Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
Common Shares
2025 Convertible Notes
Common Shares
2025 notes and Q3 notes conversions
Common Shares
EOS conversion
Common Shares
Additional Paid-in Capital
2025 Convertible Notes
Additional Paid-in Capital
2025 notes and Q3 notes conversions
Additional Paid-in Capital
EOS conversion
Additional Paid-in Capital
Accumulated Deficit
2025 Convertible Notes
2025 notes and Q3 notes conversions
EOS conversion
Total
Balance at Dec. 31, 2023                         $ 247,000
Balance (in shares) at Dec. 31, 2023                         38,335
Convertible Preferred Stock                          
Issuance of Series B preferred stock in connection with warrant exercise, net of discounts                         $ 386,000
Issuance of Series B preferred stock in connection with warrant exercise, net of discounts (in shares)                         29,322
Issuance of common stock in connection with conversion of Series B preferred stock                         $ (325,000)
Issuance of common stock in connection with conversion of Series B preferred stock (in shares)                         (5,000)
Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock                         $ 5,842,000
Repurchase of Series B preferred stock and Series B preferred stock warrants                         $ (6,266,000)
Repurchase of Series B preferred stock and Series B preferred stock warrants (in shares)                         (62,657)
Balance (Accounting Standards Update 2020-06) at Mar. 31, 2024                         $ 116,000
Balance at Dec. 31, 2023       $ 1,000       $ 241,884,000 $ (247,042,000)       (5,157,000)
Balance (in shares) at Dec. 31, 2023       222,380                  
Equity                          
Stock-based compensation               380,000         380,000
Stock-based compensation (in shares)       4                  
Issuance of common stock for conversions               325,000         325,000
Issuance of common stock for conversions (in shares)       8,038                  
Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock               (5,842,000)         (5,842,000)
Repurchase of Series B preferred stock and Series B preferred stock warrants               824,000         824,000
Issuance of common stock, pre-funded units and warrants, net of offering costs               4,210,000         4,210,000
Issuance of common stock, pre-funded units and warrants, net of offering costs (in shares)       1,442,518                  
Issuance of common stock in connection with reverse split rounding-up for fractional shares (in shares)       84,255                  
Net loss                 2,707,000       2,707,000
Balance (Accounting Standards Update 2020-06) at Mar. 31, 2024               (116,000)         (116,000)
Balance at Mar. 31, 2024       $ 1,000       241,665,000 (244,335,000)       (2,669,000)
Balance (in shares) at Mar. 31, 2024       1,757,195                  
Balance at Dec. 31, 2023                         $ 247,000
Balance (in shares) at Dec. 31, 2023                         38,335
Balance at Dec. 31, 2023       $ 1,000       241,884,000 (247,042,000)       $ (5,157,000)
Balance (in shares) at Dec. 31, 2023       222,380                  
Equity                          
Issuance of common stock to vendors                         600,000
Conversion of liability warrants to equity warrants                         41,851,000
Net loss                         (45,050,000)
Balance at Sep. 30, 2024       $ 1,000       296,386,000 (292,092,000)       4,295,000
Balance (in shares) at Sep. 30, 2024       7,767,829                  
Balance at Dec. 31, 2023                         $ 247,000
Balance (in shares) at Dec. 31, 2023                         38,335
Balance (in shares) at Dec. 31, 2024                         0
Balance at Dec. 31, 2023       $ 1,000       241,884,000 (247,042,000)       $ (5,157,000)
Balance (in shares) at Dec. 31, 2023       222,380                  
Equity                          
Issuance of common stock for the acquisition of CSI (shares)                         40,000,000
Balance at Dec. 31, 2024       $ 5,000       384,172,000 (298,451,000)       $ 85,726,000 [1]
Balance (in shares) at Dec. 31, 2024       52,034,060                  
Balance at Mar. 31, 2024       $ 1,000       241,665,000 (244,335,000)       (2,669,000)
Balance (in shares) at Mar. 31, 2024       1,757,195                  
Equity                          
Stock-based compensation               241,000         241,000
Stock-based compensation (in shares)       255,915                  
Issuance of common stock in connection with the February Offering               8,756,000         8,756,000
Issuance of common stock in connection with the February Offering (in shares)       2,466,583                  
Issuance of common stock in connection with warrant exercise       $ 441,822       556,000         556,000
Issuance of common stock to vendors               360,000         360,000
Restricted stock awards cancelled       (82)                  
Release of vested restricted common stock       1                  
Conversion of liability warrants to equity warrants               41,851,000         41,851,000
Net loss                 (42,665,000)       (42,665,000)
Balance at Jun. 30, 2024       $ 1,000       293,429,000 (287,000,000)       6,430,000
Balance (in shares) at Jun. 30, 2024       4,921,434                  
Equity                          
Stock-based compensation               $ 345,000         $ 345,000
Stock-based compensation (in shares)       532,973                  
Issuance of common stock in connection with warrant exercise (in shares)       1,193,721       2,372,000         2,372,000
Stock Issued In Connection With Amendment To Warrant Agreement       887,356                  
Issuance of common stock to vendors               $ 240,000         $ 240,000
Issuance of common stock to vendors (in shares)       236,204                  
Restricted stock awards cancelled       (3,859)                  
Net loss                 (5,092,000)       (5,092,000)
Balance at Sep. 30, 2024       $ 1,000       296,386,000 (292,092,000)       4,295,000
Balance (in shares) at Sep. 30, 2024       7,767,829                  
Balance at Dec. 31, 2024       $ 5,000       384,172,000 (298,451,000)       85,726,000 [1]
Balance (in shares) at Dec. 31, 2024       52,034,060                  
Equity                          
Stock-based compensation               648,000         648,000
Stock-based compensation (in shares)       5,986,893                  
Issuance of common stock in connection with the February Offering       $ 1,000       4,859,000         4,860,000
Issuance of common stock in connection with the February Offering (in shares)       4,757,126                  
Issuance of common stock in connection with warrant exercise (in shares)       3,246,111                  
Conversion of liability warrants to equity warrants               15,000         15,000
Net loss                 (9,563,000)       (9,563,000)
Balance at Mar. 31, 2025       $ 6,000       389,694,000 (308,014,000)       $ 81,686,000
Balance (in shares) at Mar. 31, 2025       66,024,190                  
Balance (in shares) at Dec. 31, 2024                         0
Balance (in shares) at Sep. 30, 2025                         0
Balance at Dec. 31, 2024       $ 5,000       384,172,000 (298,451,000)       $ 85,726,000 [1]
Balance (in shares) at Dec. 31, 2024       52,034,060                  
Equity                          
Issuance of common stock in connection with warrant exercise (in shares)                         6,235,998
Net loss                         $ (79,655,000)
Balance at Sep. 30, 2025       $ 22,000       477,592,000 (378,106,000)       99,508,000
Balance (in shares) at Sep. 30, 2025       217,201,387                  
Balance at Mar. 31, 2025       $ 6,000       389,694,000 (308,014,000)       81,686,000
Balance (in shares) at Mar. 31, 2025       66,024,190                  
Equity                          
Stock-based compensation               1,151,000         1,151,000
Stock-based compensation (in shares)       3,701,197                  
Issuance of common stock with NYIAX transaction (in shares)       1,500,000                  
Issuance of common stock in connection with warrant exercise (in shares)       2,989,887                  
Issuance of common stock for the acquisition of CSI       $ 1,000       10,282,000         10,283,000
Issuance of common stock for the acquisition of CSI (shares)       10,600,000                  
Issuance of common stock for conversions         $ 1,545,000         $ 1,545,000      
Issuance of common stock for conversions (in shares) 1,845,945                        
Equity issuance costs               (137,000)         (137,000)
Net loss                 (37,116,000)       (37,116,000)
Balance at Jun. 30, 2025       $ 7,000       419,192,000 (345,130,000)       $ 74,069,000
Balance (in shares) at Jun. 30, 2025       86,661,219                  
Balance (in shares) at Sep. 30, 2025                         0
Equity                          
Stock-based compensation               2,591,000         $ 2,591,000
Stock-based compensation (in shares)       1,253,313                  
Issuance of common stock with NYIAX transaction       $ (1,000)       (4,893,000)         (4,894,000)
Issuance of common stock with NYIAX transaction (in shares)       (3,280,000)                  
Issuance of common stock for conversions   $ 10,000 $ 1,000     $ 33,213,000 $ 3,099,000       $ 33,223,000 $ 3,100,000  
Issuance of common stock for conversions (in shares)   95,506,855 10,000,000                    
Issuance of common stock in connection with Scilex investment       $ 2,000       7,836,000         7,838,000
Issuance of common stock in connection with Scilex investment (in shares)       15,000,000                  
Adjustments to Additional Paid in Capital, Warrant Issued               16,657,000         16,657,000
Issuance of common stock for the acquisition of intangible assets       $ 1,000       3,484,000         $ 3,485,000
Issuance of common stock for the acquisition of intangible assets (in shares)       5,500,000                 5,500,000
Exchange of warrants for common stock with the 10% notes extinguishment               3,665,000         $ 3,665,000
Equity issuance costs               (381,000)         (381,000)
Net loss                 (32,976,000)       (32,976,000)
Balance at Sep. 30, 2025       $ 22,000       $ 477,592,000 $ (378,106,000)       $ 99,508,000
Balance (in shares) at Sep. 30, 2025       217,201,387                  
[1] The condensed consolidated balance sheet as of December 31, 2024 was derived from the audited consolidated balance sheet as of that date.