Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 13,020,000 $ 26,353,000
Restricted cash 75,000 75,000
Tax credit receivable 652,000 890,000
Prepaid expenses and other current assets 509,000 1,773,000
Total current assets 14,256,000 29,091,000
Property and equipment, net 181,000 271,000
Deposits 29,000 46,000
Operating lease right-of-use assets, net (including $163 and $42 respectively, to related party) 1,767,000 1,851,000
Total assets 16,233,000 31,259,000
Current liabilities:    
Accounts payable and accrued expenses 1,655,000 3,022,000
Current maturities of operating lease liabilities (including $55 and $42 respectively, to related party) 293,000 240,000
Total current liabilities 1,948,000 3,262,000
Long-term liabilities:    
Operating lease liabilities (including $163 and $0 respectively, to related party) 1,582,000 1,613,000
Total liabilities 3,530,000 4,875,000
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Common stock, $0.001 par value 100,000 and 150,000 shares authorized as of September 30, 2024, and December 31, 2023; 10,174 shares issued and outstanding as of September 30, 2024 and December 31, 2023 10,000 10,000
Additional paid-in capital 342,845,000 342,288,000
Accumulated deficit (330,152,000) (315,914,000)
Total stockholders’ equity 12,703,000 26,384,000
Total liabilities and stockholders’ equity $ 16,233,000 $ 31,259,000