v3.25.2
Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Equity-Based Compensation [Abstract]  
Schedule of Weighted Average Assumptions Used in the Black-Scholes Model

Weighted average assumptions used in the Black-Scholes model are set forth below:

 

    Six Months Ended
June 30,
2025		    Six Months Ended
June 30,
2024		 
Risk-free interest rate   4.18%  - 4.40%   4.09% - 4.83%
Dividend yield   
-
    
-
 
Expected term (years)   5.27-5.31    5.27 - 5.31 
Volatility   73.0% - 75.4%   76.4% - 77.7%
Schedule of Activity Under the Plans

Activity under the Plans for the period from December 31, 2024 to June 30, 2025 is set forth below:

 

   Number
Outstanding		   Weighted-Average
Exercise
Price Per
Share		   Weighted-Average
Remaining
Contractual Life
(Years)		   Aggregate
Intrinsic Value		 
Outstanding at December 31, 2024   156,334   $13.20    8.35   $420,720 
Granted   280,000    19.78    9.57    
-
 
Exercised   (3,333)   9.60    
-
    
-
 
Canceled/forfeited/expired   
-
    
-
    
-
    
-
 
Outstanding at June 30, 2025   433,001   $17.48    8.97   $190,834 
                     
Options vested and exercisable at June 30, 2025   150,218   $14.58    8.11   $165,989 
Options vested and expected to vest as of June 30, 2025   433,001   $17.48    8.97   $190,834 
Schedule of Equity-Based Compensation Expense

Total equity-based compensation expense and the allocation of equity-based compensation for the periods presented below were as follows:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2025   2024   2025   2024 
                 
General and administrative  $505,018   $96,268   $781,847   $163,297 
Research and development   87,626    96,852    359,562    192,554 
Total equity-based compensation  $592,644   $193,120   $1,141,409   $355,851