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

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash $ 9,860,000 $ 26,353,000
Restricted cash 75,000 75,000
Tax credit receivable 1,215,000 890,000
Prepaid expenses and other current assets 430,000 1,773,000
Total current assets 11,580,000 29,091,000
Property and equipment, net 153,000 271,000
Deposits 29,000 46,000
Operating lease right-of-use assets, net (including $152 and $42 to related party) 1,694,000 1,851,000
Total assets 13,456,000 31,259,000
Current liabilities:    
Accounts payable and accrued expenses 2,127,000 3,022,000
Current maturities of operating lease liabilities (including $49 and $42 to related party) 301,000 240,000
Total current liabilities 2,428,000 3,262,000
Long-term liabilities:    
Operating lease liabilities (including $104 and $0 to related party) 1,505,000 1,613,000
Total long-term liabilities 1,505,000 1,613,000
Total liabilities 3,933,000 4,875,000
Commitments and contingencies
Stockholders’ equity:    
Common stock $0.001 par value; 100,000 and 150,000 shares authorized as of December 31, 2024 and 2023, respectively; 10,174 shares issued and outstanding as of December 31, 2024 and 2023, respectively 10,000 10,000
Additional paid-in capital 342,931,000 342,288,000
Accumulated deficit (333,418,000) (315,914,000)
Total stockholders’ equity 9,523,000 26,384,000
Total liabilities and stockholders’ equity $ 13,456,000 $ 31,259,000