v3.25.2
Condensed Statements of Changes in Stockholders' Equity (Deficiency) - USD ($)
Preferred Stock
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Balance at the beginning (in shares) at Dec. 31, 2023   569,409      
Balance at the beginning at Dec. 31, 2023   $ 57 $ 154,490,596 $ (145,491,559) $ 8,999,094
Issuance of common stock in At the Market offering (in shares) [1]   22,917      
Issuance of common stock in At the Market offering [1]   $ 2 3,194,545   3,194,547
Stock-based compensation     546,232   546,232
Net loss       (10,922,101) (10,922,101)
Balance at the end (in shares) at Mar. 31, 2024   592,326      
Balance at the end at Mar. 31, 2024   $ 59 158,231,373 (156,413,660) 1,817,772
Balance at the beginning (in shares) at Dec. 31, 2023   569,409      
Balance at the beginning at Dec. 31, 2023   $ 57 154,490,596 (145,491,559) 8,999,094
Net loss         (21,975,800)
Balance at the end (in shares) at Jun. 30, 2024   697,720      
Balance at the end at Jun. 30, 2024   $ 70 165,097,386 (167,467,359) (2,369,903)
Balance at the beginning (in shares) at Mar. 31, 2024   592,326      
Balance at the beginning at Mar. 31, 2024   $ 59 158,231,373 (156,413,660) 1,817,772
Issuance of common stock in registered direct offering (in shares) [2]   40,297      
Issuance of common stock in registered direct offering [2]   $ 4 1,888,825   1,888,829
Issuance of common stock as consideration for licensing agreement (in shares) [3]   7,669      
Issuance of common stock as consideration for licensing agreement [3]   $ 1 436,808   436,809
Issuance of common stock as consideration for reacquisition of licensing agreement (in shares) [4]   28,742      
Issuance of common stock as consideration for reacquisition of licensing agreement [4]   $ 3 2,322,388   2,322,391
Issuance of common stock in At the Market offering (in shares) [5]   28,687      
Issuance of common stock in At the Market offering [5]   $ 3 1,676,936   1,676,939
Stock-based compensation     541,056   541,056
Net loss       (11,053,699) (11,053,699)
Balance at the end (in shares) at Jun. 30, 2024   697,720      
Balance at the end at Jun. 30, 2024   $ 70 165,097,386 (167,467,359) (2,369,903)
Balance at the beginning (in shares) at Dec. 31, 2024   1,506,369      
Balance at the beginning at Dec. 31, 2024   $ 151 182,213,889 (195,309,992) (13,095,952)
Issuance of common stock in At the Market offering (in shares) [6]   1,127,100      
Issuance of common stock in At the Market offering [6]   $ 113 5,663,153   5,663,266
Induced exercise of stock warrants (in shares) [7]   197,118      
Induced exercise of stock warrants [7]   $ 19 922,731   922,750
Reverse stock split settlement of fractional shares (in shares)   (41)      
Reverse stock split settlement of fractional shares     (160)   (160)
Stock-based compensation     279,628   279,628
Net loss       (3,483,533) (3,483,533)
Balance at the end (in shares) at Mar. 31, 2025   2,830,546      
Balance at the end at Mar. 31, 2025   $ 283 189,079,241 (198,793,525) (9,714,001)
Balance at the beginning (in shares) at Dec. 31, 2024   1,506,369      
Balance at the beginning at Dec. 31, 2024   $ 151 182,213,889 (195,309,992) (13,095,952)
Warrant modification and additional warrants - incremental value         $ 1,194,102
Issuance of common stock and warrants in offerings (in shares)         2,450,489
Net loss         $ (12,174,452)
Balance at the end (in shares) at Jun. 30, 2025 5,435,897 4,854,827      
Balance at the end at Jun. 30, 2025 $ 544 $ 485 244,841,981 (207,484,444) 37,358,566
Balance at the beginning (in shares) at Mar. 31, 2025   2,830,546      
Balance at the beginning at Mar. 31, 2025   $ 283 189,079,241 (198,793,525) (9,714,001)
Issuance of preferred stock and warrants in private placement (in shares) [8] 5,435,897        
Issuance of preferred stock and warrants in private placement [8] $ 544   49,365,206   49,365,750
Issuance of common stock in At the Market offering (in shares) [9]   1,323,389      
Issuance of common stock in At the Market offering [9]   $ 132 2,559,008   2,559,140
Issuance of common stock from exercise of warrants (in shares)   252,000      
Issuance of common stock from exercise of warrants   $ 25 1,953,479   1,953,504
Issuance of common stock from the delivery of vested restricted stock units (in shares)   44,072      
Issuance of common stock from the delivery of vested restricted stock units   $ 4 (4)    
Issuance of common stock from the partial conversion of note payable (in shares) [4]   404,820      
Issuance of common stock from the partial conversion of note payable [4]   $ 41 640,295   640,336
Warrant modification and additional warrants - incremental value     858,270   $ 858,270
Issuance of common stock and warrants in offerings (in shares)         1,323,389
Stock-based compensation [5]     483,654   $ 483,654
Net loss       (8,690,919) (8,690,919)
Preferred stock dividend     (97,167)   (97,167)
Balance at the end (in shares) at Jun. 30, 2025 5,435,897 4,854,827      
Balance at the end at Jun. 30, 2025 $ 544 $ 485 $ 244,841,981 $ (207,484,444) $ 37,358,566
[1] Includes gross proceeds of $3,293,347 less total issuance costs of $98,800.
[2] Includes gross proceeds of $2,000,000 less total issuance costs of $111,171.
[3] Shares issued as partial consideration for License Agreement with Formosa Pharmaceuticals Inc.
[4] Shares issued in partial consideration for reversion of License Agreement with Bausch & Lomb Ireland Limited.
[5] Includes gross proceeds of $1,728,804 less total issuance costs of $51,865.
[6] Includes gross proceeds of $5,851,007 less total issuance costs of $187,741.
[7] Includes gross proceeds of $1,039,206 less total issuance costs of $116,456. Also note that incremental value and non-cash warrant modification and additional warrants issuance costs related to the warrant inducement entered into on January 16, 2025 offset to a zero balance. See Note 11 - Stockholders’ Equity (Deficiency).
[8] Includes gross proceeds of $50,000,000 less total issuance costs of $634,250.
[9] Includes gross proceeds of $2,657,659 less total issuance costs of $98,519.