v3.25.2
Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes stock-based activities under the 2017 Plan, 2019 Plan, and 2023 Stock Incentive Plans:

  

       Weighted   Weighted 
   Shares   Average   Average 
   Underlying   Exercise   Contractual 
   Options   Price   Terms 
             
Outstanding at December 31, 2024   108,955   $70.46    9.5 years 
Granted   133,833   $1.93    9.6 years 
Forfeited   (582)  $2.93    9.1 years 
Outstanding at June 30, 2025   242,206   $32.75    9.3 years 
                
Exercisable options at June 30, 2025   239,033   $33.15    9.3 years 
                
Vested and expected to vest at June 30, 2025   242,206   $32.75    9.3 years 
Schedule of Options Weighted Average Assumptions

Stock options granted during the six months ended June 30, 2025 were valued using the Black-Scholes option-pricing model with the following weighted-average assumptions.

  

   For the six months ended June 30, 
   2025   2024 
Expected volatility   102.3%   N/A 
Risk-free interest rate   4.61%   N/A 
Expected dividend yield   0%   N/A 
Expected life of options in years   5.0    N/A 
Estimated fair value of options granted  $1.50    N/A 
Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense included in the accompanying condensed consolidated statements of operations was as follows:

  

             
  

For the three months ended

June 30,

  

For the six months ended

June 30,

 
   2025   2024   2025   2024 
Research and development  $262,033   $77,809   $355,898   $155,577 
General and administrative   305,603    75,838    430,917    151,689 
Total stock-based compensation  $567,636   $153,647   $786,815   $307,266 
Schedule of Warrants

Terms of the warrants outstanding at June 30, 2025 are as follows:

  

   Initial  Expiration  Exercise   Warrants   Warrants   Warrants 
Issuance Date  Exercise Date  Date  Price   Issued   Exercised   Outstanding 
                       
January 14, 2022  July 10, 2022  January 11, 2027  $1,875.00    500    -    500 
                           
May 2, 2023  November 2, 2023  May 2, 2028  $234.375    424    -    424 
                           
November 30, 2023  May 27, 2024  May 2, 2028  $18.75    20,000    -    20,000 
                           
June 21, 2024  June 21, 2024  N/A  $0.001    452,253    369,190    83,063 
                           
June 21, 2024  June 21, 2024  December 21, 2029  $3.09    329,771    -    329,771 
                           
June 21, 2024  June 21, 2024  December 21, 2029  $3.09    19,786    -    19,786 
                           
December 9, 2024  June 9, 2025  December 9, 2030  $2.031    480,721    -    480,721 
                           
December 9, 2024  December 9, 2024  N/A  $0.001    491,157    491,157    - 
                           
June 13, 2025  June 13, 2025  N/A  $0.001    137,838    -    137,838 
                           
June 13, 2025  December 13, 2025  June 13, 2031  $1.48    1,689,189    -    1,689,189 
                           
June 13, 2025  December 13, 2025  June 13, 2031  $3.00    844,570    -    844,570