Commitments and Contingencies (Tables)
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3 Months Ended |
12 Months Ended |
Mar. 31, 2025 |
Dec. 31, 2024 |
| Commitments and Contingencies [Abstract] |
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| Schedule of Milestone Payments |
on December 31, 2024, prepaid expense and other current assets – current amounted to $5,000 and
prepaid expense – non-current amounted to $50,625, which has been included in prepaid expenses and other current assets
and prepaid expenses and other assets – non-current on the unaudited consolidated balance sheets. | Milestone | | Payment | | | Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product | | $ | 50,000 | | | Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product | | $ | 100,000 | | | Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product | | $ | 250,000 | | | Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product | | $ | 500,000 | | | Achievement of First Commercial Sale of Licensed Product | | $ | 1,000,000 | |
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On December 31, 2023, prepaid expense and other current assets – current amounted
to $5,000 and prepaid expense – non-current amounted to $55,625. | Milestone | | Payment | | | Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product | | $ | 50,000 | | | Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product | | $ | 100,000 | | | Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product | | $ | 250,000 | | | Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product | | $ | 500,000 | | | Achievement of First Commercial Sale of Licensed Product | | $ | 1,000,000 | |
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| Schedule of Minimum Annual Royalty Payments |
minimum annual royalty payments, as follows: | Years | | Minimum
Annual
Royalty | | | Prior to First Commercial Sale | | $ | N/A | | | Year of First Commercial Sale | | $ | N/A | | | First calendar year following the First Commercial Sale | | $ | 25,000 | | | Second calendar year following the First Commercial Sale | | $ | 25,000 | | | Third calendar year following the First Commercial Sale | | $ | 100,000 | |
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minimum annual royalty payments, as follows: | Years | | Minimum
Annual
Royalty | | | Prior to First Commercial Sale | | $ | N/A | | | Year of First Commercial Sale | | $ | N/A | | | First calendar year following the First Commercial Sale | | $ | 25,000 | | | Second calendar year following the First Commercial Sale | | $ | 25,000 | | | Third calendar year following the First Commercial Sale | | $ | 100,000 | |
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| Schedule of Future Amounts Due Under Sponsored Study and Research Agreements |
On March 31, 2025, future amounts due under
sponsored study and research agreements between the Company and vendors is as follows:
| Year ended March 31, | |
Amount | |
| 2025 | |
$ | 1,572,529 | |
| Total | |
$ | 1,572,529 | |
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On December 31, 2024, future amounts due under
sponsored study and research agreements between the Company and vendors is as follows:
| Year ended December 31, | |
Amount | |
| 2025 | |
$ | 3,310,736 | |
| Total | |
$ | 3,310,736 | |
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