v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 41,915 $ 32,218
Accounts receivable, net [1] 7,920 9,317
Inventory, net [2] 2,747 4,045
Prepaid expenses and other current assets 3,813 1,970
Total current assets 56,395 47,550
Goodwill 9,713 9,713
Related party prepaid license rights 42,475 49,400
Deferred tax assets 26,798
Non-current assets associated with discontinued operations 14
Total assets 135,381 106,677
Current liabilities:    
Accounts payable [3] 2,671 2,340
Accrued expenses and other current liabilities [4] 10,133 7,917
Long-term debt, current 8,623 3,621
Current liabilities associated with discontinued operations 2,043 2,082
Total current liabilities 95,470 42,960
Warrant liabilities [5] 824 697
Long-term debt, net of current 5,000
Total liabilities 96,294 93,657
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common Stock, $0.001 par value per share, 35,000,000 shares authorized; 2,179,128 and 2,149,128 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. 2 2
Preferred stock, value
Additional paid-in capital 358,779 353,818
Accumulated deficit (319,694) (340,800)
Total stockholders’ equity 39,087 13,020
Total liabilities and stockholders’ equity 135,381 106,677
Related Party    
Current liabilities:    
Related party debt, current 72,000 27,000
Related party debt, net of current 45,000
Preferred A Stock    
Stockholders’ equity:    
Preferred stock, value
[1] Includes $5.9 million and $7.0 million from related parties as of June 30, 2026 and December 31, 2025, respectively.
[2] Includes $407 thousand and $392 thousand from a related party as of June 30, 2026 and December 31, 2025, respectively.
[3] Includes $221 thousand and $152 thousand due to related parties as of June 30, 2026 and December 31, 2025, respectively.
[4] Includes $4.3 million and $4.7 million due to related parties as of June 30, 2026 and December 31, 2025, respectively.
[5] As of June 30, 2026 and December 31, 2025, the number of outstanding warrants subject to liability classification was 40,017, of which 15,394 were held by RSLGH, LLC (“RSLGH”) a related party.