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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Research and development $ 1,897 $ 1,968 $ 6,349 $ 14,084
General and administrative 1,855 2,773 5,477 6,514
Loss on impairment of intangible assets 16,130 0 16,130 0
Total operating expenses 19,882 4,741 27,956 20,598
Operating loss (19,882) (4,741) (27,956) (20,598)
Loss on debt issuances (14,965) 0 (22,402) 0
Gain on debt extinguishment, net 0 71 52 14,591
Loss on deposit settlement (650) 0 (650) 0
Change in fair value of convertible notes payable 2,684 0 3,473 0
Change in fair value of common stock warrant liability 50 2,166 292 2,166
Change in fair value of derivative liabilities 613 0 801 33
Interest income 758 12 963 62
Interest expense (328) (51) (427) (174)
Other income (expense), net 204 (446) (338) (563)
Total other (expense) income, net (11,634) 1,752 (18,236) 16,115
Loss before income taxes (31,516) (2,989) (46,192) (4,483)
Income tax benefit (expense) 3,431 240 3,431 (71)
Net loss (28,085) (2,749) (42,761) (4,554)
Extinguishment of Series B preferred stock 0 572 0 572
Deemed dividends on warrants 0 0 (9) 0
Net loss attributable to common stockholders $ (28,938) $ (3,750) $ (48,899) $ (5,555)
Net loss per share attributable to common stockholders        
Basic and diluted (in dollars per share) $ (1.08) $ (211.38) $ (4.46) $ (431.89)
Weighted average number of common shares outstanding        
Basic and diluted (in shares) 26,675,559 17,740 10,974,186 12,862
Series C Preferred Stock [Member]        
Dividends on preferred stock $ (650) $ (1,573) $ (5,789) $ (1,573)
Series D Preferred Stock [Member]        
Dividends on preferred stock $ (203) $ 0 $ (340) $ 0