RELATED PARTY TRANSACTIONS |
6 Months Ended |
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Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 8: RELATED PARTY TRANSACTIONS
On December 1, 2023, the Company entered into a consulting agreement with Biodesix, Inc. (the “Biodesix Agreement”) to assist with our miRNA product pipeline. Jack Schuler, a beneficial owner of more than 5% of the Company’s stock, is also a beneficial owner of more than 10% of the stock of Biodesix, Inc. Since the inception of the Biodesix Agreement, the Company has recorded $125,000 in costs under the Biodesix Agreement as research and development expense in our consolidated financial statement of operations. As of June 30, 2025, the Company had no current liabilities recorded on its unaudited condensed consolidated balance sheet for Biodesix.
On March 5, 2025, the Company entered into the March 2025 Private Placement with the Purchasers for the issuance and sale of Convertible Notes. The Convertible Notes, including interest accrued, were converted into units consisting of share of common stock and 2.25 warrants on March 12, 2025. Jack Schuler purchased $ of the Convertible Notes.
The Purchasers are entitled to three representatives on the Company’s board of directors. Two of the Purchasers have exercised that right. On April 2, 2025, the Board of Directors (the “Board”) of the Company appointed Jeffrey Cohen, M.D. as a director of the Company. The Board appointed John Fraser as a director of the Company on April 6, 2025.
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