v3.26.1
Stockholder Equity (Tables)
3 Months Ended
Mar. 31, 2026
Stockholder Equity  
Schedule of stock based compensation related to stock option and RSU expected to vest present in operations

 

 

Three Months Ended

 

 

 

March 31,

2026

 

 

March 31,

2025

 

Research and development

 

$38,635

 

 

$63,803

 

Compensation and related expenses

 

 

1,141,554

 

 

 

645,660

 

General and administrative expenses

 

 

147,237

 

 

 

-

 

Total expense

 

$1,327,426

 

 

$709,463

 

Schedule of stock option activity

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Aggregate

 

 

Remaining

 

 

 

Shares

 

 

Exercise

Price

 

 

Intrinsic

Value

 

 

Contractual

Life (Years)

 

Options outstanding at December 31, 2025

 

 

1,708,637*

 

$6.88

 

 

$272,680

 

 

 

7.28

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Exercised

 

 

(300,000 )

 

 

1.13

 

 

 

542,000

 

 

 

-

 

Expired/forfeited

 

 

(340,395 )

 

 

9.06

 

 

 

-

 

 

 

-

 

Options outstanding at March 31, 2026

 

 

1,068,242*

 

$7.80

 

 

$14,280

 

 

 

8.36

 

Options exercisable at March 31, 2026

 

 

738,372*

 

$8.70

 

 

$-

 

 

 

8.07

 

Schedule of stock option assumptions

 

 

March 31,

 

 

 

2025

 

Expected volatility

 

67.81 – 69.25%

 

Expected term (years)

 

6.25 Years

 

Risk-free rate

 

4.14 - 4.51%

 

Dividend rate

 

 

0.00%

Schedule of outstanding Unvested restricted stock

 

 

 

 

Weighted-

Average

 

 

 

 

 

Grant Date

 

 

 

Amount

 

 

Fair Value

 

Unvested, December 31, 2025

 

 

593,487

 

 

$5.02

 

Vested

 

 

(166,221)

 

 

5.45

 

Forfeited

 

 

(153,545)

 

 

5.35

 

Unvested, March 31, 2026

 

 

273,721

 

 

$4.58

 

A summary of our outstanding unvested performance-based RSUs during the three months ended March 31, 2026  is as follows:

 

 

 

 

Weighted-

Average

 

 

 

 

 

Grant Date

 

 

 

Amount

 

 

Fair Value

 

Unvested, December 31, 2025

 

 

271,809

 

 

$5.22

 

Forfeited

 

 

(129,914)

 

 

6.04

 

Unvested, March 31, 2026

 

 

141,895

 

 

$4.48

 

Schedule of warrant activity

 

 

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Aggregate

Intrinsic

Value

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

Outstanding and exercisable at December 31, 2025

 

 

877,524

 

 

 

2.06

 

 

$90,917

 

 

 

3.88

 

Issued with convertible notes (Note 5)

 

 

160,000

 

 

 

7.50

 

 

 

-

 

 

 

-

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding and exercisable at March 31, 2026

 

 

1,037,524

 

 

 

2.90

 

 

$784,936

 

 

 

3.53