|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Operating activities: | ||
| Net loss | ||
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Change in fair value of Series B preferred stock tranche rights liability | ||
| Stock-based compensation | ||
| Depreciation | ||
| Non-cash loss on equipment impairment | ||
| Non-cash lease expense | ||
| Net amortization of premiums and discounts on marketable securities | ||
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | ||
| Accounts payable and accrued expenses | ||
| Nonrelated Party | ||
| Related Party | ||
| Operating lease liabilities | ||
| Net cash used in operating activities | ||
| Investing activities: | ||
| Purchases of marketable securities | ||
| Purchase of property and equipment | ||
| Proceeds from sale of property and equipment | ||
| Net cash used in investing activities | ||
| Financing activities: | ||
| Proceeds from issuance on common stock, net of issuance costs | ||
| Proceeds from issuance of preferred stock and preferred stock tranche rights, net | ||
| Proceeds from exercise of options | ||
| Net cash provided by financing activities | ||
| Net increase (decrease) in cash and cash equivalents | ||
| Cash and cash equivalents at beginning of period | ||
| Cash and cash equivalents at end of period | ||
| Supplemental disclosure of cash flow information: | ||
| Non-cash investing and financing activities: | ||
| Settlement of Series B preferred stock tranche rights, upon issuance of milestone shares | ||
| Right-of-use asset obtained in exchange for lease liability | ||
| Vesting of early exercise stock options |
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