Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash $ 4,685,000 $ 7,025,000
Restricted cash 75,000 75,000
Grant receivable 70,000
Tax credit receivable 691,000 706,000
Prepaid expenses and other current assets 418,000 328,000
Total current assets 5,939,000 8,134,000
Property and equipment, net 81,000 93,000
Deposits 95,000 95,000
Operating lease right-of-use assets, net (including $89 and $152 to related party) 1,311,000 1,390,000
Total assets 7,426,000 9,712,000
Current liabilities:    
Accounts payable and accrued expenses 1,886,000 1,876,000
Current maturities of operating lease liabilities (including $58 and $49 to related party) 343,000 334,000
Total current liabilities 2,229,000 2,210,000
Long-term liabilities:    
Operating lease liabilities (including $32 and $104 to related party) 1,081,000 1,171,000
Total long-term liabilities 1,081,000 1,171,000
Total liabilities 3,310,000 3,381,000
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 a par value: 100,000 shares authorized as of March 31, 2026 and December 31, 2025; 13,787 and 13,784 shares issued and outstanding as of March 31, 2026 and December 31, 2025 13,000 13,000
Additional paid-in capital 348,651,000 348,567,000
Accumulated deficit (344,548,000) (342,249,000)
Total stockholders’ equity 4,116,000 6,331,000
Total liabilities and stockholders’ equity $ 7,426,000 $ 9,712,000