Financials

v3.25.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 1,945 $ 2,831
Related party receivable 81 62
Prepaid expenses and other current assets 130 30
Total current assets 2,156 2,923
Total assets 2,156 2,923
Current liabilities:    
Accounts payable 194 202
Other accrued liabilities 85 281
Total current liabilities 279 483
Total liabilities 279 483
Stockholders’ equity:    
Preferred stock, at amounts paid in, $0.001 par value per share; 5,000,000 shares authorized, 950,000 shares issued and outstanding at March 31, 2025 and December 31, 2024. 1 1
Common stock, at amounts paid in, $0.001 par value per share; 225,000,000 shares authorized, 914,234 shares issued and outstanding at March 31, 2025 and December 31, 2024. 1 1
Additional paid-in capital 398,974 398,974
Accumulated deficit (397,099) (396,536)
Total stockholders’ equity 1,877 2,440
Total liabilities and stockholders’ equity $ 2,156 $ 2,923

Source

v3.25.1
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating expenses:    
General and administrative $ 534 $ 1,063
Total operating expenses 534 1,063
Loss from operations (534) (1,063)
Other income (expense):    
Interest income, net 1
Other income (expense), net (29) 2
Other income (expense), net (29) 3
Net loss $ (563) $ (1,060)
Basic net loss per common share $ (0.62) $ (1.24)
Diluted net loss per common share $ (0.62) $ (1.24)
Weighted average shares used in computing basic net loss per common share 914 853
Weighted average shares used in computing diluted net loss per common share 914 853

Source

v3.25.1
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (563) $ (1,060)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2
Other (1)
Changes in operating assets and liabilities:    
Notes receivable 1,000
Receivables (87)
Prepaid expenses and other assets (100) (119)
Accounts payable (9) 22
Deferred grant revenue (12)
Other accrued liabilities (195) (358)
Net cash used in operating activities (867) (613)
Cash flows from financing activity:    
Payments on behalf of related party (19)
Net cash used in financing activity (19)
Net decrease in cash (886) (613)
Cash at beginning of period 2,831 6,772
Cash at end of period 1,945 6,159
Supplemental cash flow information:    
Interest paid 13
Supplemental non-cash flow information:    
Note payable to related party converted to common stock 500
Accrued interest net of tax converted to common stock $ 5

Source