Pulmatrix, Inc(NASDAQ:PULM)
Pulmatrix, Inc., a clinical stage biopharmaceutical company, discovers and develops inhaled therapies to prevent and treat respiratory and other diseases with unmet medical needs in the United States. The company focuses on developing products based on its inhaled Small Particles Easily Respirable a...
Website: http://pulmatrix.com
Founded: 2003
Full Time Employees: 22
Sector: Healthcare
Industry: Biotechnology
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||
research and development | 3,000 | -3,000 | 8,000 | 14,000 | 19,000 | 6,000 | 814,000 | 2,834,000 | 3,512,000 | 3,516,000 | 3,963,000 | 4,165,000 | 3,874,000 | 4,467,000 | 5,287,000 | 4,337,000 | 4,149,000 | 2,959,000 | 4,026,000 | 4,541,000 | 3,265,000 | 3,873,000 | 3,184,000 | 5,287,000 | 4,208,000 | 3,297,000 | 3,164,000 | 2,176,000 | 2,676,000 | 3,056,000 | 4,013,000 | 3,221,000 | 2,589,000 | 2,618,000 | 3,363,000 | 1,672,000 | 2,774,000 | 1,507,000 | 2,441,000 | 3,430,000 | 2,466,000 | 2,193,000 | 1,610,000 | 254,000 | 619,000 | 629,000 | 676,000 | |
general and administrative | 1,289,000 | 911,000 | 858,000 | 1,534,000 | 1,828,000 | 1,949,000 | 2,209,000 | 2,001,000 | 1,626,000 | 911,000 | 1,729,000 | 1,670,000 | 2,210,000 | 1,566,000 | 1,685,000 | 1,553,000 | 1,974,000 | 1,540,000 | 1,656,000 | 1,562,000 | 1,409,000 | 1,776,000 | 1,490,000 | 2,212,000 | 1,589,000 | 1,785,000 | 3,128,000 | 1,987,000 | 1,588,000 | 1,769,000 | 2,115,000 | 2,046,000 | 1,840,000 | 2,021,000 | 2,066,000 | 1,640,000 | 1,842,000 | 1,550,000 | 2,214,000 | 2,409,000 | 2,103,000 | 3,119,000 | 9,879,000 | |||||
total operating expenses | 1,292,000 | 908,000 | 866,000 | 1,548,000 | 1,847,000 | 1,955,000 | 3,023,000 | 7,453,000 | 5,138,000 | 4,427,000 | 5,692,000 | 5,835,000 | 6,084,000 | 6,033,000 | 6,972,000 | 5,890,000 | 6,123,000 | 4,499,000 | 9,259,000 | 6,103,000 | 4,674,000 | 5,649,000 | 4,674,000 | 7,499,000 | 5,797,000 | 5,082,000 | 12,766,000 | 4,957,000 | 4,264,000 | 4,825,000 | 6,128,000 | 5,267,000 | 4,429,000 | 4,639,000 | 5,429,000 | 3,312,000 | 7,575,000 | 3,057,000 | 9,230,000 | 5,839,000 | 4,569,000 | 5,312,000 | 11,489,000 | 1,558,000 | 1,716,000 | 1,715,000 | 1,719,000 | |
income from operations | -1,292,000 | -908,000 | -866,000 | -1,548,000 | -1,847,000 | -1,952,000 | -2,657,000 | -5,901,000 | 747,000 | -2,225,000 | -3,939,000 | -3,991,000 | -4,585,000 | -4,325,000 | -5,100,000 | -4,559,000 | -4,963,000 | -4,043,000 | -8,190,000 | -3,849,000 | -2,674,000 | -1,277,000 | -1,174,000 | -4,737,000 | -4,112,000 | -3,676,000 | -7,947,000 | -4,957,000 | -4,264,000 | -4,825,000 | -6,128,000 | -5,114,000 | -4,429,000 | -4,304,000 | -5,429,000 | -3,312,000 | -7,458,000 | -2,996,000 | -8,970,000 | -5,443,000 | -4,294,000 | -4,661,000 | -11,319,000 | -1,558,000 | -1,716,000 | -1,715,000 | -1,719,000 | |
yoy | -30.05% | -53.48% | -67.41% | -73.77% | -347.26% | -12.27% | -32.55% | 47.86% | -116.29% | -48.55% | -22.76% | -12.46% | -7.62% | 6.98% | -37.73% | 18.45% | 85.60% | 216.60% | 597.61% | -18.75% | -34.97% | -65.26% | -85.23% | -4.44% | -3.56% | -23.81% | 29.68% | -3.07% | -3.73% | 12.11% | 12.88% | 54.41% | -40.61% | 43.66% | -39.48% | -39.15% | 73.68% | -35.72% | -20.75% | 249.36% | 150.23% | 171.78% | 558.46% | |||||
qoq | 42.29% | 4.85% | -44.06% | -16.19% | -5.38% | -26.53% | -54.97% | -889.96% | -133.57% | -43.51% | -1.30% | -12.96% | 6.01% | -15.20% | 11.87% | -8.14% | 22.76% | -50.63% | 112.78% | 43.94% | 109.40% | 8.77% | -75.22% | 15.20% | 11.86% | -53.74% | 60.32% | 16.25% | -11.63% | -21.26% | 19.83% | 15.47% | 2.90% | -20.72% | 63.92% | -55.59% | 148.93% | -66.60% | 64.80% | 26.76% | -7.87% | -58.82% | 626.51% | -9.21% | 0.06% | -0.23% | ||
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -65066.67% | -725.96% | -380.22% | 12.69% | -101.04% | -224.70% | -216.43% | -305.87% | -253.22% | -272.44% | -342.52% | -427.84% | -886.62% | -766.14% | -170.76% | -133.70% | -29.21% | -33.54% | -171.51% | -244.04% | -261.45% | -164.91% | NaN% | -Infinity% | NaN% | NaN% | -3342.48% | -Infinity% | -1284.78% | NaN% | NaN% | -6374.36% | -4911.48% | -3450.00% | -1374.49% | -1561.45% | -715.98% | -6658.24% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | |
other income: | ||||||||||||||||||||||||||||||||||||||||||||||||
interest income | 12,000 | 20,000 | 30,000 | 41,000 | 53,000 | 73,000 | 101,000 | 133,000 | 160,000 | 192,000 | 217,000 | 236,000 | 222,000 | 191,000 | 102,000 | 15,000 | 1,000 | 1,000 | 1,000 | 2,000 | 4,000 | 13,000 | 13,000 | 52,000 | 74,000 | 121,000 | 4,000 | 4,000 | 5,000 | 4,000 | ||||||||||||||||||
fair value adjustment of warrants | 1,000 | 66,000 | ||||||||||||||||||||||||||||||||||||||||||||||
other income | 108,000 | -29,000 | -54,000 | -5,500 | 5,000 | -2,500 | -9,000 | -500 | 103,000 | 1,000 | -6,000 | 9,000 | 20,000 | -1,000 | 2,000 | 5,000 | 4,000 | 16,000 | 17,000 | 64,000 | 7,000 | 29,000 | ||||||||||||||||||||||||||
total other income | 120,000 | -20,000 | -11,000 | -1,000 | 39,000 | -34,000 | 70,000 | 90,000 | 78,000 | 142,000 | 165,000 | 175,000 | 137,000 | 109,000 | 48,000 | -10,000 | 4,000 | 4,000 | 5,000 | 4,000 | ||||||||||||||||||||||||||||
net income | -1,172,000 | -928,000 | -877,000 | -1,549,000 | -1,808,000 | -1,986,000 | -2,587,000 | -5,811,000 | 825,000 | -2,083,000 | -3,774,000 | -3,816,000 | -4,448,000 | -4,216,000 | -5,052,000 | -4,595,000 | -4,973,000 | -4,031,000 | -8,184,000 | -3,852,000 | -2,899,000 | -10,553,000 | -1,170,000 | -4,686,000 | -4,041,000 | -3,555,000 | -7,844,000 | -5,156,000 | -4,338,000 | -4,816,000 | -6,188,000 | -5,221,000 | -4,524,000 | -4,452,000 | -5,597,000 | -3,483,000 | -9,830,000 | -3,157,000 | -9,187,000 | -5,669,000 | -4,536,000 | -4,932,000 | -14,897,000 | -1,554,000 | -1,712,000 | -1,710,000 | -1,715,000 | |
yoy | -35.18% | -53.27% | -66.10% | -73.34% | -319.15% | -4.66% | -31.45% | 52.28% | -118.55% | -50.59% | -25.30% | -16.95% | -10.56% | 4.59% | -38.27% | 19.29% | 71.54% | -61.80% | 599.49% | -17.80% | -28.26% | 196.85% | -85.08% | -9.12% | -6.85% | -26.18% | 26.76% | -1.24% | -4.11% | 8.18% | 10.56% | 49.90% | -53.98% | 41.02% | -39.08% | -38.56% | 116.71% | -35.99% | -38.33% | 264.80% | 164.95% | 188.42% | 768.63% | |||||
qoq | 26.29% | 5.82% | -43.38% | -14.33% | -8.96% | -23.23% | -55.48% | -804.36% | -139.61% | -44.81% | -1.10% | -14.21% | 5.50% | -16.55% | 9.95% | -7.60% | 23.37% | -50.75% | 112.46% | 32.87% | -72.53% | 801.97% | -75.03% | 15.96% | 13.67% | -54.68% | 52.13% | 18.86% | -9.93% | -22.17% | 18.52% | 15.41% | 1.62% | -20.46% | 60.69% | -64.57% | 211.37% | -65.64% | 62.06% | 24.98% | -8.03% | -66.89% | 858.62% | -9.23% | 0.12% | -0.29% | ||
net income margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -66200.00% | -706.83% | -374.42% | 14.02% | -94.60% | -215.29% | -206.94% | -296.73% | -246.84% | -269.87% | -345.23% | -428.71% | -883.99% | -765.58% | -170.90% | -144.95% | -241.38% | -33.43% | -169.66% | -239.82% | -252.84% | -162.77% | NaN% | -Infinity% | NaN% | NaN% | -3412.42% | -Infinity% | -1328.96% | NaN% | NaN% | -8401.71% | -5175.41% | -3533.46% | -1431.57% | -1649.45% | -757.60% | -8762.94% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | |
net income per share | -0.32 | -0.25 | -0.24 | -0.42 | -0.5 | -0.55 | -0.71 | -1.59 | 0.23 | -0.57 | -1.03 | -1.04 | -1.22 | -1.14 | -1.45 | -1.36 | -1.51 | -8.33 | -0.15 | -0.07 | -0.05 | -0.31 | -0.05 | -0.23 | -0.16 | -0.18 | -0.41 | -0.74 | -4.56 | -0.1 | -0.13 | -0.24 | -0.21 | -0.22 | -0.29 | -0.21 | -0.66 | -0.21 | -0.62 | -0.38 | 0.46 | -0.34 | -2.66 | |||||
weighted-average common shares outstanding – basic and diluted | 3,652,285 | 3,652,285 | 3,652,285 | 3,652,285 | 3,652,285 | 3,652,285 | 3,652,285 | 3,652,285 | 3,651,911 | 3,652,285 | 3,652,285 | 3,478,157 | 3,372,090 | |||||||||||||||||||||||||||||||||||
revenues | 3,000 | 366,000 | 1,552,000 | 5,885,000 | 2,202,000 | 1,753,000 | 1,844,000 | 1,499,000 | 1,708,000 | 1,872,000 | 1,331,000 | 1,160,000 | 456,000 | 1,069,000 | 2,254,000 | 2,000,000 | 4,372,000 | 3,500,000 | 2,762,000 | 1,685,000 | 1,406,000 | 4,819,000 | 153,000 | 335,000 | 117,000 | 61,000 | 260,000 | 396,000 | 275,000 | 651,000 | 170,000 | |||||||||||||||||
yoy | -99.86% | -79.12% | -15.84% | 292.60% | 28.92% | -6.36% | 38.54% | 29.22% | 274.56% | 75.12% | -40.95% | -42.00% | -89.57% | -69.46% | -18.39% | 18.69% | 210.95% | -27.37% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | 449.18% | NaN% | NaN% | -57.45% | -90.63% | 52.94% | |||||||||||||||||
qoq | -99.18% | -76.42% | -73.63% | 167.26% | 25.61% | -4.93% | 23.02% | -12.24% | -8.76% | 40.65% | 14.74% | 154.39% | -57.34% | -52.57% | 12.70% | -54.25% | 24.91% | 26.72% | 63.92% | 19.84% | -70.82% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | 91.80% | -76.54% | -34.34% | 44.00% | -57.76% | 282.94% | |||||||||||||||
loss on mannkind transaction | ||||||||||||||||||||||||||||||||||||||||||||||||
other expense | -40,000 | -41,000 | -43,000 | -80,000 | -40,000 | -31,000 | -43,000 | -82,000 | -50,000 | -52,000 | -61,000 | -85,000 | -51,000 | -11,000 | -5,000 | -3,000 | -20,000 | -51,000 | ||||||||||||||||||||||||||||||
loss on disposal group held for sale | 2,618,000 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding - basic and diluted | 3,652,285 | 3,650,769 | 3,447,701 | 3,297,280 | ||||||||||||||||||||||||||||||||||||||||||||
operating expenses | ||||||||||||||||||||||||||||||||||||||||||||||||
goodwill impairment | 894,250 | 3,577,000 | ||||||||||||||||||||||||||||||||||||||||||||||
other income, net: | ||||||||||||||||||||||||||||||||||||||||||||||||
total other expense | -36,000 | |||||||||||||||||||||||||||||||||||||||||||||||
warrant inducement expense | -9,289,000 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares of common stock used to compute basic and diluted net loss per share | 56,249,062 | 56,249,062 | 33,924,499 | 20,294,560 | 19,216,172 | 46,927,221 | 46,102,043 | |||||||||||||||||||||||||||||||||||||||||
impairment of goodwill | 6,474,000 | 794,000 | ||||||||||||||||||||||||||||||||||||||||||||||
settlement expense | -200,000 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted average shares of common stock used to compute basic and diluted net loss per share | 24,376,571 | |||||||||||||||||||||||||||||||||||||||||||||||
other expenses | -1,000 | |||||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares used for eps calculation | 28,753,310 | 20,469,457 | 16,733,909 | 6,944,513 | 4,126,393 | 21,876,985 | 19,371,564 | 20,200,893 | 19,553,281 | 16,791,362 | 14,815,230 | 14,850,526 | 14,804,606 | 14,754,484 | 8,089,925 | 14,654,427 | 5,608,429 | |||||||||||||||||||||||||||||||
interest expense | -80,000 | -106,000 | -131,000 | -153,000 | -172,000 | -187,000 | -208,000 | -225,000 | -224,000 | -223,000 | -222,000 | -220,000 | -327,000 | |||||||||||||||||||||||||||||||||||
write-off of intangibles, net of tax provision | 1,143,750 | 4,575,000 | ||||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to common stockholders | -3,383,000 | -4,452,000 | -5,597,000 | -4,503,250 | -3,157,000 | -9,187,000 | -5,669,000 | -4,536,000 | -4,932,000 | -14,897,000 | ||||||||||||||||||||||||||||||||||||||
loss on the conversion of convertible notes | -1,170,000 | |||||||||||||||||||||||||||||||||||||||||||||||
fair value adjustment of preferred stock warrant liability | 582,000 | |||||||||||||||||||||||||||||||||||||||||||||||
fair value adjustment of derivative liability | -2,692,000 | |||||||||||||||||||||||||||||||||||||||||||||||
selling, general and administrative | 1,304,000 | 1,097,000 | 1,086,000 | 1,043,000 | ||||||||||||||||||||||||||||||||||||||||||||
- basic and diluted | -0.32 | -0.35 | -0.35 | -0.36 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of | ||||||||||||||||||||||||||||||||||||||||||||||||
common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 |
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assets | ||||||||||||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 3,324,000 | 4,088,000 | 4,794,000 | 5,825,000 | 7,708,000 | 9,521,000 | 10,782,000 | 12,379,000 | 16,300,000 | 19,173,000 | 21,336,000 | 25,791,000 | 30,753,000 | 35,628,000 | 40,683,000 | 42,905,000 | 47,534,000 | 53,840,000 | 53,491,000 | 56,903,000 | 23,440,000 | 27,879,000 | 31,817,000 | 2,146,000 | 2,563,000 | 3,806,000 | 8,341,000 | 1,553,000 | 3,550,000 | 6,360,000 | 10,976,000 | 10,541,000 | 4,182,000 | 7,313,000 | 10,788,000 | 14,753,000 | 18,902,000 | 22,026,000 | 25,507,000 | |||||
restricted cash | 700,000 | 1,421,000 | 153,000 | 153,000 | 153,000 | 153,000 | 153,000 | 153,000 | 204,000 | |||||||||||||||||||||||||||||||||||
prepaid expenses and other current assets | 465,000 | 41,000 | 178,000 | 317,000 | 317,000 | 399,000 | 641,000 | 1,201,000 | 712,000 | 742,000 | 899,000 | 1,019,000 | 1,154,000 | 1,068,000 | 1,913,000 | 2,142,000 | 1,961,000 | 871,000 | 938,000 | 1,596,000 | 777,000 | 960,000 | 1,114,000 | 1,236,000 | 717,000 | 914,000 | 619,000 | 346,000 | 696,000 | 885,000 | 754,000 | 413,000 | 577,000 | 1,022,000 | 1,010,000 | 1,011,000 | 1,560,000 | 1,333,000 | 510,000 | 166,000 | 199,000 | 289,000 | 377,000 | 3,000 |
total current assets | 4,489,000 | 4,129,000 | 4,972,000 | 6,142,000 | 8,041,000 | 9,920,000 | 11,446,000 | 15,636,000 | 17,582,000 | 20,843,000 | 23,229,000 | 27,381,000 | 32,800,000 | 38,147,000 | 43,225,000 | 45,845,000 | 50,608,000 | 54,778,000 | 54,438,000 | 60,469,000 | 31,417,000 | 28,839,000 | 32,931,000 | 3,382,000 | 3,280,000 | 4,720,000 | 8,960,000 | 2,052,000 | 4,246,000 | 7,550,000 | 11,730,000 | 10,954,000 | 4,759,000 | 8,335,000 | 11,798,000 | 15,764,000 | 20,462,000 | 23,359,000 | 26,017,000 | 10,523,000 | 11,769,000 | 13,169,000 | 14,644,000 | 15,574,000 |
long-term restricted cash | 7,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 51,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,472,000 | 1,625,000 | 1,625,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 204,000 | 200,000 | 250,000 | 253,000 | 253,000 | ||||||
total assets | 4,496,000 | 4,139,000 | 4,982,000 | 6,152,000 | 8,051,000 | 9,943,000 | 11,510,000 | 15,780,000 | 30,391,000 | 33,958,000 | 36,770,000 | 31,393,000 | 36,059,000 | 40,953,000 | 46,450,000 | 49,398,000 | 54,303,000 | 58,817,000 | 55,748,000 | 65,433,000 | 36,098,000 | 32,925,000 | 37,047,000 | 13,991,000 | 14,723,000 | 16,285,000 | 20,576,000 | 13,724,000 | 15,978,000 | 19,325,000 | 23,520,000 | 22,794,000 | 16,663,000 | 25,480,000 | 28,819,000 | 40,223,000 | 44,873,000 | 47,664,000 | 50,313,000 | 10,680,000 | 11,874,000 | 13,274,000 | 14,647,000 | 15,576,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 651,000 | 272,000 | 69,000 | 384,000 | 657,000 | 809,000 | 373,000 | 393,000 | 721,000 | 1,915,000 | 707,000 | 929,000 | 578,000 | 1,188,000 | 1,155,000 | 728,000 | 1,227,000 | 839,000 | 875,000 | 1,508,000 | 600,000 | 1,159,000 | 543,000 | 1,611,000 | 1,183,000 | 1,367,000 | 1,507,000 | 1,192,000 | 457,000 | 1,027,000 | 564,000 | 235,000 | 747,000 | 401,000 | 664,000 | 1,272,000 | 1,090,000 | 927,000 | 314,000 | |||||
accrued expenses and other current liabilities | 254,000 | 57,000 | 180,000 | 164,000 | 246,000 | 120,000 | 217,000 | 1,783,000 | 1,677,000 | 947,000 | 2,535,000 | 1,201,000 | 1,662,000 | 1,638,000 | 2,748,000 | 1,587,000 | 2,583,000 | |||||||||||||||||||||||||||
total current liabilities | 905,000 | 329,000 | 249,000 | 548,000 | 903,000 | 929,000 | 590,000 | 2,470,000 | 3,144,000 | 3,909,000 | 4,429,000 | 3,597,000 | 4,732,000 | 5,022,000 | 6,324,000 | 5,601,000 | 5,377,000 | 4,442,000 | 5,132,000 | 6,917,000 | 17,200,000 | 11,728,000 | 12,753,000 | 3,795,000 | 2,879,000 | 3,651,000 | 3,778,000 | 6,196,000 | 5,840,000 | 6,510,000 | 5,892,000 | 4,335,000 | 4,650,000 | 4,105,000 | 4,109,000 | 4,014,000 | 3,605,000 | 2,475,000 | 1,327,000 | 635,000 | 575,000 | 575,000 | 550,000 | 947,000 |
total liabilities | 905,000 | 329,000 | 249,000 | 548,000 | 904,000 | 996,000 | 590,000 | 2,470,000 | 11,373,000 | 15,963,000 | 16,889,000 | 7,944,000 | 9,049,000 | 9,844,000 | 11,404,000 | 10,959,000 | 11,546,000 | 11,368,000 | 10,555,000 | 12,340,000 | 25,079,000 | 18,199,000 | 18,955,000 | 2,879,000 | 5,841,000 | 6,545,000 | 7,731,000 | 6,892,000 | 7,902,000 | 8,009,000 | 8,668,000 | 12,053,000 | 12,267,000 | 11,758,000 | 11,003,000 | |||||||||
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 1,100 shares designated as series b convertible preferred stock; no shares issued and outstanding at march 31, 2026, and december 31, 2025; 1,000 shares of series b convertible preferred stock issuable at march 31, 2026 | 950,000 | |||||||||||||||||||||||||||||||||||||||||||
common stock | 6,000 | 6,000 | 2,000 | 2,000 | 2,000 | 1,000 | 5,000 | 5,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||||||||||||||
additional paid-in capital | 306,131,000 | 306,128,000 | 306,123,000 | 306,117,000 | 306,111,000 | 306,103,000 | 306,090,000 | 305,893,000 | 305,790,000 | 305,592,000 | 305,395,000 | 305,189,000 | 304,934,000 | 304,585,000 | 304,306,000 | 302,647,000 | 301,830,000 | 301,008,000 | 295,796,000 | 295,512,000 | 226,178,000 | 225,844,000 | 225,655,000 | 209,916,000 | 206,409,000 | 202,856,000 | 202,204,000 | 186,749,000 | 184,137,000 | 182,256,000 | 180,813,000 | 175,329,000 | 164,706,000 | 163,586,000 | 163,110,000 | 161,941,000 | 160,708,000 | 159,472,000 | 157,944,000 | 20,404,520 | 20,104,520 | 19,792,520 | 19,480,520 | 18,297,535 |
accumulated deficit | -303,490,000 | -302,318,000 | -301,390,000 | -300,513,000 | -298,964,000 | -297,156,000 | -295,170,000 | -292,583,000 | -286,772,000 | -287,597,000 | -285,514,000 | -281,740,000 | -277,924,000 | -273,476,000 | -269,260,000 | -264,208,000 | -259,613,000 | -254,640,000 | -250,609,000 | -242,425,000 | -215,161,000 | -211,120,000 | -207,565,000 | -199,721,000 | -194,565,000 | -190,227,000 | -185,411,000 | -179,223,000 | -174,002,000 | -169,478,000 | -165,026,000 | -159,429,000 | -155,946,000 | -146,116,000 | -142,960,000 | -133,772,000 | -128,103,000 | -123,567,000 | -118,635,000 | -10,360,000 | -8,806,000 | -7,094,000 | -5,384,000 | -3,669,000 |
total stockholders’ equity | 3,591,000 | 3,810,000 | 4,733,000 | 5,604,000 | 7,147,000 | 8,947,000 | 10,920,000 | 13,310,000 | 19,018,000 | 17,995,000 | 19,881,000 | 23,449,000 | 27,010,000 | 31,109,000 | 35,046,000 | 38,439,000 | 42,757,000 | 47,449,000 | 45,193,000 | 53,093,000 | 11,019,000 | 14,726,000 | 18,092,000 | 10,196,000 | 11,844,000 | 12,634,000 | 16,798,000 | 7,528,000 | 10,137,000 | 12,780,000 | 15,789,000 | 15,902,000 | 8,761,000 | 17,471,000 | 20,151,000 | 28,170,000 | 32,606,000 | 35,906,000 | 39,310,000 | |||||
total liabilities and stockholders’ equity | 4,496,000 | 4,139,000 | 4,982,000 | 6,152,000 | 8,051,000 | 9,943,000 | 11,510,000 | 15,780,000 | 30,391,000 | 33,958,000 | 36,770,000 | 31,393,000 | 36,059,000 | 40,953,000 | 46,450,000 | 49,398,000 | 54,303,000 | 58,817,000 | 55,748,000 | 65,433,000 | 36,098,000 | 32,925,000 | 37,047,000 | 13,991,000 | 14,723,000 | 16,285,000 | 20,576,000 | 13,724,000 | 15,978,000 | 19,325,000 | 23,520,000 | 22,794,000 | 16,663,000 | 25,480,000 | 28,819,000 | 40,223,000 | ||||||||
other long-term assets | 13,000 | 54,000 | 93,000 | 135,000 | 176,000 | 217,000 | 1,984,000 | 899,000 | 389,000 | 428,000 | 368,000 | |||||||||||||||||||||||||||||||||
warrant liability | 1,000 | 67,000 | ||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at december 31, 2025 and 2024 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at september 30, 2025, and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at june 30, 2025, and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | 16,000 | 23,000 | 635,000 | 570,000 | 928,000 | 841,000 | 418,000 | 740,000 | 1,298,000 | 476,000 | 645,000 | 1,113,000 | 67,000 | 9,000 | 1,766,000 | 7,200,000 | 153,000 | 305,000 | ||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at march 31, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
property and equipment | 1,108,000 | 1,158,000 | 1,166,000 | 279,000 | 203,000 | 235,000 | 265,000 | 306,000 | 319,000 | 321,000 | 345,000 | 379,000 | 270,000 | 305,000 | 335,000 | 354,000 | 394,000 | 447,000 | 498,000 | 554,000 | 614,000 | 657,000 | 672,000 | 722,000 | 786,000 | 999,000 | 875,000 | 783,000 | 685,000 | 558,000 | 545,000 | 157,000 | 105,000 | 105,000 | 3,000 | 2,000 | ||||||||
operating lease right-of-use asset | 10,094,000 | 10,309,000 | 10,686,000 | 277,000 | 685,000 | 710,000 | 1,060,000 | 1,407,000 | 1,751,000 | 2,093,000 | 761,000 | 1,008,000 | 630,000 | |||||||||||||||||||||||||||||||
operating lease liability | 24,000 | 383,000 | 429,000 | 199,000 | 358,000 | 779,000 | 857,000 | 1,281,000 | 1,702,000 | 1,566,000 | 1,431,000 | 898,000 | 1,184,000 | 675,000 | ||||||||||||||||||||||||||||||
deferred revenue | 270,000 | 363,000 | 618,000 | 988,000 | 1,109,000 | 1,713,000 | 1,339,000 | 1,140,000 | 1,561,000 | 1,517,000 | 939,000 | 1,974,000 | 3,034,000 | 13,411,000 | 9,304,000 | 10,979,000 | ||||||||||||||||||||||||||||
deferred revenue, net of current portion | 3,727,000 | 4,038,000 | 4,347,000 | 4,317,000 | 4,822,000 | 5,080,000 | 5,358,000 | 5,739,000 | 6,069,000 | 5,423,000 | 5,423,000 | 7,879,000 | 6,471,000 | 6,202,000 | ||||||||||||||||||||||||||||||
operating lease liability, net of current portion | 8,229,000 | 8,327,000 | 8,422,000 | 430,000 | 857,000 | |||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at december 31, 2024 and 2023 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at september 30, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at june 30, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at march 31, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at december 31, 2023 and 2022 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at september 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at june 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no shares issued and outstanding at march 31, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no and 1,830 shares issued and outstanding at december 31, 2022 and 2021, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized; 6,746 shares designated series a convertible preferred stock; no and 1,830 shares issued and outstanding at september 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||||||||||||||||||||||||||||
accrued expenses | 1,610,000 | 1,067,000 | 1,233,000 | 1,385,000 | 1,191,000 | 2,514,000 | 1,265,000 | 1,231,000 | 2,184,000 | 1,696,000 | 2,284,000 | 2,271,000 | 2,479,000 | 2,162,000 | 1,439,000 | 1,317,000 | 1,193,000 | 1,212,000 | 1,060,000 | 1,486,000 | 1,135,000 | 1,013,000 | ||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized at june 30, 2022 and december 31, 2021; 6,746 shares designated series a convertible preferred stock; no and 1,830 shares issued and outstanding at june 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||||||||||||||||||||||||||||
series a convertible preferred stock, 0.0001 par value — 6,746 shares authorized at march 31, 2022 and december 31, 2021; 915 and 1,830 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively | 540,000 | |||||||||||||||||||||||||||||||||||||||||||
goodwill | 3,577,000 | 3,577,000 | 3,577,000 | 3,577,000 | 10,051,000 | 10,845,000 | 10,914,000 | 10,914,000 | 10,914,000 | 10,914,000 | 10,914 | 10,914,000 | 10,914,000 | 10,914,000 | 15,942,000 | 15,942,000 | 15,942,000 | 15,942,000 | 15,942,000 | 15,942,000 | ||||||||||||||||||||||||
series a convertible preferred stock, 0.0001 par value — 6,745 and no shares authorized at december 31, 2021 and december 31, 2020, respectively; 1,830 and no shares issued and outstanding at december 31, 2021 and december 31, 2020, respectively | 1,081,000 | |||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at september 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
commitments | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at june 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 shares authorized at december 31, 2019 and december 31, 2018, respectively; no shares issued and outstanding at december 31, 2019 and december 31, 2018, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—500,000 authorized and 0 issued and outstanding at september 30, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—500,000 authorized and 0 issued and outstanding at june 30, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at march 31, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||
loan payable, net of debt discount and issuance costs | 2,524,000 | 3,221,000 | 3,896,000 | 2,745,000 | 2,661,000 | 2,586,000 | 2,511,000 | 2,233,000 | ||||||||||||||||||||||||||||||||||||
derivative liability | 1,000 | 1,000 | 35,000 | 35,000 | 35,000 | 35,000 | 11,000 | 11,000 | 11,000 | 11,000 | 11,000 | 11,000 | ||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at september 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—500,000 authorized and 0 issued and outstanding at june 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—500,000 authorized and 0 issued and outstanding at march 31, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
loan payable, net of current portion, debt discount and issuance costs | 1,804,000 | 2,522,000 | 3,217,000 | 3,893,000 | 4,548,000 | 5,069,000 | 5,692,000 | |||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value—500,000 authorized and 0 issued and outstanding at september 30, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value - 500,000 authorized and 0 issued and outstanding at june 30, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value - 500,000 authorized and 0 issued and outstanding at march 31, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||
intangible assets | 7,534,000 | 7,534,000 | 7,534,000 | 7,534,000 | ||||||||||||||||||||||||||||||||||||||||
deferred tax liability | 2,959,000 | 2,959,000 | 2,959,000 | 2,959,000 | ||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at september 30, 2016 and december 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at june 30, 2016 and december 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||
loan payable, net of debt discount | 1,682,000 | 1,029,000 | 413,000 | |||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value — 500,000 authorized and 0 issued and outstanding at march 31, 2016 and december 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||
convertible notes payable to stockholders, net of discount | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock warrant liability | ||||||||||||||||||||||||||||||||||||||||||||
redeemable convertible preferred stock | ||||||||||||||||||||||||||||||||||||||||||||
series b redeemable convertible preferred stock, 0.01 par value — 0 shares and 180,980,200 shares designated at december 31, 2015 and december 31, 2014; 0 shares and 41,788,790 shares issued and outstanding at december 31, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
seed redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,219,508 shares designated at december 31, 2015; 0 shares and 1,219,508 shares issued and outstanding at december 31, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
series a-4 redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,307,190 shares designated; 0 shares and 1,307,190 shares issued and outstanding at december 31, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
series b-1 redeemable convertible preferred stock, 0.01 par value — 0 shares and 18,687,554 shares designated; 0 shares and 18,687,554 shares issued and outstanding at december 31, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
junior seed convertible preferred stock, 0.01 par value — 0 shares and 410,000 shares designated; 0 shares and 410,000 shares issued and outstanding at december 31, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 44,873,000 | 47,664,000 | 50,313,000 | |||||||||||||||||||||||||||||||||||||||||
other assets | 18,000 | 22,000 | ||||||||||||||||||||||||||||||||||||||||||
loan payable, net of current portion and debt discount | 6,313,000 | |||||||||||||||||||||||||||||||||||||||||||
series b redeemable convertible preferred stock, 0.01 par value — 0 shares and 180,980,200 shares designated at september 30, 2015 and december 31, 2014; 0 shares and 41,788,790 shares issued and outstanding at september 30, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
seed redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,219,508 shares designated, issued and outstanding at september 30, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
series a-4 redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,307,190 shares designated, issued and outstanding at september 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
series b-1 redeemable convertible preferred stock, 0.01 par value — 0 shares and 18,687,554 shares designated, issued and outstanding at september 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
junior seed convertible preferred stock, 0.01 par value — 0 shares and 410,000 shares designated, issued and outstanding at september 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||
loan payable, net of discount | 6,706,000 | |||||||||||||||||||||||||||||||||||||||||||
series b redeemable convertible preferred stock, 0.01 par value — 0 shares and 180,980,200 shares designated at june 30, 2015 and december 31, 2014; 0 shares and 41,788,790 shares issued and outstanding at june 30, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
seed redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,219,508 shares designated at june 30, 2015; 0 shares and 1,219,508 shares issued and outstanding at june 30, 2015 and december 31, 2014, respectively | ||||||||||||||||||||||||||||||||||||||||||||
series a-4 redeemable convertible preferred stock, 0.01 par value — 0 shares and 1,307,190 shares designated; 0 shares and 1,307,190 shares issued and outstanding at june 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
series b-1 redeemable convertible preferred stock, 0.01 par value — 0 shares and 18,687,554 shares designated; 0 shares and 18,687,554 shares issued and outstanding at june 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
junior seed convertible preferred stock, 0.01 par value — 0 shares and 410,000 shares designated; 0 shares and 410,000 shares issued and outstanding at june 30, 2015 and december 31, 2014, respectively; | ||||||||||||||||||||||||||||||||||||||||||||
cash | 10,357,000 | 11,570,000 | 12,880,000 | 14,267,000 | 15,571,000 | |||||||||||||||||||||||||||||||||||||||
liabilities and stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued expenses | 635,000 | 574,000 | 573,000 | 543,000 | 410,000 | |||||||||||||||||||||||||||||||||||||||
payable to former parent | 1,000 | 2,000 | 7,000 | 537,000 | ||||||||||||||||||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.0001 par value... | 480 | 480 | 480 | 465 | ||||||||||||||||||||||||||||||||||||||||
total stockholders' equity | 10,045,000 | 11,299,000 | 12,699,000 | 14,097,000 | 14,629,000 | |||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders' equity | 10,680,000 | 11,874,000 | 13,274,000 | 14,647,000 | 15,576,000 | |||||||||||||||||||||||||||||||||||||||
500,000 shares authorized; | ||||||||||||||||||||||||||||||||||||||||||||
no shares issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||
at june 30, 2014 and march 31, 2014, respectively | 480 | |||||||||||||||||||||||||||||||||||||||||||
100,000,000 shares authorized; | ||||||||||||||||||||||||||||||||||||||||||||
4,804,290 and 4,650,000 shares issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||
deferred offering costs |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||
net loss | -1,986,000 | -2,587,000 | -2,083,000 | -3,774,000 | -3,816,000 | -4,448,000 | -4,216,000 | -5,052,000 | -4,595,000 | -4,973,000 | -4,031,000 | -8,184,000 | -3,852,000 | -4,104,000 | -2,899,000 | -10,553,000 | -1,170,000 | -4,686,000 | -4,041,000 | -3,555,000 | -7,844,000 | -5,156,000 | -4,338,000 | -4,816,000 | -4,524,000 | -4,452,000 | -5,597,000 | -3,483,000 | -9,830,000 | -3,156,000 | -9,188,000 | -5,669,000 | -4,536,000 | -4,932,000 | ||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||
depreciation and amortization | 0 | 0 | 47,000 | 59,000 | 38,000 | 32,000 | 32,000 | 32,000 | 39,000 | 41,000 | 47,000 | 35,000 | 35,000 | 46,000 | 37,000 | 51,000 | 58,000 | 54,000 | 52,000 | 51,000 | 43,000 | 44,000 | 45,000 | 50,000 | 56,000 | 57,000 | 60,000 | 59,000 | 63,000 | 64,000 | 67,000 | 66,000 | 59,000 | 58,000 | 53,000 | 57,000 |
amortization of operating lease right-of-use asset | 0 | 0 | 114,000 | 215,000 | 170,000 | 394,000 | 408,000 | 369,000 | 350,000 | 347,000 | 344,000 | 342,000 | 339,000 | 247,000 | 242,000 | 239,000 | 235,000 | 234,000 | 206,000 | 153,000 | ||||||||||||||||
stock-based compensation | 13,000 | 197,000 | 103,000 | 198,000 | 197,000 | 206,000 | 255,000 | 296,000 | 279,000 | 277,000 | 277,000 | 281,000 | 328,000 | 343,000 | 331,000 | 185,000 | 1,091,000 | 459,000 | 615,000 | 660,000 | 741,000 | 740,000 | 715,000 | 622,000 | 1,120,000 | 476,000 | 1,169,000 | 1,233,000 | 1,236,000 | 1,527,000 | ||||||
loss on disposals | 0 | |||||||||||||||||||||||||||||||||||
fair value adjustment of warrants | ||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||
accounts receivable | 23,000 | 612,000 | -65,000 | 358,000 | -87,000 | -423,000 | 322,000 | 558,000 | -822,000 | 169,000 | 468,000 | -1,046,000 | -58,000 | 1,757,000 | -1,679,000 | -3,000 | 1,133,000 | -864,000 | -353,000 | 7,200,000 | ||||||||||||||||
prepaid expenses and other current assets | 242,000 | 560,000 | -489,000 | 30,000 | 157,000 | 120,000 | 135,000 | -86,000 | 845,000 | 229,000 | -181,000 | -1,090,000 | -7,000 | 658,000 | -634,000 | -165,000 | 597,000 | 54,000 | 397,000 | -1,068,000 | 183,000 | 154,000 | 122,000 | -519,000 | 198,000 | -296,000 | 189,000 | -131,000 | -341,000 | 164,000 | 445,000 | -12,000 | 1,000 | 549,000 | -306,000 | -819,000 |
other long-term assets | 41,000 | 39,000 | 42,000 | 41,000 | 41,000 | 1,767,000 | -1,085,000 | -510,000 | 39,000 | -60,000 | ||||||||||||||||||||||||||
accounts payable | 436,000 | -20,000 | -328,000 | -1,194,000 | 1,208,000 | -172,000 | 301,000 | -610,000 | 33,000 | 427,000 | -466,000 | 517,000 | -99,000 | -545,000 | 517,000 | -22,000 | 291,000 | 330,000 | -993,000 | 672,000 | -559,000 | 616,000 | -1,068,000 | 428,000 | -184,000 | -140,000 | -549,000 | 442,000 | 329,000 | -512,000 | 343,000 | -128,000 | -660,000 | 99,000 | 97,000 | 640,000 |
accrued expenses and other current liabilities | -97,000 | -1,566,000 | 350,000 | 875,000 | -1,313,000 | 670,000 | -461,000 | 24,000 | -1,110,000 | |||||||||||||||||||||||||||
operating lease liability | 0 | -24,000 | -165,000 | -144,000 | 342,000 | -2,540,000 | -421,000 | -422,000 | -424,000 | -421,000 | -294,000 | -292,000 | -281,000 | -286,000 | -281,000 | -278,000 | -150,000 | -153,000 | -164,000 | |||||||||||||||||
deferred revenue | 0 | -270,000 | -93,000 | -3,982,000 | -681,000 | -430,000 | -574,000 | -131,000 | -59,000 | -699,000 | -337,000 | 248,000 | -389,000 | -1,060,000 | -496,000 | -1,381,000 | -1,916,000 | -3,156,000 | -3,147,000 | -2,737,000 | 5,515,000 | -1,406,000 | ||||||||||||||
net cash from operating activities | -1,261,000 | -3,059,000 | -3,677,000 | -2,719,000 | -2,011,000 | -4,142,000 | -4,904,000 | -4,928,000 | -5,046,000 | -3,604,000 | -4,562,000 | -6,144,000 | -4,396,000 | -3,312,000 | -6,524,000 | -5,495,000 | -2,768,000 | -5,515,000 | -4,998,000 | 798,000 | -4,433,000 | -3,928,000 | 15,047,000 | -3,456,000 | -4,165,000 | -4,521,000 | -3,657,000 | -2,992,000 | -2,503,000 | -2,798,000 | -3,866,000 | -4,076,000 | -2,978,000 | -3,412,000 | ||
capital expenditures | 0 | 0 | -244,000 | 90,000 | -580,000 | -313,000 | 0 | 0 | -9,000 | 0 | -67,000 | -10,000 | -26,000 | -100,000 | 0 | -83,000 | -100,000 | -2,000 | -96,000 | -9,000 | -14,000 | -25,000 | -10,000 | -11,000 | -6,000 | 0 | -18,000 | -265,000 | -99,000 | -73,000 | -146,000 | -70,000 | ||||
free cash flows | -1,261,000 | -3,059,000 | -3,921,000 | -2,629,000 | -2,591,000 | -4,455,000 | -4,904,000 | -4,928,000 | -5,055,000 | -3,604,000 | -4,629,000 | -6,154,000 | -4,422,000 | -3,412,000 | -6,524,000 | -2,851,000 | -5,615,000 | -5,000,000 | 702,000 | -4,442,000 | -3,942,000 | 15,022,000 | -3,466,000 | -4,176,000 | -4,527,000 | -3,657,000 | -2,521,000 | -3,063,000 | -3,965,000 | -4,149,000 | -3,124,000 | -3,482,000 | ||||
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||
purchases of property and equipment | 0 | 0 | -244,000 | -154,000 | -305,000 | -313,000 | -9,000 | 0 | -67,000 | -10,000 | -26,000 | -100,000 | -83,000 | -100,000 | -2,000 | -96,000 | -9,000 | -14,000 | -25,000 | -10,000 | -11,000 | -6,000 | -38,000 | -23,000 | -18,000 | -265,000 | -99,000 | -73,000 | -146,000 | -70,000 | ||||||
net cash from investing activities | 0 | 0 | -244,000 | -154,000 | -305,000 | -313,000 | -9,000 | 0 | -67,000 | -10,000 | -26,000 | -100,000 | -83,000 | -100,000 | -2,000 | -96,000 | -9,000 | -14,000 | -25,000 | -10,000 | -11,000 | -6,000 | -38,000 | -23,000 | 6,000 | -265,000 | -99,000 | -73,000 | -146,000 | -70,000 | ||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock, net of issuance costs | 0 | 0 | 0 | 53,000 | 0 | 0 | 0 | 0 | 37,079,000 | 0 | 0 | 0 | 14,566,000 | 2,979,000 | 4,765,000 | 9,702,000 | ||||||||||||||||||||
net cash from financing activities | 0 | 0 | 0 | 53,000 | 0 | 1,382,000 | 0 | -152,000 | 6,192,000 | 0 | 0 | 37,283,000 | 0 | 12,868,000 | 7,853,000 | 260,000 | 3,000 | 4,000 | 14,649,000 | 3,049,000 | 2,933,000 | -8,000 | 440,000 | 23,000 | 4,105,000 | 9,351,000 | -634,000 | 0 | 1,000 | |||||||
net decrease in cash, cash equivalents and restricted cash | -1,261,000 | -3,059,000 | -3,921,000 | -2,873,000 | -2,316,000 | -4,455,000 | -4,962,000 | -4,875,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash — beginning of period | 0 | 0 | 0 | 20,645,000 | 0 | 0 | 0 | 37,253,000 | 0 | 0 | 55,465,000 | 0 | 0 | 0 | 31,861,000 | 0 | 0 | 0 | 23,644,000 | 0 | 0 | 0 | 2,767,000 | |||||||||||||
cash, cash equivalents and restricted cash — end of period | -1,261,000 | -3,059,000 | -3,921,000 | 17,772,000 | -2,316,000 | -4,455,000 | -4,962,000 | 32,378,000 | -2,222,000 | -4,629,000 | 49,159,000 | 1,770,000 | -3,412,000 | -6,542,000 | 63,649,000 | -2,851,000 | 7,253,000 | 2,853,000 | 24,606,000 | -4,439,000 | -3,938,000 | 29,671,000 | 2,350,000 | |||||||||||||
reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets: | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents | -1,261,000 | -1,597,000 | -3,921,000 | 16,300,000 | -2,163,000 | -4,455,000 | -4,962,000 | 30,753,000 | -5,055,000 | -2,222,000 | -4,629,000 | 47,534,000 | ||||||||||||||||||||||||
long-term restricted cash | 0 | -41,000 | -1,421,000 | 1,472,000 | 0 | 0 | 0 | 1,472,000 | 0 | 0 | ||||||||||||||||||||||||||
total cash, cash equivalents and restricted cash | -1,261,000 | -3,059,000 | -3,921,000 | 17,772,000 | -2,316,000 | -4,455,000 | -4,962,000 | 32,378,000 | ||||||||||||||||||||||||||||
supplemental disclosures of non-cash investing and financing information: | ||||||||||||||||||||||||||||||||||||
reduction of operating lease right-of-use asset and lease liability upon lease modification | 0 | 0 | ||||||||||||||||||||||||||||||||||
operating lease right-of-use asset obtained in exchange for operating lease liability | -207,000 | |||||||||||||||||||||||||||||||||||
purchases of property and equipment not yet paid | 244,000 | -275,000 | ||||||||||||||||||||||||||||||||||
restricted cash | 0 | 0 | 153,000 | 0 | 0 | -1,472,000 | 1,625,000 | 0 | 0 | -4,000 | 50,000 | 0 | ||||||||||||||||||||||||
operating lease right-of-use asset obtained in exchange for operating lease obligation | 0 | 344,000 | 0 | 0 | ||||||||||||||||||||||||||||||||
loss on disposal group held for sale | ||||||||||||||||||||||||||||||||||||
net income | 825,000 | |||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||
loss on disposal of property and equipment | 0 | 142,000 | 3,000 | 2,000 | ||||||||||||||||||||||||||||||||
preferred stock issuance costs | 0 | 0 | -152,000 | |||||||||||||||||||||||||||||||||
conversion of preferred stock to common stock | 0 | 0 | 540,000 | 541,000 | ||||||||||||||||||||||||||||||||
fixed asset purchases in accounts payable | 33,000 | 73,000 | 15,000 | 4,000 | 9,000 | 10,000 | 2,000 | |||||||||||||||||||||||||||||
proceeds from the issuance of preferred stock and common stock warrants, net of issuance costs | ||||||||||||||||||||||||||||||||||||
impairment of goodwill | 0 | 0 | 0 | 6,474,000 | 794,000 | |||||||||||||||||||||||||||||||
proceeds from exercise of common stock warrants | ||||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 1,770,000 | -3,412,000 | -6,542,000 | 31,788,000 | -2,851,000 | 7,253,000 | 2,853,000 | 962,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash — beginning of year | ||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash — end of year | ||||||||||||||||||||||||||||||||||||
issuance costs in accounts payable | ||||||||||||||||||||||||||||||||||||
preferred stock issuance costs associated with placement agent warrants | ||||||||||||||||||||||||||||||||||||
beneficial conversion feature of preferred stock | ||||||||||||||||||||||||||||||||||||
deemed dividend related to beneficial conversion feature of preferred stock | ||||||||||||||||||||||||||||||||||||
goodwill impairment | ||||||||||||||||||||||||||||||||||||
proceeds from exercise of warrants | 0 | 204,000 | 536,000 | 239,000 | ||||||||||||||||||||||||||||||||
net (decrease) increase in cash, cash equivalents and restricted cash | -2,222,000 | -4,629,000 | -6,306,000 | |||||||||||||||||||||||||||||||||
supplemental information: | ||||||||||||||||||||||||||||||||||||
total cash, cash equivalents and restricted cash shown in the statement of cash flows | -2,222,000 | -4,629,000 | 49,159,000 | |||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||||||||||||||||||
accrued expenses | 543,000 | -166,000 | -152,000 | 194,000 | -677,000 | -160,000 | -361,000 | -1,056,000 | -103,000 | 1,034,000 | 1,299,000 | 40,000 | -948,000 | 494,000 | -568,000 | 13,000 | 556,000 | -1,017,000 | 1,119,000 | 96,000 | 90,000 | -55,000 | 115,000 | -462,000 | 364,000 | 94,000 | ||||||||||
share-based compensation | 247,000 | 284,000 | 303,000 | |||||||||||||||||||||||||||||||||
warrant inducement expense | ||||||||||||||||||||||||||||||||||||
proceeds from exercise of common stock warrants, net of issuance costs | 0 | 2,292,000 | ||||||||||||||||||||||||||||||||||
proceeds from exercise of common stock options | 0 | 0 | 3,000 | 21,000 | ||||||||||||||||||||||||||||||||
proceeds from paycheck protection program loan | 0 | 0 | ||||||||||||||||||||||||||||||||||
repayment of paycheck protection program loan | 0 | 0 | ||||||||||||||||||||||||||||||||||
proceeds from exercise of common stock warrants, shares to be issued | ||||||||||||||||||||||||||||||||||||
warrant inducement | ||||||||||||||||||||||||||||||||||||
operating lease liabilities | ||||||||||||||||||||||||||||||||||||
proceeds from exercise of pre-funded warrants | 70,000 | |||||||||||||||||||||||||||||||||||
gain on disposal of property and equipment | ||||||||||||||||||||||||||||||||||||
non-cash interest expense | -20,000 | 0 | 36,000 | 41,000 | 46,000 | 48,000 | 53,000 | 56,000 | 52,000 | 51,000 | 80,000 | 22,000 | ||||||||||||||||||||||||
non-cash debt issuance expense | 0 | 0 | 3,000 | 2,000 | 3,000 | 4,000 | 3,000 | 5,000 | 4,000 | 4,000 | ||||||||||||||||||||||||||
fair value adjustment on derivative liability | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||
proceeds from issuance of common stock and warrants | 0 | 0 | ||||||||||||||||||||||||||||||||||
principal payments term loan | ||||||||||||||||||||||||||||||||||||
end of term loan payment | ||||||||||||||||||||||||||||||||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||||||||||||||||||
cash paid for interest | ||||||||||||||||||||||||||||||||||||
deferred rent | -6,000 | -5,000 | -6,000 | |||||||||||||||||||||||||||||||||
proceeds from the exercise of pre-funded warrants | 4,000 | |||||||||||||||||||||||||||||||||||
term loan principal payments | 0 | -680,000 | -664,000 | -651,000 | ||||||||||||||||||||||||||||||||
end of term payments | 0 | |||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -3,938,000 | -4,535,000 | -4,616,000 | 435,000 | 6,359,000 | -3,131,000 | -3,475,000 | |||||||||||||||||||||||||||||
net decrease in cash | -417,000 | |||||||||||||||||||||||||||||||||||
non-cash rent expense | 5,000 | 5,000 | 6,000 | 5,000 | 11,000 | 10,000 | 11,000 | 11,000 | -38,000 | -3,000 | ||||||||||||||||||||||||||
proceeds from exercise of stock options | 0 | 0 | 0 | 1,000 | ||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents — beginning of period | 0 | 0 | 0 | 0 | 0 | 4,182,000 | 0 | 0 | ||||||||||||||||||||||||||||
cash and cash equivalents — end of period | -1,243,000 | -4,535,000 | -4,616,000 | 435,000 | 10,541,000 | -3,131,000 | -3,475,000 | |||||||||||||||||||||||||||||
supplemental disclosures of cash flow information | ||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock and pre-funded warrants, net of issuance costs | -8,000 | |||||||||||||||||||||||||||||||||||
proceeds from the exercise of stock options | 300,000 | |||||||||||||||||||||||||||||||||||
supplemental disclosures of noncash financing and investing activities | ||||||||||||||||||||||||||||||||||||
write-off of intangibles, net of tax provision | ||||||||||||||||||||||||||||||||||||
proceeds on sale of equipment | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents— end of period | ||||||||||||||||||||||||||||||||||||
supplemental disclosures of noncash financing and investing activities: | ||||||||||||||||||||||||||||||||||||
fixed asset trade in value | ||||||||||||||||||||||||||||||||||||
fixed asset purchases in accounts payable at year-end | 83,000 | |||||||||||||||||||||||||||||||||||
write-off of intangible assets, net of tax provision | 0 | |||||||||||||||||||||||||||||||||||
stock issued for consulting services in connection with the ruthigen, inc. merger | ||||||||||||||||||||||||||||||||||||
net cash used by operating activities | ||||||||||||||||||||||||||||||||||||
net proceeds from issuance of common stock | ||||||||||||||||||||||||||||||||||||
fixed asset purchases in account payable | ||||||||||||||||||||||||||||||||||||
supplemental disclosures of non—cash financing and investing activities: | ||||||||||||||||||||||||||||||||||||
fixed asset purchases in accounts payable at quarter-end | ||||||||||||||||||||||||||||||||||||
cash from investing activities: | ||||||||||||||||||||||||||||||||||||
stock issued for consulting services in connection with the merger | 0 | 0 | ||||||||||||||||||||||||||||||||||
fair value adjustment on preferred stock warrant liability | 0 | 0 | ||||||||||||||||||||||||||||||||||
loss on conversion of convertible notes | 0 | 0 | ||||||||||||||||||||||||||||||||||
cash acquired from the merger transaction | 0 | 0 | ||||||||||||||||||||||||||||||||||
proceeds from issuance of convertible promissory notes | 0 | 0 | ||||||||||||||||||||||||||||||||||
principle payments term loan | ||||||||||||||||||||||||||||||||||||
conversion of convertible notes and accrued interest into common stock | 0 | 0 | ||||||||||||||||||||||||||||||||||
conversion of 2015 bridge notes into common stock | ||||||||||||||||||||||||||||||||||||
fair value of assets and liabilities acquired in the merger: | ||||||||||||||||||||||||||||||||||||
fair value of assets acquired in merger | 0 | 0 | ||||||||||||||||||||||||||||||||||
fair value of liabilities assumed in merger | 0 | 0 | ||||||||||||||||||||||||||||||||||
fair value of net assets acquired in the merger | 0 | 0 | ||||||||||||||||||||||||||||||||||
proceeds from issuance of term loan | 0 | 0 | ||||||||||||||||||||||||||||||||||
supplemental disclosures of non - cash financing and investing activities: | ||||||||||||||||||||||||||||||||||||
payments for issuance of term loan | ||||||||||||||||||||||||||||||||||||
net increase in cash | -4,149,000 | -3,124,000 | -3,481,000 | |||||||||||||||||||||||||||||||||
cash — beginning of period | 18,902,000 | 0 | 0 | |||||||||||||||||||||||||||||||||
cash — end of period | 14,753,000 | -3,124,000 | -3,481,000 | |||||||||||||||||||||||||||||||||
proceeds from extinguishment of debt and repurchase of series b preferred stock | ||||||||||||||||||||||||||||||||||||
promissory note issuance proceeds allocated to beneficial conversion feature | ||||||||||||||||||||||||||||||||||||
promissory note issuance proceeds allocated to preferred stock warrants | ||||||||||||||||||||||||||||||||||||
conversion of notes payable and accrued interest into convertible preferred stock | ||||||||||||||||||||||||||||||||||||
accretion of redeemable preferred stock | ||||||||||||||||||||||||||||||||||||
warrant extinguishment |
