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DE 20-8527075 7770 Regents Road Suite 113-618 San Diego CA 92122 (858) 550-1900 Yes Yes Non-accelerated Filer true false false 0.0001 132530081 1491000 888000 578000 560000 12480000 1890000 1129000 1227000 1097000 6056000 15284000 416000 418000 150000 182000 778000 4348000 42000 42000 7442000 20274000 12003000 13153000 18080000 20097000 843000 1352000 33384000 32770000 33384000 32770000 147000 1205000 1292000 1495000 2587000 123000 128000 1168000 1006000 220000 272000 10231000 12016000 78752000 84820000 27000 54000 1375000 4837000 80154000 89711000 0.0001 0.0001 10000 10000 95000 95000 5000 5000 2588 2588 2412 2412 26280 26280 26280 26280 1561 1561 1618 1618 4918000 4899000 4918000 4899000 0.0001 0.0001 5000000 5000000 0 0 0 0 0.0001 0.0001 3000000000 3000000000 132530081 132530081 126685925 126685925 13000 13000 831875000 831859000 -6643000 -8818000 -902875000 -897390000 -77630000 -74336000 7442000 20274000 899000 845000 410000 365000 75000 223000 518000 -5035000 2093000 2600000 2372000 2365000 5468000 518000 -4569000 327000 2000 8000 737000 600000 -162000 1221000 -897000 629000 -5466000 956000 -1000 -5465000 956000 20000 3000 -5485000 953000 -0.04 0.01 -0.04 0.00 133246864 118164046 133246864 6155035291 -5465000 956000 2175000 647000 -3290000 1603000 2412 2077000 26280 2803000 1618 19000 126685925 13000 831859000 -8818000 -897390000 -74336000 -90 -1000 5844156 1000 1000 15000 15000 2175000 2175000 176 17000 33 3000 -20000 -20000 -5465000 -5465000 2588 2094000 26280 2803000 1561 21000 132530081 13000 831875000 -6643000 -902875000 -77630000 2068 1979000 26280 2803000 113356354 11000 829026000 -2630000 -897664000 -71257000 2068 1979000 26280 2803000 113356354 11000 829026000 -2630000 -897664000 -71257000 70000 70000 647000 647000 53 3000 -3000 -3000 956000 956000 2121 1982000 26280 2803000 113356354 11000 829096000 -1983000 -896711000 -69587000 2121 1982000 26280 2803000 113356354 11000 829096000 -1983000 -896711000 -69587000 -5465000 956000 -162000 1221000 192000 178000 58000 25000 15000 70000 4000 6000 75000 223000 614000 577000 32000 37000 -17000 5607000 -11920000 -8683000 761000 864000 130000 -107000 -1605000 -1776000 -1636000 34000 -1092000 -849000 -50000 -32000 -36000 2301000 560000 57000 2000 -2000 -57000 498000 135000 -498000 -135000 1801000 368000 578000 741000 2379000 1109000 3495000 2887000 20000 3000 1000 <p id="xdx_801_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zH1pg3Le6W57" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_001"></span>1. <span id="xdx_827_zpNVvOUiEV5i">Description of Business and Basis of Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of Business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evofem is a San Diego-based commercial-stage biopharmaceutical company committed to commercializing innovative products to address unmet needs in women’s sexual and reproductive health.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s first commercial product, PHEXX^®, was approved by the FDA on May 22, 2020, for the prevention of pregnancy and launched in the U.S. in September 2020. PHEXX is the first and only non-hormonal prescription contraceptive vaginal gel. Women use it when they have sex, applying PHEXX 0-60 minutes prior to intercourse. Because PHEXX is hormone-free and non-systemic, it is not associated with side effects of hormonal contraceptive methods, which include depression, weight gain, headaches, loss of libido, mood swings and irritability. Taking hormones may not be right for some women, especially those with certain medical conditions including clotting disorders, hormone-sensitive cancers, diabetes, or a BMI over 30, as well as women who are breast feeding, and / or who smoke. Per the National Center for Health Statistics (NCHS), based on data from the 2022-2023 National Survey of Family Growth, approximately 15.9 million women¹ in the U.S. do not want to get pregnant and will not use a hormonal contraceptive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquired global rights to SOLOSEC^® on July 14, 2024 and relaunched the brand in November 2024. SOLOSEC is an FDA-approved single-dose oral antimicrobial agent that provides a complete course of therapy for the treatment of two common sexual health infections – bacterial vaginosis (BV) and trichomoniasis. This acquisition aligns with and advances the Company’s mission to commercialize innovative and differentiated products for women’s sexual and reproductive health.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outside the U.S., the Company’s strategy is to commercialize its products in global markets through commercial partnerships and/or license agreements. We licensed commercial rights to PHEXX and SOLOSEC in the Middle East and North Africa (MENA) to Pharma 1 Drug Store, LLC (Pharma 1), an emerging Emirati health care company, in July 2024 and May 2025, respectively. Pharma 1 filed for regulatory approval of PHEXX in the United Arab Emirates (UAE) in June 2025 and of SOLOSEC in the UAE in September 2025. The Emirates Drug Establishment (EDE) issued favorable pricing certificates — a preliminary administrative step toward regulatory approval in the UAE — for PHEXX in November 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">In April 2026, the Company entered into a Distributorship Agreement with Clovis Davis Pharmaceuticals, Inc. for distribution of SOLOSEC in sub-Saharan Africa.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation and Principles of Consolidation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company prepared the unaudited interim condensed consolidated financial statements included in this Quarterly Report in accordance with accounting principles generally accepted (GAAP) in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission (SEC) related to quarterly reports on Form 10-Q.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial statements are presented on a consolidated basis, which include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The unaudited interim condensed consolidated financial statements do not include all information and disclosures required by GAAP for annual audited consolidated financial statements and should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2025 included in its Annual Report on Form 10-K as filed with the SEC on March 11, 2026 (the 2025 Audited Financial Statements).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">¹ Daniels K and Abma J. Current Contraceptive Status Among Females Ages 15–49: United States, 2022–2023. NCHS Data Brief No. 539. August 2025. Data table for Figure 1, sourced from National Survey of Family Growth (NSFG) 2022–2023. https://www.cdc.gov/nchs/data/databriefs/db539.pdf </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited interim condensed consolidated financial statements included in this Quarterly Report have been prepared on the same basis as the Company’s audited consolidated financial statements and include all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the financial position, results of operations, cash flows, and statements of convertible and redeemable preferred stock and stockholders’ deficit for the periods presented. The results for the three months ended March 31, 2026 are not necessarily indicative of the results expected for the full year. The condensed consolidated balance sheet as of December 31, 2025 was derived from the 2025 Audited Financial Statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reverse Stock Split</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 26, 2025, the Company’s stockholders approved a reverse stock split of the Company’s issued and outstanding shares of Common Stock at a ratio of between <span id="xdx_905_eus-gaap--StockholdersEquityReverseStockSplit_c20251126__20251126_zFEmLZZkza8k" title="Stockholders equity reverse stock split">1-for-500 and 1-for-1,500.</span> The Company’s board of directors has not effectuated the reverse stock split as of the date of filing of this Quarterly Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Risks, Uncertainties and Going Concern</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any disruptions in the commercialization of PHEXX or SOLOSEC and/or their supply chains could have a material adverse effect on the Company’s business, results of operations and financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities, in the normal course of business, and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s principal operations are related to the commercialization of PHEXX and, since July 2024, SOLOSEC. Additional activities have included raising capital, identifying alternative manufacturing to lower PHEXX cost of goods sold (COGS), re-establishing the manufacturing / supply chain for SOLOSEC, seeking ex-U.S. licensing partners to add non-dilutive capital to the balance sheet and geographically diversify its revenue streams, seeking product in-licensing/acquisition opportunities to expand and diversify its U.S. revenue streams, and establishing and maintaining a corporate infrastructure to support commercial products. The Company has incurred operating losses and negative cash flows from operating activities since inception, excluding non-recurring accounts payable and accrued expenses settlements, debt extinguishments, and changes in accounting estimates in certain prior periods. As of March 31, 2026, the Company had a working capital deficit of $72.7 </span> million and an accumulated deficit of $<span id="xdx_90E_ecustom--RetainedEarningsAccumulatedDeficits_iNI_pn5n6_di_c20260331_zOxd8yeFqQVh" title="Accumulated deficit">902.9</span> million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 6, 2025, the Company received a written notice from the OTC Markets notifying the Company that, because the closing bid price for the Company’s Common Stock was below $<span id="xdx_902_eus-gaap--SharePrice_iI_pid_c20250106_zNOfckVofVWg" title="Share price">0.01</span> per share for 30 consecutive calendar days, the Company was not compliant with the minimum bid price requirement for continued listing on the OTCQB, as set forth in the OTCQB listing standards, section 2.3 (the Minimum Bid Price Requirement). In accordance with OTCQB Listing Standards, Section 4.1, to regain compliance with the Minimum Bid Price Requirement the Company’s closing bid price was required to be equal to or greater than $<span id="xdx_90E_eus-gaap--SharePrice_iI_pid_c20250106_zhiSd4cDwEsd" title="Share price">0.01</span> for ten consecutive trading days during the 90-day compliance period which ended April 6, 2025. On April 22, 2025, the Company received a written notice from the OTC Markets that it did not regain compliance with the Minimum Bid Price Requirement during the specified period, and as such, its Common Stock was removed from OTCQB and began trading on the OTC Pink Current (OTCPK) at market open on April 23, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Common Stock was moved to and began trading on the Over-the-Counter Integrated Disclosure (OTCID), the new basic reporting market tier launched by the OTC Markets Group, at market open on July 1, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Management’s plans to meet its cash flow needs in the next 12 months include generating recurring product revenue from PHEXX and SOLOSEC, earning milestone payments by achieving certain regulatory milestones under the License and Supply Agreement with Pharma 1 for SOLOSEC, generating product revenue from the sale of PHEXX and SOLOSEC to Pharma 1 and SOLOSEC to Clovis Davis for approved countries in the respective licensed Territories, restructuring its current payables, and obtaining additional funding through non-dilutive or dilutive financings, collaborations or partnerships with other companies, including license agreements for PHEXX and/or SOLOSEC in the U.S. or foreign markets, or through other potential business combinations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company anticipates it will continue to incur net losses for the foreseeable future. According to management estimates, liquidity resources were not sufficient to maintain the Company’s cash flow needs for the twelve months from the date of issuance of these interim condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company is not able to obtain the required funding through a significant increase in revenue, license agreements for PHEXX and/or SOLOSEC, equity or debt financings, or other means, or is unable to obtain funding on terms favorable to the Company, or if there is another event of default affecting the notes payable, there will be a material adverse effect on commercialization operations and the Company’s ability to execute its strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, the Company may be forced to make further reductions in spending, including spending in connection with its commercialization activities, extend payment terms with suppliers, liquidate assets where possible at a potentially lower amount than as recorded in the condensed consolidated financial statements, suspend or curtail planned operations, or cease operations entirely. Any of these could materially and adversely affect the Company’s liquidity, financial condition and business prospects, and the Company would not be able to continue as a going concern. The Company has concluded that these circumstances and the uncertainties associated with the Company’s ability to obtain additional equity or debt financing on terms that are favorable to the Company, or at all, and otherwise succeed in its future operations raise substantial doubt about the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1-for-500 and 1-for-1,500. -902900000 0.01 0.01 <p id="xdx_800_eus-gaap--SignificantAccountingPoliciesTextBlock_zALJla3ADTp" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_002"></span>2. <span id="xdx_82B_zwi2aMf7mY9">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--UseOfEstimates_zx70H3kMYb3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_zceZ373BOXY4">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and the notes thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates affecting amounts reported or disclosed in the interim condensed consolidated financial statements include, but are not limited to: the assumptions used in measuring the revenue gross-to-net variable consideration items; the allowance for expected credit losses estimate; the assumptions used in estimating the notes carried at fair value, preferred stock, and purchase rights issued; and the assumptions used in the valuation of inventory, the intangible asset, and contingent liabilities; the useful lives and recoverability of long-lived assets; and the valuation of deferred tax assets. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances and adjusts when facts and circumstances dictate. These estimates are the basis for making judgments about the carrying values of assets, liabilities and recorded expenses that are not readily apparent from other sources. As future events and their effects cannot be determined with precision, actual results may materially differ from those estimates or assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_znDHifenX0Q5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_z8RFHcLpKm1k">Segment Reporting</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (CODM), the Chief Executive Officer of the Company, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in <span id="xdx_90C_eus-gaap--NumberOfOperatingSegments_pid_dc_uInteger_c20260101__20260331_zckIZAxqT54i" title="Number of operating segment">one</span> operating segment. The Company’s CODM assesses performance and decides how to allocate resources for the Company’s <span id="xdx_901_eus-gaap--NumberOfReportableSegments_pid_dc_uInteger_c20260101__20260331_zJpLsbXhZvlb" title="Number of reportablesegment">one</span> operating segment based on consolidated net income or loss that is reported on the interim condensed consolidated statements of operations. The Company has also evaluated the significant segment expenses incurred by the single segment that are regularly provided to the CODM. The significant segment expenses regularly provided to the CODM are consistent with those reported on the interim condensed consolidated statements of operations and include cost of goods sold, research and development, net, selling and marketing, and general and administrative. The CODM uses these expense categories, along with data on product sales, net, to make key operating decisions such as: the strategic direction of the Company, pursuing and/or approving product acquisitions, decisions about key personnel, and approving annual operating budgets. The Company manages assets on a consolidated basis as reported on the interim condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_z7SSS1E8Bcig" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zqXwXDZroagj">Concentrations of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash and cash equivalents. Deposits in the Company’s checking, time deposit and investment accounts are maintained in federally insured financial institutions and are subject to federally insured limits or limits set by Securities Investor Protection Corporation. The Company invests in funds through a major U.S. bank and is exposed to credit risk in the event of default to the extent of amounts recorded on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not experienced any losses in such accounts and believes it is not exposed to significant concentrations of credit risk on its cash, cash equivalents and restricted cash balances on amounts in excess of federally insured limits due to the financial position of the depository institutions in which these deposits are held.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is also subject to credit risk related to its trade accounts receivable from product sales. Its customers are located in the U.S. and, starting in the fourth quarter of 2025, in the United Arab Emirates (UAE), and consist of wholesale distributors, retail pharmacies, mail-order specialty pharmacies and, in the UAE, its licensee, Pharma 1.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the U.S., products are distributed primarily through three major distributors and mail-order pharmacies, which receive service fees calculated as a percentage of the gross sales and a fee-per-unit shipped or sold, respectively. These entities are not obligated to purchase any set number of units; they distribute products on demand as orders are received.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2026 and 2025, the Company’s three largest customers combined made up approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z1sg8ZAB6hC2" title="Concentration risk percentage">63</span>% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z8BUEnDQEK1a" title="Concentration risk percentage">75</span>% of its gross product sales, respectively. As of March 31, 2026 and December 31, 2025, the Company’s three largest customers combined made up <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zrU2wwSS8Ici" title="Concentration risk percentage">69</span>% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgtAo0DdsJXf" title="Concentration risk percentage">91</span>%, respectively, of its trade accounts receivable balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zZzjrNBp9I2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zMEgRbeRt9Rk">Significant Accounting Policies</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There have been no changes to the significant accounting policies that were described in <a href="#n_002">Note 2 – Summary of Significant Accounting Policies</a> of the 2025 Audited Financial Statements in the Company’s Annual Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zzDKTa2ms3J4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_zjkcBXxXUJ5e">Cash and Cash Equivalents and Restricted Cash and Cash Equivalents</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents and restricted cash and cash equivalents consist of readily available cash in checking accounts and money market funds. Restricted cash and cash equivalents consists of cash held in monthly time deposit accounts as well as an immaterial letter of credit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_z0mp2wVpMXMk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_869_zf0RomU73hL2">Net Income (Loss) Per Share</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net income (loss) per share attributable to common stockholders is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. The net income (loss) available to common stockholders is adjusted for amounts in accumulated deficit related to the deemed dividends triggered for certain financial instruments. Such adjustment was immaterial in each of the three months ended March 31, 2026 and 2025. Diluted net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury-stock and if-converted methods. For purposes of the diluted net loss per share calculation, potentially dilutive securities are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and therefore, basic and diluted net loss per share were the same for the three months ended March 31, 2026. Potentially dilutive securities excluded from the calculation of diluted net loss per share are summarized in the table below. Common shares were calculated for the convertible preferred stock and the convertible debt using the if-converted method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The schedule of potentially dilutive securities excluded from the calculation of diluted net income (loss) per share is included below:</span></p> <p id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3MIhVvqkZGb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zs3gWlz3ix3h" style="display: none">Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260331_zw8uLD3Lzoxj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_zlgtUjONAdmc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zG0qaNMVK2W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Options to purchase Common Stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,324</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,372</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zZ0MQNl7trl3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258,254,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,807,539</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_zfmmW2SNevQl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,080,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0659">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zDonTNFg1wJ4" style="vertical-align: bottom; background-color: White"> <td>Series F-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,706,493,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0662">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesGOneSharesMember_zWDzavNTTm96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series G-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,343,389</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0665">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RightsMember_zxP74C7hfyFf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchase rights to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,505,819,328</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0668">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z81dCfGc85f3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,036,800,486</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0671">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zCTTNQEfXpQl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total<sup id="xdx_F4A_zGoGg70zkcik">(1)</sup></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6,776,794,858</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">20,810,911</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F04_zetT0orW4Gj6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zFDp5zuuEVZd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potentially dilutive securities in the table above include all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> includes the shares that must legally be reserved based on the applicable instruments’ agreements.</span></td></tr> </table> <p id="xdx_8A0_zOfVTJ8iNED7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfWeightedAverageNumberOfSharesTableTextBlock_zNdPOLLChGpk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of net income attributable to common stockholders, weighted average common shares outstanding for diluted net income per share, and diluted net income per share attributable to common stockholders for the three months ended March 31, 2025 (in thousands, except share and per share amounts).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_z08QB0VgrHp9" style="display: none">Schedule of Weighed Average Common Shares Outstanding for Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250331_zDScqHfgpEF" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zkfdJtbN0091" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net income attributable to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Adjustments:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestOnConvertibleDebtNetOfTax_zVdtwgwZfVqe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Noncash interest expense on convertible debt, net of tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PurchaseRightsChangeInFairValue_zcbuKHZNRPdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of purchase rights</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zwZEyDC4g1a2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">309</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zFfIJ2IwAZ95" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average shares used to compute net income attributable to common stockholders, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118,164,046</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Add:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtMember_z1QNeDShYSK8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma </i>adjustments to reflect assumed conversion of convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,673,516,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zJfSqJJXAW8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed exercise of outstanding purchase rights</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,519,148,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_z9hWkpn9Kzs2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed conversion of Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,712,447</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_z1Q7v4DjgtC3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><i>Pro forma</i> adjustments to reflect assumed conversion of Series F-1 Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zB1QHkuaJWc4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pro forma adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--WeightedAverageSharesUsedToComputeNetLossAttributableToCommonStockholderBasic_pid_zTVAgHaxKL76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average shares used to compute net income attributable to common stockholders, diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,155,035,291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDiluted_pid_zAkkzuEI2PYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income per share attributable to common stockholders, diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_znKAXpPv0Tzd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--CorrectionOfPreviouslyIssuedInterimFinancialStatementsAndPriorPeriodErrorsPolicyTextBlock_zArtwlaVDM75" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zJmlcclG58Xg">Correction of Previously Issued Interim Condensed Consolidated Financial Statements and Prior Period Errors</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the fourth quarter of 2025, the Company identified issues with the disclosure of the weighted-average shares outstanding and the basic and diluted earnings per share calculations. First, the prefunded warrants should have been included in the weighted-average shares outstanding in the disclosure of basic and diluted earnings per share for the three months ended March 31, 2025. While correcting this calculation resulted in an increase in the weighted-average shares outstanding of <span id="xdx_905_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zwleg31atJl6" title="Weighted average number of shares outstanding outstanding">4,807,692</span>, there was no change to net income per share attributable to common shareholders for the three months then ended. Secondly, the Company discovered in the calculation of the diluted net income per share attributable to common stockholders that (1) the adjustment related to the noncash interest expense on convertible debt, net of tax, was incorrectly calculated at the statutory tax rate instead of the Company’s effective tax rate and (2) the pro forma adjustment to reflect assumed conversion of convertible debt was calculated incorrectly. As a result of these corrections, for the three months ended March 31, 2025, net income attributable to common stockholders increased by $<span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn5n6_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zHMkSoWED6y5" title="Net income attributable to common stockholders">0.2</span> million and the weighted average shares used to compute net income attributable to common stockholders increased by <span id="xdx_90E_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zQQ4iFpHYSEa" title="Weighted average shares outstanding">115,137,250</span> (inclusive of the change to the weighted-average shares outstanding as described above). There was no impact to net income per share attributable to common stockholders, diluted. The Company has concluded that the impact to the previously issued interim condensed consolidated financial statements is not material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zZEno4Yrk96i" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zPG5IZyvIrU6">Recently Adopted Accounting Pronouncements</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-04, <i>Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</i>, designed to clarify the requirements for accounting for the settlement of a debt as an induced conversion versus as an extinguishment. This guidance was effective for the Company on January 1, 2026 and the Company will apply the guidance on any future induced debt conversions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i>, to provide a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification (ASC) 606 whereby companies are allowed to assume that current economic conditions will not change over the remaining life of current accounts receivable. The Company adopted ASU 2024-05 on January 1, 2026, but because the Company does not currently expect any credit losses for accounts receivable and does not have any contract assets, there was no impact to the Company’s unaudited condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No other significant new standards have been adopted during the three months ended March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently Issued Accounting Pronouncements — Not Yet Adopted</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standards setting bodies that are adopted as of the specified effective date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2023, the FASB issued ASU 2023-06, <i>Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative</i>, designed to clarify or improve disclosure and presentation requirements on a variety of topics and align the requirements in the FASB ASC with the SEC regulations. This guidance is effective for the Company no later than June 30, 2027. The Company is still evaluating the impact of ASU 2023-06.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Disaggregation of Income Statement Expenses</i>, which primarily requires disaggregation of specific expense categories in disclosures within the footnotes on an annual and interim basis. ASU 2024-03 is effective for the Company’s annual period ending December 31, 2027 and interim periods thereafter. Early adoption is permitted. In January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The Company is still evaluating the impacts of ASU 2024-03 and ASU 2025-01.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, <i>Interim Reporting (Topic 270): Narrow-Scope Improvements</i>, to improve the guidance in ASC 270 related to interim reporting and also to clarify when it applies. This guidance is effective for the Company no later than January 1, 2028. The Company is still evaluating the impact of ASU 2025-11.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-12, <i>Codification Improvements</i>, to update the FASB ASC for a broad range of topics arising from technical corrections, unintended application of the ASC, clarifications, and other minor improvements. This guidance is effective for the Company no later than January 1, 2027. The Company is still evaluating the impact of ASU 2025-12.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">In April 2026, the FASB issued ASU 2026-01, <i>Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock</i>, to add guidance on how Companies should measure paid-in-kind dividends on equity-classified preferred stock. The guidance is effective for the Company no later than January 1, 2027. The Company is still evaluating the impact of ASU 2026-01.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe the impact of any other recently issued standards and any issued but not yet effective standards will have a material impact on its unaudited condensed consolidated financial statements upon adoption.</span></p> <p id="xdx_858_zGYm7LNt5q9g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p id="xdx_847_eus-gaap--UseOfEstimates_zx70H3kMYb3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_zceZ373BOXY4">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and the notes thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates affecting amounts reported or disclosed in the interim condensed consolidated financial statements include, but are not limited to: the assumptions used in measuring the revenue gross-to-net variable consideration items; the allowance for expected credit losses estimate; the assumptions used in estimating the notes carried at fair value, preferred stock, and purchase rights issued; and the assumptions used in the valuation of inventory, the intangible asset, and contingent liabilities; the useful lives and recoverability of long-lived assets; and the valuation of deferred tax assets. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances and adjusts when facts and circumstances dictate. These estimates are the basis for making judgments about the carrying values of assets, liabilities and recorded expenses that are not readily apparent from other sources. As future events and their effects cannot be determined with precision, actual results may materially differ from those estimates or assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_znDHifenX0Q5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_z8RFHcLpKm1k">Segment Reporting</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (CODM), the Chief Executive Officer of the Company, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in <span id="xdx_90C_eus-gaap--NumberOfOperatingSegments_pid_dc_uInteger_c20260101__20260331_zckIZAxqT54i" title="Number of operating segment">one</span> operating segment. The Company’s CODM assesses performance and decides how to allocate resources for the Company’s <span id="xdx_901_eus-gaap--NumberOfReportableSegments_pid_dc_uInteger_c20260101__20260331_zJpLsbXhZvlb" title="Number of reportablesegment">one</span> operating segment based on consolidated net income or loss that is reported on the interim condensed consolidated statements of operations. The Company has also evaluated the significant segment expenses incurred by the single segment that are regularly provided to the CODM. The significant segment expenses regularly provided to the CODM are consistent with those reported on the interim condensed consolidated statements of operations and include cost of goods sold, research and development, net, selling and marketing, and general and administrative. The CODM uses these expense categories, along with data on product sales, net, to make key operating decisions such as: the strategic direction of the Company, pursuing and/or approving product acquisitions, decisions about key personnel, and approving annual operating budgets. The Company manages assets on a consolidated basis as reported on the interim condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 1 <p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_z7SSS1E8Bcig" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zqXwXDZroagj">Concentrations of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash and cash equivalents. Deposits in the Company’s checking, time deposit and investment accounts are maintained in federally insured financial institutions and are subject to federally insured limits or limits set by Securities Investor Protection Corporation. The Company invests in funds through a major U.S. bank and is exposed to credit risk in the event of default to the extent of amounts recorded on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not experienced any losses in such accounts and believes it is not exposed to significant concentrations of credit risk on its cash, cash equivalents and restricted cash balances on amounts in excess of federally insured limits due to the financial position of the depository institutions in which these deposits are held.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is also subject to credit risk related to its trade accounts receivable from product sales. Its customers are located in the U.S. and, starting in the fourth quarter of 2025, in the United Arab Emirates (UAE), and consist of wholesale distributors, retail pharmacies, mail-order specialty pharmacies and, in the UAE, its licensee, Pharma 1.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the U.S., products are distributed primarily through three major distributors and mail-order pharmacies, which receive service fees calculated as a percentage of the gross sales and a fee-per-unit shipped or sold, respectively. These entities are not obligated to purchase any set number of units; they distribute products on demand as orders are received.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2026 and 2025, the Company’s three largest customers combined made up approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z1sg8ZAB6hC2" title="Concentration risk percentage">63</span>% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z8BUEnDQEK1a" title="Concentration risk percentage">75</span>% of its gross product sales, respectively. As of March 31, 2026 and December 31, 2025, the Company’s three largest customers combined made up <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zrU2wwSS8Ici" title="Concentration risk percentage">69</span>% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgtAo0DdsJXf" title="Concentration risk percentage">91</span>%, respectively, of its trade accounts receivable balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.63 0.75 0.69 0.91 <p id="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zZzjrNBp9I2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zMEgRbeRt9Rk">Significant Accounting Policies</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There have been no changes to the significant accounting policies that were described in <a href="#n_002">Note 2 – Summary of Significant Accounting Policies</a> of the 2025 Audited Financial Statements in the Company’s Annual Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zzDKTa2ms3J4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_zjkcBXxXUJ5e">Cash and Cash Equivalents and Restricted Cash and Cash Equivalents</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents and restricted cash and cash equivalents consist of readily available cash in checking accounts and money market funds. Restricted cash and cash equivalents consists of cash held in monthly time deposit accounts as well as an immaterial letter of credit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_z0mp2wVpMXMk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_869_zf0RomU73hL2">Net Income (Loss) Per Share</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net income (loss) per share attributable to common stockholders is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. The net income (loss) available to common stockholders is adjusted for amounts in accumulated deficit related to the deemed dividends triggered for certain financial instruments. Such adjustment was immaterial in each of the three months ended March 31, 2026 and 2025. Diluted net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury-stock and if-converted methods. For purposes of the diluted net loss per share calculation, potentially dilutive securities are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and therefore, basic and diluted net loss per share were the same for the three months ended March 31, 2026. Potentially dilutive securities excluded from the calculation of diluted net loss per share are summarized in the table below. Common shares were calculated for the convertible preferred stock and the convertible debt using the if-converted method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The schedule of potentially dilutive securities excluded from the calculation of diluted net income (loss) per share is included below:</span></p> <p id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3MIhVvqkZGb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zs3gWlz3ix3h" style="display: none">Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260331_zw8uLD3Lzoxj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_zlgtUjONAdmc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zG0qaNMVK2W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Options to purchase Common Stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,324</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,372</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zZ0MQNl7trl3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258,254,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,807,539</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_zfmmW2SNevQl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,080,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0659">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zDonTNFg1wJ4" style="vertical-align: bottom; background-color: White"> <td>Series F-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,706,493,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0662">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesGOneSharesMember_zWDzavNTTm96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series G-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,343,389</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0665">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RightsMember_zxP74C7hfyFf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchase rights to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,505,819,328</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0668">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z81dCfGc85f3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,036,800,486</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0671">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zCTTNQEfXpQl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total<sup id="xdx_F4A_zGoGg70zkcik">(1)</sup></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6,776,794,858</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">20,810,911</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F04_zetT0orW4Gj6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zFDp5zuuEVZd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potentially dilutive securities in the table above include all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> includes the shares that must legally be reserved based on the applicable instruments’ agreements.</span></td></tr> </table> <p id="xdx_8A0_zOfVTJ8iNED7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfWeightedAverageNumberOfSharesTableTextBlock_zNdPOLLChGpk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of net income attributable to common stockholders, weighted average common shares outstanding for diluted net income per share, and diluted net income per share attributable to common stockholders for the three months ended March 31, 2025 (in thousands, except share and per share amounts).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_z08QB0VgrHp9" style="display: none">Schedule of Weighed Average Common Shares Outstanding for Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250331_zDScqHfgpEF" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zkfdJtbN0091" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net income attributable to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Adjustments:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestOnConvertibleDebtNetOfTax_zVdtwgwZfVqe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Noncash interest expense on convertible debt, net of tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PurchaseRightsChangeInFairValue_zcbuKHZNRPdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of purchase rights</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zwZEyDC4g1a2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">309</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zFfIJ2IwAZ95" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average shares used to compute net income attributable to common stockholders, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118,164,046</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Add:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtMember_z1QNeDShYSK8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma </i>adjustments to reflect assumed conversion of convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,673,516,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zJfSqJJXAW8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed exercise of outstanding purchase rights</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,519,148,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_z9hWkpn9Kzs2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed conversion of Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,712,447</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_z1Q7v4DjgtC3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><i>Pro forma</i> adjustments to reflect assumed conversion of Series F-1 Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zB1QHkuaJWc4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pro forma adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--WeightedAverageSharesUsedToComputeNetLossAttributableToCommonStockholderBasic_pid_zTVAgHaxKL76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average shares used to compute net income attributable to common stockholders, diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,155,035,291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDiluted_pid_zAkkzuEI2PYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income per share attributable to common stockholders, diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_znKAXpPv0Tzd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3MIhVvqkZGb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zs3gWlz3ix3h" style="display: none">Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260331_zw8uLD3Lzoxj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_zlgtUjONAdmc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zG0qaNMVK2W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Options to purchase Common Stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,324</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,372</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zZ0MQNl7trl3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258,254,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,807,539</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_zfmmW2SNevQl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,080,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0659">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zDonTNFg1wJ4" style="vertical-align: bottom; background-color: White"> <td>Series F-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,706,493,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0662">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesGOneSharesMember_zWDzavNTTm96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Series G-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,343,389</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0665">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RightsMember_zxP74C7hfyFf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Purchase rights to purchase Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,505,819,328</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0668">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z81dCfGc85f3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,036,800,486</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0671">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zCTTNQEfXpQl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total<sup id="xdx_F4A_zGoGg70zkcik">(1)</sup></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6,776,794,858</p></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">20,810,911</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F04_zetT0orW4Gj6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zFDp5zuuEVZd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potentially dilutive securities in the table above include all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> includes the shares that must legally be reserved based on the applicable instruments’ agreements.</span></td></tr> </table> 3324 3372 258254405 20807539 168080419 1706493507 101343389 1505819328 3036800486 6776794858 20810911 <p id="xdx_899_eus-gaap--ScheduleOfWeightedAverageNumberOfSharesTableTextBlock_zNdPOLLChGpk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of net income attributable to common stockholders, weighted average common shares outstanding for diluted net income per share, and diluted net income per share attributable to common stockholders for the three months ended March 31, 2025 (in thousands, except share and per share amounts).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_z08QB0VgrHp9" style="display: none">Schedule of Weighed Average Common Shares Outstanding for Diluted Net Loss Per Share</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250331_zDScqHfgpEF" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zkfdJtbN0091" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net income attributable to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Adjustments:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestOnConvertibleDebtNetOfTax_zVdtwgwZfVqe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Noncash interest expense on convertible debt, net of tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PurchaseRightsChangeInFairValue_zcbuKHZNRPdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of purchase rights</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zwZEyDC4g1a2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income attributable to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">309</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zFfIJ2IwAZ95" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average shares used to compute net income attributable to common stockholders, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118,164,046</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Add:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtMember_z1QNeDShYSK8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma </i>adjustments to reflect assumed conversion of convertible debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,673,516,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zJfSqJJXAW8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed exercise of outstanding purchase rights</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,519,148,899</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEOneSharesMember_z9hWkpn9Kzs2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><i>Pro forma</i> adjustments to reflect assumed conversion of Series E-1 Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,712,447</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_z1Q7v4DjgtC3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><i>Pro forma</i> adjustments to reflect assumed conversion of Series F-1 Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFOneSharesMember_zB1QHkuaJWc4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pro forma adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,706,493,507</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--WeightedAverageSharesUsedToComputeNetLossAttributableToCommonStockholderBasic_pid_zTVAgHaxKL76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average shares used to compute net income attributable to common stockholders, diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,155,035,291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDiluted_pid_zAkkzuEI2PYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net income per share attributable to common stockholders, diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 953000 577000 -1221000 309000 118164046 2673516392 1519148899 137712447 1706493507 1706493507 6155035291 0.00 <p id="xdx_84A_ecustom--CorrectionOfPreviouslyIssuedInterimFinancialStatementsAndPriorPeriodErrorsPolicyTextBlock_zArtwlaVDM75" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zJmlcclG58Xg">Correction of Previously Issued Interim Condensed Consolidated Financial Statements and Prior Period Errors</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the fourth quarter of 2025, the Company identified issues with the disclosure of the weighted-average shares outstanding and the basic and diluted earnings per share calculations. First, the prefunded warrants should have been included in the weighted-average shares outstanding in the disclosure of basic and diluted earnings per share for the three months ended March 31, 2025. While correcting this calculation resulted in an increase in the weighted-average shares outstanding of <span id="xdx_905_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zwleg31atJl6" title="Weighted average number of shares outstanding outstanding">4,807,692</span>, there was no change to net income per share attributable to common shareholders for the three months then ended. Secondly, the Company discovered in the calculation of the diluted net income per share attributable to common stockholders that (1) the adjustment related to the noncash interest expense on convertible debt, net of tax, was incorrectly calculated at the statutory tax rate instead of the Company’s effective tax rate and (2) the pro forma adjustment to reflect assumed conversion of convertible debt was calculated incorrectly. As a result of these corrections, for the three months ended March 31, 2025, net income attributable to common stockholders increased by $<span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn5n6_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zHMkSoWED6y5" title="Net income attributable to common stockholders">0.2</span> million and the weighted average shares used to compute net income attributable to common stockholders increased by <span id="xdx_90E_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20250101__20250331__srt--RangeAxis__srt--MaximumMember_zQQ4iFpHYSEa" title="Weighted average shares outstanding">115,137,250</span> (inclusive of the change to the weighted-average shares outstanding as described above). There was no impact to net income per share attributable to common stockholders, diluted. The Company has concluded that the impact to the previously issued interim condensed consolidated financial statements is not material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4807692 200000 115137250 <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zZEno4Yrk96i" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zPG5IZyvIrU6">Recently Adopted Accounting Pronouncements</span> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-04, <i>Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments</i>, designed to clarify the requirements for accounting for the settlement of a debt as an induced conversion versus as an extinguishment. This guidance was effective for the Company on January 1, 2026 and the Company will apply the guidance on any future induced debt conversions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i>, to provide a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification (ASC) 606 whereby companies are allowed to assume that current economic conditions will not change over the remaining life of current accounts receivable. The Company adopted ASU 2024-05 on January 1, 2026, but because the Company does not currently expect any credit losses for accounts receivable and does not have any contract assets, there was no impact to the Company’s unaudited condensed consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No other significant new standards have been adopted during the three months ended March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recently Issued Accounting Pronouncements — Not Yet Adopted</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standards setting bodies that are adopted as of the specified effective date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2023, the FASB issued ASU 2023-06, <i>Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative</i>, designed to clarify or improve disclosure and presentation requirements on a variety of topics and align the requirements in the FASB ASC with the SEC regulations. This guidance is effective for the Company no later than June 30, 2027. The Company is still evaluating the impact of ASU 2023-06.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Disaggregation of Income Statement Expenses</i>, which primarily requires disaggregation of specific expense categories in disclosures within the footnotes on an annual and interim basis. ASU 2024-03 is effective for the Company’s annual period ending December 31, 2027 and interim periods thereafter. Early adoption is permitted. In January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The Company is still evaluating the impacts of ASU 2024-03 and ASU 2025-01.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, <i>Interim Reporting (Topic 270): Narrow-Scope Improvements</i>, to improve the guidance in ASC 270 related to interim reporting and also to clarify when it applies. This guidance is effective for the Company no later than January 1, 2028. The Company is still evaluating the impact of ASU 2025-11.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-12, <i>Codification Improvements</i>, to update the FASB ASC for a broad range of topics arising from technical corrections, unintended application of the ASC, clarifications, and other minor improvements. This guidance is effective for the Company no later than January 1, 2027. The Company is still evaluating the impact of ASU 2025-12.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">In April 2026, the FASB issued ASU 2026-01, <i>Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock</i>, to add guidance on how Companies should measure paid-in-kind dividends on equity-classified preferred stock. The guidance is effective for the Company no later than January 1, 2027. The Company is still evaluating the impact of ASU 2026-01.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not believe the impact of any other recently issued standards and any issued but not yet effective standards will have a material impact on its unaudited condensed consolidated financial statements upon adoption.</span></p> <p id="xdx_80A_eus-gaap--RevenueFromContractWithCustomerTextBlock_ztF8qq5ktos2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_003"></span>3. <span id="xdx_82C_zvHCgtjyMRLe">Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 606, the Company recognizes revenue when its performance obligation is satisfied by transferring control of the product to a customer. Any payments received before the Company satisfies its performance obligations are considered deferred revenue until the obligations are satisfied. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s customers are primarily located in the U.S. and consist of wholesale distributors, retail pharmacies, and mail-order specialty pharmacies. The first order for PHEXX from the UAE was placed in late 2025 and will be manufactured for and sold to Pharma 1 following Emirates Drug Establishment approval of the product. For all customers, payment terms typically range from <span id="xdx_900_ecustom--ContractWithCustomerPaymentTerm_dtD_c20260101__20260331__srt--RangeAxis__srt--MinimumMember_zeePl3ilEkY8">31</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_90A_ecustom--ContractWithCustomerPaymentTerm_dtD_c20260101__20260331__srt--RangeAxis__srt--MaximumMember_zTxjoSjYell1">66</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">days, include prompt pay discounts, and vary by customer. Trade accounts receivable due to the Company from contracts with its U.S. based customers are stated separately in the condensed consolidated balance sheets, net of various allowances as described in the Trade Accounts Receivable policy in <a href="#n_002">Note 2 – Summary of Significant Accounting Policies</a> to the 2025 Audited Financial Statements. </span>Trade accounts receivable due to the Company from Pharma 1 are included in Prepaid and other current assets in the condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers. Revenue is only recognized when the performance obligation is satisfied. To determine whether a significant reversal will occur in future periods, the Company assesses both the likelihood and magnitude of any such potential reversal of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s products are sold to domestic customers at the Wholesale Acquisition Cost (WAC), or in some cases at a discount to WAC. However, the Company records product revenue net of reserves for applicable variable consideration. These types of variable consideration reduce revenue and include the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution services fees</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prompt pay and other discounts</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product returns</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chargebacks</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rebates</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patient support programs, including our co-pay programs</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 606, the Company must make significant judgments to determine the estimate for certain variable consideration. For example, the Company must estimate the percentage of end-users that will obtain the product through public insurance such as Medicaid or through private commercial insurance. To determine these estimates, the Company relies on historical sales data showing the amount of various end-user consumer types, inventory reports from the wholesale distributors and mail-order specialty pharmacy, and other relevant data reports.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The specific considerations that the Company uses in estimating these amounts related to variable consideration are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Distribution services fees</span> – The Company pays distribution service fees to its wholesale distributors and mail-order specialty pharmacies. These fees are a contractually fixed percentage of WAC and are calculated at the time of sale based on the purchase amount or distributor’s sales of products for certain wholesale distributors. The Company considers these fees to be separate from the customer’s purchase of the product and, therefore, they are recorded in other current liabilities on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Prompt pay and other discounts</span> – The Company incentivizes its customers to pay their invoices on time through prompt pay discounts. These discounts are an industry standard practice, and the Company offers a prompt pay discount to each wholesale distributor and retail pharmacy customers. The specific prompt pay terms vary by customer and are contractually fixed. Prompt pay discounts are typically taken by the Company’s customers. The Company may also give other discounts to its customers to incentivize purchases and promote customer loyalty. The terms of such discounts may vary by customer. An estimate of the prompt pay discounts and other discounts are recorded at the time of sale based on the purchase amount as contra trade accounts receivable on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Product returns</span> – Domestic customers have the right to return product that is within six months or less of the labeled expiration date or that is past the expiration date by no more than twelve months. PHEXX has a shelf life of 48 months. SOLOSEC has a shelf life of 60 months. The Company uses historical sales and return data to estimate future product returns. Product return estimates are recorded as other current liabilities on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Chargebacks</span> – Certain government entities and covered entities (e.g., Veterans Administration, 340B covered entities, group purchasing organizations) are able to purchase products at a price discounted below WAC. The difference between the government or covered entity purchase price and the wholesale distributor purchase price of WAC will be charged back to the Company. The Company estimates the amount of each chargeback channel based on the expected number of claims in each channel and related chargeback that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Estimated chargebacks are recorded as contra trade accounts receivable on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Rebates</span> – The Company is subject to mandatory discount obligations under the Medicaid and Tricare programs. The rebate amounts for these programs are determined by statutory requirements or contractual arrangements. Rebates are owed after the product has been dispensed to an end user and the Company has been invoiced. Rebates for Medicaid and Tricare are invoiced in arrears. The Company has numerous commercial rebate programs for its products whereby certain customers receive a rebate as contractually arranged; the program for PHEXX ended on December 31, 2025. The Company estimates the amount of rebates based on the expected number of claims and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Rebate estimates are recorded as other current liabilities on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Patient support programs</span> – The Company voluntarily offers a co-pay program to provide financial assistance to patients meeting certain eligibility requirements. The Company estimates the amount of financial assistance for these programs based on the expected number of claims and related cost associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Patient support program estimates are recorded as other current liabilities on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The variable consideration discussed above was recorded in the condensed consolidated balance sheets and consisted of $<span id="xdx_906_ecustom--ProductRevenueVariableConsiderationLiabilityCurrent_iI_pn5n6_c20260331__custom--StatementOfFinancialPositionsLocationBalanceAxis__us-gaap--TradeAccountsReceivableMember_ztAAObfe9fe8" title="Product revenue variable consideration liability current">0.1</span> million and $<span id="xdx_905_ecustom--ProductRevenueVariableConsiderationLiabilityCurrent_iI_pn5n6_c20251231__custom--StatementOfFinancialPositionsLocationBalanceAxis__us-gaap--TradeAccountsReceivableMember_zzwdDHgiM9fd" title="Product revenue variable consideration liability current">0.5</span> million in contra trade accounts receivable as of March 31, 2026 and December 31, 2025, respectively and $<span id="xdx_90C_ecustom--ProductRevenueVariableConsiderationLiabilityCurrent_iI_pn5n6_c20260331__custom--StatementOfFinancialPositionsLocationBalanceAxis__custom--OthersCurrentLiabilitiesMember_zHvSqYoK12q" title="Product revenue variable consideration liability current">9.8</span> million and $<span id="xdx_903_ecustom--ProductRevenueVariableConsiderationLiabilityCurrent_iI_pn5n6_c20251231__custom--StatementOfFinancialPositionsLocationBalanceAxis__custom--OthersCurrentLiabilitiesMember_zKBqItTWy1qh" title="Product revenue variable consideration liability current">11.2</span> million in other current liabilities as of March 31, 2026 and December 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P31D P66D 100000 500000 9800000 11200000 <p id="xdx_80B_eus-gaap--DebtDisclosureTextBlock_zppDcsX6SQEg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_004"></span>4. <span id="xdx_823_zoJHSJ8kYTXl">Debt</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible Notes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Baker Notes (owned by Future Pak, LLC since July 23, 2024)</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 23, 2020, the Company entered into a Securities Purchase and Security Agreement (the Baker Bros. Purchase Agreement) with certain affiliates of Baker Bros. Advisors LP, as purchasers (the Baker Purchasers), and Baker Bros. Advisors LP, as designated agent, pursuant to which the Company agreed to issue and sell to the Baker Purchasers (i) convertible senior secured promissory notes (the Baker Notes) in an aggregate principal amount of up to $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20200423__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zfZHiihEpb22" title="Debt instrument, face amount">25.0</span> million and (ii) warrants to purchase shares of Common Stock (the Baker Warrants) in a private placement, which closed in two closings (April 24, 2020, the Baker Initial Closing, and June 9, 2020, the Baker Second Closing). As a result of the two closings, the Company issued and sold Baker Notes with an aggregate principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20200423__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__custom--BakerSecondClosingNotesMember_zDDzVn1tHsk7" title="Debt instrument, face amount">25.0</span> million and Baker Warrants exercisable for <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20200609__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__custom--BakerSecondClosingNotesMember_zWJtXKrdq5Yb" title="Warrants purchase">2,731</span> shares of Common Stock. Upon the completion of the underwritten public offering in June 2020, the exercise price of the Baker Warrants was $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20200609__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__custom--BakerSecondClosingNotesMember_zDuSuHkWBYu5" title="Class of warrant">4,575</span> per share. The Baker Warrants had a five-year<span id="xdx_905_ecustom--ClassOfWarrantOrRightVestingTerm_dtY_c20200609__20200609__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zeOEkZzDcfHg" style="display: none" title="Class of warrant or right vesting term">5</span> term with a cashless exercise provision and were immediately exercisable at any time from their respective issuance date. The April 2020 Baker Warrants expired on April 24, 2025. The June 2020 Baker Warrants expired on June 9, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Baker Notes had a five-year<span id="xdx_90A_eus-gaap--DebtInstrumentTerm_dtY_c20200423__20200423__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zSi7A29oIdEh" style="display: none" title="Debt instrument term">5</span> term, with no pre-payment ability during the first three years. Interest on the unpaid principal balance of the Baker Notes (the Baker Outstanding Balance) accrues at <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentRate_pid_dp_uPure_c20200423__20200423__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zezJuraltmgk" title="Accrues percentage">10.0</span>% per annum, with interest accrued during the first year from the two respective closing dates recognized as payment-in-kind. The effective interest rate for the periods was <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20200423__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_z3UbS93uZAug" title="Effective interest rate percentage">10.0</span>%. Accrued interest beyond the first year of the respective closing dates was to be paid in arrears on a quarterly basis in cash or recognized as payment-in-kind, at the direction of the Baker Purchasers. As discussed below, with the amendment to the Baker Bros. Purchase Agreement, interest payments were paid in-kind. Interest pertaining to the Baker Notes for the three months ended March 31, 2026 and 2025 were approximately $<span id="xdx_90F_eus-gaap--InterestExpense_pn5n6_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zUuYVmPucwIb" title="Interest expense">3.0</span> million and $<span id="xdx_90F_eus-gaap--InterestExpense_pn5n6_c20250101__20250331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zRxqCqONsLZ6" title="Interest expense">2.7</span> million, respectively, which was added to the outstanding principal balance. The Company accounts for the Baker Notes under the fair value method as described below and, therefore, the interest associated with the Baker Notes is included in the fair value determination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Baker Notes were callable by the Company on <span id="xdx_90F_ecustom--DebtInstrumentConvertibleWrittenNoticePeriod_pid_dtDp_c20200424__20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zvKNYnsPLnY8" title="Written notice period">10</span> days’ written notice beginning on the third anniversary of the initial closing date of April 24, 2020 at a call price equal to <span id="xdx_907_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20200424__20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodTwoMember_zOzRZs9p3Bx6" title="Debt instrument, redemption price, percentage">100</span>% of the Baker Outstanding Balance plus accrued and unpaid interest if the Company’s Common Stock as measured using a 30-day VWAP was greater than the benchmark price of $<span id="xdx_900_eus-gaap--DebtInstrumentConvertibleStockPriceTrigger_pid_c20200424__20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zAHTXch73An6" title="Debt instrument, benchmark price per share">9,356.25</span> as stated in the Baker Bros. Purchase Agreement, or <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20200424__20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodOneMember_zPp3RrrY8kK2" title="Debt instrument, redemption price, percentage">110</span>% of the Baker Outstanding Balance plus accrued and unpaid interest if the VWAP was less than such benchmark price. The Baker Purchasers also had the option to require the Company to repurchase all or any portion of the Baker Notes in cash upon the occurrence of certain events. In a repurchase event, as defined in the Baker Bros. Purchase Agreement, the repurchase price will equal <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20200424__20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember__us-gaap--DebtInstrumentRedemptionPeriodAxis__us-gaap--DebtInstrumentRedemptionPeriodOneMember_zpMBaWVX10Ul" title="Debt instrument, redemption price, percentage">110</span>% of the Baker Outstanding Balance plus accrued and unpaid interest. In the event of default or the Company’s change of control, the repurchase price would equal to the sum of (x) three times of the Baker Outstanding Balance plus (y) the aggregate value of future interest that would have accrued. The Baker Notes were convertible at any time at the option of the Baker Purchasers at the conversion price of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20200424__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zDYBxWci0432" title="Debt instrument, conversion price per share">4,575</span> per share prior to the First and Second Baker Amendments (as defined below).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 20, 2021, the Company entered into the first amendment to the Baker Bros. Purchase Agreement (the First Baker Amendment), in which each Baker Purchaser had the right to convert all or any portion of the Baker Notes into Common Stock at a conversion price equal to the lesser of (a) $<span id="xdx_904_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20211120__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zwJStsvWQAOe" title="Debt instrument, conversion price per share">4,575</span> and (b) <span id="xdx_905_ecustom--DebtInstrumentConvertibleConversionPricePercentageOfLowestStockPrice_iI_pid_dp_uPure_c20211120__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zKjkrLmbFnd5" title="Debt instrument, conversion price percent">115</span>% of the lowest price per share of Common Stock (or, as applicable with respect to any equity securities convertible into Common Stock, <span id="xdx_905_ecustom--DebtInstrumentConvertibleConversionPricePercentageOfLowestStockPrice_iI_pid_dp_uPure_c20211120__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zFLSMSYEAgkk" title="Debt instrument, conversion price percent">115</span>% of the applicable conversion price) sold in one or more equity financings until the Company has met a qualified financing threshold defined as one or more equity financings resulting in aggregate gross proceeds to the Company of at least $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn6n6_c20211120__20211120__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zfkwyzsRyYYf" title="Proceeds from issuance of sale of equity">50</span> million (the Financing Threshold).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The First Baker Amendment extended, effective upon the Company’s achievement of the Financing Threshold, the affirmative covenant to achieve $<span id="xdx_90B_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20230630_zltqg3xc7RRg" title="Milestone method revenue recognized">100.0</span> million in cumulative net sales of PHEXX by June 30, 2022 to June 30, 2023. Additionally per the First Baker Amendment, if the Company were to issue warrants to purchase capital stock of the Company (or other similar consideration) in any equity financing that closed on or prior to the date on which the Company met the Financing Threshold, the Company was required to issue to the Baker Purchasers an equivalent coverage of warrants (or other similar consideration) on the same terms as if the Baker Purchasers had participated in the financing in an amount equal to the then outstanding principal of Baker Notes held by the Baker Purchasers. In satisfaction of this requirement and in connection with the closing of the May 2022 Public Offering, the Company issued warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20211120__us-gaap--ClassOfWarrantOrRightAxis__custom--JuneTwoThousandTwentyTwoBakerWarrantsMember_zWkHT5000gwd" title="Warrants purchase">582,886</span> shares of the Company’s Common Stock at an exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211120__us-gaap--ClassOfWarrantOrRightAxis__custom--JuneTwoThousandTwentyTwoBakerWarrantsMember_zW3zYVJggkch" title="Exercise price">93.75</span> per share to the Baker Purchasers (the June 2022 Baker Warrants). As required by the terms of the First Baker Amendment, the June 2022 Baker Warrants have substantially the same terms as the warrants issued in the May 2022 Public Offering. Refer to <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> for further information. The exercise price of the initial Baker Warrants and the June 2022 Baker Warrants was reset multiple times as a result of various Notes issuances in accordance with the agreement. The exercise price of the June 2022 Baker Warrants was $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20260331__us-gaap--ClassOfWarrantOrRightAxis__custom--JuneTwoThousandTwentyTwoBakerWarrantsMember_zzjTAhJpvQF8" title="Exercise price per share">0.0154</span> per share as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 21, 2022, the Company entered into the second amendment to the Baker Bros. Purchase Agreement (the Second Baker Amendment), which granted each Baker Purchaser the right to convert all or any portion of the Baker Notes into Common Stock at a conversion price equal to the lesser of (a) $<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20220321__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember_zwOmhN1SqGJ6" title="Debt instrument conversion price per share">725.81</span> or (b) <span id="xdx_908_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20220321__20220321__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember_zzUrY39ATEwh" title="Conversion price percentage">100</span>% of the lowest price per share of Common Stock (or as applicable with respect to any equity securities convertible into Common Stock, <span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20220321__20220321__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember_z2N7TD3Fi35d" title="Conversion price percentage">100</span>% of the applicable conversion price) sold in any equity financing until the Company (i) met the qualified financing threshold by June 30, 2022, defined as a single underwritten financing resulting in aggregate gross proceeds to the Company of at least $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn6n6_c20220321__20220321__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember_zHk4l1tJ2tnj" title="Proceeds from issuance of common stock">20</span> million (Qualified Financing Threshold) and (ii) disclosed top-line results from the <i>EVOGUARD </i>clinical trial (the Clinical Trial Milestone) on or before October 31, 2022. The Second Baker Amendment also provided that the exercise price of the Baker Warrants will equal the conversion price of the Baker Notes. The Company met the Qualified Financing Threshold upon the closing of the May 2022 Public Offering, and as of September 30, 2022, the conversion price and exercise price of the Baker Warrants was reset to $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220930__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember__us-gaap--ClassOfWarrantOrRightAxis__custom--BakerWarrantsMember_zrdnn9nGoeHa" title="Warrant exercise price per share">93.75</span>. The Company achieved the Clinical Trial Milestone in October 2022. Also, with the achievement of the Qualified Financing Threshold and the Clinical Trial Milestone, the affirmative covenant to achieve $<span id="xdx_901_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20230630__us-gaap--DebtInstrumentAxis__custom--SecondBakerAmendmentMember_zVTikc7F3dma" title="Revenue from trail milestone">100.0</span> million in cumulative net sales of PHEXX was extended to June 30, 2023; this was subsequently waived via the Baker Fourth Amendment as discussed below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 15, 2022, the Company entered into the third amendment to the Baker Bros. Purchase Agreement (the Third Baker Amendment), pursuant to which the conversion price was amended to $<span id="xdx_908_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20220915__us-gaap--DebtInstrumentAxis__custom--ThirdBakerAmendmentMember_z2z61aMFiI83" title="Debt instrument conversion price per share">26.25</span>, subject to adjustment for certain dilutive Company equity issuance adjustments for a two-year<span id="xdx_908_eus-gaap--DebtInstrumentTerm_dtY_c20220915__20220915__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_z1DhnOxR1cji" style="display: none" title="Debt adjustment term">2</span> period; an interest make-whole payment due in certain circumstances was removed; and certain change of control and liquidation payment amounts were reduced from three times the outstanding amounts of the Baker Notes to two times the outstanding amounts. In addition, the Third Baker Amendment provided that the Company may make future interest payments to the Baker Purchasers in kind or in cash, at the Company’s option. On the same day, the Company also entered into a Secured Creditor Forbearance Agreement with the Baker Purchasers (Forbearance Agreement), according to which the Baker Purchasers agreed to forebear the defaults that existed at that time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 19, 2022, the Company entered into the First Amendment to the Forbearance Agreement (the Amendment) effective as of December 15, 2022 to amend certain provisions of the Forbearance Agreement dated September 15, 2022. The Amendment revised the Forbearance Agreement to (i) amend the Fifth Recital Clause (as defined therein) to clarify that the Baker Purchasers consent to any additional indebtedness <i>pari passu</i>, but not senior to that of the Baker Purchasers, in an amount not to exceed $<span id="xdx_90C_eus-gaap--DebtInstrumentDecreaseForgiveness_pn5n6_c20221219__20221219__us-gaap--DebtInstrumentAxis__custom--SecuredCreditorForbearanceAgreementMember_zZdPKC6oIG53" title="Debt instrument indebtedness amount">5.0</span> million, and (ii) strike and entirely replace Section 4 to clarify the terms of the Baker Purchasers’ consent to Interim Financing (as defined therein). No other revisions were made to the Forbearance Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 7, 2023, Baker Bros. Advisors, LP (the Designated Agent) provided a Notice of Event of Default and Reservation of Rights (the Notice of Default) relating to the Baker Bros. Purchase Agreement. The Notice of Default claimed that the Company failed to maintain the “Required Reserve Amount” as required by the Third Baker Amendment. The Designated Agent, at the direction of the Baker Purchasers, accelerated repayment of the outstanding balance payable. As a result, approximately $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_pn5n6_c20230307__20230307_zTgehyBHx143" title="Debt instrument periodic payment">92.7</span> million, representing two times the sum of the outstanding balance and all accrued and unpaid interest thereon and all other amounts due under the Baker Bros. Purchase Agreement and other documents, was due and payable within three business days of receipt of the Notice of Default. In addition, the Company did not meet the $<span id="xdx_909_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20230930_z9RCNewVGnH2" title="Revenue from trail milestone">100.0</span> million cumulative net sales threshold by June 30, 2023 and as such was in default as of that date. As discussed below, all existing defaults were cured upon the signing of the Fourth Baker Amendment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 8, 2023, the Company entered into the Fourth Amendment to the Baker Bros. Purchase Agreement (the Fourth Baker Amendment) with the Baker Purchasers. The Fourth Amendment amends certain provisions within the Baker Bros. Purchase Agreement including:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the rescission of the Notice of Default delivered to the Company on March 7, 2023 and waiver of the Events of Default named therein;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the waiver of any and all other Events of Default existing as of the Fourth Amendment date;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the removal of the conversion feature into shares of Company Common Stock, including the removal of any requirement to reserve shares of Common Stock for conversion of the Baker Notes as well as any registration rights related thereto;</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the clarification that for the sole purpose of enabling ex-U.S. license agreements for such assets, any Patents, Trademarks or Copyrights acquired after the Effective Date shall be excluded from the definition of Collateral; and;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v) </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the removal of the requirement for the Company to achieve $<span id="xdx_904_ecustom--CumulativeNetSales_pn6n6_c20230908__20230908_z9d4gXPEMVyg" title="Cumulative net sales">100</span> million in cumulative net PHEXX sales in the specified timeframe. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The outstanding balance of the Baker Notes will continue to accrue interest at <span id="xdx_90C_ecustom--AccruedInterestAgreementPercentage_pid_dp_uPure_c20230908__20230908_z4y0L39Cisb5" title="Accrued interest percentage">10</span>% per annum and, in the event of a default in the agreement or a failure to pay the Repurchase Price (as defined below) on or before September 8, 2028 (the Baker Notes maturity date), the Baker Purchasers may collect on the full principal amount then outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company paid the required $<span id="xdx_90B_eus-gaap--InterestRevenueExpenseNet_pn5n6_c20230901__20230930_zb9YHmQE6Uw" title="Interest revenue expenses net">1.0</span> million upfront payment in September 2023 and is required to make quarterly cash payments based upon a percentage of the Company’s global net product revenue. The cash payments will be determined based upon the quarterly global net revenue according to the table below.</span></p> <p id="xdx_89C_ecustom--ScheduleOfCashPaymentsDeterminedBasedUponTheQuarterlyGlobalNetRevenueTableTextBlock_zfenOH4W15lf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zkDbhoiWiyWi" style="display: none">Schedule of Cash payments Determined based Upon the Quarterly Global Net Revenue</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quarterly global net revenue</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quarterly cash payment</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">≤ $5.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueOneMember_zicSfBCIfGe3" title="Quarterly cash payment">3% of such global net revenues</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&gt;$5.0 million and <i>≤ </i>$7.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueTwoMember_zPbQGbTcNNC9" title="Quarterly cash payment">3% on net revenue ≤ $5.0 million</span>; <br/> <span id="xdx_90F_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueTwoMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentOneMember_zzWlV51NamSb" title="Quarterly cash payment">4% on the net revenue over $5.0 million</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greater than $7.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember_zj3oFO31IZmj" title="Quarterly cash payment">3% on the net revenue ≤ $5.0 million</span>; <br/> <span id="xdx_900_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentOneMember_z2crzdk2OfSf" title="Quarterly cash payment">4% on the net revenue over $5.0 million and up to $7.0 million</span>; <br/> <span id="xdx_901_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentTwoMember_zg5nLSXy6079" title="Quarterly cash payment">5% on net revenue over $7.0 million</span></span></td></tr> </table> <p id="xdx_8AE_zbwIxajG3uVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The quarterly cash payments became payable beginning in the fourth quarter of 2023 and have been timely paid since.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regardless of the percentage paid, the quarterly cash payment amounts, along with the $<span id="xdx_908_eus-gaap--InterestRevenueExpenseNet_pn5n6_c20260101__20260331_zqBtt8HadO6a" title="Interest revenue expenses net">1.0</span> million upfront payment (collectively, Applicable Reductions), will be deducted from the Repurchase Price. Cumulative quarterly cash payments as of March 31, 2026, which will be treated as Applicable Reductions paid, amount to $<span id="xdx_900_eus-gaap--InterestPaid_pn5n6_c20260101__20260331_zkQGfsOJS7yh" title="Interest amount">1.5</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zKzuj62aewsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fourth Amendment also granted the Company the ability to repurchase the principal amount and accrued and unpaid interest of the Baker Notes for up to a five-year period for the one-time Repurchase Price designated below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zT8SbYrkRaRd" style="display: none">Schedule of Repurchase Price Reduction</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of Notes’ Repurchase</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Repurchase Price</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On or prior to September 8, 2024</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90A_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--PriorToSeptemberEightTwoThousandAndTwentyFourMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zQAbUcIaPuG3" title="Debt instrument, repurchase amount">14,000,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2024-September 8, 2025</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_906_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentyFourToSeptemberEightTwoThousandAndTwentyFiveMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zwmv70bICBWj" title="Debt instrument, repurchase amount">16,750,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2025-September 8, 2026</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90F_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentyFiveToSeptemberEightTwoThousandAndTwentySixMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zTvndYAX2efd" title="Debt instrument, repurchase amount">19,500,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2026-September 8, 2027</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90F_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentySixToSeptemberEightTwoThousandAndTwentySevenMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_z686I9IKkLc8" title="Debt instrument, repurchase amount">22,250,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2027-September 8, 2028</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_907_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentySevenToSeptemberEightTwoThousandAndTwentyEightMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_z6HpA8yctsW2" title="Debt instrument, repurchase amount">25,000,000</span> (less Applicable Reductions)</span></td></tr> </table> <p id="xdx_8A6_zJqM89p8WPP1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluated whether any of the embedded features required bifurcation as a separate component. The Company elected the fair value option (FVO) under ASC 825, <i>Financial Instruments</i> (ASC 825), as the Baker Notes are qualified financial instruments and are, in whole, classified as liabilities. Under the FVO, the Company recognized the debt instrument at fair value, inclusive of the embedded features, with changes in fair value related to changes in the Company’s credit risk being recognized as a component of accumulated other comprehensive loss in the condensed consolidated balance sheets. All other changes in fair value were recognized in the condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">As part of the consideration for the merger contemplated by the A&amp;R Merger Agreement (as defined in <a href="#n_007">Note 7 – Commitments and Contingencies</a>), on December 11, 2023, the Baker Purchasers signed an agreement to assign the Baker Notes to Aditxt, Inc. (Aditxt) (the December Assignment Agreement). Upon execution of the December Assignment Agreement, Aditxt assumed all terms under the Baker Notes, with Aditxt becoming the new senior secured debtholder of the Company, governed by the requirements under the Fourth Baker Amendment. The Baker Notes were re-assigned back to the Baker Purchasers on February 26, 2024 (the February Assignment Agreement).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the execution of the February Assignment Agreement, the Company reviewed the Baker Notes in accordance with ASC 470 – <i>Debt</i> (ASC 470). The Baker Notes, having been effectively terminated, were extinguished on February 26, 2024, which resulted in removal of the fair value of the old Baker Notes of $<span id="xdx_909_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20240223__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zSK4PwxGTEb6" title="Convertible note payable">13.5</span> million. The newly re-assigned Baker Notes were subsequently recorded at fair value using the valuation methods discussed in <a href="#n_006">Note 6 – Fair Value of Financial Instruments</a>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2024, the Company consented to the transfer of ownership of the Baker Notes from Baker Brothers Life Sciences, 667, L.P., and Baker Bros. Advisors, LP, each a Delaware limited partnership (collectively, Baker) to Future Pak, LLC (the Assignee) (the July 2024 Assignment). The terms of the Baker Notes were not changed in connection with the assignment from Baker to the Assignee. Due to the July 2024 Assignment, the Company reviewed the Baker Notes in accordance with ASC 470. The Baker Notes, having been effectively terminated, were extinguished on July 23, 2024, resulting in removing the fair value of the old Baker Notes of $<span id="xdx_905_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20240723__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_ztJ7XEF2zybl" title="Convertible note payable">12.3</span> million and the related accumulated other comprehensive income of $<span id="xdx_905_eus-gaap--ComprehensiveIncomeNetOfTax_pn5n6_c20240723__20240723__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zRWXkaSteUU8" title="Accumulated other comprehensive income">0.1</span> million as of the date of the extinguishment. The Company also recognized a loss of approximately $<span id="xdx_906_eus-gaap--ComprehensiveIncomeNetOfTax_pn5n6_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zbqlqR4uGKw5" title="Accumulated other comprehensive income">1.0 </span>million within the consolidated statement of operations, in the gain on debt extinguishment line item for the year ended December 31, 2024. The newly re-assigned Baker Notes were subsequently recorded at fair value using the valuation methods discussed in <a href="#n_006">Note 6 – Fair Value of Financial Instruments</a>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not repurchase the Baker Notes prior to September 8, 2025. As of March 31, 2026, the Baker Notes are recorded in the condensed consolidated balance sheet as short term Notes – carried at fair value with a total fair value of $<span id="xdx_904_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--ShortTermConvertibleNotesMember_zfFpa2Hgkqlj" title="Convertible notes payable">15.2 million</span>, and the total outstanding balance including principal and accrued interest was $<span id="xdx_902_ecustom--PrincipalAndAccruedInterest_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--ShortTermConvertibleNotesMember_zdGwCrxxiSI5" title="Principal and accrued interest">123.2</span> million. As of December 31, 2025, the Baker Notes are recorded at fair value in the condensed consolidated balance sheet as short-term Notes – carried at fair value with a total fair value of $<span id="xdx_903_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20251231__us-gaap--DebtInstrumentAxis__custom--ShortTermConvertibleNotesMember_zsNHxoWZCS8e" title="Convertible notes payable">15.5</span> million, and the total outstanding balance including principal and accrued interest was $<span id="xdx_90E_ecustom--PrincipalAndAccruedInterest_iI_pn5n6_c20251231__us-gaap--DebtInstrumentAxis__custom--ShortTermConvertibleNotesMember_zPSU1HrZP9Lh" title="Principal and accrued interest">120.5</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 27, 2024, the Assignee, as agent for the Baker Purchasers (in such capacity, the Designated Agent), provided a Notice of Event of Default and Reservation of Rights (the September 2024 Notice of Default) relating to the Baker Bros. Purchase Agreement by and among the Company, Designated Agent, as certain guarantors, and the purchasers (each a Baker Purchaser and collectively the Baker Purchasers). The September 2024 Notice of Default claims that by entering into arrangements to pay certain existing obligations, including obligations owed to the U.S. Department of Health and Human Services, an Event of Default has occurred under Section 9.1(e) of the Baker Bros. Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According to the Notice of Default, the Designated Agent has accelerated repayment of the outstanding principal balance owed by the Company under the Securities Purchase Agreement. If all Baker Purchasers exercise the Section 5.7 Option (as defined below), the repurchase price would be equal to the total outstanding balance, including principal and accrued interest. Pursuant to Section 5.7(b) of the Baker Bros. Purchase Agreement, upon the occurrence of an Event of Default, each Purchaser may elect, at its option, to require the Company to repurchase the Baker Notes held by such Purchaser (or any portion thereof) at a repurchase price equal to two times the sum of the outstanding principal balance and all accrued and unpaid interest thereon, due within three business days after such Purchaser delivers a notice of such election (the Section 5.7 Option).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 27, 2024, the Designated Agent sent an amended and supplemental notice to the Initial Notice of Default (the Amended Notice of Default) which added new claims of default based on the Company’s payment agreements of existing obligations, including obligations owed to the U.S. Department of Health and Human Services; allegedly triggering an Event of Default under Section 9.1(e) of the Baker Bros. Purchase Agreement, as amended. Furthermore, the Amended Notice stated that, because the events of default described in the Amended Notice of Default are not the certain prior events of default listed in the Forbearance Agreement (Specified Defaults), the Designated Agent and the holders of the senior secured promissory notes described in the Baker Bros. Purchase Agreement thereby provided notice to the Company that the Forbearance Agreement was terminated as of October 27, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 8, 2024, the Designated Agent sent an amended and supplemental notice to <span id="xdx_903_eus-gaap--DebtDefaultLongtermDebtDescriptionOfNoticeOfDefault_c20241108__20241108_z9qM64oWyLnh" title="Debt instrument, debt default, description of notice of default">the Notices (the Third Amended Notice of Default) which added new claims of default based on (i) the Company’s failure to maintain a cash position of $1.0 million or greater, as required under Section 5(b) of the Forbearance Agreement and (ii) the Company’s failure to deliver financial and operating reports in accordance with the timeline required under the Section 8.1(n) of the Baker Bros. Purchase Agreement, and claimed the outstanding balance under the notes of the Baker Stock Purchase Agreement, plus all accrued and unpaid interest thereon, to be approximately $107.0 million as opposed to the Repurchase Price as defined in the Fourth Amendment. The alleged Events of Defaults have not been waived or cured.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company disagrees with the Designated Agent’s claim that an Event of Default has occurred. The Company intends to contest any attempt by the Designated Agent and the Baker Purchasers to exercise their default rights and remedies under the Baker Bros. Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Adjuvant Notes</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 14, 2020, the Company entered into a Securities Purchase Agreement (the Adjuvant Purchase Agreement) with Adjuvant Global Health Technology Fund, L.P., and Adjuvant Global Health Technology Fund DE, L.P. (together, the Adjuvant Purchasers), pursuant to which the Company sold unsecured convertible promissory notes (the Adjuvant Notes) in aggregate principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20201014__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zoxfPTzGLPcl" title="Debt instrument, face amount">25.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes initially had a five-year term, and in connection with certain Company change of control transactions, the Adjuvant Notes could be prepaid at the option of the Company or would have become payable on the date of the consummation of a change of control transaction at the option of the Adjuvant Purchasers. The Adjuvant Notes have interest accruing at <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentRate_pid_dp_uPure_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zkA4zjspY6Ga" title="Debt instrument conversion rate">7.5</span>% per annum on a quarterly basis in arrears to the outstanding balance of the Adjuvant Notes and are recognized as payment-in-kind. The effective interest rate for the three months ended March 31, 2026 was <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_z3Zxd5x781Gd" title="Debt instrument interest rate effective percent">7.5</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense, entirely comprised of coupon interest, for the Adjuvant Notes was $<span id="xdx_90D_eus-gaap--InterestExpenseDebtExcludingAmortization_pn5n6_c20260101__20260331_zfcF1VrJvuuk" title="Coupon interest"><span id="xdx_900_eus-gaap--InterestExpenseDebtExcludingAmortization_pn5n6_c20250101__20250331_z9SxySjwzCH3" title="Coupon interest">0.6</span></span> million for each of the three months ended March 31, 2026 and 2025. The amount is included in short-term convertible notes – Adjuvant – related party on the condensed consolidated balance sheets as of March 31, 2026 and 2025 and in other expense, net on the condensed consolidated statements of operations for the three months ended March 31, 2026 and 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes are convertible, subject to customary <span id="xdx_90E_ecustom--DebtInstrumentConvertibleBeneficialOwnershipLimitation_pid_dp_uPure_c20201014__20201014__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember__srt--RangeAxis__srt--MaximumMember_zmGvVqAKahn2" title="Debt instrument convertible beneficial ownership limitation">19.99</span>% beneficial ownership limitations, into shares of the Company’s Common Stock at any time at the option of the Adjuvant Purchasers at a conversion price of $<span id="xdx_904_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20201014__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_ztkUx4XAzM0d">6,843.75</span> per share. In connection with certain Company change of control transactions, the Adjuvant Notes may be prepaid at the option of the Company or will become payable at the option of the Adjuvant Purchasers. To the extent not previously prepaid or converted, the Adjuvant Notes were originally automatically convertible into shares of the Company’s Common Stock at a conversion price of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20201014__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zWWM1BDNxCmd">6,843.75</span> per share immediately following the earliest of the time at which the (i) 30-day volume-weighted average price of the Company’s Common Stock was $<span id="xdx_90C_ecustom--DebtInstrumentConvertibleWeightedAveragePricePerShare_iI_pid_c20201014__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zQwQKiro353d">18,750</span> per share, or (ii) the Company achieved cumulative net sales of $<span id="xdx_90D_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20220630__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zbDNykupon6d">100.0</span> million, provided such net sales were achieved prior to July 1, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2022, the Company entered into the first amendment to the Adjuvant Purchase Agreement (the Adjuvant Amendment). The Adjuvant Amendment extended the affirmative covenant to achieve $<span id="xdx_904_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20230630__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zH5mMfV2a6le" title="Debt covenant, cumulative net sales requirement">100.0</span> million in cumulative net sales of PHEXX by June 30, 2022 to June 30, 2023. The Adjuvant Amendment also provided for an adjustment to the conversion price of the Adjuvant Notes such that the conversion price (the Conversion Price) for these Notes, effective as of the May 2023 reverse stock split, will now be the lesser of (i) $<span id="xdx_904_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20220404__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_zRufF12Nulw2" title="Debt instrument conversion price per share">678.49</span> and (ii) <span id="xdx_90A_ecustom--DebtInstrumentConvertibleConversionPricePercentageOfLowestStockPrice_iI_pid_dp_uPure_c20220404__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_zEcCJU3xhpvl" title="Conversion price as a percentage of lowest stock price">100</span>% of the lowest price per share of Common Stock (or with respect to securities convertible into Common Stock, <span id="xdx_908_ecustom--DebtInstrumentConvertibleConversionPricePercentageOfLowestStockPrice_iI_pid_dp_uPure_c20220404__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_zBkKSUk0kB8d" title="Conversion price as a percentage of lowest stock price">100</span>% of the applicable conversion price) sold in any equity financing until the Company met the Qualified Financing Threshold, as defined in the Adjuvant Amendment. Effective as of the Company’s achievement of the Qualified Financing Threshold, the automatic conversion provisions in the Adjuvant Purchase Agreement were further amended to provide that the Adjuvant Notes will automatically convert into shares of the Company’s Common Stock at the Conversion Price immediately following the earliest of the time at which the (i) <span id="xdx_90F_ecustom--DebtInstrumentConvertibleWeightedAveragePeriod_dtD_c20220404__20220404__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zlqCC9ZJkd64" title="Debt instrument weighted average period">30</span>-day volume-weighted average price of the Company’s Common Stock is $<span id="xdx_90E_ecustom--DebtInstrumentConvertibleWeightedAveragePricePerShare_iI_pid_c20220404__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zy5Gc6or39m9" title="Debt instrument weighted average price per share">18,750</span> per share, or (ii) the Company achieves cumulative net sales of PHEXX of $<span id="xdx_905_ecustom--MilestoneMethodRevenuesRecognized_iI_pn5n6_c20230630__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zwSxbcfuUcF9" title="Debt covenant, cumulative net sales requirement">100.0</span> million, provided such net sales were achieved prior to July 1, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes contain various customary affirmative and negative covenants agreed to by the Company. On September 12, 2022, the Company was in default of the Adjuvant Notes due to the default with the Baker Notes under the cross-default provision. On September 15, 2022, the Company entered into a Forbearance Agreement (the Adjuvant Forbearance Agreement) with the Adjuvant Purchasers, pursuant to which the Adjuvant Purchasers agreed to forbear from exercising any of their rights and remedies during the Forbearance Period as defined therein, but solely with respect to the specified events of default provided under the Adjuvant Forbearance Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Also on September 15, 2022, the Company entered into the second amendment to the Adjuvant Purchase Agreement (the Second Adjuvant Amendment), pursuant to which the conversion price per share was reduced to $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20220915__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_ztkHlsE4J7q5" title="Conversion price">26.25</span>, subject to adjustment for certain dilutive Company equity issuance adjustments for a two-year period. In addition, the Company entered into an exchange agreement, pursuant to which the Adjuvant Purchasers agreed to exchange <span id="xdx_90F_ecustom--DebtInstrumentConvertibleExchangePercentage_iI_pid_dp_uPure_c20220915__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zF1WFLiSWyQk" title="Debt instrument convertible exchange percentage">10</span>% of the outstanding amount of the Adjuvant Notes as of September 15, 2022 (e.g. $<span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20220915__20220915__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zPROEIRH2tN4">2.9</span> million of the Adjuvant Notes) for rights to receive <span id="xdx_906_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20220915__20220915__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zlV8tpMTvit2">109,842</span> shares of Common Stock (the Adjuvant Purchase Rights). The number of shares for each Adjuvant Purchase Right was initially fixed, but is subject to certain customary adjustments and, until the second anniversary of issuance (i.e., September 15, 2024), adjustments for certain dilutive Company equity issuances. Refer to <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> for discussion regarding additional issuances of purchase rights under this provision. The Adjuvant Purchase Rights expire on June 28, 2027 and do not have an exercise price per share and, therefore, will not result in cash proceeds to the Company. As of March 31, 2026, all Adjuvant Purchase Rights remain outstanding and the conversion price of the Adjuvant Notes was $<span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_zVsbqXvSJwmk" title="Conversion price, per share">0.0154</span>. Assuming conversion of the outstanding principal at the applicable conversion price per share, the Adjuvant Notes could be converted into <span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_zngPeqzym5Ii" title="Converted shares into common stock">2,167,822,060</span> shares of Common Stock as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was in default of the Adjuvant Notes as of September 30, 2023, due to the failure to meet the cumulative net sales requirement. However, the Adjuvant Purchasers forbore such default in October 2023 and therefore the Company was no longer in default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 10, 2025, Aditxt, the Company and the Adjuvant Purchasers entered into a Call Option Agreement wherein the Adjuvant Purchasers granted to Aditxt, a call option to purchase, at the sole discretion of Aditxt, all of the convertible Adjuvant Notes and Rights to receive Common Stock held by Adjuvant for an aggregate purchase price of $<span id="xdx_90C_eus-gaap--ProceedsFromDivestitureOfBusinesses_pn5n6_c20250410__20250410__us-gaap--TypeOfArrangementAxis__custom--CommonStockAgreementsMember_zgm01pR4jFE3" title="Aggregate purchase price">13.0</span> million. The call option expired on June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a>, on August 22, 2025, the Company entered into an Exchange Agreement with Adjuvant providing for the exchange of a portion of the Adjuvant Notes due in the aggregate original principal and accrued interest amount of approximately $<span id="xdx_906_ecustom--OriginalPrincipalAndAccruedInterestAmount_iI_pn5n6_c20250822__us-gaap--TypeOfArrangementAxis__custom--CommonStockAgreementsMember_zTkgelyGdbNb" title="Original principal and accrued interest amount">0.4 </span>million into an aggregate 365 shares of Series G-1 convertible preferred stock, par value $<span id="xdx_900_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20250822_zdwNgfIjznDd" title="Preferred stock, par value">0.0001</span> per share (the Series G-1 Shares). The exchange was accounted for as a partial debt extinguishment via delivery of other financial assets and the difference between the carrying value of the extinguished debt and the fair value of the Series G-1 Shares at issuance of approximately $<span id="xdx_90A_ecustom--SeriesG1SharesDeemedDividends_pn5n6_c20250101__20251231_zu7rhtZ2bBG4" title="Series G1 shares deemed dividends">0.4 </span>million was recorded as an increase to capital contribution during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 13, 2025, the Company and the Adjuvant Purchasers entered into a third amendment to the Adjuvant Purchase Agreement (the Adjuvant Third Amendment). The Adjuvant Third Amendment amends certain provisions including updating the date that the Adjuvant Notes will be payable in full to the earlier of (a) six months after the October 13, 2025, (b) at the election of Adjuvant, the date of a consummation of a Change of Control (as defined in the Adjuvant Purchase Agreement), and (c) the date of any acceleration of the Adjuvant Notes in accordance with Section 8 (the maturity date, as per the Adjuvant Purchase Agreement). The Adjuvant Notes may not be prepaid prior to the date that is six months after October 13, 2025 without prior written consent of the Adjuvant Purchasers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 10, 2026, the Company and the Adjuvant Purchasers entered into a fourth amendment to the Adjuvant Purchase Agreement (the Adjuvant Fourth Amendment). The Adjuvant Fourth Amendment amends certain provisions including updating the date that the Adjuvant Notes will be payable in full to the earlier of (a) six months after the April 10, 2026, (b) at the election of Adjuvant, the date of a consummation of a Change of Control (as defined in the Adjuvant Purchase Agreement), and (c) the date of any acceleration of the Adjuvant Notes in accordance with Section 8 (the maturity date, as per the Adjuvant Purchase Agreement). The Adjuvant Notes may not be prepaid prior to the date that is six months after April 10, 2026 without prior written consent of the Adjuvant Purchasers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes are accounted for in accordance with authoritative guidance for convertible debt instruments and are classified as current liabilities in the condensed consolidated balance sheets. The aggregate proceeds of $<span id="xdx_902_eus-gaap--RestrictedCash_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember_z5PCnSvYfUPc">25.0</span> million were initially classified as restricted cash for financial reporting purposes due to contractual stipulations that specify the types of expenses the money can be spent on and how it must be allocated. The conversion feature was evaluated in accordance with ASC 815, <i>Derivatives and Hedging</i> (ASC 815), determined to represent an embedded derivative, and was bifurcated and classified as part of stockholders’ deficit as of March 31, 2026. See <a href="#n_006">Note 6 - Fair Value of Financial Instruments</a> for a description of the accounting treatment for the Adjuvant Purchase Rights. As of March 31, 2026, the Adjuvant Notes are recorded in the condensed consolidated balance sheet as short-term convertible notes – Adjuvant – related party with a total balance of $<span id="xdx_90B_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--ShortTermDebtTypeAxis__custom--ShortTermConvertibleNotesMember_zFpMJMI3AKTg">33.4</span> million. The balance is comprised of $<span id="xdx_90A_ecustom--ConvertibleDebtCurrentPrincipalAmount_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zrfrazZa6Ui3" title="Convertible debt current principal amount">22.5</span> million in principal and $<span id="xdx_900_ecustom--ConvertibleDebtCurrentAccruedInterest_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zzoAHnuZDkp3" title="Convertible debt current accrued interest">10.9</span> million in accrued interest. As of December 31, 2025, the Adjuvant Notes were recorded in the condensed consolidated balance sheet as short-term convertible notes – Adjuvant – related party with a total balance of $<span id="xdx_902_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn5n6_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--ShortTermDebtTypeAxis__custom--ShortTermConvertibleNotesMember_zNwy9QbuqcFj">32.8</span> million. The balance was comprised of $<span id="xdx_90B_ecustom--ConvertibleDebtCurrentPrincipalAmount_iI_pn5n6_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zgAfO5fGsTc4" title="Convertible debt current principal amount">22.5</span> million in principal and $<span id="xdx_904_ecustom--ConvertibleDebtCurrentAccruedInterest_iI_pn5n6_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zDMjZGDstnod" title="Convertible debt current accrued interest">10.3</span> million in accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term Notes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Original SSNs and Exchanged SSNs</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company entered into eight Securities Purchase Agreements (SPAs) between December 2022 and September 2023 with certain investors; each of the agreements was materially similar. Pursuant to each SPA, the Company agreed to sell in a registered direct offering (i) unsecured <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221231__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember__us-gaap--DebtInstrumentAxis__custom--A80SeniorSubordinatedNotesDue2025IssuedDecember2022Member_zBFqO42ltiok">8.0</span>% senior subordinated notes with the maturity dates and aggregate issue prices (ii) warrants to purchase the listed number of shares of the Company’s Common Stock (including prefunded Common Stock Warrants as a part of the September 2023 SPA) and (iii) Series D Preferred Stock (the Preferred Shares; December 2022 SPA only) (collectively, the Original Senior Subordinated Notes, or Original SSNs). Additionally, the conversion rate and warrant strike price are subject to adjustment upon the issuance of other securities (as defined in each SPA) below the stated conversion rate and strike price at issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 1, 2023, the Company entered into restructuring agreements with the holders of the Original SSNs, pursuant to which the Company and each holder agreed to, among other things, (i) change the governing law and jurisdiction of the Original SSNs from New York to Delaware and (ii) reissue the Original SSNs (the Exchanged SSNs) under Section 3(a)(9) exemption of the Securities Act of 1933, as amended (the Restructuring Agreements). The maturity date of the Exchanged SSNs is December 1, 2026. No new consideration was paid and, other than the maturity date, no other terms of the Original SSNs were changed in conjunction with the Restructuring Agreements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assuming conversion of the entire outstanding principal at the applicable conversion price per share, the Exchanged SSNs could be converted into <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zDsE46rRkJFg" title="Debt conversion shares">608,787,963</span> shares of Common Stock as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Exchanged SSNs’ interest rates are subject to increase to <span id="xdx_903_ecustom--DebtInstrumentInterestRateInEventOfDefault_iI_dp_c20221231__us-gaap--DebtInstrumentAxis__custom--A80SeniorSubordinatedNotesDue2025IssuedDecember2022Member__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zmNrsZuibdj9" title="Interest rate increase">12</span>% upon an event of default and the Exchanged SSNs have no Company right to prepayment prior to maturity; however, the Company has the option to redeem the Exchanged SSNs at a redemption premium of <span id="xdx_90D_ecustom--DebtInstrumentRedemptionPremiumInEventOfDefault_iI_dp_c20221231__us-gaap--DebtInstrumentAxis__custom--A80SeniorSubordinatedNotesDue2025IssuedDecember2022Member_z6LOImbDvHNg" title="Redemption premium percentage">32.5</span>%. The purchasers of the Exchanged SSNs can also require the Company to redeem their respective Exchanged SSNs a) at the respective premium rate tied to the occurrence of certain subsequent transactions, and b) in the event of subsequent placements (as defined). Also, pursuant to the terms of the Restructuring Agreements, purchasers have certain rights to participate in subsequent issuances of the Company’s securities, subject to certain exceptions. The conversion price for the Exchanged SSNs was $<span id="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20260331__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zmJSEsYcrkTb" title="Share conversion price">0.0154</span> as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluated the Original SSNs in accordance with ASC 480 and determined that the Original SSNs were all liability instruments at issuance. The applicable Original SSNs were then evaluated in accordance with the requirements of ASC 825 and the Company concluded that they were not precluded from electing the fair value option for the applicable Original SSNs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Restructuring Agreements, the Company evaluated the Exchanged SSNs under ASC 470, and concluded that the exchange represented a non-substantial modification of the Original SSNs. Accordingly, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also evaluated the Warrants in accordance with ASC 480 and as of both March 31, 2026 and December 31, 2025, determined the warrants should be classified as equity instruments as of each date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a>, on August 22, 2025, the Company entered into Exchange Agreements with certain SSN holders providing for the exchange of a portion of the SSNs due in the aggregate original principal and accrued interest amount of approximately $<span id="xdx_90A_ecustom--OriginalPrincipalAndAccruedInterestAmount_iI_pn5n6_c20251231_zrSay51bp84k" title="Original principal and accrued interest amount">1.2</span> million into an aggregate 1,208 shares of Series G-1 Shares. The exchange was accounted for as a partial debt extinguishment via delivery of other financial assets and the difference between the fair value of the extinguished debt and the fair value of the Series G-1 Shares at issuance of an immaterial amount was recorded as an increase to capital contribution during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Aditxt Notes and Warrants </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 8, 2025, the Company entered into a securities purchase agreement (the Aditxt April SPA) with Aditxt providing for the sale and issuance of senior subordinated convertible notes due in the aggregate original principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250408__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z1b2SqvQKsBh" title="Principal amount">2.3</span> million (the Aditxt April Note) and warrants to purchase an aggregate of <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250408__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zCaZ2UTOX4m9" title="Warrants to purchase shares">149,850,150 </span>shares of Common Stock (the Aditxt April Warrants) (collectively, the Aditxt April Offering). The Company waived Aditxt’s default under the terms of the A&amp;R Merger Agreement (as defined in <a href="#n_007">Note 7 – Commitments and Contingencies</a>) because the full Fifth Parent Investment, as defined in the Fifth Amendment to the A&amp;R Merger Agreement, entered into on March 22, 2025 (the Fifth Amendment) was not made by the deadline set forth in the Fifth Amendment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 26, 2025, the Company entered into a securities purchase agreement (the Aditxt June SPA) with Aditxt providing for the sale and issuance of senior subordinated convertible notes due in the aggregate original principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zPtIK44NIWOh">1.4 </span>million (the Aditxt June Note, or together with the Aditxt April Note, the Aditxt Notes) and warrants to purchase an aggregate of <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zQiRM7pAL4s6" title="Warrants to purchase">92,407,592</span> shares of Common Stock (the Aditxt June Warrants) (collectively, the Aditxt June Offering).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In both the Aditxt April Offering and the Aditxt June Offering, Aditxt paid approximately $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfDebt_c20250626__20250626_zUtYdL7bCjt7" title="Issuance of debt">650</span> for each $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20250626_ziBSsKkhGaHg" title="Principal amount">1,000</span> of the principal amount of the notes and warrants and the Company issued a total of <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember_z2Jac1j0LEz1" title="Warrants purchase">242,257,742</span> warrants to purchase shares of Common Stock with an exercise price of $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z9993CIvLej3" title="Exercise price">0.0154</span>. The Aditxt Notes are unsecured senior subordinated notes, have an interest rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zt4xv3qcaDAc">8</span>%, and mature three years from the respective issuance dates. The net proceeds after the offering costs to the Company from the Aditxt April Offering and Aditxt June Offering were approximately $<span id="xdx_90E_eus-gaap--DeferredOfferingCosts_iI_pn5n6_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zpqriLJTYx13" title="Offering costs">2.4</span> million. Assuming conversion of the outstanding principal at the applicable conversion price per share, the Aditxt Notes could be converted into <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zacWGt6aK52i" title="Converted shares">260,190,463</span> shares of Common Stock as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--DebtInstrumentDescription_c20260101__20260331_z4FFFZWas7Nl" title="Debt instrument, description">The Aditxt April Notes’ and the Aditxt June Notes’ interest rates are subject to increase to 12% upon an event of default and they have no Company right to prepayment prior to maturity; however, the Company has the option to redeem the respective notes at a redemption premium of 32.5%. Aditxt can also require the Company to redeem the notes a) at the respective premium rate tied to the occurrence of certain subsequent transactions, and b) in the event of subsequent placements (as defined in the respective SPAs). Also, pursuant to the terms of the respective SPAs, Aditxt has certain rights to participate in subsequent issuances of the Company’s securities, subject to certain exceptions, and the shares of Company Common Stock underlying the Aditxt April Offering and the Aditxt June Offering are unregistered. Additionally, the conversion rate and warrant strike price are subject to adjustment upon the issuance of other securities (as defined in the respective SPAs) below the stated conversion rate and strike price at issuance.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluated the Aditxt April Notes and Aditxt June Notes in accordance with ASC 480 and determined that the notes were all liability instruments at issuance. The notes were then evaluated in accordance with the requirements of ASC 825 and the Company concluded that they were not precluded from electing the fair value option.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The Company evaluated the Aditxt April Warrants and Aditxt June Warrants in accordance with ASC 480 and ASC 815 and concluded that both instruments meet the criteria for classification as equity as of March 31, 2026 and December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_ecustom--ScheduleOfSeniorSubordinatedNotesAndWarrantsTableTextBlock_z3cH7slZd1R4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of Aditxt Notes, Exchanged SSNs and Warrants at Issuance (December 2022 to September 2023 and April to June 2025):</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zbetGCyKSgk9" style="display: none">Schedule of SSNs and Warrants</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Principal At</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net Proceeds Before</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance<br/> (in Thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance<br/> costs (in<br/> Thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred<br/> Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Original</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity Date</b></span></p></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Current</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity Date</b></span></p></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes⁽⁴⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zH4nyXNGidS3" style="width: 7%; text-align: right" title="Principal At Issuance">2,308</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zhnlOPHOvhW8" style="width: 7%; text-align: right" title="Gross proceeds before issuance costs">1,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zxfvyUgH061e" style="width: 7%; text-align: right" title="Warrants at issued (common stock)">369,230</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_pid_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_z8xbu3mQA2r5" title="Preferred Shares">70</span> - Series D </span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 9%; text-align: center"><span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zwugvI4uCdsc" title="Maturity Date">12/21/2025</span></td><td style="width: 2%"> ⁽⁴⁾</td> <td style="width: 9%; text-align: center"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zfpo4LLQw4Ab" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes⁽¹⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zY4PR6aTOZK7" style="text-align: right" title="Principal At Issuance">1,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zAjYJFJhuHff" style="text-align: right" title="Gross proceeds before issuance costs">900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zhTLAnBqdrSe" style="text-align: right" title="Warrants at issued (common stock)">653,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zAOGqF7Xfjrg" title="Maturity Date">2/17/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_900_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zdyJf0BjwKJc" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zYn7d1xLAmi5" style="text-align: right" title="Principal At Issuance">600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zVXdcBmdMkcl" style="text-align: right" title="Gross proceeds before issuance costs">390</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zj4GZxk4XzW8" style="text-align: right" title="Warrants at issued (common stock)">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zauMjPfRBPIb" title="Maturity Date">3/17/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_z6XPmLhJik55" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes⁽²⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_z98wg3JSnFN2" style="text-align: right" title="Principal At Issuance">538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zhtvVLI1NNXc" style="text-align: right" title="Gross proceeds before issuance costs">350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zpoY6OPt23F2" style="text-align: right" title="Warrants at issued (common stock)">258,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zjaf1HssA1Te" title="Maturity Date">3/20/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_907_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zH9G2XOzi0sk" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zidxepKU6Vnh" style="text-align: right" title="Principal At Issuance">769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zXcC3DsEYqqb" style="text-align: right" title="Gross proceeds before issuance costs">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zIuORmHEZtL4" style="text-align: right" title="Warrants at issued (common stock)">615,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zO0EGbcDzhGg" title="Maturity Date">3/6/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_900_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zi1mbJjESsMi" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zW2tfAohXEef" style="text-align: right" title="Principal At Issuance">1,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zjNTwAleJcy7" style="text-align: right" title="Gross proceeds before issuance costs">975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zgE6FSfdRWTb" style="text-align: right" title="Warrants at issued (common stock)">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zrXCUVYBPRv5" title="Maturity Date">3/6/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_90C_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zSlw6STWJTU4" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zo7iPSmY1nM9" style="text-align: right" title="Principal At Issuance">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zJwOgiohkTT2" style="text-align: right" title="Gross proceeds before issuance costs">650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_z440Jt2GVRh3" style="text-align: right" title="Warrants at issued (common stock)">799,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zGQpRgcDOPv2" title="Maturity Date">8/4/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_909_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zPB4naJRIBl" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes⁽³⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zDwalH16pGhj" style="text-align: right" title="Principal At Issuance">2,885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_z6gI8ZxYGMVd" style="text-align: right" title="Gross proceeds before issuance costs">1,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zAsDUXU4Pk67" style="text-align: right" title="Warrants at issued (common stock)">26,997,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zl9BVM7cfkR6" title="Maturity Date">9/26/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_904_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zXTLYFKmAsLa" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Aditxt April Note</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_z97QWSJyMuV8" style="text-align: right" title="Principal At Issuance">2,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zacAnLEZse26" style="text-align: right" title="Gross proceeds before issuance costs">1,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zrCOHJkfsy4d" style="text-align: right" title="Warrants at issued (common stock)">149,850,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zFLSmcssl8Kg" title="Maturity Date">4/8/2028</span></td><td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zhMzWoJeq3c3" title="Maturity Date">4/8/2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Aditxt June Note</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_z7803G4DW4Ek" style="border-bottom: Black 1pt solid; text-align: right" title="Principal At Issuance">1,423</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zzxMCHxyKd7h" style="border-bottom: Black 1pt solid; text-align: right" title="Gross proceeds before issuance costs">925</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zsw2zAyJJPyg" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants at issued (common stock)">92,407,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zKh0p568YzYe" title="Maturity date">6/26/2028</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zTwF6IIevW0i" title="Maturity date">6/26/2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Offerings</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zpCdrJSrCbIb" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal At Issuance">14,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zmMrde25ZYD6" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross proceeds before issuance costs">9,565</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zMquWLQaRcb1" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants at issued (common stock)">273,391,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span id="xdx_F02_zE79BE6cMtki" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_znHGaByqkE5g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230228__srt--CounterpartyNameAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember_zLAudI4DEJwk" title="Number of shares to purchase capital stock">99,692</span> issued to the placement agent.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F0C_znIn0v0Ewe5g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zuj0hKD4HG07" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230331__srt--CounterpartyNameAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember_zAdBy9mkdUm5" title="Number of shares to purchase capital stock">43,200</span> issued to the placement agent.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F07_zsVreLTwZaFa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F10_zsPeSG3qtsoa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantMember_zrk2vNb4oHOe" title="Warrants">22,189,349</span> common warrants at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantMember_z7Sae354ETEf" title="Warrants exercise price">0.13</span> per share at issuance and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zbUUrR9jkDha" title="Warrants">4,807,692</span> pre-funded warrants exercisable at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zMe3EHP9BCf3" title="Warrants exercise price">0.001</span> per share.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F07_z09oV9g4Pkh7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1B_zAWlDEgmRuhj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described above, for accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs. The maturity date under the Exchanged SSNs is December 1, 2026.</span></td></tr> </table> <p id="xdx_8A9_zCAILa881My2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Short-term Debt</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Insurance Premium Finance Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2024, the Company entered into an insurance premium finance agreement with First Insurance Funding (FIF) to finance a portion of the year’s Directors and Officers (D&amp;O) and general insurance policies. The total amount financed was $<span id="xdx_908_ecustom--ShortTermFinancedBorrowings_iI_pn5n6_c20240630_ztXzN2bds0Pg" title="Short term debt">0.4</span> million at an annual interest rate of <span id="xdx_90D_eus-gaap--DebtConversionOriginalDebtInterestRateOfDebt_pid_uPure_c20240601__20240630__us-gaap--TypeOfArrangementAxis__custom--InsurancePremiumFinanceAgreementMember_zkLbt0gVOqDj" title="Annual interest rate">8.57</span>%. The Company made nine equal payments, commencing in July 2024. The interest expense, included in other expense, net, in the condensed consolidated statement of operations, was immaterial for the three months ended March 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2025, the Company entered into an insurance premium finance agreement with FIF to finance a portion of its current year’s D&amp;O and general insurance policies. The total amount financed was $<span id="xdx_90C_ecustom--ShortTermFinancedBorrowings_iI_pn5n6_c20250630_z0zx6rf5Q1q9" title="Short term debt">0.4</span> million at an annual interest rate of <span id="xdx_900_eus-gaap--DebtConversionOriginalDebtInterestRateOfDebt_pid_dp_uPure_c20250601__20250630__us-gaap--TypeOfArrangementAxis__custom--InsurancePremiumFinanceAgreementMember_zM6d7nieLmX7" title="Annual interest rate">7.82</span>%. The Company made eight equal payments, commencing in August 2025. The interest expense, included in other expense, net, in the condensed consolidated statement of operations, was immaterial for the three months ended March 31, 2026. The balance was paid in full as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 25000000.0 25000000.0 2731 4575 P5Y P5Y 0.100 0.100 3000000.0 2700000 P10D 1 9356.25 1.10 1.10 4575 4575 1.15 1.15 50000000 100000000.0 582886 93.75 0.0154 725.81 1 1 20000000 93.75 100000000.0 26.25 P2Y 5000000.0 92700000 100000000.0 100000000 0.10 1000000.0 <p id="xdx_89C_ecustom--ScheduleOfCashPaymentsDeterminedBasedUponTheQuarterlyGlobalNetRevenueTableTextBlock_zfenOH4W15lf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zkDbhoiWiyWi" style="display: none">Schedule of Cash payments Determined based Upon the Quarterly Global Net Revenue</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quarterly global net revenue</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quarterly cash payment</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">≤ $5.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueOneMember_zicSfBCIfGe3" title="Quarterly cash payment">3% of such global net revenues</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&gt;$5.0 million and <i>≤ </i>$7.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueTwoMember_zPbQGbTcNNC9" title="Quarterly cash payment">3% on net revenue ≤ $5.0 million</span>; <br/> <span id="xdx_90F_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueTwoMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentOneMember_zzWlV51NamSb" title="Quarterly cash payment">4% on the net revenue over $5.0 million</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greater than $7.0 million</span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember_zj3oFO31IZmj" title="Quarterly cash payment">3% on the net revenue ≤ $5.0 million</span>; <br/> <span id="xdx_900_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentOneMember_z2crzdk2OfSf" title="Quarterly cash payment">4% on the net revenue over $5.0 million and up to $7.0 million</span>; <br/> <span id="xdx_901_eus-gaap--LongTermDebtContingentPaymentOfPrincipalOrInterest_c20230901__20230930__us-gaap--DebtInstrumentAxis__custom--QuarterlyGlobalNetRevenueThreeMember__srt--StatementScenarioAxis__custom--QuarterlyCashPaymentTwoMember_zg5nLSXy6079" title="Quarterly cash payment">5% on net revenue over $7.0 million</span></span></td></tr> </table> 3% of such global net revenues 3% on net revenue ≤ $5.0 million 4% on the net revenue over $5.0 million 3% on the net revenue ≤ $5.0 million 4% on the net revenue over $5.0 million and up to $7.0 million 5% on net revenue over $7.0 million 1000000.0 1500000 <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zKzuj62aewsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fourth Amendment also granted the Company the ability to repurchase the principal amount and accrued and unpaid interest of the Baker Notes for up to a five-year period for the one-time Repurchase Price designated below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zT8SbYrkRaRd" style="display: none">Schedule of Repurchase Price Reduction</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of Notes’ Repurchase</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Repurchase Price</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On or prior to September 8, 2024</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90A_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--PriorToSeptemberEightTwoThousandAndTwentyFourMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zQAbUcIaPuG3" title="Debt instrument, repurchase amount">14,000,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2024-September 8, 2025</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_906_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentyFourToSeptemberEightTwoThousandAndTwentyFiveMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zwmv70bICBWj" title="Debt instrument, repurchase amount">16,750,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2025-September 8, 2026</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90F_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentyFiveToSeptemberEightTwoThousandAndTwentySixMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_zTvndYAX2efd" title="Debt instrument, repurchase amount">19,500,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2026-September 8, 2027</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90F_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentySixToSeptemberEightTwoThousandAndTwentySevenMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_z686I9IKkLc8" title="Debt instrument, repurchase amount">22,250,000</span> (less Applicable Reductions)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 9, 2027-September 8, 2028</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_907_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pp0p0_c20230908__us-gaap--DebtInstrumentRedemptionPeriodAxis__custom--SeptemberNineTwoThousandAndTwentySevenToSeptemberEightTwoThousandAndTwentyEightMember__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember_z6HpA8yctsW2" title="Debt instrument, repurchase amount">25,000,000</span> (less Applicable Reductions)</span></td></tr> </table> 14000000 16750000 19500000 22250000 25000000 13500000 12300000 100000 1000000.0 15200000 123200000 15500000 120500000 the Notices (the Third Amended Notice of Default) which added new claims of default based on (i) the Company’s failure to maintain a cash position of $1.0 million or greater, as required under Section 5(b) of the Forbearance Agreement and (ii) the Company’s failure to deliver financial and operating reports in accordance with the timeline required under the Section 8.1(n) of the Baker Bros. Purchase Agreement, and claimed the outstanding balance under the notes of the Baker Stock Purchase Agreement, plus all accrued and unpaid interest thereon, to be approximately $107.0 million as opposed to the Repurchase Price as defined in the Fourth Amendment. The alleged Events of Defaults have not been waived or cured. 25000000.0 0.075 0.075 600000 600000 0.1999 6843.75 6843.75 18750 100000000.0 100000000.0 678.49 1 1 P30D 18750 100000000.0 26.25 0.10 2900000 109842 0.0154 2167822060 13000000.0 400000 0.0001 400000 25000000.0 33400000 22500000 10900000 32800000 22500000 10300000 0.080 608787963 0.12 0.325 0.0154 1200000 2300000 149850150 1400000 92407592 650 1000 242257742 0.0154 0.08 2400000 260190463 The Aditxt April Notes’ and the Aditxt June Notes’ interest rates are subject to increase to 12% upon an event of default and they have no Company right to prepayment prior to maturity; however, the Company has the option to redeem the respective notes at a redemption premium of 32.5%. Aditxt can also require the Company to redeem the notes a) at the respective premium rate tied to the occurrence of certain subsequent transactions, and b) in the event of subsequent placements (as defined in the respective SPAs). Also, pursuant to the terms of the respective SPAs, Aditxt has certain rights to participate in subsequent issuances of the Company’s securities, subject to certain exceptions, and the shares of Company Common Stock underlying the Aditxt April Offering and the Aditxt June Offering are unregistered. Additionally, the conversion rate and warrant strike price are subject to adjustment upon the issuance of other securities (as defined in the respective SPAs) below the stated conversion rate and strike price at issuance. <p id="xdx_893_ecustom--ScheduleOfSeniorSubordinatedNotesAndWarrantsTableTextBlock_z3cH7slZd1R4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary of Aditxt Notes, Exchanged SSNs and Warrants at Issuance (December 2022 to September 2023 and April to June 2025):</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zbetGCyKSgk9" style="display: none">Schedule of SSNs and Warrants</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Principal At</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net Proceeds Before</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Notes</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance<br/> (in Thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance<br/> costs (in<br/> Thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common<br/> Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred<br/> Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Original</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity Date</b></span></p></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Current</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity Date</b></span></p></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes⁽⁴⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zH4nyXNGidS3" style="width: 7%; text-align: right" title="Principal At Issuance">2,308</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zhnlOPHOvhW8" style="width: 7%; text-align: right" title="Gross proceeds before issuance costs">1,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zxfvyUgH061e" style="width: 7%; text-align: right" title="Warrants at issued (common stock)">369,230</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_pid_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_z8xbu3mQA2r5" title="Preferred Shares">70</span> - Series D </span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 9%; text-align: center"><span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zwugvI4uCdsc" title="Maturity Date">12/21/2025</span></td><td style="width: 2%"> ⁽⁴⁾</td> <td style="width: 9%; text-align: center"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember_fKDQp_zfpo4LLQw4Ab" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes⁽¹⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zY4PR6aTOZK7" style="text-align: right" title="Principal At Issuance">1,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zAjYJFJhuHff" style="text-align: right" title="Gross proceeds before issuance costs">900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zhTLAnBqdrSe" style="text-align: right" title="Warrants at issued (common stock)">653,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zAOGqF7Xfjrg" title="Maturity Date">2/17/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_900_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember_fKDEpKDQp_zdyJf0BjwKJc" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zYn7d1xLAmi5" style="text-align: right" title="Principal At Issuance">600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zVXdcBmdMkcl" style="text-align: right" title="Gross proceeds before issuance costs">390</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zj4GZxk4XzW8" style="text-align: right" title="Warrants at issued (common stock)">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_zauMjPfRBPIb" title="Maturity Date">3/17/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember_fKDQp_z6XPmLhJik55" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes⁽²⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_z98wg3JSnFN2" style="text-align: right" title="Principal At Issuance">538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zhtvVLI1NNXc" style="text-align: right" title="Gross proceeds before issuance costs">350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zpoY6OPt23F2" style="text-align: right" title="Warrants at issued (common stock)">258,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zjaf1HssA1Te" title="Maturity Date">3/20/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_907_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MarchTwo2023NotesMember_fKDIpKDQp_zH9G2XOzi0sk" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zidxepKU6Vnh" style="text-align: right" title="Principal At Issuance">769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zXcC3DsEYqqb" style="text-align: right" title="Gross proceeds before issuance costs">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zIuORmHEZtL4" style="text-align: right" title="Warrants at issued (common stock)">615,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zO0EGbcDzhGg" title="Maturity Date">3/6/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_900_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember_fKDQp_zi1mbJjESsMi" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zW2tfAohXEef" style="text-align: right" title="Principal At Issuance">1,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zjNTwAleJcy7" style="text-align: right" title="Gross proceeds before issuance costs">975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zgE6FSfdRWTb" style="text-align: right" title="Warrants at issued (common stock)">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zrXCUVYBPRv5" title="Maturity Date">3/6/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_90C_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember_fKDQp_zSlw6STWJTU4" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zo7iPSmY1nM9" style="text-align: right" title="Principal At Issuance">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zJwOgiohkTT2" style="text-align: right" title="Gross proceeds before issuance costs">650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_z440Jt2GVRh3" style="text-align: right" title="Warrants at issued (common stock)">799,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zGQpRgcDOPv2" title="Maturity Date">8/4/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_909_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember_fKDQp_zPB4naJRIBl" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes⁽³⁾⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zDwalH16pGhj" style="text-align: right" title="Principal At Issuance">2,885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_z6gI8ZxYGMVd" style="text-align: right" title="Gross proceeds before issuance costs">1,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zAsDUXU4Pk67" style="text-align: right" title="Warrants at issued (common stock)">26,997,041</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zl9BVM7cfkR6" title="Maturity Date">9/26/2026</span></td><td> ⁽⁴⁾</td> <td style="text-align: center"><span id="xdx_904_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember_fKDMpKDQp_zXTLYFKmAsLa" title="Maturity Date">12/1/2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Aditxt April Note</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_z97QWSJyMuV8" style="text-align: right" title="Principal At Issuance">2,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zacAnLEZse26" style="text-align: right" title="Gross proceeds before issuance costs">1,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zrCOHJkfsy4d" style="text-align: right" title="Warrants at issued (common stock)">149,850,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zFLSmcssl8Kg" title="Maturity Date">4/8/2028</span></td><td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtAprilNotesMember_zhMzWoJeq3c3" title="Maturity Date">4/8/2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Aditxt June Note</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_z7803G4DW4Ek" style="border-bottom: Black 1pt solid; text-align: right" title="Principal At Issuance">1,423</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zzxMCHxyKd7h" style="border-bottom: Black 1pt solid; text-align: right" title="Gross proceeds before issuance costs">925</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zsw2zAyJJPyg" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants at issued (common stock)">92,407,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zKh0p568YzYe" title="Maturity date">6/26/2028</span></td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_906_ecustom--DebtInstrumentCurrentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--AditxtJuneNotesMember_zTwF6IIevW0i" title="Maturity date">6/26/2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Offerings</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zpCdrJSrCbIb" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal At Issuance">14,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ProceedsFromIssuanceOfDebt_pn3n3_c20260101__20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zmMrde25ZYD6" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross proceeds before issuance costs">9,565</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20260101__20260331__us-gaap--DebtInstrumentAxis__us-gaap--SeniorSubordinatedNotesMember_zMquWLQaRcb1" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants at issued (common stock)">273,391,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span id="xdx_F02_zE79BE6cMtki" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_znHGaByqkE5g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230228__srt--CounterpartyNameAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember_zLAudI4DEJwk" title="Number of shares to purchase capital stock">99,692</span> issued to the placement agent.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F0C_znIn0v0Ewe5g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1C_zuj0hKD4HG07" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230331__srt--CounterpartyNameAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember_zAdBy9mkdUm5" title="Number of shares to purchase capital stock">43,200</span> issued to the placement agent.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F07_zsVreLTwZaFa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F10_zsPeSG3qtsoa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants include <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantMember_zrk2vNb4oHOe" title="Warrants">22,189,349</span> common warrants at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantMember_z7Sae354ETEf" title="Warrants exercise price">0.13</span> per share at issuance and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zbUUrR9jkDha" title="Warrants">4,807,692</span> pre-funded warrants exercisable at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFNTTnMgYW5kIFdhcnJhbnRzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandTwentyTwoToSeptemberTwoThousandTwentyThreeAndAprilToJuneTwoThousandTwentyFiveMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zMe3EHP9BCf3" title="Warrants exercise price">0.001</span> per share.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F07_z09oV9g4Pkh7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1B_zAWlDEgmRuhj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described above, for accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs. The maturity date under the Exchanged SSNs is December 1, 2026.</span></td></tr> </table> 2308000 1500000 369230 70 2025-12-21 2026-12-01 1385000 900000 653538 2026-02-17 2026-12-01 600000 390000 240000 2026-03-17 2026-12-01 538000 350000 258584 2026-03-20 2026-12-01 769000 500000 615384 2026-03-06 2026-12-01 1500000 975000 1200000 2026-03-06 2026-12-01 1000000 650000 799999 2026-08-04 2026-12-01 2885000 1875000 26997041 2026-09-26 2026-12-01 2308000 1500000 149850150 2028-04-08 2028-04-08 1423000 925000 92407592 2028-06-26 2028-06-26 14716000 9565000 273391518 99692 43200 22189349 0.13 4807692 0.001 400000 8.57 400000 0.0782 <p id="xdx_802_eus-gaap--SupplementalBalanceSheetDisclosuresTextBlock_zu9leuJfAI5l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_005"></span>5. <span id="xdx_82E_zT7bfuFxoiCi">Balance Sheet Details</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Inventories</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zzhSLGvgVb84" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zg3YL1x9v18a" style="display: none">Schedule of Inventories</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331_zbFh8GC87NQa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zEddNgKbi6ch" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryRawMaterials_iI_pn3n3_maIGzVHB_zfTfj81jrVl6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">171</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">206</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maIGzVHB_zfXq9CvQzyB6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,265</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maIGzVHB_z6gO6z5Qpck6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">454</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">622</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryNet_iTI_pn3n3_mtIGzVHB_zR7KqRRS8u8l" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,890</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,129</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zWOvkqMySBe3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Prepaid and Other Current Assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zlTFzvycOpab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid and other current assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zYlttuEwlXlc" style="display: none">Schedule of Prepaid and Other Current Assets</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_zUFuj5BEevhi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zRqbaJo2X808" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAz3Jn_zjkklf9ce9m7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">436</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrescriptionDrugUserFeeActFees_iI_pn3n3_maPEAOAz3Jn_zVvuyugv3Wpj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prescription Drug User Fee Act (PDUFA) fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1099">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidReceivableCurrent_iI_pn3n3_maPEAOAz3Jn_zcNrRLX2Ze52" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Receivable from Pharma 1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">377</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--PrepaidOutsideServiceRetainers_iI_pn3n3_maPEAOAz3Jn_ztre05U9U1Dc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside service retainers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositsAssetsCurrent_iI_pn3n3_maPEAOAz3Jn_z1QxIt8dCJKi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Short-term deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">131</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAz3Jn_zPjbBfWsg1Hb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAz3Jn_zlhCxzMk571g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zQndhpkHw3U7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Property and Equipment, Net</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--PropertyPlantAndEquipmentTextBlock_zEUZsnIt43d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net, consists of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zunW5jPkT5o6" style="display: none">Schedule of Property and Equipment Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_z04kzvWWyfKe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zFmQ5RabHN85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zwaIu6wQpV2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research equipment</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zSZlir3DEO38" title="Useful Life">5</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">96</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">96</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zPUvzNGs6gDk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment and software</td><td> </td> <td style="text-align: center"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_z5PsRfz1h0ak" title="Useful Life">3</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zPB7SAXUx5P2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in-process</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">-</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzYrp_zpIPl1qYb1pj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">535</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzYrp_zpMb6i9I5Vq2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(119</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(116</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzYrp_zRTu6Aruxegh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">416</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zqeozhWyWhnl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense for property and equipment was immaterial in each of the three months ended March 31, 2026 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intangible Asset, Net</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z8TfaelY25pb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible asset, net, consists of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z7Wb8FKBHaa5" style="display: none">Schedule of Intangible Assets, Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zNnpA5Eac4l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zcBOtpcsMdP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzl4P_z7KXzlMRblFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Intellectual property</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20260331_z3lvfNlrA7M7" title="Intellectual property useful life">16</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,971</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,466</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzl4P_zcXzS1v69iCb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,193</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,118</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzl4P_zrBmWYM5mKEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">778</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,348</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zeLRq9Ie5xy7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The intangible asset relates entirely to the asset acquired with the SOLOSEC asset acquisition and as described further in <a href="#n_007">Note 7 – Commitments and Contingencies</a>, the useful life is based on the SOLOSEC IP patent expiration. Amortization expense was $<span id="xdx_908_eus-gaap--AmortizationOfIntangibleAssets_pn5n6_c20260101__20260331_z0F3Ts99wMyf" title="Amortization expense">0.1</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_90D_eus-gaap--AmortizationOfIntangibleAssets_pn5n6_c20250101__20250331_zaNcQTYhvUa" title="Amortization expense">0.2</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million in the three months ended March 31, 2026 and 2025, respectively. Amortization expense is expected to be immaterial for the remainder of 2026 and approximately $<span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn5n6_c20260331_z6nKeXUZC6Pj" title="Intangible asset fully amortized">0.1 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million in each subsequent year until the intangible asset is fully amortized, which will be in approximately <span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260331_zYP2VzmKCDuc" title="Intangible assets expected remaining useful life">14.2</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years. As described in <a href="#n_002">Note 2 – Summary of Significant Accounting Policies</a>, the intangible asset value is adjusted at each reporting date in conjunction with the mark-to-market adjustment of the contingent liabilities, which could impact the expected amortization. The intangible asset fair value was reduced by $<span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsFairValueDisclosure_iI_pn5n6_c20260331_znkfSJjaVEp5" title="Intangible asset net">3.5</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetsFairValueDisclosure_iI_pn5n6_c20250331_zYbmcbm3iQA" title="Intangible asset net">2.9</span> million in the three months ended March 31, 2026 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Accrued Expenses</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zT0XNWdkRf59" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zyYX5Xu4YLqe" style="display: none">Schedule of Accrued Expenses</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_ztRMwlxIUyr6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_z1rLPIZfatge" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedRoyaltiesCurrent_iI_pn3n3_maALCzBDk_zItOjYzq2MDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued royalty</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">27</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">28</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedBonusesCurrentAndNoncurrent_iI_pn3n3_maALCzBDk_zNK3feXBcNG8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation for non-employee directors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">594</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzBDk_zOqjEnwnJtC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">611</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzBDk_zgLwVXnHxHHg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,292</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zA1DfUrkagP6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Other current liabilities</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_zAqMwtalQGJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other current liabilities consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zIv4EE903Yr4" style="display: none">Schedule of Other Current Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_zadw7MrJo5N7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_z6edM09ognkl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--VariableConsiderationsRelatedToRevenueCurrent_iI_pn3n3_maOLCzamo_zndfDCoHF2aj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Variable consideration related to net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">9,757</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">11,226</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LiabilityForLossOnPurchaseCommitment_iI_pn3n3_maOLCzamo_znqvfmhKKBV9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liability for loss on purchase commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1184">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maOLCzamo_zrZ5BxMp5rak" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherSundryLiabilitiesCurrent_iI_pn3n3_maOLCzamo_z04JDSpTsDP1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">72</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_mtOLCzamo_zgtkJuv6sVR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,231</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,016</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zDpoWiKNST29" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zzhSLGvgVb84" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zg3YL1x9v18a" style="display: none">Schedule of Inventories</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331_zbFh8GC87NQa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zEddNgKbi6ch" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryRawMaterials_iI_pn3n3_maIGzVHB_zfTfj81jrVl6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">171</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">206</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maIGzVHB_zfXq9CvQzyB6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,265</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maIGzVHB_z6gO6z5Qpck6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">454</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">622</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryNet_iTI_pn3n3_mtIGzVHB_zR7KqRRS8u8l" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,890</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,129</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 171000 206000 1265000 301000 454000 622000 1890000 1129000 <p id="xdx_893_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zlTFzvycOpab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid and other current assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zYlttuEwlXlc" style="display: none">Schedule of Prepaid and Other Current Assets</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_zUFuj5BEevhi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zRqbaJo2X808" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAz3Jn_zjkklf9ce9m7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">436</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrescriptionDrugUserFeeActFees_iI_pn3n3_maPEAOAz3Jn_zVvuyugv3Wpj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prescription Drug User Fee Act (PDUFA) fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1099">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidReceivableCurrent_iI_pn3n3_maPEAOAz3Jn_zcNrRLX2Ze52" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Receivable from Pharma 1</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">377</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--PrepaidOutsideServiceRetainers_iI_pn3n3_maPEAOAz3Jn_ztre05U9U1Dc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside service retainers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositsAssetsCurrent_iI_pn3n3_maPEAOAz3Jn_z1QxIt8dCJKi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Short-term deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">131</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAz3Jn_zPjbBfWsg1Hb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAz3Jn_zlhCxzMk571g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 161000 436000 442000 188000 377000 26000 98000 129000 131000 281000 55000 1227000 1097000 <p id="xdx_890_eus-gaap--PropertyPlantAndEquipmentTextBlock_zEUZsnIt43d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net, consists of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zunW5jPkT5o6" style="display: none">Schedule of Property and Equipment Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_z04kzvWWyfKe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zFmQ5RabHN85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zwaIu6wQpV2i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research equipment</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zSZlir3DEO38" title="Useful Life">5</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">96</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">96</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zPUvzNGs6gDk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment and software</td><td> </td> <td style="text-align: center"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_z5PsRfz1h0ak" title="Useful Life">3</span> years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zPB7SAXUx5P2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in-process</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">-</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzYrp_zpIPl1qYb1pj" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">535</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzYrp_zpMb6i9I5Vq2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(119</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(116</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzYrp_zRTu6Aruxegh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">416</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P5Y 96000 96000 P3Y 37000 36000 402000 402000 535000 534000 119000 116000 416000 418000 <p id="xdx_89A_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z8TfaelY25pb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible asset, net, consists of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z7Wb8FKBHaa5" style="display: none">Schedule of Intangible Assets, Net</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zNnpA5Eac4l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zcBOtpcsMdP3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzl4P_z7KXzlMRblFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Intellectual property</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20260331_z3lvfNlrA7M7" title="Intellectual property useful life">16</span> years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,971</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,466</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzl4P_zcXzS1v69iCb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,193</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,118</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzl4P_zrBmWYM5mKEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">778</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,348</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P16Y 1971000 5466000 1193000 1118000 778000 4348000 100000 200000 100000 P14Y2M12D 3500000 2900000 <p id="xdx_899_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zT0XNWdkRf59" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zyYX5Xu4YLqe" style="display: none">Schedule of Accrued Expenses</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_ztRMwlxIUyr6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_z1rLPIZfatge" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedRoyaltiesCurrent_iI_pn3n3_maALCzBDk_zItOjYzq2MDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued royalty</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">27</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">28</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedBonusesCurrentAndNoncurrent_iI_pn3n3_maALCzBDk_zNK3feXBcNG8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation for non-employee directors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">594</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzBDk_zOqjEnwnJtC8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">611</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzBDk_zgLwVXnHxHHg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,292</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 27000 28000 594000 653000 584000 611000 1205000 1292000 <p id="xdx_894_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_zAqMwtalQGJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other current liabilities consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zIv4EE903Yr4" style="display: none">Schedule of Other Current Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_zadw7MrJo5N7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_z6edM09ognkl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--VariableConsiderationsRelatedToRevenueCurrent_iI_pn3n3_maOLCzamo_zndfDCoHF2aj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Variable consideration related to net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">9,757</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">11,226</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LiabilityForLossOnPurchaseCommitment_iI_pn3n3_maOLCzamo_znqvfmhKKBV9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liability for loss on purchase commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1184">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maOLCzamo_zrZ5BxMp5rak" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherSundryLiabilitiesCurrent_iI_pn3n3_maOLCzamo_z04JDSpTsDP1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">72</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_mtOLCzamo_zgtkJuv6sVR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,231</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,016</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 9757000 11226000 304000 402000 402000 72000 84000 10231000 12016000 <p id="xdx_801_eus-gaap--FairValueMeasurementInputsDisclosureTextBlock_zvB7isGIMkN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_006"></span>6. <span id="xdx_82E_zMFjaUVcqDo6">Fair Value of Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fair Value of Financial Liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_hus-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zSMNJ85Pqf4b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables summarize the Company’s convertible debt instruments as of March 31, 2026 and December 31, 2025, respectively (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_za3luR7hHxB3" style="display: none">Schedule of Fair Value of Financial Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accrued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Carrying</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker Notes⁽¹⁾⁽²⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zmp1Xvinh6va" style="width: 9%; text-align: right" title="Principal Amount">123,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_znZ2c8QQYCne" style="width: 9%; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1202">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zlUmSRAUlc4b" style="width: 9%; text-align: right" title="Net Carrying Amount">123,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zc6KVb43axE7" style="width: 9%; text-align: right" title="Fair Value Amount">15,181</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjuvant Notes⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zWQOOnCp12b2" style="text-align: right" title="Principal Amount">22,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zxdZxn9F2oT2" style="text-align: right" title="Accrued Interest">10,884</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zbqQC6XsOKRh" style="text-align: right" title="Net Carrying Amount">33,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zBNiRH3YLVN2" style="text-align: right" title="Principal Amount">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z3h5F7GtNFbc" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1216">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCU7NjnFK8tc" style="text-align: right" title="Net Carrying Amount">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zWrDuZnxhg54" style="text-align: right" title="Fair Value Amount">202</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ziUkTreaubah" style="text-align: right" title="Principal Amount">984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z6Dw6zwDuXt8" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1224">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zpgGUqCDKYEl" style="text-align: right" title="Net Carrying Amount">984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zsaNmdR1Jhi3" style="text-align: right" title="Fair Value Amount">304</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztJwKwDGXifh" style="text-align: right" title="Principal Amount">1,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zuEeMPBz7ZH6" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1232">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJlCZzZmw1b7" style="text-align: right" title="Net Carrying Amount">1,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zvu3GyB9a1Ob" style="text-align: right" title="Fair Value Amount">354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zFrjmd1kxzE6" style="text-align: right" title="Principal Amount">736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCMWxHGn9oM8" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1240">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z94Fn9ZfGmMl" style="text-align: right" title="Net Carrying Amount">736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zsdORHlLA8p8" style="text-align: right" title="Fair Value Amount">228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zs88Uw6bohT5" style="text-align: right" title="Principal Amount">1,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zixfmvekKm9i" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1248">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zpkGBTVwxpk6" style="text-align: right" title="Net Carrying Amount">1,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zDjvmc2kh1Pa" style="text-align: right" title="Fair Value Amount">444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJdt55Vpp0Tk" style="text-align: right" title="Principal Amount">1,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zcvfJOcp8TUj" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1256">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zmY6vwPkI3w4" style="text-align: right" title="Net Carrying Amount">1,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z2qnMaV4HrL4" style="text-align: right" title="Fair Value Amount">310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zQmKAUhpwDma" style="text-align: right" title="Principal Amount">3,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z4DwHn407Tg5" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1264">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zxqZ4hToXwDj" style="text-align: right" title="Net Carrying Amount">3,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zq9jHfj3PsEe" style="text-align: right" title="Fair Value Amount">1,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aditxt Notes⁽¹⁾</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zHwnOthGquj2" style="border-bottom: Black 1pt solid; text-align: right" title="Principal Amount">4,007</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zlQEtj4FTsth" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zv68LZo1lhj4" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">4,007</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zUIiD5gQ3uL4" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value Amount">843</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Totals</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zpyWD0sC2d27" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal Amount">159,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zZpxkNn46wr1" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued Interest">10,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zujzyDe7TRLk" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">169,941</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zDp5PU6C3Pxg" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value Amount">18,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accrued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Carrying</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker Notes⁽¹⁾⁽²⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zriZKmqYh9uf" style="width: 9%; text-align: right" title="Principal Amount">120,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zNoNk20Fwp32" style="width: 9%; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1288">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zM4SRMHvBoN6" style="width: 9%; text-align: right" title="Net Carrying Amount">120,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zsoTVVfY2b3e" style="width: 9%; text-align: right" title="Fair Value Amount">15,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjuvant Notes⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zvGQVTlGQP9l" style="text-align: right" title="Principal Amount">22,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_z8EXfORNIdZj" style="text-align: right" title="Accrued Interest">10,270</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zCdVNNmMZEa5" style="text-align: right" title="Net Carrying Amount">32,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zmaTPVQEfrL4" style="text-align: right" title="Principal Amount">642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zMGydc0eMNq4" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1302">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zyCh3tiPiKZ" style="text-align: right" title="Net Carrying Amount">642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zP2YZXsvp50l" style="text-align: right" title="Fair Value Amount">320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z1LYSr21i2a2" style="text-align: right" title="Principal Amount">965</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztO0BTHQ07yj" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1310">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zDP15ydLsYIh" style="text-align: right" title="Net Carrying Amount">965</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zW5XxV9CyIIh" style="text-align: right" title="Fair Value Amount">482</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJ0KUwVNrOGl" style="text-align: right" title="Principal Amount">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zMd6wXoBkUE1" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1318">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zvQ9CDzYFmeb" style="text-align: right" title="Net Carrying Amount">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z5E2EzXyVSp3" style="text-align: right" title="Fair Value Amount">560</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zhSskne9OtZ2" style="text-align: right" title="Principal Amount">722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zkGPMakCRByb" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1326">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zNI6ootX3tWk" style="text-align: right" title="Net Carrying Amount">722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zNvDxGBEXRe3" style="text-align: right" title="Fair Value Amount">360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zLfDGwSZlXql" style="text-align: right" title="Principal Amount">1,407</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zBMkwpWyIwx9" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1334">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zqAB98HNjV3h" style="text-align: right" title="Net Carrying Amount">1,407</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCcOjJL7yS2g" style="text-align: right" title="Fair Value Amount">702</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z2cQaIJElgJk" style="text-align: right" title="Principal Amount">983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCXZGeQuKn55" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1342">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zugbQvOgBtnh" style="text-align: right" title="Net Carrying Amount">983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zFEqZuoqDxoa" style="text-align: right" title="Fair Value Amount">491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztTvVr4I3Dp5" style="text-align: right" title="Principal Amount">3,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z6timugj67Yd" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1350">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zZZBRSfpHzF2" style="text-align: right" title="Net Carrying Amount">3,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zqNwd7nDXSo6" style="text-align: right" title="Fair Value Amount">1,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aditxt Notes⁽¹⁾</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zlM6WBoFwhk5" style="border-bottom: Black 1pt solid; text-align: right" title="Principal Amount">3,928</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zBjVMyRKL4Eh" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1358">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zyvTXqlhQqkl" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">3,928</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_z6NcAnMLpnWl" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value Amount">1,352</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Totals</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z4r6441SLdIj" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal Amount">156,129</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zdIjqSCYDY46" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued Interest">10,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zOKKxTErHb91" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">166,399</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zrUMQcg1zlU6" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value Amount">21,449</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span id="xdx_F01_z6rQvJVCuwgi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zj5QBWHg0xrg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These liabilities were carried at fair value in the condensed consolidated balance sheets as of the applicable reporting date. As such, the principal and accrued interest was included in the determination of fair value. The related debt issuance costs were expensed.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F06_zVv38lVUnZD6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zyu808wmSWq8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Baker Notes principal amount includes $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEZhaXIgVmFsdWUgb2YgRmluYW5jaWFsIExpYWJpbGl0aWVzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_904_eus-gaap--PaidInKindInterest_pn5n6_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zZ2LM0B6w933" title="Interest paid in kind">39.4</span> million and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEZhaXIgVmFsdWUgb2YgRmluYW5jaWFsIExpYWJpbGl0aWVzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--PaidInKindInterest_pn5n6_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zgSX8GKPdRb3" title="Interest paid in kind">36.4</span> million of interest paid in-kind as of March 31, 2026 and December 31, 2025, respectively.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F0F_zCZg2KlAeey9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zfwFyvDvoLX" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes are recorded in the condensed consolidated balance sheets at their net carrying amount which includes principal and accrued interest.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F04_zwnYAGy17DH9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_ziN0rl7LC0k3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs.</span></td></tr> </table> <p id="xdx_8A0_zzuB54HRKWY6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zJIn3j3Md49h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables summarize the Company’s derivative liabilities as of March 31, 2026 and December 31, 2025 as discussed in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zkIJbEZWLP14" style="display: none">Schedule of Fair Value of Derivative Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; text-align: left; padding-bottom: 1pt">Purchase rights</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zH8levjo7Mii" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Derivative liabilities">1,168</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zR9YY5pNc4yj" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Derivative liabilities">1,006</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 14%; text-align: right; padding-bottom: 1pt">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total derivative liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20260331_za7awjBm1ZKf" style="border-bottom: Black 2.5pt double; text-align: right" title="Derivative liabilities">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20251231_z12tXqskFgS3" style="border-bottom: Black 2.5pt double; text-align: right" title="Derivative liabilities">1,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_8A1_zwtG0YNEiQqd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Change in Fair Value of Level 3 Financial Liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zK3V11P5Cf48" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to Baker Notes, Exchanged SSNs, and Aditxt Notes measured at fair value on a recurring basis for the three months ended March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zmVwFc74qnrj" style="display: none">Schedule of Change in Fair Value of Level 3 Financial Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--DebtInstrumentAxis_custom--BakerNotesAssignedToFuturePakMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zon3erdzh7Ti" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Baker Notes <br/> (Assigned to Future Pak;<br/> <a href="#n_004">Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--DebtInstrumentAxis_custom--TotalOfferingsAndAditxtNotesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zvLYZcDc5LA3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Exchanged SSNs and <br/> Aditxt Notes <br/> <a href="#n_004">(Note 4)</a></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_z4FxtSr0Wwai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zFbsS0krEkRf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,939</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">21,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_iN_pn3n3_di_zhid8m1nQujj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(351</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1397">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(351</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment_pn3n3_ziVMn2maFq9a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statement of comprehensive operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,175</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_zuPO4wF959zj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1404">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1405">-</span></td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1406">-</span></td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_43B_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zLXMJ5nlP2ki" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,181</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,742</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to Baker Notes, Exchanged SSNs, and Aditxt Notes measured at fair value on a recurring basis for the three months ended March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Baker Notes <br/> (Assigned to Future Pak; <a href="#n_004"><br/> Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total SSNs<br/> (<a href="#n_004">Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_432_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zcHfqNp0xCEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">13,801</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,173</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,974</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment_pn3n3_z8TxCi6CB6Tj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statement of comprehensive operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(679</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(647</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zFddHFfB6Pcc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,833</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">494</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,327</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to derivative liabilities measured at fair value on a recurring basis for the three months ended March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zlPMovjUdy9j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Purchase Rights</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zyvg40uyOYX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liabilities Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z6m5RqqleoVc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_z9zcwGsqcfol" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_434_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_z9IVe8a7TA5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to derivative liabilities measured at fair value on a recurring basis for the three months ended March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_z4MFtN9uQEz7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Purchase Rights</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zORsEYGpQOLh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liabilities Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43A_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zec8NXVV6nMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_439_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z0G7PLGNzvpf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_zw7Jmr4dR9Md" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_434_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zNuxV5ZXcEr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_437_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zfTrqh6MZ7Ck" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zBBstj2UrXOk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Valuation Methodology</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Baker Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the Baker Notes is determined using a Monte Carlo simulation-based model and is subject to uncertainty due to the assumptions used in the model. The fair value of the Baker Notes is sensitive to these estimated inputs made by management that are used in the calculation. The Monte Carlo simulation takes into account several embedded features and factors and management inputs, including the exercise of the repurchase rights, the Company’s future revenues, meeting certain debt covenants, the maturity term of the note and dissolution. For the dissolution scenario, the cost approach, an adjusted net asset value method was used to determine the net recoverable value of the Company, including an estimate of the fair value of the Company’s intellectual property. The estimated fair value of the Company’s intellectual property was valued using a relief from royalty method which required management to make significant estimates and assumptions related to forecasts of future revenue, and the selection of the royalty (<span id="xdx_903_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputRoyaltyRateMember_zDRuAyNGPZn9" title="Interest rate">5.0</span>%) and discount (<span id="xdx_903_eus-gaap--DebtInstrumentMeasurementInput_iI_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zgMQk76Hnlsj" title="Interest rate">13.9</span>%) rates. The key unobservable inputs used in the valuation include a risk-free rate of <span id="xdx_90D_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--RiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zr4maHv7XoAe" title="Valuation include a risk free rate">3.8</span>%, a discount rate of <span id="xdx_90F_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--DiscountRateMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zU6PZT9Rw9yk" title="Valuation include a risk free rate">13.9</span>%, a revenue weighted-average cost of capital of <span id="xdx_90E_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--WeightedAverageCostOfCapitalMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_z2MVkocMWNTl" title="weighted average cost">17.9</span>%, a revenue volatility of <span id="xdx_90E_ecustom--AssumptionVolatilityRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--VolatilityMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zczjenaWWUIj" title="Revenue volatility">135</span>% on an annual basis, and an event probability of <span id="xdx_90B_ecustom--ProbabilityWeightedDiscountedCashFlowsAssumptionRate_iI_pid_dp_c20260331__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--MeasurementInputTypeAxis__custom--EventProbabilityMember__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember_zq1Ajtme6jib" title="Event probability">90</span>% for the Baker Notes to be repurchased by September 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exchanged SSNs and Aditxt Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the Exchanged SSNs and Aditxt Notes issued, as described in <a href="#n_004">Note 4 – Debt</a>, were determined by estimating the fair value of the Market Value of Invested Capital (MVIC) of the Company on a going-concern basis. This was estimated using a form of the market approach where comparable market revenue multiples were selected and applied to the Company’s forward revenue forecast to ultimately derive a MVIC indication. An option pricing model (OPM) was then applied to value the Exchanged SSNs by allocating the estimated MVIC through the Company’s capital structure including the more senior notes payoff in a hypothetical exit event. Under the OPM, each debt or equity class is modeled as a call option with a distinct claim on the total value of the Company. The option’s exercise price is based on the Company’s total value available for each participating security holder. By constructing a series of options in which the exercise price is set at incremental levels of value, which correspond to the value necessary for each level of debt or equity to participate, the Company determined the incremental option value of each series. When multiplied by the percentage of ownership of each class participating, the result is the incremental value allocated to each class under that series. The key unobservable inputs used in the valuation include the revenue based multiple ranging from 2.75x to 3.0x, a risk-free rate of <span id="xdx_904_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--RiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--ExchangedSsnAndAditxtNotesMember_z4gZgzj9n8P9" title="Valuation include a risk free rate">3.65</span>%, an equity volatility of <span id="xdx_903_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--EquityVolatilityMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--ExchangedSsnAndAditxtNotesMember_zBfByWKgj4B8" title="Valuation include a risk free rate">75</span>%, a time to expiration of 193 days, and a discount for lack of marketability of <span id="xdx_90C_ecustom--FairValueAssumptionRate_iI_pid_dp_c20260331__us-gaap--MeasurementInputTypeAxis__custom--DiscountForLackOfMarketabilityMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember__us-gaap--DebtInstrumentAxis__custom--ExchangedSsnAndAditxtNotesMember_zarnZKa3lFNj" title="Valuation include a risk free rate">32.0</span>% for certain instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Purchase Rights</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Purchase Rights are recorded as derivative liabilities in the condensed consolidated balance sheets. The Purchase Rights are valued using an OPM, such as a Black-Scholes model, with changes in the fair value being recorded in the condensed consolidated statements of operations. The assumptions used in the OPM are considered level 3 assumptions and include, but are not limited to, the MVIC, the cumulative equity value of the Company as a proxy for the exercise price and the expected term the Purchase Rights will be held prior to exercise and a risk-free interest rate. The key unobservable inputs used in the valuation of the Purchase Rights were the same as those used for the Exchanged SSNs and Aditxt Notes as described aforementioned.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants are classified as equity and the Company re-evaluates the classification of its warrants at the close of each reporting period to determine their proper balance sheet classification. The warrants are valued using an OPM based on the applicable assumptions, which include the exercise price of the warrants, time to expiration, expected volatility of our peer group, risk-free interest rate, and expected dividends. The assumptions used in the OPM are considered level 3 assumptions and include, but are not limited to, the MVIC, the cumulative equity value of the Company as a proxy for the exercise price, the expected term the warrants will be held prior to exercise, a risk-free interest rate, and probability of change of control event. Additionally, because the warrants are re-priced under certain provisions in the agreements, at each re-pricing event the Company must value the warrants using a Black-Scholes model immediately prior to and immediately following the re-pricing event. The incremental fair value is recorded as an increase to accumulated deficit and additional paid-in capital, in accordance with ASC 470. The key unobservable inputs used in the valuation of warrants were the same as those used the Exchanged SSNs and Aditxt Notes as described aforementioned.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SOLOSEC Asset Acquisition Intangible Asset and Contingent Liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The total consideration for the SOLOSEC asset acquisition included an up-front payment (paid at closing), sales-based payments to be paid over the next <span id="xdx_902_ecustom--EarnoutTerm_dtY_c20230908__20230908_zB0ajkZTpMJ1" title="Earnout term">15</span> years (the Earnout Term) in each year in which SOLOSEC adjusted net revenue is over a specified threshold, a $<span id="xdx_905_ecustom--NetRevenues_pn5n6_c20230908__20230908_zvuzSpxGQ2J" title="Net revenue">10.0</span> million one-time payment once the cumulative SOLOSEC adjusted net revenues reach $<span id="xdx_908_ecustom--CumulativeNetSales_pn6n6_c20230908__20230908_z7FlWF3zgRQ1" title="Cumulative net sales">100</span> million, and assumption of quarterly royalty payments based on SOLOSEC net revenue. As discussed in <a href="#n_007">Note 7 – Commitments and Contingencies</a>, the fair value of the consideration is attributed to the SOLOSEC product line and was therefore recorded as an intangible asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the total consideration, including cash paid and future sales-based payments, is determined using a Monte Carlo simulation model, which assumes the Company’s revenue follows a geometric Brownian motion. Using specific revenue factors, including expected growth, risk adjustments, and revenue volatility, future revenues were simulated through the Earnout Term to assess whether sales-based payments would be triggered in each relevant period, as stipulated by the SOLOSEC Asset Purchase Agreement. The average output of the Monte Carlo simulations for each period provides the expected payment value, which is then discounted to its present value to derive the fair value of future sales-based payments and recorded as contingent liabilities. The discount rate is a market index rate based on the Company’s credit risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the SOLOSEC contingent liabilities is subject to uncertainty due to the assumptions made by management that are used in the Monte Carlo simulation-based model. These factors include the estimated future SOLOSEC net revenue, the risk-neutral revenue calculation and simulation assumptions, payment timing, and the discount rate. The key unobservable inputs used in the valuation include a risk-free rate of <span id="xdx_902_ecustom--FairValueAssumptionRate_iI_pid_dp_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__custom--RiskFreeInterestRateMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember_zzSeXp3j3brc" title="Risk free rate">4.5</span>%, and a revenue volatility of <span id="xdx_901_ecustom--AssumptionVolatilityRate_iI_pid_dp_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__custom--VolatilityMember__us-gaap--ValuationTechniqueAxis__custom--IncomeApproachMember_z7BBGveG2wO8" title="Revenue volatility">149</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the SOLOSEC contingent liabilities will be updated at each reporting period using the methodology described above. Any changes to the fair value will be recorded as an adjustment to the carrying value of both the contingent liabilities and the SOLOSEC IP intangible asset as per ASC 323, <i>Investments – Equity Method and Joint Ventures</i> (ASC 323). Periodic intangible amortization will also be prospectively updated based on the new fair value of the SOLOSEC IP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_hus-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zSMNJ85Pqf4b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables summarize the Company’s convertible debt instruments as of March 31, 2026 and December 31, 2025, respectively (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_za3luR7hHxB3" style="display: none">Schedule of Fair Value of Financial Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accrued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Carrying</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker Notes⁽¹⁾⁽²⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zmp1Xvinh6va" style="width: 9%; text-align: right" title="Principal Amount">123,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_znZ2c8QQYCne" style="width: 9%; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1202">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zlUmSRAUlc4b" style="width: 9%; text-align: right" title="Net Carrying Amount">123,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zc6KVb43axE7" style="width: 9%; text-align: right" title="Fair Value Amount">15,181</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjuvant Notes⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zWQOOnCp12b2" style="text-align: right" title="Principal Amount">22,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zxdZxn9F2oT2" style="text-align: right" title="Accrued Interest">10,884</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zbqQC6XsOKRh" style="text-align: right" title="Net Carrying Amount">33,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zBNiRH3YLVN2" style="text-align: right" title="Principal Amount">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z3h5F7GtNFbc" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1216">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCU7NjnFK8tc" style="text-align: right" title="Net Carrying Amount">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zWrDuZnxhg54" style="text-align: right" title="Fair Value Amount">202</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ziUkTreaubah" style="text-align: right" title="Principal Amount">984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z6Dw6zwDuXt8" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1224">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zpgGUqCDKYEl" style="text-align: right" title="Net Carrying Amount">984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zsaNmdR1Jhi3" style="text-align: right" title="Fair Value Amount">304</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztJwKwDGXifh" style="text-align: right" title="Principal Amount">1,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zuEeMPBz7ZH6" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1232">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJlCZzZmw1b7" style="text-align: right" title="Net Carrying Amount">1,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zvu3GyB9a1Ob" style="text-align: right" title="Fair Value Amount">354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zFrjmd1kxzE6" style="text-align: right" title="Principal Amount">736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCMWxHGn9oM8" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1240">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z94Fn9ZfGmMl" style="text-align: right" title="Net Carrying Amount">736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zsdORHlLA8p8" style="text-align: right" title="Fair Value Amount">228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zs88Uw6bohT5" style="text-align: right" title="Principal Amount">1,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zixfmvekKm9i" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1248">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zpkGBTVwxpk6" style="text-align: right" title="Net Carrying Amount">1,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zDjvmc2kh1Pa" style="text-align: right" title="Fair Value Amount">444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJdt55Vpp0Tk" style="text-align: right" title="Principal Amount">1,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zcvfJOcp8TUj" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1256">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zmY6vwPkI3w4" style="text-align: right" title="Net Carrying Amount">1,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z2qnMaV4HrL4" style="text-align: right" title="Fair Value Amount">310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zQmKAUhpwDma" style="text-align: right" title="Principal Amount">3,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z4DwHn407Tg5" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1264">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zxqZ4hToXwDj" style="text-align: right" title="Net Carrying Amount">3,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zq9jHfj3PsEe" style="text-align: right" title="Fair Value Amount">1,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aditxt Notes⁽¹⁾</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zHwnOthGquj2" style="border-bottom: Black 1pt solid; text-align: right" title="Principal Amount">4,007</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zlQEtj4FTsth" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1272">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zv68LZo1lhj4" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">4,007</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zUIiD5gQ3uL4" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value Amount">843</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Totals</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zpyWD0sC2d27" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal Amount">159,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zZpxkNn46wr1" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued Interest">10,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zujzyDe7TRLk" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">169,941</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zDp5PU6C3Pxg" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value Amount">18,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accrued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Carrying</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker Notes⁽¹⁾⁽²⁾</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zriZKmqYh9uf" style="width: 9%; text-align: right" title="Principal Amount">120,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zNoNk20Fwp32" style="width: 9%; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1288">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zM4SRMHvBoN6" style="width: 9%; text-align: right" title="Net Carrying Amount">120,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--BakerBrosNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDIp_zsoTVVfY2b3e" style="width: 9%; text-align: right" title="Fair Value Amount">15,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 11%; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjuvant Notes⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zvGQVTlGQP9l" style="text-align: right" title="Principal Amount">22,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_z8EXfORNIdZj" style="text-align: right" title="Accrued Interest">10,270</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AdjuvantNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_fKDMp_zCdVNNmMZEa5" style="text-align: right" title="Net Carrying Amount">32,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">N/A</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 2022 Notes^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zmaTPVQEfrL4" style="text-align: right" title="Principal Amount">642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zMGydc0eMNq4" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1302">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zyCh3tiPiKZ" style="text-align: right" title="Net Carrying Amount">642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--December2022NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zP2YZXsvp50l" style="text-align: right" title="Fair Value Amount">320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z1LYSr21i2a2" style="text-align: right" title="Principal Amount">965</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztO0BTHQ07yj" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1310">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zDP15ydLsYIh" style="text-align: right" title="Net Carrying Amount">965</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--February2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zW5XxV9CyIIh" style="text-align: right" title="Fair Value Amount">482</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zJ0KUwVNrOGl" style="text-align: right" title="Principal Amount">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zMd6wXoBkUE1" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1318">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zvQ9CDzYFmeb" style="text-align: right" title="Net Carrying Amount">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--March2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z5E2EzXyVSp3" style="text-align: right" title="Fair Value Amount">560</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zhSskne9OtZ2" style="text-align: right" title="Principal Amount">722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zkGPMakCRByb" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1326">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zNI6ootX3tWk" style="text-align: right" title="Net Carrying Amount">722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--April2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zNvDxGBEXRe3" style="text-align: right" title="Fair Value Amount">360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zLfDGwSZlXql" style="text-align: right" title="Principal Amount">1,407</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zBMkwpWyIwx9" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1334">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zqAB98HNjV3h" style="text-align: right" title="Net Carrying Amount">1,407</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--July2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCcOjJL7yS2g" style="text-align: right" title="Fair Value Amount">702</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z2cQaIJElgJk" style="text-align: right" title="Principal Amount">983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zCXZGeQuKn55" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1342">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zugbQvOgBtnh" style="text-align: right" title="Net Carrying Amount">983</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--August2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zFEqZuoqDxoa" style="text-align: right" title="Fair Value Amount">491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 2023 Notes ^{(1) (4)}</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_ztTvVr4I3Dp5" style="text-align: right" title="Principal Amount">3,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_z6timugj67Yd" style="text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1350">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zZZBRSfpHzF2" style="text-align: right" title="Net Carrying Amount">3,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--September2023NotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEpKDQp_zqNwd7nDXSo6" style="text-align: right" title="Fair Value Amount">1,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aditxt Notes⁽¹⁾</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zlM6WBoFwhk5" style="border-bottom: Black 1pt solid; text-align: right" title="Principal Amount">3,928</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zBjVMyRKL4Eh" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued Interest"><span style="-sec-ix-hidden: xdx2ixbrl1358">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_zyvTXqlhQqkl" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">3,928</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--DebtInstrumentAxis__custom--AditxtNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_fKDEp_z6NcAnMLpnWl" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value Amount">1,352</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Totals</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z4r6441SLdIj" style="border-bottom: Black 2.5pt double; text-align: right" title="Principal Amount">156,129</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zdIjqSCYDY46" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued Interest">10,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zOKKxTErHb91" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">166,399</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ConvertibleNotesPayableCurrent_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zrUMQcg1zlU6" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value Amount">21,449</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span id="xdx_F01_z6rQvJVCuwgi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zj5QBWHg0xrg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These liabilities were carried at fair value in the condensed consolidated balance sheets as of the applicable reporting date. As such, the principal and accrued interest was included in the determination of fair value. The related debt issuance costs were expensed.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F06_zVv38lVUnZD6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zyu808wmSWq8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Baker Notes principal amount includes $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEZhaXIgVmFsdWUgb2YgRmluYW5jaWFsIExpYWJpbGl0aWVzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_904_eus-gaap--PaidInKindInterest_pn5n6_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zZ2LM0B6w933" title="Interest paid in kind">39.4</span> million and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEZhaXIgVmFsdWUgb2YgRmluYW5jaWFsIExpYWJpbGl0aWVzIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--PaidInKindInterest_pn5n6_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--BakerNotesMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zgSX8GKPdRb3" title="Interest paid in kind">36.4</span> million of interest paid in-kind as of March 31, 2026 and December 31, 2025, respectively.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F0F_zCZg2KlAeey9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zfwFyvDvoLX" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Adjuvant Notes are recorded in the condensed consolidated balance sheets at their net carrying amount which includes principal and accrued interest.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_F04_zwnYAGy17DH9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_ziN0rl7LC0k3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs.</span></td></tr> </table> 123175000 123175000 15181000 22500000 10884000 33384000 655000 655000 202000 984000 984000 304000 1144000 1144000 354000 736000 736000 228000 1436000 1436000 444000 1003000 1003000 310000 3417000 3417000 1057000 4007000 4007000 843000 159057000 10884000 169941000 18923000 120510000 120510000 15510000 22500000 10270000 32770000 642000 642000 320000 965000 965000 482000 1122000 1122000 560000 722000 722000 360000 1407000 1407000 702000 983000 983000 491000 3350000 3350000 1672000 3928000 3928000 1352000 156129000 10270000 166399000 21449000 39400000 36400000 <p id="xdx_89F_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zJIn3j3Md49h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables summarize the Company’s derivative liabilities as of March 31, 2026 and December 31, 2025 as discussed in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a> (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zkIJbEZWLP14" style="display: none">Schedule of Fair Value of Derivative Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leveling</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; text-align: left; padding-bottom: 1pt">Purchase rights</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zH8levjo7Mii" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Derivative liabilities">1,168</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zR9YY5pNc4yj" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Derivative liabilities">1,006</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 14%; text-align: right; padding-bottom: 1pt">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total derivative liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20260331_za7awjBm1ZKf" style="border-bottom: Black 2.5pt double; text-align: right" title="Derivative liabilities">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_c20251231_z12tXqskFgS3" style="border-bottom: Black 2.5pt double; text-align: right" title="Derivative liabilities">1,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> 1168000 1006000 1168000 1006000 <p id="xdx_89A_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zK3V11P5Cf48" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to Baker Notes, Exchanged SSNs, and Aditxt Notes measured at fair value on a recurring basis for the three months ended March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zmVwFc74qnrj" style="display: none">Schedule of Change in Fair Value of Level 3 Financial Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--DebtInstrumentAxis_custom--BakerNotesAssignedToFuturePakMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zon3erdzh7Ti" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Baker Notes <br/> (Assigned to Future Pak;<br/> <a href="#n_004">Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--DebtInstrumentAxis_custom--TotalOfferingsAndAditxtNotesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zvLYZcDc5LA3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Exchanged SSNs and <br/> Aditxt Notes <br/> <a href="#n_004">(Note 4)</a></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByLiabilityClassAxis_us-gaap--LongTermDebtMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_z4FxtSr0Wwai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zFbsS0krEkRf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,939</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">21,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_iN_pn3n3_di_zhid8m1nQujj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(351</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1397">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(351</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment_pn3n3_ziVMn2maFq9a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statement of comprehensive operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,175</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_zuPO4wF959zj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1404">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1405">-</span></td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1406">-</span></td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_43B_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zLXMJ5nlP2ki" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,181</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,742</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to Baker Notes, Exchanged SSNs, and Aditxt Notes measured at fair value on a recurring basis for the three months ended March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Baker Notes <br/> (Assigned to Future Pak; <a href="#n_004"><br/> Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total SSNs<br/> (<a href="#n_004">Note 4</a>)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_432_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zcHfqNp0xCEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">13,801</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,173</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,974</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment_pn3n3_z8TxCi6CB6Tj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statement of comprehensive operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(679</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(647</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_433_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zFddHFfB6Pcc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,833</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">494</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,327</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to derivative liabilities measured at fair value on a recurring basis for the three months ended March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zlPMovjUdy9j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Purchase Rights</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zyvg40uyOYX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liabilities Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z6m5RqqleoVc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_z9zcwGsqcfol" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_434_c20260101__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_z9IVe8a7TA5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,168</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the changes in Level 3 financial liabilities related to derivative liabilities measured at fair value on a recurring basis for the three months ended March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_z4MFtN9uQEz7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Purchase Rights</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByLiabilityClassAxis_us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_us-gaap--DerivativeInstrumentRiskAxis_us-gaap--RightsMember_zORsEYGpQOLh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative Liabilities Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43A_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zec8NXVV6nMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_439_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z0G7PLGNzvpf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ChangeInFairValueOfFinancialInstruments_pn3n3_zw7Jmr4dR9Md" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value presented in the condensed consolidated statements of operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,221</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_434_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zNuxV5ZXcEr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_437_c20250101__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zfTrqh6MZ7Ck" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">138</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 15510000 5939000 21449000 351000 351000 22000 -2197000 -2175000 15181000 3742000 18923000 13801000 1173000 14974000 32000 -679000 -647000 13833000 494000 14327000 1006000 1006000 162000 162000 1168000 1168000 1359000 1359000 1359000 1359000 -1221000 -1221000 138000 138000 138000 138000 5.0 13.9 0.038 0.139 0.179 1.35 0.90 0.0365 0.75 0.320 P15Y 10000000.0 100000000 0.045 1.49 <p id="xdx_802_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zRJiNikK9ncb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_007"></span>7. <span id="xdx_82B_zHkZ1T3XwFb3">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SOLOSEC Asset Acquisition and Contingent Liabilities</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> The Company reviewed the SOLOSEC acquisition in accordance with ASC 805, <i>Business Combinations</i> (ASC 805), including applying the screen test. In accordance with ASC 805, the Company engaged a third-party valuation specialist to estimate the fair value for the SOLOSEC IP as well as for the total consideration. Per the valuation, the fair value of the SOLOSEC IP exceeded 90% of the total consideration, which indicates that the screen test failed. Further, the Company did not acquire any substantive processes, which indicates that the acquisition is an asset acquisition rather than a business combination. The Company recorded the fair value of the future sales-based payments as contingent liabilities in accordance with ASC 450, <i>Contingencies </i>(ASC 450) and the fair value of the total consideration plus the transaction costs as an intangible asset in accordance with ASC 350, <i>Intangibles</i> (ASC 350).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per the Transition Services Agreement (TSA) entered into in conjunction with the SOLOSEC asset acquisition, the Company expected to purchase finished goods inventory from the seller at a pre-defined price through the earlier of November 2026 or when the Company provides a 10 business days notice of termination. The total expected purchase was approximately $<span id="xdx_90B_ecustom--LongTermPurchaseCommitmentExpectedAmount_pn5n6_c20260101__20260331_z0Zb8hBY5Phf" title="Total commitment amount">3.7</span> million; however, the quantities to be purchased could be negotiated if both parties agree or should the Company provide a 10 business days notice of termination. The Company concluded that the inventory purchase commitment did not meet the definition of a derivative under ASC 815. During the three months ended March 31, 2026 and 2025, there were approximately $<span id="xdx_900_eus-gaap--LongTermPurchaseCommitmentAmount_pn5n6_c20260101__20260331_zM51V7vlkSA5" title="Purchases under commitment">0.5</span> million and $<span id="xdx_90F_eus-gaap--LongTermPurchaseCommitmentAmount_pn5n6_c20250101__20250331_zkyaHflfR16j" title="Purchases under commitment">0.1</span> million in purchases under this commitment, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Company expected to purchase up to approximately $<span id="xdx_90C_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_pn5n6_c20251231_zma7epCKkQd8">2.1</span> million of finished goods during the year ending December 31, 2026 under this commitment. The Company evaluated this purchase commitment to determine whether a loss existed based on the difference between the contractual purchase price and the estimated net realizable value of the inventory expected to be purchased. Based on this assessment, the Company recorded a $<span id="xdx_905_ecustom--LiabilityForLossOnPurchaseCommitment_iI_pn5n6_c20251231_zvenkESNBF8d" title="Liability for loss on purchase commitment">0.3</span> million loss on purchase commitment for the amounts that the Company had submitted for purchase as of the date of filing the 2025 Annual Report, which was included in cost of goods sold in the condensed consolidated statement of operations for the year ended December 31, 2025, with a corresponding liability recorded in the other current liabilities in the condensed consolidated balance sheet as of December 31, 2025. The remaining $<span id="xdx_90B_eus-gaap--PurchaseObligation_iI_pn5n6_c20251231_zXHylYlRsmh4" title="Purchase obligations">1.8</span> million of potential purchases under the TSA did not meet the definition of a firm purchase commitment as the Company had the ability to negotiate the purchase amount or terminate the TSA as discussed above. The Company provided a 10 business days termination notice to the seller on March 13, 2026 effective on March 26, 2026, which released the Company’s purchase commitment for the remainder of 2026 beyond the effective date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The TSA also required the seller to provide transitional support services until the Company fully established SOLOSEC operations; the Company was obligated to pay an immaterial amount quarterly for these services. The Company is also obligated to pay a quarterly royalty, in amounts equal to a certain percentage of the SOLOSEC net revenue from U.S. sales, beginning July 14, 2024. There are <span id="xdx_903_eus-gaap--PaymentsForRoyalties_do_c20260101__20260331_zxfIiTl0qXGf">no</span> minimum quarterly or annual royalty payment amounts. Such royalty costs were immaterial in each of the three months ended March 31, 2026 and 2025. As of March 31, 2026, $<span id="xdx_907_eus-gaap--AssetAcquisitionContingentConsiderationLiabilityCurrent_iI_pn5n6_c20260331_zurUXjhCsJyc" title="Asset acquisition">0.1</span> million and $<span id="xdx_90F_eus-gaap--AssetAcquisitionContingentConsiderationLiabilityNoncurrent_iI_pn5n6_c20260331_zj4jWp2MMr82" title="Asset acquisition">1.1</span> million for the future payments that could become due related to the SOLOSEC acquisition, including sales-based payments, one-time payment, and quarterly royalty payments, was included in contingent liabilities – current and contingent liabilities – noncurrent, respectively, in the condensed consolidated balance sheet. Such amounts were $<span id="xdx_90C_eus-gaap--AssetAcquisitionContingentConsiderationLiabilityCurrent_iI_pn5n6_c20251231_zFzvY9wIUWIi">0.1</span> million and $<span id="xdx_908_eus-gaap--AssetAcquisitionContingentConsiderationLiabilityNoncurrent_iI_pn5n6_c20251231_zLvTnHTF7cP5">4.6</span> million, respectively, as of December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fleet Lease</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2019, the Company and Enterprise FM Trust (the Lessor) entered into a Master Equity Lease Agreement whereby the Company leases vehicles to be delivered by the Lessor from time to time with various monthly costs depending on whether the vehicles are delivered for a term of <span id="xdx_90C_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtM_c20191231__us-gaap--LeaseContractualTermAxis__custom--LeaseContractTermOneMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zTCxi1lPoVc3">24</span> or <span id="xdx_906_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtM_c20191231__us-gaap--LeaseContractualTermAxis__custom--LeaseContractTermMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zABTqHM8ibX1">36</span> months, commencing on each corresponding delivery date. The leased vehicles are for use by eligible employees of the Company’s commercial operations team. As of March 31, 2026, there were a total of <span id="xdx_903_ecustom--NumberOfLeasedVehicles_uInteger_c20260101__20260331_zVUtaHmgQJRc" title="Leased vehicles">19</span> leased vehicles.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined that the leased vehicles are accounted for as operating leases under ASC 842, <i>Leases </i>(ASC 842).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Supplemental financial statement information is disclosed in the tables below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_zWabjgEUFRC2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 24.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zNTIC9tEqP22" style="display: none">Schedule of Lease Cost</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease Cost (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold">Classification</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 28%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zqUahMChRFeg" style="width: 16%; text-align: right" title="Operating lease expense">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zd9kr5VR4Clj" style="width: 16%; text-align: right" title="Operating lease expense">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease expense</td><td> </td> <td style="text-align: left">Selling and marketing</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--SellingAndMarketingExpensesMember_zLj9x5JUceva" style="text-align: right" title="Operating lease expense">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--SellingAndMarketingExpensesMember_z3g4ZhIE2HJ4" style="text-align: right" title="Operating lease expense">40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zuMijOpqOkmg" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease expense">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zz4WDg7ElMrh" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease expense">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331_zA2TKh6g700j" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease expense">40</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331_zFYiadbGEzNd" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease expense">44</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_za3Liub9tyik" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 24.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_ecustom--ScheduleOfLeaseTermAndDiscountRateTableTextBlock_zm2Be1ErVpja" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-indent: 24.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_z38ZCVnYzeY6" style="display: none">Schedule of Lease Term and Discount Rate</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease Term and Discount Rate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted Average Remaining Lease Term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_zw6Cd4Rno4ib" title="Weighted Average Remaining Lease Term (in years)">1.21</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_z116o97cY80i" title="Weighted Average Remaining Lease Term (in years)">1.45</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260331_zxPWQvtavlb5" title="Weighted Average Discount Rate">12</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_z5V1Pbweghog" title="Weighted Average Discount Rate">12</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A3_zdJQ0rFPFrIk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z3SIkvpAMcU4" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zsVh9sVQEDZ8">Schedule of Operating Lease Maturities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Maturity of Operating Lease Liabilities (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_zPM8c5DAs4Tb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLOLLPzIQj_z83T7P8dmwke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Remainder of 2026 (9 months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">98</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzIQj_znZEASCpRTfb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Year ending December 31, 2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzIQj_zdCl3Y01H1Id" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zfxrO1p6AhF3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zOg7loTldF79" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_z1CPfn0s8OKk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zIPbWGynQ7J4" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zFf52BMgUw2d">Schedule of Supplement Cash Outflows in Operating Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Other information (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331_z9eBnh1ejsI2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zyPFqnYpIDMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Other information (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeasePayments_pn3n3_zZxBHM2CBsDj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating cash outflows in operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">32</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">64</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zLnj97ZwxJN9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related Party Transactions</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Windtree</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 20, 2025, Windtree Therapeutics, Inc. (Windtree) and the Company entered into a License and Supply Agreement, as amended on March 28, 2025 (collectively, the Windtree License and Supply Agreement), wherein Windtree agreed to become a manufacturer and supplier of PHEXX. The Company will not have any financial obligations until submitting a binding forecast six months prior to the scheduled manufacturing date. Because Saundra Pelletier, the Company’s CEO, is also on the board of Windtree, the Company evaluated the relationship between the entities and determined that Windtree is a related party of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">On March 13, 2026, the Company and Windtree entered into a Termination Agreement (the Termination Agreement) pursuant to which the parties mutually consented to the termination of the Agreement, effective as of such date. No transactions occurred under the agreement. There is no termination or any other fees payable in connection with the termination of the Agreement. Certain customary provisions of the Agreement that by their terms survive termination remain in effect.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Aditxt Merger, Notes, and Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Because Aditxt could have significant voting power if their Series F-1 Shares and/or Aditxt Notes were converted, the Company evaluated the relationship between the entities and determined that Aditxt is a related party of the Company. The Company also initially considered that Saundra Pelletier, the Company’s Chief Executive Officer, served as a member of Aditxt’s Board of Directors from June 9, 2025 until September 23, 2025. Ms. Pelletier’s term expired on that date and as such this is no longer a factor.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 14, 2024, the Company entered into an Amended and Restated Agreement and Plan of Merger (the A&amp;R Merger Agreement) with Aditxt, Inc. (Aditxt), pursuant to which Aditxt was expected to acquire the Company in an all-stock transaction. The A&amp;R Merger Agreement was amended several times, including the Sixth Amendment to the A&amp;R Merger Agreement, entered into on August 26, 2025 (the Sixth Amendment). The Sixth Amendment was entered into to <span id="xdx_903_ecustom--MergerAgreementDescriptionOfAcquiredEntity_c20250826__20250826_zH0PmYsa9xp8" title="Merger agreement description">(i) amend section 1.5 and 3.1(b)(ii) to update the definition of “Unconverted Company Preferred Stock” to include Series G-1 Shares; (ii) amend section 1.6 to update the definition of “Company Shareholder Approval” to include the outstanding shares of Company Common Stock (including all of the Company’s Preferred Stock, on the basis and to the extent it is permitted to so vote) entitled to vote thereon and each series of the Unconverted Company Preferred Stock; (iii) amend section 6.23 to clarify that the Company will assist in obtaining Exchange Agreements (as defined in the A&amp;R Merger Agreement, as amended) to exchange Company convertible notes and purchase rights for an aggregate of not more than 89,021 shares of Parent Preferred Stock from the applicable Company shareholders; (iv) amend section 7.2(j) to change the number of dissenting shares to no more than 5,932,818 shares of Common Stock or 202 shares of Preferred Stock; (v) add a new section 7.2(k) to require waivers from each holder of the Company’s E-1 Convertible Preferred Stock, with respect to the last sentence of Section 2, the entirety of Section 6, any price adjustment provisions that may be triggered under Section 8(a)(ii), Section 12(c), and Section 12(d) of the Series E-1 Certificate of Designations; and (vi) to replace, in its entirety, the Certificate of Designations for Exchanged Parent Preferred Stock included as Exhibit C to the A&amp;R Merger Agreement.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 20, 2025, the Company terminated the A&amp;R Merger Agreement after the proposed merger was not approved by the Company’s stockholders. No termination fee or other cash consideration was paid by either party, and no further obligations remain under the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in <a href="#n_004">Note 4 – Debt</a>, on April 8, 2025 and June 26, 2025, the Company entered into two securities purchase agreements with Aditxt (the Aditxt April Note and the Aditxt June Note). Under these agreements the Company issued senior subordinated convertible notes in the aggregate original principal amount of $<span id="xdx_905_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_c20250626__20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember_zYFyrwasdBp1" title="Aggregate original principal amount">3.7</span> million and warrants to purchase up to <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember_zdoGybqJGaV6" title="Warrants to purchase">242,257,742</span> shares of the Company’s Common Stock. The notes bear interest at <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember_zPNkMoorj22b" title="Bear interest rate">8</span>%, mature three years from issuance, and were issued at a discount of $<span id="xdx_909_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20250626_zaAGm3CdRetb" title="Issued discount amount">650</span> per $<span id="xdx_90E_ecustom--PrincipleAmount_c20250626__20250626_ztjLCJgaSVD2" title="Principle amount">1,000</span> of principal. Net cash proceeds to the Company were approximately $<span id="xdx_901_eus-gaap--ProceedsFromNotesPayable_pn5n6_c20250626__20250626__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember_z4DuNQ3uZuF2" title="Proceeds from notes payable">2.4</span> million. The warrants have an exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250626_zIZLHQZYrxjf" title="Exercise price">0.0154</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Adjuvant</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because Adjuvant has significant voting power due to its increased beneficial ownership limitation, the Company evaluated the relationship between the entities and determined that Adjuvant is a related party of the Company. Except for the exchange from the Adjuvant Notes to Series G-1 Shares as described in <a href="#n_008">Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</a>, the Adjuvant Third Amendment as described and defined in <a href="#n_004">Note 4 – Debt</a>, and the Adjuvant Fourth Amendment as described and defined in <a href="#n_010">Note 10 – Subsequent events</a>, no other transactions occurred between the two entities in 2025 or through March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contingencies</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time the Company may be involved in various lawsuits, legal proceedings, or claims that arise in the ordinary course of business. As of March 31, 2026, there were no other claims or actions pending against the Company which management believes have a probable, or a reasonably possible, probability of a significant unfavorable outcome other than the TherapeuticsMD, Inc. (TherapeuticsMD) dispute as described below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended March 31, 2025, the Company settled a portion of its trade payables with vendors, which resulted in a $<span id="xdx_907_eus-gaap--AccountsPayableTradeCurrentAndNoncurrent_iI_pn5n6_c20260331_ztKnWfRJtzd5" title="Accounts payable, trade">3.1</span> million reduction in trade payables and a $<span id="xdx_901_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pn5n6_c20260331_z6pB4QdCYoxa" title="Accrued expenses">2.5</span> million reduction in accrued expenses. However, the Company may receive trade payable demand letters from other vendors that could lead to potential litigation. As of March 31, 2026, approximately <span id="xdx_90C_ecustom--AccountsPayableTrade90DaysPastDueOrMorePercent_iI_pid_dp_uPure_c20260331_zqNJJxUJceUj" title="Percentage of accounts payable trade">85</span>% of the Company’s trade payables were greater than 90 days past due.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2020, a trademark dispute captioned TherapeuticsMD, Inc. v Evofem Biosciences, Inc., was filed in the U.S. District Court for the Southern District of Florida against the Company, alleging trademark infringement of certain trademarks owned by TherapeuticsMD under federal and state law (Case No. 9:20-cv-82296). On July 18, 2022, the Company settled the lawsuit with TherapeuticsMD, with certain requirements which were required to be performed by July 2024 (the Settlement Timeline), including changing the name of PHEXXI. The Company failed to meet the terms of the settlement agreement by the Settlement Timeline. As a result, the Company is currently working with TherapeuticsMD on resolution of this issue. In September 2024, the Company filed an application for a new name – PHEXX – which was approved by the FDA in April 2025. In accordance with ASC 450, the Company has accrued the present value of the probable settlement amounts remaining payable over the next several years, which was $<span id="xdx_900_eus-gaap--LossContingencyAccrualAtCarryingValue_iI_pn5n6_c20260331_zj8VhyG1bR8h" title="Contingency liability accrued"><span id="xdx_902_eus-gaap--LossContingencyAccrualAtCarryingValue_iI_pn5n6_c20251231_zbJOyBlsrD9k" title="Contingency liability accrued">0.4</span></span> million as of both March 31, 2026 and December 31, 2025, as a component of contingent liabilities in the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company has received multiple letters from purported Company stockholders demanding that the Company’s board of directors take action on behalf of the Company to remedy allegations regarding the Company’s disclosures to shareholders with respect to various alleged omissions of material information in both its preliminary proxy statement filed September 23, 2024 and definitive proxy statement filed September 8, 2025 relating to the A&amp;R Merger Agreement, as amended, and demands made under Section 220 of the DGCL for books and records related to the transaction and disclosures in the proxy statement. The Company believes all such demands are without merit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">On October 20, 2025, the Company held a Special Meeting of Stockholders. After the Company’s stockholders did not approve the transactions contemplated by the A&amp;R Merger Agreement, the Company delivered a notice of termination to Aditxt notifying it that the Company was exercising its right to terminate the A&amp;R Merger Agreement effective October 20, 2025. The termination was in accordance with (i) Section 8.1(b)(ii), which allows either party to terminate the A&amp;R Merger Agreement if the Merger shall not have been consummated on or before 5:00 p.m. Eastern Time, on September 30, 2025, and (ii) as per Section 8.1(b)(iv), which allows either party to terminate the A&amp;R Merger Agreement if the Company Shareholder Approval shall not have been obtained at a duly held Company Shareholders Meeting at which a vote was taken on the approval of the Agreement and the Transactions, including the Merger.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the termination of the A&amp;R Merger Agreement, all other ancillary agreements related to the A&amp;R Merger Agreement, with the exception of the obligations under the Non-Disclosure Agreement, entered into by and between the Company and Aditxt, as of October 23, 2023, terminated concurrently with the termination of the A&amp;R Merger Agreement. No consideration was paid in connection with the termination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 27, 2024, Future Pak, LLC, as agent for the purchasers (in such capacity, the Future Pak Designated Agent) provided a Notice of Event of Default and Reservation of Rights (the Notice of Default) relating to the Baker Bros. Purchase Agreement, as amended, by and among the Company, Designated Agent, as certain guarantors, and the purchasers. The Notice of Default claims that by entering into arrangements to repay certain existing obligations, including obligations owed to the U.S. Department of Health and Human Services, an Event of Default has occurred under Section 9.1(e) of the Baker Bros. Purchase Agreement. <span id="xdx_905_eus-gaap--DebtDefaultLongtermDebtDescriptionOfNoticeOfDefault_c20240927__20240927__dei--LegalEntityAxis__custom--FuturePakLlcMember_zlBbU7nJu9Ce" title="Description of debt notice of default">According to the Notice of Default, the Future Pak Designated Agent has accelerated repayment of the outstanding principal balance owed by the Company under the Baker Bros. Purchase Agreement. If all purchasers exercise the Section 5.7 Option, the repurchase price would be equal to $106.8 million.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 27, 2024, the Future Pak Designated Agent sent an amended and supplemented notice to the Notice of Default which adds additional claims of default based on the Company’s current repayment agreements of existing obligations, including obligations owed to the U.S. Department of Health and Human Services, an Event of Default has occurred under Section 9.1(e) of the Baker Bros. Purchase Agreement. Furthermore, the Amended Notice stated that, because the events of default described in the Amended Notice of Default are not the certain prior events of default listed in the Forbearance Agreement (the Specified Defaults), the Future Pak Designated Agent and the holders of the senior secured promissory notes described in the Baker Bros. Purchase Agreement thereby provided notice to the Company that the Forbearance Agreement is terminated as of October 27, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 8, 2024, the Future Pak Designated Agent sent an amended and supplemented notice to <span id="xdx_90D_ecustom--DebtDefaultLongtermDebtDescriptionOfNotice_c20241108__20241108_zHpOsZmfmD5b" title="Debt default longterm debt description of notice">the Notices (the Third Amended Notice of Default) which adds new claims of default based on (i) the Company’s failure to maintain a cash position of $1.0 million or greater, as required under Section 5(b) of the Forbearance Agreement (ii) the Company’s failure to deliver financial and operating reports in accordance with the timeline required under the Section 8.1(n) of the Baker Bros. Purchase Agreement, and (iii) to clarify the outstanding balance under the notes of the Baker Bros. Purchase Agreement plus all accrued and unpaid interest thereon, in the sum of approximately $107.0 million as opposed to the Repurchase Price as defined in the Fourth Amendment.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company strongly disagrees with the Future Pak Designated Agent’s claim that any Event of Default has occurred. The Company intends to vigorously contest any attempt by the Future Pak Designated Agent and the purchasers to exercise their default rights and remedies under the Baker Bros. Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intellectual Property Rights</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2014, the Company entered into an amended and restated license agreement (the Rush License Agreement) with Rush University Medical Center (Rush University), pursuant to which Rush University granted the Company an exclusive, worldwide license of a patent and certain know-how related to its vaginal pH modulator technology (US6706276, the Rush Patent). Pursuant to the Rush License Agreement, until the expiration of the Rush Patent, the Company was obligated to pay Rush University an earned royalty during the patent term, calculated as a mid-single digit percentage of PHEXX net sales (the Rush Royalty). In September 2020, the Company entered into the first amendment to the Rush License Agreement, pursuant to which the Company agreed to pay a minimum annual royalty amount of $<span id="xdx_904_eus-gaap--PaymentsForRoyalties_pn5n6_c20210101__20210101__us-gaap--TypeOfArrangementAxis__custom--RushLicenseAgreementMember__srt--RangeAxis__srt--MinimumMember_zNbtGAzDNgCc" title="Royalty payments">0.1</span> million to the extent the earned royalties did not equal or exceed $<span id="xdx_901_eus-gaap--PaymentsForRoyalties_pn5n6_c20210101__20210101__us-gaap--TypeOfArrangementAxis__custom--RushLicenseAgreementMember__srt--RangeAxis__srt--MinimumMember_zCxTHvAq3Aok" title="Royalty payments">0.1</span> million commencing January 1, 2021 until the expiration of the patent, including any granted Patent Term Extensions (PTEs).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Rush Patent would expire on March 6, 2021 (the Original Expiration Date) if no PTE was obtained. Rush University filed an application for PTE in July 2020, which would extend the expiration date of the Rush Patent to March 6, 2026 if granted. Multiple Orders Granting Interim Extension (OGIEs) were received from the U.S. Patent and Trademark Office (USPTO) while the PTE was under evaluation. The last OGIE expired on March 6, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the USPTO had granted multiple OGIEs to Rush University, between the date of the original PTE application (July 2020) and the final OGIE expiration (March 2025), the Company determined it was probable that the PTE extending the expiration to March 6, 2026 would be granted. Therefore, the Company accrued a total of $<span id="xdx_90A_eus-gaap--AccruedLiabilitiesCurrent_iI_pn5n6_c20241231__us-gaap--TypeOfArrangementAxis__custom--RushLicenseAgreementMember_zUEUwDwxRJw6" title="Accrued liabilities">2.8</span> million related to the Rush Royalty as a contingent liability after the Original Expiration Date in accordance with ASC 450, of which $<span id="xdx_909_ecustom--ContingentLiabilities_iI_pn5n6_c20241231_zsiYnsgtEwy" title="Contingent liabilities">0.9</span> million was paid in good faith and $<span id="xdx_90C_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iI_pn5n6_c20241231_zM4Cg29pMb3b" title="Accrued expenses">1.9</span> million was unpaid and was included in accrued expenses in the condensed consolidated balance sheet as of December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2025, the Company’s legal counsel ascertained that no further OGIEs were granted after March 6, 2025 and the PTE had also still not been granted. The Company discontinued accruing the Rush Royalty since, based on the new information, the Company deemed it remote that the PTE would ultimately be granted. Amounts previously accrued under the rush License Agreement were still being assessed at that time and as such, no adjustments were made. <span id="xdx_905_eus-gaap--RoyaltyExpense_do_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--RushLicenseAgreementMember_z7MnmTCP6A8c" title="Royalty expense">No</span> royalty costs were recorded for the three months ended March 31, 2026 or 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore, in August 2025 the FDA confirmed that the relevant active ingredient covered by the Rush Patent had previously been used in other FDA-approved products and, as such, no PTE should be granted. The Company and its legal counsel determined that the Rush Patent expired on the Original Expiration Date and as such it is no longer probable that the Company will be required to pay any expenses related to the Rush Royalty accrued after that date. The Company reversed the outstanding accrued Rush Royalty contingent liability of $<span id="xdx_90F_ecustom--ContingentLiabilities_iI_pn5n6_c20251231_zfHSYNXF6fK8">1.9</span> million during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company determines to pursue a refund of the estimated royalties paid but not earned per its current analysis, it could potentially receive a refund of $<span id="xdx_906_ecustom--RefundAmount_pn5n6_c20260101__20260331_zpBaCNVJyXsl" title="Refund amount">0.9</span> million from Rush University (the amount paid for royalties accrued after the Original Expiration Date). Conversely, if Rush University pursues payment of the amounts accrued but not paid for the time covered by the OGIEs, the maximum liability that the Company could incur is approximately $<span id="xdx_909_ecustom--ContingentLiabilities_iI_pn5n6_c20260331__srt--RangeAxis__srt--MaximumMember_z74KIRTIIt31" title="Contingent liabilities">2.3</span> million. Based on the current analysis, the Company could have an additional gain of up to $<span id="xdx_902_ecustom--AdditionalGain_iI_pn5n6_c20260331__srt--RangeAxis__srt--MaximumMember_zvN878VK3KE2" title="Additional gain">0.9</span> million or a loss of up to $<span id="xdx_900_ecustom--AdditionalLoss_iI_pn5n6_c20260331__srt--RangeAxis__srt--MaximumMember_zEl2t6kdlwnh" title="Additional loss">2.3</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our vaginal pH modulator (PHEXX) remains protected in the U.S. by four <i>Orange Book </i>patents which are solely-owned by Evofem.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other Contractual Commitments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2019, the Company entered into a supply and manufacturing agreement with a third-party to manufacture PHEXX, with potential to manufacture other product candidates, in accordance with all applicable current good manufacturing practice regulations. There were approximately $<span id="xdx_909_eus-gaap--UnrecordedUnconditionalPurchaseObligationPurchases_pn5n6_c20260101__20260331_zflCZHnspG6e" title="Purchases">0.9</span> million and $<span id="xdx_904_eus-gaap--UnrecordedUnconditionalPurchaseObligationPurchases_pn5n6_c20250101__20250331_ziZYJE2RT1oi" title="Purchases">0.8</span> million in purchases under the supply and manufacturing agreement for the three months ended March 31, 2026 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3700000 500000 100000 2100000 300000 1800000 0 100000 1100000 100000 4600000 P24M P36M 19 <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_zWabjgEUFRC2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 24.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zNTIC9tEqP22" style="display: none">Schedule of Lease Cost</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease Cost (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold">Classification</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 28%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zqUahMChRFeg" style="width: 16%; text-align: right" title="Operating lease expense">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zd9kr5VR4Clj" style="width: 16%; text-align: right" title="Operating lease expense">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease expense</td><td> </td> <td style="text-align: left">Selling and marketing</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--SellingAndMarketingExpensesMember_zLj9x5JUceva" style="text-align: right" title="Operating lease expense">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--SellingAndMarketingExpensesMember_z3g4ZhIE2HJ4" style="text-align: right" title="Operating lease expense">40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331__custom--IncomeStatementsLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zuMijOpqOkmg" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease expense">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331__custom--IncomeStatementsLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zz4WDg7ElMrh" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease expense">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseCost_pn3n3_c20260101__20260331_zA2TKh6g700j" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease expense">40</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--OperatingLeaseCost_pn3n3_c20250101__20250331_zFYiadbGEzNd" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease expense">44</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1000 1000 37000 40000 2000 3000 40000 44000 <p id="xdx_890_ecustom--ScheduleOfLeaseTermAndDiscountRateTableTextBlock_zm2Be1ErVpja" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-indent: 24.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_z38ZCVnYzeY6" style="display: none">Schedule of Lease Term and Discount Rate</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Lease Term and Discount Rate</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted Average Remaining Lease Term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_zw6Cd4Rno4ib" title="Weighted Average Remaining Lease Term (in years)">1.21</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_z116o97cY80i" title="Weighted Average Remaining Lease Term (in years)">1.45</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260331_zxPWQvtavlb5" title="Weighted Average Discount Rate">12</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_z5V1Pbweghog" title="Weighted Average Discount Rate">12</span></td><td style="text-align: left">%</td></tr> </table> P1Y2M15D P1Y5M12D 0.12 0.12 <p id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z3SIkvpAMcU4" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zsVh9sVQEDZ8">Schedule of Operating Lease Maturities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Maturity of Operating Lease Liabilities (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_zPM8c5DAs4Tb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLOLLPzIQj_z83T7P8dmwke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Remainder of 2026 (9 months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">98</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzIQj_znZEASCpRTfb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Year ending December 31, 2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzIQj_zdCl3Y01H1Id" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zfxrO1p6AhF3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zOg7loTldF79" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 98000 60000 158000 8000 150000 <p id="xdx_896_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zIPbWGynQ7J4" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zFf52BMgUw2d">Schedule of Supplement Cash Outflows in Operating Leases</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Other information (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331_z9eBnh1ejsI2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zyPFqnYpIDMe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Other information (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeasePayments_pn3n3_zZxBHM2CBsDj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating cash outflows in operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">32</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">64</td><td style="width: 1%; text-align: left"> </td></tr> </table> 32000 64000 (i) amend section 1.5 and 3.1(b)(ii) to update the definition of “Unconverted Company Preferred Stock” to include Series G-1 Shares; (ii) amend section 1.6 to update the definition of “Company Shareholder Approval” to include the outstanding shares of Company Common Stock (including all of the Company’s Preferred Stock, on the basis and to the extent it is permitted to so vote) entitled to vote thereon and each series of the Unconverted Company Preferred Stock; (iii) amend section 6.23 to clarify that the Company will assist in obtaining Exchange Agreements (as defined in the A&R Merger Agreement, as amended) to exchange Company convertible notes and purchase rights for an aggregate of not more than 89,021 shares of Parent Preferred Stock from the applicable Company shareholders; (iv) amend section 7.2(j) to change the number of dissenting shares to no more than 5,932,818 shares of Common Stock or 202 shares of Preferred Stock; (v) add a new section 7.2(k) to require waivers from each holder of the Company’s E-1 Convertible Preferred Stock, with respect to the last sentence of Section 2, the entirety of Section 6, any price adjustment provisions that may be triggered under Section 8(a)(ii), Section 12(c), and Section 12(d) of the Series E-1 Certificate of Designations; and (vi) to replace, in its entirety, the Certificate of Designations for Exchanged Parent Preferred Stock included as Exhibit C to the A&R Merger Agreement. 3700000 242257742 0.08 650 1000 2400000 0.0154 3100000 2500000 0.85 400000 400000 According to the Notice of Default, the Future Pak Designated Agent has accelerated repayment of the outstanding principal balance owed by the Company under the Baker Bros. Purchase Agreement. If all purchasers exercise the Section 5.7 Option, the repurchase price would be equal to $106.8 million. the Notices (the Third Amended Notice of Default) which adds new claims of default based on (i) the Company’s failure to maintain a cash position of $1.0 million or greater, as required under Section 5(b) of the Forbearance Agreement (ii) the Company’s failure to deliver financial and operating reports in accordance with the timeline required under the Section 8.1(n) of the Baker Bros. Purchase Agreement, and (iii) to clarify the outstanding balance under the notes of the Baker Bros. Purchase Agreement plus all accrued and unpaid interest thereon, in the sum of approximately $107.0 million as opposed to the Repurchase Price as defined in the Fourth Amendment. 100000 100000 2800000 900000 1900000 0 1900000 900000 2300000 900000 2300000 900000 800000 <p id="xdx_803_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zLXgePj8E4Je" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_008"></span>8. <span id="xdx_828_zz3plYAsknaa">Convertible and Redeemable Preferred Stock and Stockholders’ Deficit</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April and June 2020, pursuant to the Baker Bros. Purchase Agreement, as discussed in <a href="#n_004">Note 4 – Debt</a>, the Company issued warrants to purchase up to <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20200630__us-gaap--TypeOfArrangementAxis__custom--BakerBrosPurchaseAgreementMember_z0DrRIoCsmKk" title="Number of shares to purchase capital stock">2,731</span> shares of Common Stock in a private placement at an exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20200630__us-gaap--TypeOfArrangementAxis__custom--BakerBrosPurchaseAgreementMember_zOcIPTeODr4d" title=" Price per share">4,575</span> per share. The Second Baker Amendment provides that the exercise price of the Baker Warrants will equal the conversion price of the Baker Notes. The exercise price of the Baker warrants was $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--BakerWarrantsMember_zZOrKhqeBMS6" title="Price per share">0.0154</span> per share as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2022, the Company completed an underwritten public offering (the May 2022 Public Offering) which included the issuance of common warrants to purchase <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20220531__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_znWPfm9oIOic" title="Warrants to purchase">362,640</span> shares of Common Stock at a price to the public of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220531__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zwTvvgUEEkC1" title="Exercise price">93.75</span> and the issuance of common warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20220531__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zqLAj16UFXtc" title="Warrants to purchase">205,360</span> shares of Common Stock at a price to the public of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220531__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zaMn0prbJT29" title="Exercise price">93.63</span> (the May 2022 Common Stock Warrants). The May 2022 Common Stock Warrants were exercisable beginning on May 24, 2022 and have a <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20220531__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zgbmBkdXdNJi" style="display: none" title="Warrants term">5</span>five-year term. Due to features in the May 2022 Common Stock Warrants, including dilution adjustments requiring strike price resets, additional warrants have been periodically issued as required in the warrant agreements. As of March 31, 2026 there were <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260330__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zIs6mqvB4DG8" title="Common stock warrant outstanding">894,194</span> May 2022 Common Stock Warrants outstanding with an exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFtOOZfWfuM" title="Exercise price">0.0154</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2022, as required by the Second Baker Amendment, the Company issued the June 2022 Baker Warrants to purchase up to <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20220630__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zEB0rgk1Opbg" title="Warrants to purchase">582,886</span> shares of the Company’s Common Stock. The June 2022 Baker Warrants have an exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220630__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zkeFj7QJPlb4" title="Exercise price">93.75</span> per share and a <span style="display: none"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20220630__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zNGShDgWb9Jb" title="Warrants term">5</span></span>five-year term and were exercisable beginning June 28, 2022. The June 2022 Baker Warrants also contain customary <span id="xdx_907_ecustom--DebtInstrumentConvertibleBeneficialOwnershipLimitation_pid_dp_uPure_c20220601__20220630__srt--RangeAxis__srt--MinimumMember__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zd2xpPgcrbqf" title="Beneficial ownership limitation percentage">4.99</span>% and <span id="xdx_90B_ecustom--DebtInstrumentConvertibleBeneficialOwnershipLimitation_pid_dp_uPure_c20220601__20220630__srt--RangeAxis__srt--MaximumMember__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zhflaCrSBnb9" title="Beneficial ownership limitation percentage">19.99</span>% limitations on exercise provisions. The exercise price and number of shares issuable upon exercise of the June 2022 Baker Warrants is subject to adjustment for certain dilutive issuances, stock splits and similar recapitalization transactions. The exercise price of these warrants was $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--ClassOfWarrantOrRightAxis__custom--June2022BakerWarrantsMember_zU8Xks2t4669" title="Price per share">0.0154</span> per share as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February, March, April, July, August, and September 2023, pursuant to the Exchanged SSNs as discussed in <a href="#n_004">Note 4 – Debt</a>, the Company issued warrants to purchase up to <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_zgwxjhCjk91h" title="Number of shares to purchase capital stock">1,152,122</span> shares of the Company’s Common Stock at an exercise price of $<span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_zxX3Kw893bC2" title="Exercise price">2.50</span> per share, up to <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember_zTexXTmICJ4g" title="Warrants exercised">2,615,383</span> shares of the Company’s Common Stock at an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember_z1mmOsVX3ozk" title="Price per share">1.25</span> per share, and up to <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantThreeMember_z9pbsp1PFZ1b" title="Class of warrant or right, number of securities called by warrants or rights">22,189,349</span> shares of the Company’s Common Stock at an exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantThreeMember_zOGOLmJmaTk7" title="Price per share">0.13</span> per share. The exercise price of these warrants was $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorSubordinatedNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdiRnzhsw3r4" title="Exercise price per share">0.0154</span> per share as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, warrants to purchase up to <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260331_zIrHuYs5t2Nk" title="Warrants to purchase common stock">263,062,097</span> shares of the Company’s Common Stock remain outstanding at a weighted average exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331_zwf8wYMBTTM9" title="Warrants exercise price per share">0.18</span> per share. In accordance with ASC 815<i>, </i>the warrants are classified as equity instruments as of both March 31, 2026 and December 31, 2025. During the first quarter of 2024, the Company obtained waivers from a majority of the convertible instrument holders, removing the requirement for shares to be reserved for conversion of their instruments, which will prevent the instruments from needing to be liability classified due to an insufficient number of authorized shares going forward. The Company will continue to re-evaluate the classification of its warrants at the close of each reporting period to determine the proper balance sheet classification for them. These warrants are summarized below:</span></p> <p id="xdx_89B_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zpCoAXmD3sVi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zFjgZST3pCo7" style="display: none">Schedule of Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Type of Warrants</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Underlying Common Stock<br/> to be Purchased</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issue Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Period</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 24%; text-align: left">Common Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zVwaC80DhnB3" style="width: 14%; text-align: right" title="Class of warrant or right outstanding">888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zaaHC6ByagLl" style="width: 12%; text-align: right" title="Exercise price">11,962.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center">April 11, 2019</td><td style="width: 2%"> </td> <td style="width: 20%"><span id="xdx_904_ecustom--WarrantsExercisePeriodDescription_c20190411__20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zUXDIAYeZMch" title="Warrants exercise period">October 11, 2019 to April 11, 2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zti0oyD7tVQ" style="text-align: right" title="Class of warrant or right outstanding">1,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zQZcaooWfa58" style="text-align: right" title="Exercise price">11,962.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 10, 2019</td><td> </td> <td><span id="xdx_906_ecustom--WarrantsExercisePeriodDescription_c20190610__20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zQOXDXmH0Tub" title="Warrants exercise period">December 10, 2019 to June 10, 2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zYVflijKOYH2" style="text-align: right" title="Class of warrant or right outstanding">8,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zTPQ7A116rbg" style="text-align: right" title="Exercise price">735.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">January 13, 2022</td><td> </td> <td><span id="xdx_907_ecustom--WarrantsExercisePeriodDescription_c20220113__20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z7I73RAKUiN3" title="Warrants exercise period">March 1, 2022 to March 1, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zRQZCjwo7s62" style="text-align: right" title="Class of warrant or right outstanding">8,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zWjb0dYnYHva" style="text-align: right" title="Exercise price">897.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">March 1, 2022</td><td> </td> <td><span id="xdx_903_ecustom--WarrantsExercisePeriodDescription_c20220301__20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zeSsFn5g5kxa" title="Warrants exercise period">March 1, 2022 to March 1, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zxAQFLvptUK2" style="text-align: right" title="Class of warrant or right outstanding">6,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zzecC9NbAxI6" style="text-align: right" title="Exercise price">309.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">May 4, 2022</td><td> </td> <td><span id="xdx_90F_ecustom--WarrantsExercisePeriodDescription_c20220504__20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zisuFowK6Qjg" title="Warrants exercise period">May 4, 2022 to May 4, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zlFuDgAEimYg" style="text-align: right" title="Class of warrant or right outstanding">894,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zerWA8LfXa12" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">May 24, 2022</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20220524__20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zO2WeBq9t94c" title="Warrants exercise period">May 24, 2022 to May 24, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zXrudTgHg6R6" style="text-align: right" title="Class of warrant or right outstanding">582,886</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPOlxS2Bq1sc" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 28, 2022</td><td> </td> <td><span id="xdx_90E_ecustom--WarrantsExercisePeriodDescription_c20220628__20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z54BAf7f629i" title="Warrants exercise period">May 24, 2022 to June 28, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPmZdyaF8Qw4" style="text-align: right" title="Class of warrant or right outstanding">49,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z4Cxa98NHpq9" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">December 21, 2022</td><td> </td> <td><span id="xdx_90F_ecustom--WarrantsExercisePeriodDescription_c20221221__20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z2nXNuvqZUa4" title="Warrants exercise period">December 21, 2022 to December 21, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zZHoacwSPbVj" style="text-align: right" title="Class of warrant or right outstanding">130,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zK5P9ZnEKkei" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">February 17, 2023</td><td> </td> <td><span id="xdx_907_ecustom--WarrantsExercisePeriodDescription_c20230217__20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zyx1tVJV8781" title="Warrants exercise period">February 17, 2023 to February 17, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zsl4Qf44JZDg" style="text-align: right" title="Class of warrant or right outstanding">258,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z3rQ0e4ftTh5" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">March 20, 2023</td><td> </td> <td><span id="xdx_903_ecustom--WarrantsExercisePeriodDescription_c20230320__20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zzHhIBg3tH5f" title="Warrants exercise period">March 20, 2023 to March 20, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcU3qFb2Lqll" style="text-align: right" title="Class of warrant or right outstanding">369,231</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zFQaXYlz0bt5" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">April 5, 2023</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20230405__20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zO14m87sgtY9" title="Warrants exercise period">April 5, 2023 to April 5, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zEISA2kCi0I" style="text-align: right" title="Class of warrant or right outstanding">349,463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zImxyLOo2u91" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">July 3, 2023</td><td> </td> <td><span id="xdx_906_ecustom--WarrantsExercisePeriodDescription_c20230702__20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zwWJMyQnyugb" title="Warrants exercise period">July 3, 2023 to July 3, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z5mSHOEIzd8l" style="text-align: right" title="Class of warrant or right outstanding">615,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zypA6bfbmvqf" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">August 4, 2023</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20230803__20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zR3ti0Z9UOti" title="Warrants exercise period">August 4, 2023 to August 4, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zi82ZIlBMm3f" style="text-align: right" title="Class of warrant or right outstanding">12,721,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_znyBLWNtsAS3" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">September 27, 2023</td><td> </td> <td><span id="xdx_908_ecustom--WarrantsExercisePeriodDescription_c20230926__20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcPAIjbosx7" title="Warrants exercise period">September 27, 2023 to September 27, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zt1mERp39Mvc" style="text-align: right" title="Class of warrant or right outstanding">149,850,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPeaJapoALf" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">April 8, 2025</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20250408__20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zuS1t6JF9Bgj" title="Warrants exercise period">April 8, 2025 to April 8, 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zKseOxI2FoBh" style="text-align: right" title="Class of warrant or right outstanding">92,407,592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zwlJGQ59HDk9" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 26, 2025</td><td> </td> <td><span id="xdx_90B_ecustom--WarrantsExercisePeriodDescription_c20250626__20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcTJ6PvuEUc6" title="Warrants exercise period">June 26, 2025 to June 26, 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded Common Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_z9sJmOxNmMU4" style="border-bottom: Black 1pt solid; text-align: right" title="Class of warrant or right outstanding">4,807,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_ztXzvMQrhP7b" style="padding-bottom: 1pt; text-align: right" title="Exercise price">0.0010</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">September 27, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"><span id="xdx_90B_ecustom--WarrantsExercisePeriodDescription_c20230926__20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_zF1FwMAbFyT9" title="Warrants exercise period">September 27, 2023 to September 27, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20251231_zkTmrrFJGes6" style="border-bottom: Black 2.5pt double; text-align: right" title="Underlying common stock to be purchased">263,062,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_8AF_zU3pAfz2tZIg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Preferred Stock</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective December 15, 2021, the Company amended and restated its certificate of incorporation, under which the Company is currently authorized to issue up to <span id="xdx_909_eus-gaap--PreferredStockSharesAuthorized_iI_c20211215_z0k5xpqM2Iwg" title="Preferred stock, shares authorized">5,000,000</span> shares of preferred stock. The certificate of incorporation was further amended several times, most recently on August 22, 2025 in order to authorize various series of convertible and redeemable preferred stock; authorized series currently include convertible and redeemable preferred stock designated for Series B-1 and B-2, Series C, Series E-1, Series F-1, Series G-1, and nonconvertible and redeemable preferred stock (Series D), par value $<span id="xdx_90E_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211215_z1eQU5g9wxY1" title="Preferred stock, par value">0.0001</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible and Redeemable Preferred Stock</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 7, 2023, the Company filed a Certificate of Designation of Series E-1 Convertible Preferred Stock (E-1 Certificate of Designation), par value $<span id="xdx_904_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zP9GSBf0kkdl" title="Preferred stock, par value">0.0001</span> per share (the Series E-1 Shares). On June 30, 2025, the holders of a majority of issued and outstanding shares of the Series E-1 Shares approved by written consent in lieu of a meeting the Amended and Restated Certificate of Designations of Series E-1 Convertible Preferred Stock (the A&amp;R E-1 Certificate of Designations). The Company’s Board of Directors also approved the A&amp;R E-1 Certificate of Designations on June 30, 2025. The A&amp;R E-1 Certificate of Designations increases the number of total authorized shares from <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_c20230806__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zIHNjItKjUga" title="Shares authorized">2,300</span> to <span id="xdx_901_eus-gaap--PreferredStockSharesAuthorized_iI_c20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zQLi5Wv573Xb" title="Shares authorized">10,000</span> in order to authorize a sufficient number of shares for the payment of dividends in kind in the form of additional shares of Series E-1 Shares and update certain definitions. The A&amp;R E-1 Certificate of Designations became effective on September 30, 2025. The Series E-1 Shares are convertible into shares of Common Stock at a conversion price of $<span id="xdx_904_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zpmdQ4SrxKqh" title="Conversion price">0.40</span> per share, as adjusted, and are both counted toward quorum on the basis of and have voting rights equal to the number of shares of Common Stock into which the Series E-1 Shares are then convertible. The Series E-1 Shares are senior to all Common Stock with respect to preferences as to dividends, distributions, and payments upon a dissolution event. In the event of a liquidation event, the Series E-1 Shares are entitled to receive an amount per share equal to the Black Scholes Value as of the liquidation event plus the greater of <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentRate_pid_dp_uPure_c20230807__20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zexEqGzJlYo4" title="Percentage of conversion amount.">125</span>% of the conversion amount (as defined in the Certificate of Designation) and the amount the holder of the Series E-1 Shares would receive if the shares were converted into Common Stock immediately prior to the liquidation event. If the funds available for liquidation are insufficient to pay the full amount due to the holders of the Series E-1 Shares, each holder will receive a percentage payout. <span id="xdx_903_eus-gaap--PreferredStockDividendPaymentTerms_pid_c20230807__20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zmbs7KSbviEa" title="Dividend rate description">The Series E-1 Shares were entitled to dividends at a rate of 10% per annum (which increased as per the provision below as of April 1, 2025) or 12% upon a triggering event. On the 18-month anniversary of the initial issuance date for the Series E-1 convertible preferred stock, the dividend rate increased by 30% and will increase another 30% on the first day of each subsequent quarter until no E-1 Shares remain outstanding.</span> Dividends are payable in shares of Common Stock and may, at the Company’s election, be capitalized and added to the outstanding balance of Series E-1 Shares monthly. The Series E-1 Shares also have a provision that allows them to be converted to Common Stock at a conversion rate equal to the Alternate Conversion Price (as defined in the Certificate of Designation) times the number of shares subject to conversion times the <span id="xdx_902_ecustom--PreferredStockRedemptionPremiumPercentage_iI_pid_dp_uPure_c20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zqmq94BCML6" title="Redemption premium percentage">25</span>% redemption premium in the event of a Triggering Event (as defined in the Certificate of Designation) such as in a liquidation event. The Series E-1 Shares are mandatorily redeemable in the event of bankruptcy. Series E-1 Shares rank higher than all shares of the Company’s Common Stock and Series F-1 Shares (defined below) with respect to the preferences as to dividends and any distributions and payments upon the liquidation, dissolution, and winding up of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 7, 2023, certain investors party to the Exchanged SSNs exchanged $<span id="xdx_906_eus-gaap--DebtConversionOriginalDebtAmount1_pn5n6_c20230807__20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zucwpOuJzPO4">1.8</span> million total in principal and accrued interest under the outstanding convertible promissory notes for <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20230807__20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zzypkmfYl7Gh">1,800</span> shares of Series E-1 Shares (the August 2023 Preferred Stock Transaction). Per the Series E-1 Convertible Preferred Stock Certificate of Designation, the conversion rate can also be adjusted in several future circumstances, such as on certain dates after the exchange date and upon the issuance of additional convertible securities with a lower conversion rate or in the instance of a Triggering Event. As such, the conversion price has been adjusted several times and was $<span id="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zj8Fci5fuQ8i">0.0154</span> as of March 31, 2026. The Series E-1 Shares are classified as mezzanine equity within the condensed consolidated balance sheets in accordance with ASC 480 because of a fixed <span id="xdx_904_ecustom--PreferredStockRedemptionPremiumPercentage_iI_pid_dp_uPure_c20230807__us-gaap--StatementClassOfStockAxis__custom--SeriesE1ConvertiblePreferredStockMember_zTC3UvV8rNp6">25</span>% redemption premium upon a Triggering Event and no mandatory redemption feature. During each of the three months ended March 31, 2026 and 2025, an immaterial deemed dividend was recorded as an increase to the Series E-1 Shares outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 11, 2023, the Company filed a Certificate of Designation of Series F-1 Convertible Preferred Stock (F-1 Certificate of Designation), par value $<span id="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20231211__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zaYcGkeWtVw4" title="Preferred stock, par value">0.0001</span> per share (the Series F-1 Shares). An aggregate of <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20231211__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zFmzdZjPVJ6d" title="Preferred stock, shares authorized">95,000</span> shares was authorized. The Series F-1 Shares are convertible into shares of Common Stock at a conversion price of $<span id="xdx_907_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20231211__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_ziVgWGeSwMXh" title="Conversion price">0.0635</span> per share, as adjusted and do not have the right to vote on any matters presented to the holders of the Company’s Common Stock. The Series F-1 Shares are senior to all Common Stock and subordinate to the Series E-1 Shares and Series G-1 Shares with respect to preferences as to distributions and payments upon a dissolution event. In the event of a liquidation event, the Series F-1 Shares are entitled to receive an amount per share equal to the Black Scholes Value as of the liquidation event plus the greater of 125% of the conversion amount (as defined in the F-1 Certificate of Designation) and the amount the holder of the Series F-1 Shares would receive if the shares were converted into Common Stock immediately prior to the liquidation event. If the funds available for liquidation are insufficient to pay the full amount due to the holders of the Series F-1 Shares, each holder will receive a percentage payout. The Series F-1 Shares are not entitled to dividends. The Series F-1 Shares also have a provision that allows them to be converted to Common Stock at a conversion rate equal to the Alternate Conversion Price (as defined in the F-1 Certificate of Designation) times the number of shares subject to conversion times the <span id="xdx_90A_ecustom--PreferredStockRedemptionPremiumPercentage_iI_pid_dp_uPure_c20231211__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zlLVmOoo7kz4" title="Redemption premium percentage">25</span>% redemption premium in the event of a Triggering Event (as defined in the F-1 Certificate of Designation) such as in a liquidation event. The Series F-1 Shares are mandatorily redeemable in the event of bankruptcy. In June 2024, the Required Holders, as defined in the F-1 Certificate of Designation, approved an amended and restated certificate of designation (the Amended F-1 Certificate of Designation) to the Company’s certificate of designation designating the rights, preferences, and limitations of the Company’s Series F-1 Shares. Series F-1 Shares rank higher than all shares of the Company’s Common Stock with respect to the preferences as to dividends and any distributions and payments upon the liquidation, dissolution, and winding up of the Company. The Amended F-1 Certificate of Designation provides for the removal of the conversion price adjustment provisions previously included and changed the conversion price to $<span id="xdx_90E_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20240630__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zzNPLqFDfL6b" title="Share conversion price">0.0154</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 21, 2023, the Company issued a total of <span id="xdx_905_eus-gaap--PreferredStockSharesIssued_iI_pid_c20231221__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zyNhGMTcG7El" title="Shares issued">22,280</span> Series F-1 Shares to certain investors pursuant to an exchange transaction, <span id="xdx_909_eus-gaap--ConversionOfStockSharesIssued1_pid_c20231221__20231221__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_ziDNe4rR0RVj" title="Shares issued upon conversion">613</span> of the Series F-1 Shares were issued in exchange for warrants to purchase up to <span id="xdx_90C_eus-gaap--ConversionOfStockSharesConverted1_pid_c20231221__20231221__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zcrBuLY0Mppd" title="Warrants converted">9,972,074</span> shares of the Company’s Common Stock and <span id="xdx_900_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_pid_c20231221__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_z0DkX6q3FNK6" title="Shares issued for purchase rights">21,667</span> Series F-1 Shares to exchange a partial value of the outstanding purchase rights. Immediately subsequent to the exchange transaction, the holders of the Series F-1 Shares exchanged their Series F-1 Shares for Aditxt’s Series A-1 preferred stock, and as a result, Aditxt currently holds the Company’s Series F-1 Shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the second half of 2024, as part of the funding requirement by Aditxt pursuant to the A&amp;R Merger Agreement, the Company issued a total of <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240701__20241231__us-gaap--TypeOfArrangementAxis__custom--AandRmergerAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zGTUx0Lbwmr8" title="Number of shares issued">4,000</span> Series F-1 Shares to Aditxt for an aggregate purchase price of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240701__20241231__us-gaap--TypeOfArrangementAxis__custom--AandRmergerAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zmvCTsKzjMX" title="Share purchase price">4.0</span> million. Additionally, Aditxt also paid the Company $<span id="xdx_905_eus-gaap--ProceedsFromDivestitureOfBusinesses_pn5n6_c20240501__20240531__us-gaap--TypeOfArrangementAxis__custom--AandRmergerAgreementMember_zqnM9HEUy0S8" title="Proceeds from merger">1.0</span> million in May 2024 in conjunction with signing the Reinstatement and Fourth Amendment to the Merger Agreement. The <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240701__20241231__us-gaap--TypeOfArrangementAxis__custom--AandRmergerAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zqT43f7MljR9" title="Number of shares issued">4,000</span> Series F-1 Shares were recorded at fair value with the variance between the immaterial fair value and the total $<span id="xdx_906_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_pn5n6_c20240701__20241231__us-gaap--TypeOfArrangementAxis__custom--AandRmergerAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zKBwjjcvbVz6" title="Cash received recorded as additional paid-in-capital">5.0</span> million cash received being recorded as additional paid-in-capital in the condensed consolidated balance sheet. As discussed in <a href="#n_007">Note 7 – Commitments and Contingencies</a>, Aditxt currently holds all outstanding Series F-1 Shares. Accordingly, transactions related to the Series F-1 Preferred Stock are considered related-party transactions under ASC 850.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 22, 2025, the Company filed a Certificate of Designations creating the Series G-1 Preferred Stock (G-1 Certificate of Designations) (the Series G-1 Shares). The Company’s Board of Directors approved the G-1 Certificate of Designations on August 22, 2025 and the G-1 Certificate of Designations became effective upon filing with the State of Delaware on the same day. Subsequently on August 22, 2025, the Company entered into Exchange Agreements with certain investors (the G-1 Investors) providing for the exchange of certain Exchanged SSNs and a portion of the Adjuvant Notes due in the aggregate original principal and accrued interest amount of approximately $<span id="xdx_905_eus-gaap--DebtConversionOriginalDebtAmount1_pn5n6_c20250822__20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zynHxMFaQdFj">1.6</span> million into an aggregate <span id="xdx_906_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250822__20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zn5h4TQCuIz5">1,573</span> shares of Series G-1 Shares (collectively, the G-1 Offering). The Series G-1 Shares entitles the holder thereof to vote together with the common shareholders as a single class and to cast that number of votes per share as is equal to the number of shares of Common Stock into which it is then convertible. Each of the Series G-1 Shares has a stated value of $<span id="xdx_900_eus-gaap--SharePrice_iI_pid_c20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_ztregLICOny3">1,000</span> per share and is convertible into shares of Common Stock at a rate determined by dividing (i) the stated value of such Series G-1 Shares plus any declared and unpaid dividends on such shares by (ii) the conversion price of $<span id="xdx_906_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_z0sOsxDyWiu1">0.0154</span> per share, subject to adjustment as provided in the Certificate of Designations. The Certificate of Designations also provides that in the event of certain Triggering Events (as defined below), any holder may, at any time, convert any or all of such holder’s Series G-1 Shares at a conversion rate equal to the product of (i) the Alternate Conversion Price (as defined below) and (ii) the quotient of (x) the <span id="xdx_909_ecustom--PreferredStockRedemptionPremiumPercentage_iI_pid_dp_uPure_c20250822_zzVpxE4NgbWh">25</span>% redemption premium multiplied by (y) the amount of Series G-1 Shares subject to such conversion. Triggering Events include, among others, (i) a failure to timely deliver shares of Common Stock, upon a conversion, (ii) a suspension of trading or the failure to be traded or listed on an eligible market for five consecutive days or more, (iii) the failure to pay any dividend to the holders of Series G-1 Shares when required, (iv) the failure to remove restrictive legends when required, (v) proceedings for a bankruptcy, insolvency, reorganization or liquidation, which are not dismissed with 30 days, (vi) commencement of a voluntary bankruptcy proceeding, and (vii) final judgments against the Company for the payment of money in excess of $<span id="xdx_90F_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20250822__20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zlXPhBkQlBT1">0.1</span> million. Alternate Conversion Price means the lowest of <span id="xdx_904_ecustom--VolumeWeightedAveragePriceDescription_pid_c20250822__20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zIK9RhRSEaWg" title="Volume weighted average price description">(i) the applicable conversion price then in effect, (ii) 80% of the VWAP of the Common Stock on the trading day immediately preceding the delivery of the applicable conversion notice, (iii) 80% of the VWAP of the Common Stock on the trading day of the delivery of the applicable conversion notice and (iv) 80% of the price computed as the quotient of (I) the sum of the VWAP of the Common Stock for each of the three (3) trading days with the lowest VWAP of the Common Stock during the fifteen (15) consecutive trading day period ending and including the trading day immediately preceding the delivery of the applicable conversion notice, divided by (II) three (3).</span> Each holder of Series G-1 Shares is entitled to receive dividends at a rate of <span id="xdx_909_ecustom--DividendsCommonStockPaidinkindPercentage_pid_dp_uPure_c20250822__20250822__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_z2bM2a0zzxI" title="Dividends common stock paid-in-kind, percentage">8</span>% per annum, paid in the form of Common Stock or paid-in-kind as additional shares of Series G-1 Shares, at the Company’s discretion (the Series G-1 Dividends) payable to the holders of the Series G-1 Shares on a monthly basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the Series G-1 Shares issued was determined by estimating the fair value of the MVIC of the Company on a going-concern basis. This was estimated using a form of the market approach where comparable market revenue multiples were selected and applied to the Company’s forward revenue forecast to ultimately derive a MVIC indication. An OPM was then applied to value the Series G-1 Shares by allocating the estimated MVIC through the Company’s capital structure including the more senior notes payoff in a hypothetical exit event. Under the OPM, each debt or equity class is modeled as a call option with a distinct claim on the total value of the Company. The option’s exercise price is based on the Company’s total value available for each participating security holder. By constructing a series of options in which the exercise price is set at incremental levels of value, which correspond to the value necessary for each level of equity to participate, we determined the incremental option value of each series. When multiplied by the percentage of ownership of each equity class participating, the result is the incremental value allocated to each class under that series.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 5, 2026, the Company issued a total of <span id="xdx_900_eus-gaap--ConversionOfStockSharesIssued1_pid_c20260305__20260305__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zw6ze1C6lQPa" title="Common Stock shares">5,844,156</span> shares of the Company’s Common Stock upon conversion of <span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_pid_c20260305__20260305__us-gaap--StatementClassOfStockAxis__custom--SeriesG1ConvertiblePreferredStockMember_zjH6QtkIts03" title="Common Stock upon conversion shares">90</span> Series G-1 Shares pursuant to the provisions in the G-1 Certificate of Designations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective September 14, 2023, the Company further amended its amended and restated certificate of incorporation to increase the number of authorized shares of Common Stock to <span id="xdx_904_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20230914_zZrIAOQBBCE2" title="Common stock, shares authorized">3,000,000,000</span> shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Purchase Rights</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 15, 2022, the Company entered into certain exchange agreements with the Adjuvant Purchasers and purchasers of certain other notes to exchange, upon request, the Purchase Rights for an aggregate of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_c20220915__20220915__us-gaap--DebtInstrumentAxis__custom--AdjuvantAndMay2022NotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5pzWsrscd6j" title="Shares issued for purchase rights">942,080</span> shares of the Company’s Common Stock. The number of right shares for each Purchase Right is initially fixed at issuance, but subject to certain customary adjustments for certain dilutive Company equity issuances until the second anniversary of issuance. These Purchase Rights expire on June 28, 2027. Refer to <a href="#n_006">Note 6 – Fair Value of Financial Instruments</a> for the accounting treatment of the Purchase Rights. In 2023, the Company subsequently signed an additional agreement with the holders of the Purchase Rights upon which the total aggregate value of the Purchase Rights is fixed at $<span id="xdx_900_ecustom--PurchaseRights_pn5n6_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--AdjuvantAndMay2022NotesMember_z4pfXwzeE8Pl" title="Purchase rights">24.7</span> million, to be paid in a variable number of shares based on the current exercise price. On December 21, 2023, the Company issued <span id="xdx_90B_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_pid_c20231221__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_z5dLUXKNelYj" title="Shares issued for purchase rights">21,667</span> shares of the Series F-1 Shares in exchange for a partial value of certain purchase rights, as described above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with issuances of the Exchanged SSNs, during the three months ended March 31, 2025, the Company increased the number of outstanding Purchase Rights by <span id="xdx_905_ecustom--IncreaseDecreaseInPurchaseRightsOutstanding_pid_dc_c20250101__20250331__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--RightsMember_zY4YEJ5vg1b">1,145,333,158</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, due to the reset of their exercise price. This was recorded as a loss on issuance of financial instruments as an immaterial amount in the condensed consolidated statement of operations. No such exercise price reset occurred during the three months ended March 31, 2026. The exercise price will be further adjusted if any other convertible instruments have price resets. No Purchase Rights were exercised in the three months ended March 31, 2026 or 2025. As of March 31, 2026, Purchase Rights to receive <span id="xdx_902_ecustom--PurchaseRightsOutstanding_iI_pid_c20260331__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--RightsMember_z50AFUX2guCk">1,505,819,328</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of the Company’s Common Stock remained outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common Stock Reserved for Future Issuance</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfStockholdersEquityTableTextBlock_zjGjGWyDNjri" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock reserved for future issuance is as follows in common equivalent shares as of March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zGMGTsTUxezd" style="display: none">Summary of Common Stock Reserved for Future Issuance</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Common Stock issuable upon the exercise of stock options outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--CommonStockReservedUponExerciseOfStockOptionsOutstanding_iI_pid_c20260331_zon8NCb8GCU6" style="width: 18%; text-align: right" title="Common stock reserved upon exercise of stock options outstanding">3,324</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock issuable upon the exercise of Common Stock warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CommonStockReservedUponExerciseOfCommonStockWarrants_iI_pid_c20260331_za8Kni2vKdS5" style="text-align: right" title="Common stock reserved upon exercise of common stock warrants">10,595,016</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock available for future issuance under the 2019 ESPP</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlan2019Member_zDfTrWT8reZc" style="text-align: right" title="Common stock available for future issuance under the 2019 ESPP">509</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock available for future issuance under the Inducement Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--AmendedInducementPlanMember_zfamsQpXl46g" style="text-align: right" title="Common stock available for future issuance">609</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock available for future issuance under the 2025 Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFivePlanMember_ziG30tG2peJ7" style="text-align: right" title="Common Stock available for future issuance under the 2025 Plan">55,067,437</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock reserved for the exercise of purchase rights</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--CommonStockReservedForExerciseOfPurchaseRights_iI_pid_c20260331_zjejtyKNfu9k" style="text-align: right" title="Common stock reserved for the exercise of purchase rights">741,490,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock reserved for the conversion of convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConvertiblePreferredStockSharesReservedForFutureIssuance_iI_pid_c20260331_zfWOTkcFLXJd" style="text-align: right" title="Common stock reserved for the conversion of convertible notes">438,939,639</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock reserved for the conversion of series E-1 preferred stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PreferredStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260331_zQ6cZFAH8Yg3" style="text-align: right" title="Common stock reserved for the conversion of series E-1 preferred stock">46,689,005</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Common Stock reserved for the conversion of series G-1 preferred stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--PreferredStockCapitalSharesReservedForFutureIssuanceOne_iI_pid_c20260331_zDg30mxZ1igh" style="border-bottom: Black 1pt solid; text-align: right" title="Common stock reserved for the conversion of series E-1 preferred stock">101,343,389</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Common Stock reserved for future issuance⁽¹⁾</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260331_fKDEp_zaWdmPS1yR72" style="border-bottom: Black 2.5pt double; text-align: right" title="Total common stock reserved for future issuance">1,394,129,570</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zpD34bmwnDy6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span id="xdx_F00_zn9bj5u82Okd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F10_zlEMa93dTegd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potentially dilutive securities in <a href="#n_002">Note 2 – Summary of Significant Accounting Policies</a> includes all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in the table above includes the shares that must legally be reserved based on the applicable instruments’ agreements.</span></td></tr> </table> <p id="xdx_8A7_zZZVxMvrmGS6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> 2731 4575 0.0154 362640 93.75 205360 93.63 P5Y 894194 0.0154 582886 93.75 P5Y 0.0499 0.1999 0.0154 1152122 2.50 2615383 1.25 22189349 0.13 0.0154 263062097 0.18 <p id="xdx_89B_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zpCoAXmD3sVi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zFjgZST3pCo7" style="display: none">Schedule of Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Type of Warrants</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Underlying Common Stock<br/> to be Purchased</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issue Date</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Period</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 24%; text-align: left">Common Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zVwaC80DhnB3" style="width: 14%; text-align: right" title="Class of warrant or right outstanding">888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zaaHC6ByagLl" style="width: 12%; text-align: right" title="Exercise price">11,962.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center">April 11, 2019</td><td style="width: 2%"> </td> <td style="width: 20%"><span id="xdx_904_ecustom--WarrantsExercisePeriodDescription_c20190411__20190411__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zUXDIAYeZMch" title="Warrants exercise period">October 11, 2019 to April 11, 2026</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zti0oyD7tVQ" style="text-align: right" title="Class of warrant or right outstanding">1,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zQZcaooWfa58" style="text-align: right" title="Exercise price">11,962.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 10, 2019</td><td> </td> <td><span id="xdx_906_ecustom--WarrantsExercisePeriodDescription_c20190610__20190610__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zQOXDXmH0Tub" title="Warrants exercise period">December 10, 2019 to June 10, 2026</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zYVflijKOYH2" style="text-align: right" title="Class of warrant or right outstanding">8,003</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zTPQ7A116rbg" style="text-align: right" title="Exercise price">735.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">January 13, 2022</td><td> </td> <td><span id="xdx_907_ecustom--WarrantsExercisePeriodDescription_c20220113__20220113__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z7I73RAKUiN3" title="Warrants exercise period">March 1, 2022 to March 1, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zRQZCjwo7s62" style="text-align: right" title="Class of warrant or right outstanding">8,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zWjb0dYnYHva" style="text-align: right" title="Exercise price">897.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">March 1, 2022</td><td> </td> <td><span id="xdx_903_ecustom--WarrantsExercisePeriodDescription_c20220301__20220301__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zeSsFn5g5kxa" title="Warrants exercise period">March 1, 2022 to March 1, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zxAQFLvptUK2" style="text-align: right" title="Class of warrant or right outstanding">6,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zzecC9NbAxI6" style="text-align: right" title="Exercise price">309.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">May 4, 2022</td><td> </td> <td><span id="xdx_90F_ecustom--WarrantsExercisePeriodDescription_c20220504__20220504__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zisuFowK6Qjg" title="Warrants exercise period">May 4, 2022 to May 4, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zlFuDgAEimYg" style="text-align: right" title="Class of warrant or right outstanding">894,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zerWA8LfXa12" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">May 24, 2022</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20220524__20220524__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zO2WeBq9t94c" title="Warrants exercise period">May 24, 2022 to May 24, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zXrudTgHg6R6" style="text-align: right" title="Class of warrant or right outstanding">582,886</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPOlxS2Bq1sc" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 28, 2022</td><td> </td> <td><span id="xdx_90E_ecustom--WarrantsExercisePeriodDescription_c20220628__20220628__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z54BAf7f629i" title="Warrants exercise period">May 24, 2022 to June 28, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPmZdyaF8Qw4" style="text-align: right" title="Class of warrant or right outstanding">49,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z4Cxa98NHpq9" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">December 21, 2022</td><td> </td> <td><span id="xdx_90F_ecustom--WarrantsExercisePeriodDescription_c20221221__20221221__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z2nXNuvqZUa4" title="Warrants exercise period">December 21, 2022 to December 21, 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zZHoacwSPbVj" style="text-align: right" title="Class of warrant or right outstanding">130,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zK5P9ZnEKkei" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">February 17, 2023</td><td> </td> <td><span id="xdx_907_ecustom--WarrantsExercisePeriodDescription_c20230217__20230217__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zyx1tVJV8781" title="Warrants exercise period">February 17, 2023 to February 17, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zsl4Qf44JZDg" style="text-align: right" title="Class of warrant or right outstanding">258,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z3rQ0e4ftTh5" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">March 20, 2023</td><td> </td> <td><span id="xdx_903_ecustom--WarrantsExercisePeriodDescription_c20230320__20230320__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zzHhIBg3tH5f" title="Warrants exercise period">March 20, 2023 to March 20, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcU3qFb2Lqll" style="text-align: right" title="Class of warrant or right outstanding">369,231</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zFQaXYlz0bt5" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">April 5, 2023</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20230405__20230405__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zO14m87sgtY9" title="Warrants exercise period">April 5, 2023 to April 5, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zEISA2kCi0I" style="text-align: right" title="Class of warrant or right outstanding">349,463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zImxyLOo2u91" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">July 3, 2023</td><td> </td> <td><span id="xdx_906_ecustom--WarrantsExercisePeriodDescription_c20230702__20230703__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zwWJMyQnyugb" title="Warrants exercise period">July 3, 2023 to July 3, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_z5mSHOEIzd8l" style="text-align: right" title="Class of warrant or right outstanding">615,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zypA6bfbmvqf" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">August 4, 2023</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20230803__20230804__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zR3ti0Z9UOti" title="Warrants exercise period">August 4, 2023 to August 4, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zi82ZIlBMm3f" style="text-align: right" title="Class of warrant or right outstanding">12,721,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_znyBLWNtsAS3" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">September 27, 2023</td><td> </td> <td><span id="xdx_908_ecustom--WarrantsExercisePeriodDescription_c20230926__20230927__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcPAIjbosx7" title="Warrants exercise period">September 27, 2023 to September 27, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zt1mERp39Mvc" style="text-align: right" title="Class of warrant or right outstanding">149,850,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zPeaJapoALf" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">April 8, 2025</td><td> </td> <td><span id="xdx_900_ecustom--WarrantsExercisePeriodDescription_c20250408__20250408__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zuS1t6JF9Bgj" title="Warrants exercise period">April 8, 2025 to April 8, 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zKseOxI2FoBh" style="text-align: right" title="Class of warrant or right outstanding">92,407,592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zwlJGQ59HDk9" style="text-align: right" title="Exercise price">0.0154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">June 26, 2025</td><td> </td> <td><span id="xdx_90B_ecustom--WarrantsExercisePeriodDescription_c20250626__20250626__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zcTJ6PvuEUc6" title="Warrants exercise period">June 26, 2025 to June 26, 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Prefunded Common Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_z9sJmOxNmMU4" style="border-bottom: Black 1pt solid; text-align: right" title="Class of warrant or right outstanding">4,807,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_ztXzvMQrhP7b" style="padding-bottom: 1pt; text-align: right" title="Exercise price">0.0010</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">September 27, 2023</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"><span id="xdx_90B_ecustom--WarrantsExercisePeriodDescription_c20230926__20230927__us-gaap--StatementEquityComponentsAxis__custom--PrefundedCommonWarrantsMember_zF1FwMAbFyT9" title="Warrants exercise period">September 27, 2023 to September 27, 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20251231_zkTmrrFJGes6" style="border-bottom: Black 2.5pt double; text-align: right" title="Underlying common stock to be purchased">263,062,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> 888 11962.50 October 11, 2019 to April 11, 2026 1480 11962.50 December 10, 2019 to June 10, 2026 8003 735.00 March 1, 2022 to March 1, 2027 8303 897.56 March 1, 2022 to March 1, 2027 6666 309.56 May 4, 2022 to May 4, 2027 894194 0.0154 May 24, 2022 to May 24, 2027 582886 0.0154 May 24, 2022 to June 28, 2027 49227 0.0154 December 21, 2022 to December 21, 2027 130461 0.0154 February 17, 2023 to February 17, 2028 258584 0.0154 March 20, 2023 to March 20, 2028 369231 0.0154 April 5, 2023 to April 5, 2028 349463 0.0154 July 3, 2023 to July 3, 2028 615384 0.0154 August 4, 2023 to August 4, 2028 12721893 0.0154 September 27, 2023 to September 27, 2028 149850150 0.0154 April 8, 2025 to April 8, 2030 92407592 0.0154 June 26, 2025 to June 26, 2030 4807692 0.0010 September 27, 2023 to September 27, 2028 263062097 5000000 0.0001 0.0001 2300 10000 0.40 1.25 The Series E-1 Shares were entitled to dividends at a rate of 10% per annum (which increased as per the provision below as of April 1, 2025) or 12% upon a triggering event. On the 18-month anniversary of the initial issuance date for the Series E-1 convertible preferred stock, the dividend rate increased by 30% and will increase another 30% on the first day of each subsequent quarter until no E-1 Shares remain outstanding. 0.25 1800000 1800 0.0154 0.25 0.0001 95000 0.0635 0.25 0.0154 22280 613 9972074 21667 4000 4000000.0 1000000.0 4000 5000000.0 1600000 1573 1000 0.0154 0.25 100000 (i) the applicable conversion price then in effect, (ii) 80% of the VWAP of the Common Stock on the trading day immediately preceding the delivery of the applicable conversion notice, (iii) 80% of the VWAP of the Common Stock on the trading day of the delivery of the applicable conversion notice and (iv) 80% of the price computed as the quotient of (I) the sum of the VWAP of the Common Stock for each of the three (3) trading days with the lowest VWAP of the Common Stock during the fifteen (15) consecutive trading day period ending and including the trading day immediately preceding the delivery of the applicable conversion notice, divided by (II) three (3). 0.08 5844156 90 3000000000 942080 24700000 21667 1145333158 1505819328 <p id="xdx_891_eus-gaap--ScheduleOfStockholdersEquityTableTextBlock_zjGjGWyDNjri" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock reserved for future issuance is as follows in common equivalent shares as of March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zGMGTsTUxezd" style="display: none">Summary of Common Stock Reserved for Future Issuance</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Common Stock issuable upon the exercise of stock options outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--CommonStockReservedUponExerciseOfStockOptionsOutstanding_iI_pid_c20260331_zon8NCb8GCU6" style="width: 18%; text-align: right" title="Common stock reserved upon exercise of stock options outstanding">3,324</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock issuable upon the exercise of Common Stock warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--CommonStockReservedUponExerciseOfCommonStockWarrants_iI_pid_c20260331_za8Kni2vKdS5" style="text-align: right" title="Common stock reserved upon exercise of common stock warrants">10,595,016</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock available for future issuance under the 2019 ESPP</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlan2019Member_zDfTrWT8reZc" style="text-align: right" title="Common stock available for future issuance under the 2019 ESPP">509</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock available for future issuance under the Inducement Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--AmendedInducementPlanMember_zfamsQpXl46g" style="text-align: right" title="Common stock available for future issuance">609</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock available for future issuance under the 2025 Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFivePlanMember_ziG30tG2peJ7" style="text-align: right" title="Common Stock available for future issuance under the 2025 Plan">55,067,437</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock reserved for the exercise of purchase rights</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--CommonStockReservedForExerciseOfPurchaseRights_iI_pid_c20260331_zjejtyKNfu9k" style="text-align: right" title="Common stock reserved for the exercise of purchase rights">741,490,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Stock reserved for the conversion of convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ConvertiblePreferredStockSharesReservedForFutureIssuance_iI_pid_c20260331_zfWOTkcFLXJd" style="text-align: right" title="Common stock reserved for the conversion of convertible notes">438,939,639</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common Stock reserved for the conversion of series E-1 preferred stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PreferredStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260331_zQ6cZFAH8Yg3" style="text-align: right" title="Common stock reserved for the conversion of series E-1 preferred stock">46,689,005</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Common Stock reserved for the conversion of series G-1 preferred stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--PreferredStockCapitalSharesReservedForFutureIssuanceOne_iI_pid_c20260331_zDg30mxZ1igh" style="border-bottom: Black 1pt solid; text-align: right" title="Common stock reserved for the conversion of series E-1 preferred stock">101,343,389</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Common Stock reserved for future issuance⁽¹⁾</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260331_fKDEp_zaWdmPS1yR72" style="border-bottom: Black 2.5pt double; text-align: right" title="Total common stock reserved for future issuance">1,394,129,570</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3324 10595016 509 609 55067437 741490642 438939639 46689005 101343389 1394129570 <p id="xdx_800_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zVv4PKkZ99y3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_009"></span>9. <span id="xdx_829_z0iztwxss9qf">Stock-based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Equity Incentive Plans</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_do_c20260101__20260331_zRjRVo14vlEg" title="Equity awards issued">No</span> equity awards were issued in either period presented. The following table summarizes stock-based compensation expense related to stock options granted to employees, non-employee directors and consultants included in the condensed consolidated statements of operations as follows (in thousands):</span></p> <p id="xdx_895_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zY2KK3ACTzjj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdBZRHMmIaN5" style="display: none">Schedule of Stock-based Compensation Expense Related to Stock Options</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_zvVnMMvM7tHc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250331_z9YOproL5ao2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--ResearchAndDevelopmentMember_zuOTe3FXazvi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1863">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--SellingAndMarketingMember_zhPHGNRMA3B3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Selling and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--GeneralAndAdministrativeMember_zjnOzBQCGqv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zEn80LtK7w0d" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">70</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zmvSVlSxlnKf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock Options</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_do_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zhI7jo8PtxX2" title="Stock-based compensation awards issued"><span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_do_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUysH2QQKEo9" title="Stock-based compensation awards issued">no</span></span> stock options granted during the three months ended March 31, 2026 or 2025. As of March 31, 2026, there was <span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_do_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zDilJk97Iee6" title="Unrecognized stock-based compensation expense">no</span> unrecognized stock-based compensation expense for employee stock options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0 <p id="xdx_895_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zY2KK3ACTzjj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdBZRHMmIaN5" style="display: none">Schedule of Stock-based Compensation Expense Related to Stock Options</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_zvVnMMvM7tHc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250331_z9YOproL5ao2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--ResearchAndDevelopmentMember_zuOTe3FXazvi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1863">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--SellingAndMarketingMember_zhPHGNRMA3B3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Selling and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hcustom--StatementOfIncomeLocationsBalanceAxis__custom--GeneralAndAdministrativeMember_zjnOzBQCGqv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">66</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_zEn80LtK7w0d" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">70</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 1000 1000 3000 14000 66000 15000 70000 0 0 0 <p id="xdx_80B_eus-gaap--SubsequentEventsTextBlock_zYaVqtttkKgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="n_010"></span>10. <span id="xdx_828_zkWBZowaGNnk">Subsequent Events</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s management has evaluated subsequent events after the unaudited consolidated balance sheet dated as of March 31, 2026, through the date of filing of this Quarterly Report. Based upon the evaluation, management has determined that, other than as disclosed herein, no subsequent events have occurred that would require recognition in the accompanying condensed consolidated financial statements or disclosure in the notes thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Amendment of Adjuvant Notes</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 10, 2026, the Company and the Adjuvant Purchasers entered into a fourth amendment to the Adjuvant Purchase Agreement (the Adjuvant Fourth Amendment). The Adjuvant Fourth Amendment amends certain provisions including updating the date that the Adjuvant Notes will be payable in full to the earlier of (a) six months after April 10, 2026, (b) at the election of Adjuvant, upon a Change of Control (as defined in the Adjuvant Purchase Agreement), and (c) the date of any acceleration of the Adjuvant Notes in accordance with Section 8 (the maturity date, as defined in the Adjuvant Purchase Agreement). The Adjuvant Notes may not be prepaid prior to October 10, 2026 without prior written consent of the Adjuvant Purchasers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><b><i>Distributorship Agreement</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in">On April 24, 2026, the Company entered into a Distributorship Agreement with Clovis Davis Pharmaceuticals, Inc. for distribution of SOLOSEC in sub-Saharan Africa.</p> false false false false The potentially dilutive securities in the table above include all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in Note 8 – Convertible and Redeemable Preferred Stock and Stockholders’ Deficit includes the shares that must legally be reserved based on the applicable instruments’ agreements. Warrants include 99,692 issued to the placement agent. As described above, for accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs. The maturity date under the Exchanged SSNs is December 1, 2026. Warrants include 43,200 issued to the placement agent. Warrants include 22,189,349 common warrants at $0.13 per share at issuance and 4,807,692 pre-funded warrants exercisable at $0.001 per share. These liabilities were carried at fair value in the condensed consolidated balance sheets as of the applicable reporting date. As such, the principal and accrued interest was included in the determination of fair value. The related debt issuance costs were expensed. The Baker Notes principal amount includes $39.4 million and $36.4 million of interest paid in-kind as of March 31, 2026 and December 31, 2025, respectively. For accounting purposes, the Company accounted for the Exchanged SSNs as a modification of the Original SSNs rather than as an extinguishment which would require derecognizing the fair value of Original SSNs and related accumulated other comprehensive loss and replacing them with the fair value of the Exchanged SSNs. The Adjuvant Notes are recorded in the condensed consolidated balance sheets at their net carrying amount which includes principal and accrued interest. The potentially dilutive securities in Note 2 – Summary of Significant Accounting Policies includes all potentially dilutive securities that are not included in the diluted net income (loss) per share as per U.S. GAAP, whereas the total Common Stock reserved for future issuance in the table above includes the shares that must legally be reserved based on the applicable instruments’ agreements.