v3.25.1
STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:    
Net loss $ (56,240) $ (51,847)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 15,252 2,897
Issuance of common shares - Founders Agreement 995 952
Common shares issuable - Founders Agreement 7,638 3,419
Loss (gain) on common stock warrant liabilities 73 (217)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (417) 699
Other receivables - related party   73
Accounts payable and accrued expenses 1,980 (5,075)
Accounts payable and accrued expenses - related party (382) 1,509
Net cash used in operating activities (31,101) (47,590)
Cash Flows from Financing Activities:    
Issuance of common shares - Registered direct offerings 26,000 33,621
Payment of offering costs for the issuance of common shares - Registered direct offerings (2,408) (3,289)
Cash received for exercise of warrants 9,185 11,134
Payment of transactional costs for exercise of warrants   (1,016)
Net cash provided by financing activities 32,777 40,450
Net increase (decrease) in cash and cash equivalents 1,676 (7,140)
Cash and cash equivalents at beginning of period 4,928 12,068
Cash and cash equivalents at end of period 6,604 4,928
Supplemental disclosure of noncash investing and financing activities:    
Issuance of common shares - Founders Agreement $ 3,419 1,885
Issuance of common shares - Registered direct offerings (offering costs incurred but not paid)   207
Warrant inducement (transactional costs incurred but not paid)   $ 56

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