v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (3,521,000) $ (2,420,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 317,000 288,000
Non-cash lease expense 23,000 22,000
Change in fair value of common warrants classified as a liability 97,000 (584,000)
Depreciation expenses 1,000 1,000
Changes in operating assets and liabilities:    
Accounts receivable (141,000) (199,000)
Inventory (190,000) 0
Prepaid expenses (177,000) (149,000)
Other current assets 19,000 (141,000)
Accounts payable 254,000 381,000
Accrued expenses (391,000) (580,000)
Net cash used in operating activities (3,709,000) (3,381,000)
Cash flows from investing activities:    
Purchase of property and equipment 0 (2,000)
Net cash used in investing activities (0) (2,000)
Cash flows from financing activities    
Proceeds from common stock and pre-funded common stock warrants 10,000,000 12,102,000
Issuance cost of common stock upon private placement (953,000) (1,299,000)
Proceeds from exercise of stock options 0 8,000
Net cash provided by financing activities 9,047,000 10,811,000
Net increase in cash and cash equivalents 5,338,000 7,428,000
Cash and cash equivalents:    
Beginning of period 7,024,000 7,154,000
End of period 12,362,000 14,582,000
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 0 1,000
Cash paid for interest 0 5,000
Supplemental disclosure of non-cash investing activities    
Purchase of property and equipment $ 66,000 $ 0

Source

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