted to employees, directors and certain consultants. The Company estimates the fair value of stock options using the Black-Scholes option pricing model. The fair value of stock options granted is recognized as expense over the requisite service period on a straight-lined basis. <p id="xdx_89C_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zXOWB9oIaB8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following weighted-average assumptions were used for stock options granted during the three and nine months ended September 30, 2025 and 2024: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS USED FOR STOCK OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20250930_zI89PH7tSul8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20240930_zmnNkr8fsXYf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_z4ZDt0YiNPMb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_zwUTga5Ke34j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zf6gKQEER4Fe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Weighted average risk-free rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.38</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.45</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z6HUMQ34VG9" style="vertical-align: bottom; background-color: White"> <td>Weighted average volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130.22</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97.91</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrcesStGc9qb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250701__20250930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuQ5ap3vUEhg" title="Expected term">10.0 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zi59mkfhbnA7" title="Expected term">6.66 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20240930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zx7Jz1oEb3qi" title="Expected term">5.85 years</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_894_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock_zb1z3BF3PMnh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The per-share weighted average grant-date fair value of stock options granted during the three and nine months ended September 30, 2025 and 2024 were as follows: SCHEDULE OF WEIGHTED AVERAGE GRANT-DATE FAIR VALUE OF STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20250930_z3yypn9TXrV1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240701__20240930_zvqkKl1L0FZ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_zT7DBLetItRf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_z5XKxb60LVJ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPfAVk9b5YSc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 18%; text-align: left">Weighted average grant date fair value</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right">1.29</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4.02</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">21.55</td><td style="width: 1%; text-align: left"> </td></tr> </table> Vesting of all stock options is subject to continuous service with the Company through the applicable vesting date. As of September 30, 2025, there were approximately <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zC8MrPktgWGj" title="Number of stock option awards outstanding">305,000 shares of the Company’s common stock subject to outstanding stock options. Restricted Stock Units The Company recognizes the fair value of RSUs as expense on a straight-line basis over the requisite service period. For performance-based RSUs, the Company begins recognizing the expense once the achievement of the related performance goal is determined to be probable. Outstanding RSUs are settled in an equal number of shares of common stock on the vesting date of the award. An RSU award is settled only to the extent vested. Vesting generally requires continued employment or service by the award recipient through the applicable vesting date. Because RSUs are settled in an equal number of shares of common stock without any offsetting payment by the recipient, the measurement of cost is based on the quoted market price of the stock at the measurement date, which is the grant date. In lieu of paying cash to satisfy withholding taxes due upon the settlement of vested RSUs, at the Company’s discretion, an employee may elect to have shares of common stock withheld that would otherwise be issued at settlement, the value of which is equal to the amount of withholding taxes payable. Approximately <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_do_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zDZtinPp4DW2" title="RSUs vested">30 RSUs vested during the nine months ended September 30, 2025, and approximately <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_do_c20240101__20240930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zt2huPBsfiel" title="RSUs vested">29 RSUs vested during the nine months ended September 30, 2024. No RSUs vested during the three months ended September 30, 2025 or 2024. The Company did <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_do_c20250701__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zuaCvfXJNJnk" title="Number of RSUs granted"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_do_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zMk0dYzHysu4" title="Number of RSUs granted"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_do_c20240701__20240930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zLffAUMaeL6e" title="Number of RSUs granted"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_do_c20240101__20240930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJrN1Jx88rW9" title="Number of RSUs granted">not grant RSUs during the three and nine months ended September 30, 2025 or 2024, and as of September 30, 2025, there were no RSUs outstanding. Stock-Based Compensation Expense <p id="xdx_89A_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zePIiDWHzDql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">For the three and nine months ended September 30, 2025 and 2024, the Company recognized stock-based compensation expense as follows (in thousands): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250701__20250930_zl7E9hrtcYp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240701__20240930_zK7Jk8hqcdlb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_zs0nJIljQWai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20240930_z7yd7kec38H9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_z7USNES0dcbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zLZlpNWf0kl9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">284</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">392</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,123</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,036</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zaCk5y75yOp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">405</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_89B_ecustom--ShareBasedPaymentArrangementOptionGrantsInPeriodTableTextBlock_zINtVD4Ln1Wa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">During the three and nine months ended September 30, 2025 and 2024, the Company granted options to purchase the number of shares of the Company’s common stock set forth in the table below (in thousands): SCHEDULE OF STOCK OPTION GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250701__20250930_zTydUNbjNMN5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240701__20240930_zAL00lqsyZr" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250930_zKKyyV4BR8G7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240101__20240930_z9ZC33rVTKI7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpxyTJ8XzpQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Stock options granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">137</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">158</td><td style="width: 1%; text-align: left"> </td></tr> </table>

12000

137000

158000

<p id="xdx_89C_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zXOWB9oIaB8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following weighted-average assumptions were used for stock options granted during the three and nine months ended September 30, 2025 and 2024: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS USED FOR STOCK OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20250930_zI89PH7tSul8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20240930_zmnNkr8fsXYf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_z4ZDt0YiNPMb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_zwUTga5Ke34j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zf6gKQEER4Fe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Weighted average risk-free rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.38</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4.45</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z6HUMQ34VG9" style="vertical-align: bottom; background-color: White"> <td>Weighted average volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130.22</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97.91</td><td style="text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrcesStGc9qb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250701__20250930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuQ5ap3vUEhg" title="Expected term">10.0 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zi59mkfhbnA7" title="Expected term">6.66 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20240930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zx7Jz1oEb3qi" title="Expected term">5.85 years</td><td style="text-align: left"> </td></tr> </table>

0.0423

0.0438

0.0445

1.3022

1.1725

0.9791

0.0000

P10Y

P6Y7M28D

P5Y10M6D

<p id="xdx_894_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock_zb1z3BF3PMnh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The per-share weighted average grant-date fair value of stock options granted during the three and nine months ended September 30, 2025 and 2024 were as follows: SCHEDULE OF WEIGHTED AVERAGE GRANT-DATE FAIR VALUE OF STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20250930_z3yypn9TXrV1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240701__20240930_zvqkKl1L0FZ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_zT7DBLetItRf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_z5XKxb60LVJ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPfAVk9b5YSc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 18%; text-align: left">Weighted average grant date fair value</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 17%; text-align: right">1.29</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4.02</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">21.55</td><td style="width: 1%; text-align: left"> </td></tr> </table>

1.29

4.02

21.55

305000

<p id="xdx_89A_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zePIiDWHzDql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">For the three and nine months ended September 30, 2025 and 2024, the Company recognized stock-based compensation expense as follows (in thousands): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250701__20250930_zl7E9hrtcYp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240701__20240930_zK7Jk8hqcdlb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250930_zs0nJIljQWai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20240930_z7yd7kec38H9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_z7USNES0dcbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zLZlpNWf0kl9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">284</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">392</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,123</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,036</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zaCk5y75yOp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">405</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9000

13000

40000

74000

284000

392000

1123000

1036000

293000

405000

1163000

1110000

10) NET LOSS PER SHARE The Company calculates basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities. The Company’s previously issued convertible notes contractually entitled the holders of such notes to participate in dividends but did not contractually require the holders to participate in the Company’s losses. As such, the two-class method is not applicable during periods with a net loss. Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, including the weighted average effect of prefunded warrants, and without consideration for potentially dilutive securities. Diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding, including the weighted average effect of the prefunded warrants, plus dilutive securities. Shares of common stock issuable upon exercise, conversion or vesting of stock options, restricted stock units, warrants and the outstanding Series A convertible preferred stock are considered potential shares of common stock and are included in the calculation of diluted net loss per share using the treasury method when their effect is dilutive. The Company’s convertible notes that were outstanding as of September 30, 2024 were also considered potential shares of common stock for the three and nine months ended September 30, 2024 and were included in the calculation of diluted net loss per share using the “if-converted” method as of such period, and the more dilutive of either the two-class method or the if-converted method was reported. There were no convertible notes outstanding as of September 30, 2025. Diluted net loss per share is the same as basic net loss per share for periods in which the effect of potentially dilutive shares of common stock is antidilutive. <p id="xdx_896_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zBzp8AyQGrta" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table presents the number of shares subject to outstanding stock options, warrants, convertible notes and Series A convertible preferred stock that were excluded from the computation of diluted net loss per share of common stock for the three and nine months ended September 30, 2025 and 2024, as their effect was anti-dilutive (in thousands): SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE OF COMMON STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250930_zt0RCcLZaTWb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_zkSP1GBfhPl2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three and nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zp7lo8hfOQJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">305</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">168</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zxRJDotAQBl8" style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zSMLyL1ciNa5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Preferred stock converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleCommonStockMember_zd80gZX4yxkf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Convertible Notes converted into common stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">555</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zdesd1uX1UCd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total potential common shares excluded from computation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">342</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,084</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_896_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zBzp8AyQGrta" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">The following table presents the number of shares subject to outstanding stock options, warrants, convertible notes and Series A convertible preferred stock that were excluded from the computation of diluted net loss per share of common stock for the three and nine months ended September 30, 2025 and 2024, as their effect was anti-dilutive (in thousands): SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE OF COMMON STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250930_zt0RCcLZaTWb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240930_zkSP1GBfhPl2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three and nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zp7lo8hfOQJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">305</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">168</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zxRJDotAQBl8" style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zSMLyL1ciNa5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Preferred stock converted into common stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleCommonStockMember_zd80gZX4yxkf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Convertible Notes converted into common stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">555</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zdesd1uX1UCd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total potential common shares excluded from computation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">342</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,084</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

305000

168000

32000

1359000

5000

2000

555000

342000

2084000

11) COMMITMENTS AND CONTINGENCIES Litigation Matters The Company is involved in litigation and arbitrations from time to time in the ordinary course of business. Legal fees and other costs associated with such actions are expensed as incurred. In addition, the Company assesses the need to record a liability for litigation and contingencies. The Company reserves for costs relating to these matters when a loss is probable, and the amount can be reasonably estimated. Donoghue v. Cherington and Ernexa Dennis J. Donoghue, a security owner of the Company, initiated a lawsuit against the Company as a nominal defendant, and Charles Cherington (“Cherington”) as defendant, on October 20, 2025 in the Southern District of New York (Case No. 25-cv-8653) alleging a violation of Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78p(b) and seeking recovery of alleged short swing profits by Cherington. Licensing Agreements On September 24, 2024, the Company entered into the Exclusive License and Collaboration Agreement (“the Factor L&C Agreement”) with Factor Bioscience Limited (“Factor Limited”). The Factor L&C Agreement terminated a previous license agreement, as well as a license that the Company acquired from a third party pursuant to an asset purchase agreement in April 2023. Under the Factor L&C Agreement, the Company has obtained exclusive licenses in the fields of cancer, autoimmune disorders, and rare diseases with respect to certain licensed technology and has the right to develop the licensed technology directly or enter into co-development agreements with partners who can help bring such technology to market. The Factor L&C Agreement also provides for certain services and materials to be provided by Factor Bioscience to facilitate the development of the licensed technology and to enable the Company to scale up production at third party facilities. The initial term of the Factor L&C Agreement is one year after the effective date, and it automatically renews yearly thereafter. The Company may terminate the Factor L&C Agreement for any reason upon <span id="xdx_900_ecustom--NoticePeriodForCustomaryTerminationRights_dtD_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember_zdGQbVbERlpi" title="Notice period for customary termination rights">90 days’ written notice to Factor Bioscience, and the parties otherwise have customary termination rights, including in connection with certain uncured material breaches and specified bankruptcy events. Pursuant to the Factor L&C Agreement, the Company will pay Factor Bioscience approximately $<span id="xdx_908_eus-gaap--OperatingCostsAndExpenses_pn5n6_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember__srt--StatementScenarioAxis__custom--FirstTwelveMonthsMember_zzfKrMXFnt2j" title="Costs">0.2 million per month for the first twelve months, approximately $<span id="xdx_907_eus-gaap--OperatingCostsAndExpenses_pn5n6_c20240924__20240924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FactorLAndCAgreementMember__srt--StatementScenarioAxis__custom--FirstNineMonthsMember_zvlnMq3ZVl33" title="Costs">0.1 million per month for the first nine months toward patent costs, certain milestone payments, royalty payments on net sales of commercialized products and sublicensing fee payments. Contingent Consideration The Company has recorded a three-year contingent consideration liability related to an asset acquisition in April 2023. If during the three-year period since April 26, 2023, the Company’s market cap equals or exceeds $100 million for at least ten consecutive trading days, then the Company will issue to the seller shares of the Company’s common stock equal to (a) $2.0 million divided by (b) the quotient of $100 million divided by the number of the Company’s then issued and outstanding shares of common stock. If during that three-year period, the Company’s market cap equals or exceeds $200 million for at least ten consecutive trading days, then the Company will issue to the seller additional shares of the Company’s common stock equal to (a) $2.0 million divided by (b) the quotient of $200 million dividend by the number of the Company’s then issued and outstanding shares of common stock. As discussed in Note 4, the Company records the contingent consideration liability at its fair value, and as of September 30, 2024 the fair value of the liability was approximately $41,000. The contingent consideration obligation will expire on April 26,2026. Retirement Savings Plan The Company offers to its eligible employees a defined contribution plan, organized under Section 401(k) of the Internal Revenue Code, through its co-employment arrangement with its professional employer organization (“PEO”). Under this arrangement, the PEO serves as the plan sponsor and administrator. Eligible employees may defer up to <span id="xdx_901_ecustom--DefinedContributionPlanDeferralPercentOfAnnualCompensationPercentage_pid_dp_uPure_c20250101__20250930__srt--RangeAxis__srt--MaximumMember_zFneOT9rRcX" title="Employees contribution, deferral percentage of annual compensation">100% of their annual compensation or a specific amount imposed by the Internal Revenue Service, whichever is less. The Company matches employees’ contributions at a rate of <span id="xdx_902_ecustom--DefinedContributionPlanDeferralPercentOfTheirPayOnPreTaxBasis_pid_dp_uPure_c20250101__20250930__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zw4MV6EkuSf9" title="Employees contribution, deferral percentage of their pay on a pre-tax basis">100% of the first <span id="xdx_90C_ecustom--DefinedContributionPlanEmployerMatchingContributionPercentOfMatchOne_pid_dp_uPure_c20250101__20250930__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zOVxtn0r9aX2" title="Employer matching contribution up to first 3%">3% of the employee’s contribution and <span id="xdx_906_ecustom--DefinedContributionPlanEmployeeContributionAtThresholdOne_pid_dp_uPure_c20250101__20250930__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zv5jxwx6LYi2" title="Employee contribution threshold for matching percentage">50% of the next <span id="xdx_90C_ecustom--DefinedContributionPlanEmployerMatchingContributionPercentOfMatchTwo_pid_dp_uPure_c20250101__20250930__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zbKPqjlYLfJ6" title="Employer matching contribution in excess of first 2%">2% of the employee’s contribution, for a maximum Company match of <span id="xdx_90E_ecustom--DefinedContributionPlanEmployeeContributionAtThresholdTwo_pid_dp_uPure_c20250101__20250930__us-gaap--RetirementPlanNameAxis__custom--RetirementPlan401KMember_zMtW3g18Z414" title="Deferred compensation matched by employer, next match">4%.

P90D

200000

100000

If during the three-year period since April 26, 2023, the Company’s market cap equals or exceeds $100 million for at least ten consecutive trading days, then the Company will issue to the seller shares of the Company’s common stock equal to (a) $2.0 million divided by (b) the quotient of $100 million divided by the number of the Company’s then issued and outstanding shares of common stock. If during that three-year period, the Company’s market cap equals or exceeds $200 million for at least ten consecutive trading days, then the Company will issue to the seller additional shares of the Company’s common stock equal to (a) $2.0 million divided by (b) the quotient of $200 million dividend by the number of the Company’s then issued and outstanding shares of common stock.

41000

2026-04-26 1 1 0.03 0.50 0.02 0.04

12) EQUITY TRANSACTIONS 2024 Exchange Transaction On September 24, 2024, the Company entered into exchange agreements (the “Exchange Agreements”) with (I) the holders of all convertible notes issued in the 2023 convertible note financings (the “2023 Convertible Notes), (ii) all holders of warrants issued in connection with the 2023 Convertible Notes and (iii) substantially all of the holders of warrants issued in December 2022. One holder for a December 2022 warrant to purchase approximately <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pn3n3_c20240924__us-gaap--AwardDateAxis__custom--DecemberTwoThousandTwentyTwoConvertibleNotesMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zmKUb1cG4Ank" title="Warrants purchase">9,000 shares of our common stock did not enter into the Exchange Agreement. Subject to approval by the Company’s stockholders at the 2024 Annual Meeting, under the Exchange Agreements (i) the holders of the warrants agreed to exchange all their warrants for shares of the Company’s common stock at an exchange ratio of 0.50 shares of a share of common stock for every one share of common stock issuable upon exercise of the applicable warrant (rounded up to the nearest whole number), and (ii) the holders of the convertible notes agreed to exchange all their convertible notes for shares of the Company’s common stock at an exchange ratio equal to (A) the sum expressed in U.S. dollars of (1) the principal amount of the applicable convertible note, plus (2) all accrued and unpaid interest thereon through the date the applicable convertible note is exchanged plus (3) all interest that would have accrued through, but not including, the maturity date of applicable convertible note if it was outstanding from the date such convertible note is exchanged through its maturity date (the sum of (A) totaling approximately $28.4 million), divided by (B) $15.00 (rounded up to the nearest whole number) (the “Exchange Transactions”). The Company determined that the modifications to the convertible notes should be accounted for as an extinguishment of debt because there was at least a <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20240924__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zRwUowFnxG7h" title="Debt instrument interest rate stated percentage">10% change in the cash flows of the modified debt instrument compared to the carrying amount of the original debt instrument, and as such, the difference between the reacquisition price (which includes any premium) and the net carrying amount of the debt being extinguished (which includes any deferred debt issuance costs) should be recognized as a gain or loss when the debt is extinguished. As of September 24, 2024, prior to entering into the Exchange Agreements, there was approximately $10.1 million of net carrying amount of the convertible notes, which was comprised of $<span id="xdx_90A_eus-gaap--DebtInstrumentIncreaseAccruedInterest_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_z1sbDkPnAdwa" title="principal and accrued interest">19.4 million of principal and accrued interest through such date, offset by approximately $<span id="xdx_909_eus-gaap--DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_iI_pn5n6_c20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zkr3GGtwLRf6" title="Unamortized debt issuance costs">9.3 million of unamortized debt issuance costs. The fair value of the reacquired convertible notes was $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_z24gXIwleq7k" title="Fair value of reacquired convertible notes">32.0 million and was determined by multiplying approximately <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_z5EcQoA5Yp2k" title="Fair value of reacquired convertible notes, shares">1,890,000 shares the Company would be issuing on October 29, 2024 by the closing stock price of $16.95 per share on September 24, 2024. The difference between the reacquisition price and the net carrying amount of the convertible notes being extinguished was approximately $21.9 million. Accordingly, the Company increased the carrying value of the reacquired convertible notes to $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zTsAaJL9zlo" title="Fair value of reacquired convertible notes">32.0 million and recognized a loss on extinguishment of debt of approximately $21.9 million during the three and nine months ended September 30, 2024. Because shareholder approval was required for the Exchange Transactions to occur, the Company determined that the modifications to the warrants resulted in a change in classification of such warrants from equity to liability. A provision that requires shareholder approval precludes equity classification because such approval is not an input into a fixed-for-fixed valuation model. As a result, the Company recorded the warrants at fair value as of September 24, 2024 by taking the number of shares of common stock issuable from the exchanged warrants multiplied by the closing stock price of $16.95 and reclassified approximately $<span id="xdx_90E_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_pn5n6_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zjK1ZmEY5nEh" title="Reclassification of warrants">11.2 million from equity to warrant liabilities. The Company then marked-to-market the warrants as of September 30, 2024 by taking the same quantity of shares multiplied by the closing stock price on such date and recognized a reduction to the warrant liabilities of $0.8 million. A corresponding credit of $<span id="xdx_90B_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20240701__20240930__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zAdOkqfH7v3" title="Change in fair value of warrant liabilities"><span id="xdx_905_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20240101__20240930__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementsMember_zi4F0rVePXUe" title="Change in fair value of warrant liabilities">0.8 million was recognized as a change in fair value of warrant liabilities for the three and nine months ended September 30, 2024 on the accompanying condensed consolidated statement of operations. Common Stock Private Placement On September 24, 2024, the Company entered into a securities purchase agreement (the “2024 SPA”) with certain accredited investors to sell in a private placement an aggregate of approximately <span id="xdx_905_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240924__20240924__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonstockPrivatePlacementMember_zcDxRD2RcGk1" title="Sale of stock, number of common stock issued">101,000 shares of the Company’s common stock (or, in lieu thereof, pre-funded warrants to purchase one share of our common stock) for a purchase price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_c20240924__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonstockPrivatePlacementMember_zGzwXgMZe0qj" title="Sale of stock, price per share">11.25 per share of common stock and $<span id="xdx_908_eus-gaap--SaleOfStockPricePerShare_iI_c20240924__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonstockPrivatePlacementMember_zX4k5DmggToa" title="Sale of stock, price per share">11.175 per pre-funded warrant (the “Common Stock Private Placement” and together with the Bridge Notes and the Exchange Transactions, the “September 2024 Transactions”). The closing of the Common Stock Private Placement was conditioned upon receiving stockholder approval at the 2024 Annual Meeting. The 2024 SPA represented a forward sale contract obligating the Company to sell a fixed number of shares of its common stock at a fixed price per share upon obtaining shareholder approval at the 2024 Annual Meeting. The Company measured the fair value of the forward sale contract as the difference between (A) the fair value of the expected shares to be purchased by the investors as of the date the Company entered into the 2024 SPA and (B) the purchase price of the shares and recorded approximately $0.6 million to additional paid-in capital as of September 24, 2024. Because of the concurrent execution of the 2024 SPA and the Exchange Agreements, and because the investors in the 2024 SPA were also parties to the Exchange Transactions, the $<span id="xdx_90A_eus-gaap--ExtinguishmentOfDebtGainLossNetOfTax_pn5n6_c20250101__20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zoev8FD35tyb" title="Loss on extinguishment of debt">0.6 million was added to the $<span id="xdx_90E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zeE8paPeFZee" title="Loss on extinguishment of debt">21.9 million loss on extinguishment of debt discussed above for a total loss of $22.4 million during the three and nine months ended September 30, 2024 in the accompanying condensed consolidated statement of operations. 2025 Private Placement On March 31, 2025, the Company entered into a securities purchase agreement (the “2025 SPA”) with certain accredited investors to sell in a private placement an aggregate of approximately <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250331__20250331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zDgTqMWtwrAj" title="Sale of stock, number of common stock issued">4,621,000 shares of common stock at a purchase price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_c20250331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zXefLnF2hdJg" title="Sale of stock, price per share">1.569 per share (or pre-funded warrants in lieu of common stock at a purchase price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_c20250331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantMember_z2XmT7aUlpcl" title="Sale of stock, price per share">1.494 per pre-funded warrant). The pre-funded warrants will be exercisable until exercised in full at a nominal exercise of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantMember_z3d7dOfCE3A7" title="Nominal Exercise">0.075 per share and may not be exercised to the extent such exercise would cause the holder to beneficially own more than <span id="xdx_902_ecustom--OutstandingCommonStockPercentageDescription_c20250331__20250331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z1GtnsEAizEb" title="Outstanding common stock percentage, description">4.99% or 9.99%, as applicable, of the Company’s outstanding common stock. The 2025 SPA represented a forward sale contract obligating the Company to sell a fixed number of shares of its common stock at a fixed price per share and contained an adjustment to the settlement amount based on shareholder approval, which is not an input into the pricing of a fixed-for-fixed forward on equity shares. The Company measured the fair value of the forward sale contract as the difference between (i) the fair value of the expected shares to be purchased by the investors as of the date the Company entered into the 2025 SPA and (ii) the discounted purchase price of the shares, and recorded a liability of approximately $<span id="xdx_908_ecustom--DiscountedPurchasePriceOfSharesAndLiability_iI_pn5n6_c20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zZGYrGvbXrzg" title="Discounted purchase price of shares and liability">5.3 million at the contract inception date. The Company also recognized a corresponding $<span id="xdx_90C_ecustom--ForwardSalesContractLiabilityAtFairValue_pn5n6_c20250101__20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z4aUbwbvdJAj" title="Forward sales contract liability at fair value">5.3 million charge to expense on the contract inception date because the fair value of the expected shares to be purchased by the investors exceeded the expected proceeds under the 2025 SPA. During the nine months ended September 30, 2025, the Company sold the following shares of common stock and pre-funded warrants under the 2025 SPA (in thousands): SCHEDULE OF COMMON STOCK AND PRE-FUNDED WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Pre-funded Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: center">April 2, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,090</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">June 9, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,182</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,921</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">June 27, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,201</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The shares sold on April 2, 2025 (the “First Closing”) represented 19.99% of the Company’s outstanding shares of common stock as of March 31, 2025. The shares sold in June 2025 (the “Second Closing”) were subject to satisfaction or waiver of certain conditions, including without limitation, receipt of stockholder approval for such issuance as required under applicable Nasdaq listing rules, which the Company received at the 2025 Annual Meeting. Immediately before each settlement date, the Company remeasured the fair value of the respective forward sales contract liability and recognized the change in fair value in the accompanying condensed consolidated statement of operations. Upon settlement, the Company then reclassified the respective forward sales contract liability to additional paid-in capital. For the nine months ended September 30, 2025, the Company recognized $5.8 million, respectively, of forward sales contract expense. There was no forward sales contract expense during the three months ended September 30, 2025 or during the three and nine months ended September 30, 2024. During the nine months ended September 30, 2025, the Company reclassified the $5.8 million forward sales contract liability to additional paid-in capital, and at September 30, 2025, there was no forward sales contract liability balance. Warrants <p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zWYZNggXnund" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">As of September 30, 2025, the Company had the following warrants outstanding: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants Outstanding (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expiration Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Classification</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zIFHnHrDeoKe" style="width: 12%; text-align: right" title="Warrants Outstanding">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zb2B8ccAX7rc" style="width: 12%; text-align: right" title="Exercise Price">572.98</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">03/09/22</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">09/09/27</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">Liability</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zKPJBFDVUxWl" style="text-align: right" title="Warrants Outstanding">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zk4fcL5V1Jm" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90A_ecustom--WarrantsAndRightsOutstandingIssuanceDate_dd_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z7wrCwiI6Zjc" title="Issuance Date">12/02/22</td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z4cKnggJXcX5" title="Expiration Date">06/02/28</td><td> </td> <td style="text-align: center"><span id="xdx_906_ecustom--ClassOfWarrantOrRightClassification_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z5WqQ6DuncOi" title="Classification">Equity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsOneMember_zs4yHunOsgu4" style="text-align: right" title="Warrants Outstanding">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsOneMember_zvZ25XxqQ3Eh" style="text-align: right" title="Exercise Price">0.075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">10/29/24</td><td> </td> <td style="text-align: center">None</td><td> </td> <td style="text-align: center">Equity</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsTwoMember_zYZwSumvrTL2" style="text-align: right" title="Warrants Outstanding">34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsTwoMember_z1Tj5NVqhxma" style="text-align: right" title="Exercise Price">0.075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">04/02/25</td><td> </td> <td style="text-align: center">None</td><td> </td> <td style="text-align: center">Equity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsThreeMember_zQTzGyI2aDc5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Outstanding">274</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsThreeMember_zdUuoJ0u5tWi" style="padding-bottom: 1pt; text-align: right" title="Exercise Price">0.075</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">06/09/25</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">None</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Equity</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930_zfgm6cu0z2E7" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Outstanding">415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> As of September 30, 2025, the weighted average remaining contractual life of expiring warrants outstanding was <span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250930__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zoBhREHH9Cjh" title="Warrants outstanding weighted average contractual life">2.16 years and the weighted average exercise price for the expiring warrants was $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20250930__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zGlbi9g9RjVh" title="Warrants outstanding weighted average exercise price">411.74. <p id="xdx_891_ecustom--ScheduleOfStockholdersEquityNoteWarrantsOrRightsActivityTextBlock_zJO78oRzz7M4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7pt; text-align: justify; text-indent: 0in">The following table shows the warrant activity from January 1, 2025 through September 30, 2025 (in thousands): SCHEDULE OF WARRANTS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding January 1, 2025</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Granted</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercised</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding September 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zkCdktUaKsc8" style="width: 12%; text-align: right" title="Warrants outstanding, beginning balance">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zTnMP1RZw6R4" style="width: 12%; text-align: right" title="Warrants, Granted">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zghpG6SMubAd" style="width: 12%; text-align: right" title="Warrants, Exercised">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_z1reefRWDSga" style="width: 12%; text-align: right" title="Warrants outstanding, ending balance">23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zDCww8FefOTk" style="text-align: right" title="Warrants outstanding, beginning balance">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zwEFU8dW4fGl" style="text-align: right" title="Warrants, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zNUDpU38FvPb" style="text-align: right" title="Warrants, Exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_ztBgYrPiqhmk" style="text-align: right" title="Warrants outstanding, ending balance">9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zauhwChquQL2" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, beginning balance">125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zJitjXciVrej" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Granted">656</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_z7i6GTA4iJBb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Exercised">398</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zy3meF8En4qi" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">383</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930_zkn1XCgiUny6" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Beginning balance">157</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930_zY5DUjPve3bl" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, Granted">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930_zf6JUJVam2W" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, Exercised">398</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930_z0y0a9LBYU78" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stock Repurchase Program In November 2024, the Company’s Board of Directors authorized a stock repurchase program (the “Repurchase Program”) of up to $1.0 million of the Company’s outstanding common stock. Under the Repurchase Program, the repurchases may be made by the Company from time to time through open-market purchases, privately negotiated transactions or other means in accordance with applicable securities laws. The timing and amount of repurchases will be determined by the Company, taking into consideration market conditions, stock price, and other factors. The Repurchase Program does not have a set expiration date and may be suspended, modified or discontinued at any time without prior notice. The Company did not repurchase any of its shares under the Repurchase Program during the three and nine months ended September 30, 2025.

9000000

0.50

28400000

15.00

0.10

10100000

19400000

9300000

32000000.0

1890000

16.95

21900000

32000000.0

21900000

16.95

11200000

800000

101000

11.25

11.175

600000

21900000

22400000

4621000

1.569

1.494

0.075

4.99% or 9.99% 5300000 5300000

During the nine months ended September 30, 2025, the Company sold the following shares of common stock and pre-funded warrants under the 2025 SPA (in thousands): SCHEDULE OF COMMON STOCK AND PRE-FUNDED WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Pre-funded Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross Proceeds</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: center">April 2, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,090</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">June 9, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,182</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,921</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">June 27, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,201</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

662000

34000

1090000

3182000

622000

5921000

121000

190000

3965000

656000

7201000

0.1999 -5800000 5800000

<p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zWYZNggXnund" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in">As of September 30, 2025, the Company had the following warrants outstanding: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants Outstanding (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expiration Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Classification</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zIFHnHrDeoKe" style="width: 12%; text-align: right" title="Warrants Outstanding">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zb2B8ccAX7rc" style="width: 12%; text-align: right" title="Exercise Price">572.98</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">03/09/22</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">09/09/27</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">Liability</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zKPJBFDVUxWl" style="text-align: right" title="Warrants Outstanding">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zk4fcL5V1Jm" style="text-align: right" title="Exercise Price">21.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90A_ecustom--WarrantsAndRightsOutstandingIssuanceDate_dd_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z7wrCwiI6Zjc" title="Issuance Date">12/02/22</td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z4cKnggJXcX5" title="Expiration Date">06/02/28</td><td> </td> <td style="text-align: center"><span id="xdx_906_ecustom--ClassOfWarrantOrRightClassification_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_z5WqQ6DuncOi" title="Classification">Equity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsOneMember_zs4yHunOsgu4" style="text-align: right" title="Warrants Outstanding">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsOneMember_zvZ25XxqQ3Eh" style="text-align: right" title="Exercise Price">0.075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">10/29/24</td><td> </td> <td style="text-align: center">None</td><td> </td> <td style="text-align: center">Equity</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsTwoMember_zYZwSumvrTL2" style="text-align: right" title="Warrants Outstanding">34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsTwoMember_z1Tj5NVqhxma" style="text-align: right" title="Exercise Price">0.075</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">04/02/25</td><td> </td> <td style="text-align: center">None</td><td> </td> <td style="text-align: center">Equity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsThreeMember_zQTzGyI2aDc5" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Outstanding">274</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsThreeMember_zdUuoJ0u5tWi" style="padding-bottom: 1pt; text-align: right" title="Exercise Price">0.075</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">06/09/25</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">None</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Equity</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn3n3_c20250930_zfgm6cu0z2E7" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Outstanding">415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

23000

572.98

2022-03-09

2027-09-09

Liability

9000

21.45

2022-12-02

2028-06-02

Equity

75000

0.075

2024-10-29 Equity

34000

0.075

2025-04-02 Equity

274000

0.075

2025-06-09 Equity

415000

P2Y1M28D

411.74

<p id="xdx_891_ecustom--ScheduleOfStockholdersEquityNoteWarrantsOrRightsActivityTextBlock_zJO78oRzz7M4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7pt; text-align: justify; text-indent: 0in">The following table shows the warrant activity from January 1, 2025 through September 30, 2025 (in thousands): SCHEDULE OF WARRANTS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding January 1, 2025</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Granted</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercised</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Outstanding September 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Q1-22 Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zkCdktUaKsc8" style="width: 12%; text-align: right" title="Warrants outstanding, beginning balance">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zTnMP1RZw6R4" style="width: 12%; text-align: right" title="Warrants, Granted">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_zghpG6SMubAd" style="width: 12%; text-align: right" title="Warrants, Exercised">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--CommonWarrantsMember_z1reefRWDSga" style="width: 12%; text-align: right" title="Warrants outstanding, ending balance">23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>December 2022 Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zDCww8FefOTk" style="text-align: right" title="Warrants outstanding, beginning balance">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zwEFU8dW4fGl" style="text-align: right" title="Warrants, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_zNUDpU38FvPb" style="text-align: right" title="Warrants, Exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--DecemberTwoThousandTwentyTwoWarrantsMember_ztBgYrPiqhmk" style="text-align: right" title="Warrants outstanding, ending balance">9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zauhwChquQL2" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, beginning balance">125</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zJitjXciVrej" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Granted">656</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_z7i6GTA4iJBb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Exercised">398</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zy3meF8En4qi" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">383</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20250101__20250930_zkn1XCgiUny6" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, Beginning balance">157</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pn3n3_c20250101__20250930_zY5DUjPve3bl" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, Granted">656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pn3n3_c20250101__20250930_zf6JUJVam2W" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants, Exercised">398</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20250101__20250930_z0y0a9LBYU78" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

23000

9000

125000

656000

398000

383000

157000

656000

398000

415000

1000000.0

13) RELATED PARTY TRANSACTIONS September 2024 and March 2025 Financings Investors who participated in the September 2024 Transactions and in the 2025 SPA in March 2025 that are discussed in Note 12 included Charles Cherington. Mr. Cherington participated in the applicable financing under the same terms and subject to the same conditions as all the other investors. Mr. Cherington served on the Company’s board of directors from March 2021 to July 6, 2023 and currently owns approximately <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrCheringtonMember_zNfcqFRtUe5f" title="Common stock ownership percentage">37% of the Company’s outstanding common stock. March 2025 Promissory Notes On March 11, 2025, the Company received $<span id="xdx_90C_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteOneMember_zGhNbRe5FRg3" title="Convertible notes, net">1.5 million for the issuance of a promissory note in the principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250311__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteOneMember_zMqh9Fr0Zgld" title="Aggregate principal amount">1.5 million to Mr. Cherington, and on March 21, 2025 the Company received $<span id="xdx_909_eus-gaap--ConvertibleLongTermNotesPayable_iI_pn5n6_c20250321__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteTwoMember_zluGJNsbAo22" title="Convertible notes, net">0.8 million for the issuance of a second promissory note in the principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250321__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteTwoMember_zpvmQhvzO1Ak" title="Aggregate principal amount">0.8 million to Mr. Cherington. The promissory notes had a maturity date of the earlier of (i) June 15, 2025 or (ii) upon us receiving $5 million in gross proceeds from a subsequent capital raise. Each of the promissory notes accrued interest at a rate of 5.0% per annum, payable at maturity. Upon issuance of the notes, Mr. Cherington owned approximately <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250311__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrCheringtonMember_zloCLzbpz0Y" title="Common stock ownership percentage">32% of our outstanding common stock and currently owns approximately <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrCheringtonMember_zwXKQV733aKb" title="Common stock ownership percentage">37% of our outstanding common stock. As a result of completing the private placement discussed in Note 12, the Company repaid the outstanding principal plus accrued interest on the notes in full in the aggregate amount of $2.3 million, and as of September 30, 2025, there were no outstanding balances on the notes.

0.37

1500000

800000

2025-06-15

5000000

0.050

0.32

0.37

2300000

14) SEGMENT REPORTING The Company operates within a single reportable operating segment, the research and development of cellular therapies. The Company has identified its president and chief executive officer as its chief operating decision maker (“CODM”), who regularly reviews the Company’s performance and allocates resources based on information reported at the consolidated entity level. The CODM uses consolidated net loss as a measure of profit and loss and assesses Company performance through the achievement of its business strategy goals. The CODM is regularly provided with forecasted expense information that is used to determine the Company’s liquidity needs and cash allocation to execute its business strategy, and he uses cash as a measure of segment assets in managing the Company. The Company operates in the United States, and all of its assets are located in the United States. The table below provides a breakdown of the Company’s significant operating expenses for the three and nine months ended September 30, 2025 and 2024 with a reconciliation to net loss for each of those periods. The Company’s revenue and its cost of revenues for the three and nine months ended September 30, 2024 relate to a contract with a customer, as discussed in Note 3. There was no revenue or cost of revenue for the three and nine months ended September 30, 2025. Depreciation and amortization expense less than $0.1 million for each of the three months ended September 30, 2025 and 2024. For each of the nine months ended September 30, 2025 and 2024, depreciation and amortization expense was approximately $0.1 million. During the three months ended September 30, 2025, the Company recognized $0.7 million of other income, net, primarily related to $0.7 million of a gain on extinguishment of debt from time-barred liabilities, as discussed more fully in Note 6. During the nine months ended September 30, 2025, the Company recognized $5.3 million of other expense, net, primarily related to the forward sales contract expense of $5.8 million discussed in Note 12, offset by the $0.7 million gain on extinguishment of debt for the time-barred liabilities. During the three and nine months ended September 30, 2024, the Company recognized $24.3 million and $25.8 million in other expense, net, respectively, primarily related to the $22.4 million loss on extinguishment of debt and $1 million expense for the fair value adjustments to the Bridge Notes derivable liability discussed in Note 12 in each of the three and nine months ended September 30, 2024, as well as interest expense of $1.7 million and $3.3 million, respectively, offset by income related to a change in fair value of warrant liabilities of approximately $0.1 million for each of the three and nine months ended September 30, 2024. SCHEDULE OF BREAKDOWN OF SIGNIFICANT OPERATING EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20250930_z0uinBa4Onel" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240701__20240930_zExRqCuItoyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250930_zSNUDeBjNVtg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20240930_zDEbGyWtzwD8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_pn3n3_maGPzgFY_zdvC8YFkE0z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">487</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CostOfRevenues_pn3n3_msGPzgFY_zGmDh48Gd6k2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">96</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GrossProfit_iT_pn3n3_mtGPzgFY_maOILzcdR_zfBTuuACtGR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">485</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpensesAbstract_iB_zgTvUPHAxQBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i01B_zttVXWUGoTog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--MSALicenseFeesMember_z4q5ojSEpGWh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">MSA/license fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,810</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StudyFeesMember_zRosaT821Lsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Study fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zo01HFHeKjGb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zCa8NkFhW1xk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">518</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zUGWH9s8kYq2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other1</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">109</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">242</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_maOEzGOO_zY5Cx5mUu5Mg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Research and development</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,480</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,446</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpenseAbstract_i01B_zmhhXwmNPom9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StockBasedCompensationMember_zFz98UTTyWCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,036</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_ziKIaRTpMgI5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">313</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">367</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,234</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zMTUK9Lgeuw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,409</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OccupancyExpenseMember_zPEUm7xWyIGc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Occupancy expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,068</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zJCYlo3Iuica" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other2</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">230</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">426</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">845</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_maOEzGOO_zVXcpIZslQTh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,745</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,592</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GainLossOnTerminationOfLease_i01N_pn3n3_di_msOEzGOO_z7y5VfYnwYZc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Gain on lease termination</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,576</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,576</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOO_msOILzcdR_zWUXQclNE3J3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,993</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,806</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,462</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingIncomeLoss_i01T_pn3n3_mtOILzcdR_maILFCOzCb1_z7vtrlMRlu1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,993</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,259</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,225</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12,977</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NonoperatingIncomeExpenseAbstract_i01B_zED2rQSgvmsh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ForwardSalesContractExpense_i01_maNIEzVJd_zkaD60KGhTWc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forward sales contract expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,847</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_maNIEzVJd_zTsIDlSxczP" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain (loss) on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,440</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,440</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--FairValueAdjustmentsToBridgeNotesDerivativeLiability_maNIEzVJd_z5FUS4MaSX9j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Fair value adjustments to bridge notes derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,038</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,038</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--FairValueAdjustmentOfWarrants_i01N_di_msNIEzVJd_z3hUQ2aYM281" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">897</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ChangeInFairValueOfContingentConsideration_i01_maNIEzVJd_zzIUxvmBHFO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in fair value of contingent consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestIncomeExpenseNonoperatingNet_i01_maNIEzVJd_zdCvWwJnFvs2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,686</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,269</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--OtherNonoperatingIncomeExpense_i01_maNIEzVJd_zpCz6Hjlzi6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other expense, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(264</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NonoperatingIncomeExpense_i01T_maILFCOzCb1_mtNIEzVJd_zAJeeE9u20v8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Total other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">759</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(24,333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,340</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,784</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_maNILzLOg_mtILFCOzCb1_zCTJcE0ari9i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,234</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,592</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,565</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,761</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_i01N_pn3n3_di_msNILzLOg_zTFdPF7o3cCl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Provision for income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILzLOg_z5VupgvCbZN" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,240</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(26,604</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(12,582</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(38,780</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; padding-bottom: 2.5pt">Cash</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--Cash_iI_pn3n3_c20250930_zZ81KEbbibbg" style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">3,047</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--Cash_iI_pn3n3_c20241231_zz0qlnlPYSla" style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">1,729</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="text-align: justify">Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="text-align: justify">Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses.</td> </tr></table>

100000

700000

5300000

-5800000

700000

24300000

25800000

-22400000

1000000 1000000

1700000

3300000

100000

SCHEDULE OF BREAKDOWN OF SIGNIFICANT OPERATING EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20250930_z0uinBa4Onel" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240701__20240930_zExRqCuItoyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250930_zSNUDeBjNVtg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240101__20240930_zDEbGyWtzwD8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_pn3n3_maGPzgFY_zdvC8YFkE0z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">487</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CostOfRevenues_pn3n3_msGPzgFY_zGmDh48Gd6k2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cost of revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">96</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GrossProfit_iT_pn3n3_mtGPzgFY_maOILzcdR_zfBTuuACtGR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">485</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpensesAbstract_iB_zgTvUPHAxQBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i01B_zttVXWUGoTog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--MSALicenseFeesMember_z4q5ojSEpGWh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">MSA/license fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,810</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StudyFeesMember_zRosaT821Lsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Study fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zo01HFHeKjGb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_zCa8NkFhW1xk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">518</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zUGWH9s8kYq2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other1</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">109</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">242</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost_i02_pn3n3_maOEzGOO_zY5Cx5mUu5Mg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Research and development</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,480</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,446</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpenseAbstract_i01B_zmhhXwmNPom9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative by significant expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--StockBasedCompensationMember_zFz98UTTyWCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,036</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--PayrollAndRelatedMember_ziKIaRTpMgI5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Payroll and related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">313</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">367</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,234</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--ProfessionalFeesMember_zMTUK9Lgeuw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,409</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OccupancyExpenseMember_zPEUm7xWyIGc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Occupancy expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,068</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_hus-gaap--IncomeStatementLocationAxis__custom--OtherMember_zJCYlo3Iuica" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other2</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">230</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">426</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">845</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_i02_pn3n3_maOEzGOO_zVXcpIZslQTh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,745</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,592</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GainLossOnTerminationOfLease_i01N_pn3n3_di_msOEzGOO_z7y5VfYnwYZc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Gain on lease termination</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,576</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,576</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOO_msOILzcdR_zWUXQclNE3J3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,993</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,806</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,462</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingIncomeLoss_i01T_pn3n3_mtOILzcdR_maILFCOzCb1_z7vtrlMRlu1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,993</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,259</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,225</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12,977</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NonoperatingIncomeExpenseAbstract_i01B_zED2rQSgvmsh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ForwardSalesContractExpense_i01_maNIEzVJd_zkaD60KGhTWc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forward sales contract expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,847</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i01_maNIEzVJd_zTsIDlSxczP" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain (loss) on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,440</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,440</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--FairValueAdjustmentsToBridgeNotesDerivativeLiability_maNIEzVJd_z5FUS4MaSX9j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Fair value adjustments to bridge notes derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,038</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,038</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--FairValueAdjustmentOfWarrants_i01N_di_msNIEzVJd_z3hUQ2aYM281" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">897</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ChangeInFairValueOfContingentConsideration_i01_maNIEzVJd_zzIUxvmBHFO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in fair value of contingent consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestIncomeExpenseNonoperatingNet_i01_maNIEzVJd_zdCvWwJnFvs2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,686</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,269</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--OtherNonoperatingIncomeExpense_i01_maNIEzVJd_zpCz6Hjlzi6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other expense, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(264</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NonoperatingIncomeExpense_i01T_maILFCOzCb1_mtNIEzVJd_zAJeeE9u20v8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Total other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">759</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(24,333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,340</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,784</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01T_pn3n3_maNILzLOg_mtILFCOzCb1_zCTJcE0ari9i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,234</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,592</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,565</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,761</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_i01N_pn3n3_di_msNILzLOg_zTFdPF7o3cCl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Provision for income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILzLOg_z5VupgvCbZN" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,240</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(26,604</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(12,582</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(38,780</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; padding-bottom: 2.5pt">Cash</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--Cash_iI_pn3n3_c20250930_zZ81KEbbibbg" style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">3,047</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--Cash_iI_pn3n3_c20241231_zz0qlnlPYSla" style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">1,729</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="text-align: justify">Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">2</td><td style="text-align: justify">Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses.</td> </tr></table>

487000

581000

-60000 96000

547000

485000

510000

767000

1810000

2392000

60000

48000

472000

200000

233000

64000

591000

152000

123000

71000

365000

518000

109000

51000

242000

184000

1035000

1001000

3480000

3446000

284000

392000

1123000

1036000

313000

367000

1134000

1234000

215000

1125000

1041000

3409000

6000

1267000

21000

5068000

140000

230000

426000

845000

958000

3381000

3745000

11592000

1576000

1993000

2806000

7225000

13462000

-1993000

-2259000

-7225000

-12977000

-5847000

734000

-22440000

734000

-22440000

-1038000 -1038000

-831000

-1000

-897000

66000

31000

-1686000

36000

-3269000

-6000

-264000

759000

-24333000

-5340000

-25784000

-1234000

-26592000

-12565000

-38761000

6000

12000

17000

19000

-1240000

-26604000

-12582000

-38780000

3047000

1729000

15) RECENT ACCOUNTING PRONOUNCEMENTS In December 2023, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU is intended to improve disclosures about a public business entity’s expenses by requiring disaggregated disclosure, in the notes to the financial statements, of prescribed categories of expenses within relevant income statement captions. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 (as clarified in ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date). Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements. In September 2025, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages and instead requires capitalization when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended have both occurred. The amendments in ASU No. 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim reporting periods, with early adoption permitted. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements.

In December 2023, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

true

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40). This ASU is intended to improve disclosures about a public business entity’s expenses by requiring disaggregated disclosure, in the notes to the financial statements, of prescribed categories of expenses within relevant income statement captions. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 (as clarified in ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date). Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

true

In September 2025, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages and instead requires capitalization when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended have both occurred. The amendments in ASU No. 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim reporting periods, with early adoption permitted. The Company does not expect the amendments in this ASU to have a material impact on its consolidated financial statements.

true

Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation. Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses. Other includes certain lab supply expenses, amounts related to the close out of a former clinical trial, allocated occupancy costs, stock-based compensation, and depreciation. Other includes expenses related to insurance, information technology, travel, banking, depreciation and other miscellaneous expenses.