Financials

v3.24.2.u1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 4,092 $ 6,760
Restricted cash 13
Receivables 38 46
Notes receivable 1,000
Prepaid expenses and other current assets 220 199
Total current assets 4,350 8,018
Property and equipment, net 5
Operating lease right-of-use assets, net 63
Total assets 4,350 8,086
Current liabilities:    
Accounts payable 356 348
Note payable to related party 500
Other accrued liabilities 519
Operating lease liability, current 65
Deferred grant revenue 12
Total current liabilities 356 1,444
Total liabilities 356 1,444
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 June 30, 2024 and December 31, 2023. 1 1
Common stock, at amounts paid-in, $0.001 par value per share; 225,000,000 shares authorized, 914,234 and 781,503 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. 1 1
Additional paid-in capital 398,975 398,470
Accumulated deficit (394,983) (391,830)
Total stockholders’ equity 3,994 6,642
Total liabilities and stockholders’ equity $ 4,350 $ 8,086

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v3.24.2.u1
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 83 $ 181
Operating expenses:        
Research and development 442 1,003
General and administrative 2,074 1,229 3,137 2,463
Total operating expenses 2,074 1,671 3,137 3,466
Loss from operations (2,074) (1,588) (3,137) (3,285)
Other income (expense):        
Interest income 7 1 29
Other expense, net (19) (5) (17) (5)
Other income (expense), net (19) 2 (16) 24
Net loss $ (2,093) $ (1,586) $ (3,153) $ (3,261)
Basic net loss per common share $ (2.29) $ (2.11) $ (3.57) $ (4.34)
Diluted net loss per common share $ (2.29) $ (2.11) $ (3.57) $ (4.34)
Weighted average shares used in computing basic net loss per common share 914 751 884 751
Weighted average shares used in computing diluted net loss per common share 914 751 884 751
License [Member]        
Revenues:        
Total revenues $ 1 $ 1
Grant [Member]        
Revenues:        
Total revenues $ 82 $ 180

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v3.24.2.u1
CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (3,153) $ (3,261)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5 82
Stock-based compensation 554
Other (2)
Changes in operating assets and liabilities:    
Receivables 8 18
Notes receivable 1,000
Prepaid expenses and other assets (21) 76
Accounts payable 8 (37)
Deferred grant revenue (12) (180)
Other accrued liabilities (514) (263)
Net cash used in operating activities (2,681) (3,011)
Net decrease in cash, cash equivalents and restricted cash (2,681) (3,011)
Cash, cash equivalents and restricted cash at beginning of period 6,773 3,133
Cash, cash equivalents and restricted cash at end of period 4,092 122
Supplemental cash flow information:    
Interest paid 13
Note payable to related party converted to common stock 500
Accrued interest net of tax converted to common stock 5
Disposal of fully depreciated property and equipment 711
Reclassification of inventory to assets held for sale 105
Reclassification of property and equipment, net to assets held for sale 133
Reclassification of accrued liabilities to liabilities held for sale 236
Cash and cash equivalents 4,092 105
Restricted cash 17
Cash, cash equivalents and restricted cash shown in the condensed statements of cash flows $ 4,092 $ 122

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