v3.25.0.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (16,268) $ (10,538)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of discount on convertible notes 0 159
Change in carrying value of right-of-use asset 25 147
Stock-based compensation expense 3,073 1,398
Stock issued in exchange for services 51 0
Loss on debt extinguishment 0 2,262
Changes in operating assets and liabilities, net:    
Accrued interest on marketable debt securities (134) (197)
Prepaid expenses, other current assets, and other assets 301 (2,067)
Accounts payable, accrued expenses and other liabilities (2,268) 1,631
Net cash used in operating activities (15,220) (7,205)
Cash flows from investing activities:    
Purchase of marketable debt securities (3,056) (15,053)
Redemption of marketable debt securities 9,410 9,030
Net cash provided by (used in) investing activities 6,354 (6,023)
Cash flows from financing activities:    
Proceeds from Initial Public Offering and overallotment 0 22,425
Issuance costs related to Initial Public Offering and overallotment 0 (2,233)
Proceeds from issuance of convertible note 0 230
Proceeds from exercise of options and warrants 321 50
Net cash provided by financing activities 2,900 20,472
Net (decrease) increase in cash and cash equivalents (5,966) 7,244
Cash and cash equivalents at beginning of period 2,590 8,556
Cash and cash equivalents at end of period 8,556 1,312
Supplemental disclosure of non-cash financing activities:    
Right-of-use lease asset and operating lease liability 0 155
Convertible notes issued in exchange for services 0 13
Conversion of convertible notes and accrued interest into common stock 0 4,737
Warrants issued in relation to issuance of convertible notes 0 159
Warrants issued to underwriter in connection with stock issuance 1,068 1,170
Preferred stock deemed dividend 0 1,324
Registered Direct Offering    
Cash flows from financing activities:    
Proceeds from Registered Direct Offering and Proceeds from ATM offering 3,000 0
Issuance costs related to Registered Direct Offering and Issuance costs related to ATM offering (571) 0
ATM Offering    
Cash flows from financing activities:    
Proceeds from Registered Direct Offering and Proceeds from ATM offering 232 0
Issuance costs related to Registered Direct Offering and Issuance costs related to ATM offering $ (82) $ 0

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