Financials

v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,107,078 $ 4,399,726
Short-term investment 4,000,000
Interest receivable 53,082
Prepaid expenses and other current assets 1,382,558 1,614,956
Total current assets 7,489,636 10,067,764
Total assets 7,489,636 10,067,764
Current liabilities:    
Accounts payable and accrued expenses 1,251,744 1,559,011
Short-term notes payable, net of debt issuance costs 56,134 227,348
Total liabilities 1,307,878 1,786,359
Stockholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 428,291 Series H and 7,488,692 Series F outstanding at March 31, 2026, and 429,291 Series H and 7,488,692 Series F outstanding at December 31, 2025.
Common stock, $0.001 par value; 350,000,000 shares authorized; 4,375,729 and 4,271,529 shares issued and outstanding at March 31, 2026, and December 31, 2025, respectively 4,375 4,271
Additional paid-in capital 235,007,285 234,905,793
Accumulated deficit (228,829,902) (226,628,659)
Total stockholders’ equity 6,181,758 8,281,405
Total liabilities and stockholders’ equity $ 7,489,636 $ 10,067,764

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL
v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating expenses:    
Research and development $ 645,470 $ 341,542
General and administrative 1,610,457 1,684,685
Total operating expenses 2,255,927 2,026,227
Loss from operations (2,255,927) (2,026,227)
Other income (expense):    
Interest income 40,876 10,203
Interest expense (3,727) (199,127)
Foreign currency exchange net (5,090) (1,842)
Total other income (expense), net 32,059 (190,766)
Loss before income taxes (2,223,868) (2,216,993)
Income tax benefit 22,625
Net loss $ (2,201,243) $ (2,216,993)
Basic net loss per share $ (0.51) $ (3.65)
Diluted net loss per share $ (0.51) $ (3.65)
Weight-average shares outstanding, basic 4,300,980 607,208
Weight-average shares outstanding, diluted 4,300,980 607,208

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL
v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (2,201,243) $ (2,216,993)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and closing costs 192,859
Stock-based compensation expense 17,386 17,706
Stock-based compensation recapture expense (86,470)
Common stock issued for services 5,000
Changes in operating assets and liabilities:    
Income receivables 53,082
Prepaid expenses and other current assets 232,398 159,637
Accounts payable and accrued expenses (307,267) (178,829)
Net cash used in operating activities (2,200,644) (2,112,090)
Cash flows from investing activities:    
Proceed from sale of short-term investments 4,000,000
Net cash provided by investing activities 4,000,000
Cash flows from financing activities:    
Borrowings on short-term notes payable 2,228,563
Payments on short-term notes payable (171,214) (195,565)
Net proceeds from issuance of common stock 79,210 2,635,330
Net cash (used) provided by financing activities (92,004) 4,668,328
Net increase in cash and cash equivalents 1,707,352 2,556,238
Cash and cash equivalents at beginning of period 4,399,726 864,840
Cash and cash equivalents at end of period 6,107,078 3,421,078
Supplemental disclosure of cash flow information:    
Interest paid $ 3,727 $ 6,268

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL