Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenue $ 859 $ 508 $ 1,546 $ 1,047
Costs of revenue 224 104 447 222
Gross profit 635 404 1,099 825
Operating expenses:        
Research and development 1,677 2,148 3,696 4,364
General and administrative 1,072 1,168 2,195 2,323
Sales and marketing 256 308 502 618
Grant and contract expenses 340 244 613 540
Total operating expenses 3,345 3,868 7,006 7,845
Loss from operations (2,710) (3,464) (5,907) (7,020)
Other income (expenses):        
Interest expense (4) (6) (2)
Interest income 23 47 42 84
Gain on disposal of equipment 12 12
Change in fair value of derivative liabilities 448 965 3,286 4,971
Offering costs of derivative liabilities (550) (786)
Other income, net 27 (3) 33 5
Total other income (expense), net 506 1,009 2,817 4,272
Net loss before income taxes (2,204) (2,455) (3,090) (2,748)
Provision for income taxes
Net loss (2,204) (2,455) (3,090) (2,748)
Deemed dividend related to convertible preferred stock (26) (26)
Net loss attributable to common stockholders $ (2,204) $ (2,481) $ (3,090) $ (2,774)
Net loss per share – basic and diluted        
Basic – net loss $ (3.49) $ (120.63) $ (8.61) $ (173.02)
Basic – deemed dividend on conversion of preferred stock (1.28) (1.64)
Basic – attributable to common stockholders (3.49) (121.91) (8.61) (174.66)
Diluted – net loss (3.61) (154.13) (13.62) (445.06)
Diluted - deemed dividend on conversion of preferred stock (1.17) (1.58)
Diluted – attributable to common stockholders $ (3.61) $ (155.30) $ (13.62) $ (446.64)
Weighted average common shares outstanding:        
Basic 631,212 20,351 358,763 15,883
Diluted 697,868 22,183 467,756 16,413
Product [Member]        
Total revenue $ 378 $ 235 $ 687 $ 475
Grant and Contract [Member]        
Total revenue $ 481 $ 273 $ 859 $ 572