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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | ||
| Depreciation and amortization | ||
| Depreciation | ||
| Non-cash research and development license expense | ||
| Non-cash lease expense | ||
| Non-cash interest expense related to term loan | ||
| Loss on disposal of assets | ||
| Other | ||
| Loss on debt extinguishment | ||
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | ||
| Accounts payable | ||
| Accrued liabilities and other liabilities | ||
| Net cash used in operating activities | ||
| Cash Flows from Investing Activities: | ||
| Capital expenditures | ||
| Net cash used in investing activities | ||
| Cash Flows from Financing Activities: | ||
| Proceeds from sale of common stock and pre-funded warrants in private placement | ||
| Payments from sale of common stock and pre-funded warrants in private placement | ||
| Proceeds from issuance of common stock from initial public offering | ||
| Payments of issuance costs | ||
| IPO | ||
| Series B and Series C Preferred Stock | ||
| Issuance of convertible preferred stock | ||
| Payments on issuance cost from registration statement | ||
| Proceeds from issuance of term loan, net | ||
| Repayment of former term loan | ||
| Payment of loan financing cost | ||
| Proceeds from Convertible Grant Agreement | ||
| Proceeds from exercise of stock options | ||
| Net cash provided by financing activities | ||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||
| Net increase in cash, cash equivalents and restricted cash | ||
| Cash, cash equivalents and restricted cash at the beginning of the period | ||
| Cash, cash equivalents and restricted cash at the end of the period | ||
| Supplemental Disclosure of Non-cash Activities | ||
| Conversion of K2 term loan into shares of common stock | ||
| Issuance of warrants in connection with term loan | ||
| Costs from sale of common stock and pre-funded warrants in private placement not yet paid | ||
| Conversion of preferred stock into common stock upon completion of initial public offering | ||
| Reclassification of preferred warrant liability to equity | ||
| Reclassification of deferred offering costs to equity | ||
| Operating right-of-use asset obtained in exchange for lease obligation | ||
| Deferred offering and share issue costs not yet paid | ||
| Supplemental Disclosure of Cash Flow Information | ||
| Cash paid for interest |
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