Annual report [Section 13 and 15(d), not S-K Item 405]

BALANCE SHEETS

v3.26.1
BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 17,266 $ 6,839
Other receivables 217 402
Prepaid expenses and other current assets 110 200
Property, plant and equipment, held for sale 0 1,165
Total current assets 17,593 8,606
Property, plant and equipment, net 0 371
Other assets 0 250
Operating lease right-of-use asset, net 0 81
Total Assets 17,593 9,308
Current Liabilities:    
Accounts payable and accrued expenses 5,411 9,486
Payables and accrued expenses - related party $ 2,503 $ 2,667
Other Liability, Current, Related Party [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Operating lease liabilities - short-term $ 0 $ 456
Total current liabilities 7,914 12,609
Deferred income 150 150
Operating lease liabilities - long-term 0 422
Total Liabilities 8,064 13,181
Commitments and Contingencies (Note 7)
Stockholders' Equity (Deficit)    
Preferred stock ($0.0001 par value), 2,000,000 shares authorized, 250,000 shares of Class A preferred stock issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 0 0
Common stock issuable, 278,385 and 69,046 shares as of December 31, 2025 and December 31, 2024, respectively 273 611
Additional paid-in capital 407,899 392,234
Accumulated deficit (398,644) (396,723)
Total Stockholders' Equity (Deficit) 9,529 (3,873)
Total Liabilities and Stockholders' Equity (Deficit) 17,593 9,308
Class A common shares    
Stockholders' Equity (Deficit)    
Common stock 0 0
Common shares    
Stockholders' Equity (Deficit)    
Common stock $ 1 $ 5