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

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (25,468,000) $ (25,430,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation 477,000 1,060,000
Change in fair value of warrants 0 (686,000)
Depreciation of property and equipment 22,000 32,000
Loss on disposal of property and equipment 0 76,000
Noncash operating lease expense 396,000 372,000
Interest on lease liabilities 34,000 64,000
Interest on loan payable to related party 843,000 18,000
Change in operating assets and liabilities:    
Prepaid expenses 44,000 (211,000)
Other assets (2,958,000) 30,000
Change in operating lease liability (462,000) (458,000)
Accounts payable 1,653,000 (2,234,000)
Accounts payable, related party 0 (2,554,000)
Accrued liabilities 3,429,000 (6,056,000)
Cash used in operating activities (21,990,000) (35,977,000)
Cash flows from investing activities:    
Proceeds from disposal of property and equipment 0 23,000
Purchase of property and equipment 0 (5,000)
Cash provided by investing activities 0 18,000
Cash flows from financing activities:    
Proceeds from loan payable with related parties 18,650,000 10,000,000
Repayment of loan with related party (100,000) 0
Cash provided by financing activities 19,379,000 33,414,000
Decrease in cash, cash equivalents, restricted cash and restricted cash equivalent (2,611,000) (2,545,000)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year 6,707,000 9,252,000
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of the year 4,096,000 6,707,000
Cash and cash equivalents 935,000 6,152,000
Restricted cash and restricted cash equivalents 3,161,000 555,000
Total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows 4,096,000 6,707,000
November 2024 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 0 6,920,000
June 2024 Registered Direct Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 0 4,024,000
June 2024 Pre-funded Warrants [Member]    
Cash flows from financing activities:    
Proceeds from warrant exercise 0 2,000
January 2024 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 0 8,127,000
Hanmi Private Placement [Member]    
Cash flows from financing activities:    
Issuance of common shares and warrants 0 3,701,000
2023 Committed Equity Facility [Member]    
Cash flows from financing activities:    
Issuance of common shares 0 635,000
The 2022 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 0 (21,000)
The 2025 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 828,000 0
ESPP [Member]    
Cash flows from financing activities:    
Issuance of common shares $ 1,000 $ 26,000