Q1 2026 cash and marketable securities were 29.3 million dollars, before net proceeds of approximately 168.6 million dollars from the April 2026 private placement; additional approval‑linked warrants could add up to 174 million dollars more.
Convertible term debt totals 15 million dollars, interest‑only through mid‑2026, maturing 2028. This capital stack comfortably funds the manufacturing transition, sNDA‑enabling work for vaping, and initial commercialization.







