Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 6,921,000 $ 9,860,000
Restricted cash 75,000 75,000
Tax credit receivable 1,445,000 1,215,000
Prepaid expenses and other current assets 385,000 430,000
Total current assets 8,826,000 11,580,000
Property and equipment, net 127,000 153,000
Deposits 86,000 29,000
Operating lease right-of-use assets, net (including $140 and $152 to related party) 1,620,000 1,694,000
Total assets 10,659,000 13,456,000
Current liabilities:    
Accounts payable and accrued expenses 1,622,000 2,127,000
Current maturities of operating lease liabilities (including $51 and $49 to related party) 309,000 301,000
Total current liabilities 1,931,000 2,428,000
Long-term liabilities:    
Operating lease liabilities (including $90 and $104 to related party) 1,424,000 1,505,000
Total long-term liabilities 1,424,000 1,505,000
Total liabilities 3,355,000 3,933,000
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 a par value: 100,000 shares authorized as of March 31, 2025 and December 31, 2024; 10,174 shares issued and outstanding as of March 31, 2025 and December 31, 2024 10,000 10,000
Additional paid-in capital 343,013,000 342,931,000
Accumulated deficit (335,719,000) (333,418,000)
Total stockholders’ equity 7,304,000 9,523,000
Total liabilities and stockholders’ equity $ 10,659,000 $ 13,456,000