Quarterly report [Sections 13 or 15(d)]

Condensed Balance Sheets

v3.25.2
Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 5,228,000 $ 3,951,000
Restricted cash 93,000 93,000
Deferred offering costs 760,000
Prepaid expenses and other current assets 1,043,000 188,000
TOTAL ASSETS 7,124,000 4,232,000
Current liabilities    
Accounts payable 1,374,000 3,853,000
Accrued expenses 608,000 1,797,000
Dividend payable 85,000
Warrant liability 240,000 252,000
Total Current Liabilities 2,307,000 5,902,000
Stockholders’ Equity (Deficit)    
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,000 1,000
Common stock, par value $0.001, 250,000,000 shares authorized, 3,272,995 and 2,234,328 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3,000 2,000
Additional paid in capital 700,378,000 693,554,000
Accumulated deficit (697,521,000) (695,227,000)
Total Stockholders’ Equity (Deficit) 2,861,000 (1,670,000)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ (EQUITY) DEFICIT 7,124,000 4,232,000
Series L Preferred Stock [Member]    
Mezzanine Equity    
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series L - 6,301 and 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively $ 1,956,000