Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 3,951,000 $ 1,079,000
Restricted cash 93,000
Short-term investments 12,893,000
Prepaid expenses and other current assets 188,000 84,000
Total Current Assets 4,232,000 14,056,000
Operating lease right-of-use asset 53,000
TOTAL ASSETS 4,232,000 14,109,000
Current liabilities    
Accounts payable 3,853,000 4,328,000
Accrued expenses 1,797,000 1,195,000
Current operating lease liability 58,000
Warrant liability 252,000 1,052,000
Total Current Liabilities 5,902,000 6,633,000
Stockholders’ Equity (Deficit)    
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding at December 31, 2024 and 2023, respectively 1,000 1,000
Common stock, par value $0.001, 250,000,000 shares authorized, 2,234,328 and 1,380,633 shares issued and outstanding as of December 31, 2024 and 2023, respectively 2,000 1,000
Additional paid in capital 693,554,000 689,539,000
Accumulated deficit (695,227,000) (682,065,000)
Total Stockholders’ Equity (Deficit) (1,670,000) 7,476,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 4,232,000 $ 14,109,000