Liquidity and Management Plans |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Liquidity and Management Plans [Abstract] | |
| LIQUIDITY AND MANAGEMENT PLANS | NOTE 2 - LIQUIDITY AND MANAGEMENT PLANS
The Company generated an operating loss of $6.2 million, a net loss of $5.9 million, and cash used in operations of $3.4 million for the nine months ended September 30, 2025. As of September 30, 2025, the Company had cash and cash equivalents of $4.1 million and $7.6 million invested in government securities. As of September 30, 2025, the Company had working capital of $11.1 million compared to working capital as of December 31, 2024 of $3.3 million.
Given the Company’s cash and investment positions as of September 30, 2025 and its projected cash flow from operations, the Company believes that it will have sufficient capital to sustain operations for a period of at least one year following the date of this filing. The Company may also raise funds through equity or debt offerings in the future to further accelerate the execution of its long-term strategic plan to develop and commercialize its core products. |