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1. NATURE OF OPERATIONS 60 Degrees Pharmaceuticals, Inc. was incorporated in Delaware on June 1, 2022 and merged on the same day with 60 Degrees Pharmaceuticals, LLC, a District of Columbia limited liability company organized on September 9, 2010 (“60P LLC”). 60 Degrees Pharmaceuticals, Inc. and its subsidiary (referred to collectively as the “Company”, “60P”, or “60 Degrees Pharmaceuticals”) is a specialty pharmaceutical company that specializes in the development and marketing of new medicines for the treatment and prevention of infectious diseases. 60P achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. Currently, 60P’s pipeline under development covers development programs for vector-borne diseases utilizing three of the Company’s future products: (i) new products that contain the Arakoda regimen of tafenoquine; (ii) new products that contain tafenoquine; and (iii) celgosivir and/or botanical extracts from Australian Chestnut Trees. The Company’s headquarters are located in Washington, D.C., with a majority-owned subsidiary in Australia. Since the Company’s initial public offering in July 2023, its common stock has been listed and trades on The Nasdaq Capital Market under the symbol “SXTP,” and tradeable warrants under the symbol “SXTPW.” Risks and Uncertainties The Company is subject to risks common to companies in the biopharmaceutical industry including, but not limited to, the risks associated with developing product candidates and successfully launching and commercializing its drug/device combination products, the Company’s ability to obtain regulatory approval of such products in the United States and other geography markets, the uncertainty of the broad adoption of its approved products by physicians and consumers, and significant competition. In addition, higher rates of inflation have resulted in the U.S. Federal Reserve raising interest rates. Increases in interest rates, especially if coupled with reduced government spending and volatility in financial markets, may further increase economic uncertainty and heighten these risks. Furthermore, if additional banks and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking system and financial markets, the Company or its partners’ ability to access existing cash, cash equivalents and investments may be threatened and could have a material adverse effect on the Company’s business and financial condition, including the Company’s ability to access additional capital on favorable terms, or at all, which could in the future negatively affect the Company’s ability to pursue its business strategy. Going Concern The Company’s future results are subject to substantial risks and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating expenses and has accumulated losses to date. At March 31, 2026, the Company had cash and cash equivalents totaling $3,337,760, as compared to cash and cash equivalents totaling $1,510,065 at December 31, 2025. During the three months ended March 31, 2026, the Company used cash of $2,741,559 in its operating activities. The Company’s capital commitments over the next twelve months include interest and principal payments on the Company’s debt arrangement of $8,772, $1,487,590 to satisfy accounts payable and accrued expenses, and $18,522 payable under its short-term lease arrangement. In addition, the Company is subject to certain royalty obligations based on future net product sales (See Note 11). To date, the Company has funded its operations primarily with proceeds from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible debt and borrowings under loan and security agreements. Continuation as a going concern is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s single marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities relating to commercial support for its existing product and any future clinical research trials and operating activities. However, there can be no assurance that it will ever achieve or maintain profitability. Accordingly, there is no assurance that the Company will be able to obtain the additional capital necessary to fund its operations during the look‑forward period. These conditions, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date these consolidated condensed financial statements are issued. <div style="-aw-sdt-tag:'PG_c12ebe76f85b70d02c5e'"></div>Management plans to fund operations of the Company through third party and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent offering until such a time as the business achieves profitability or a business combination may be achieved. However, there can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are favorable to the Company. Debt financing and equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If the Company raises funds through collaborations, or other similar arrangements with third parties, it may have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates or grant licenses on terms that may not be favorable to the Company and/or may reduce the value of its common stock. If the Company is unable to raise additional funds through equity or debt financings when needed, it may be required to delay, limit, reduce or terminate its product development or future commercialization efforts or grant rights to develop and market its product candidates even if the Company would otherwise prefer to develop and market such product candidates itself. Management has evaluated these conditions and its plans to mitigate them and concluded that, collectively, such plans do not alleviate the substantial doubt about the Company’s ability to continue as a going concern for at least one year after the date these consolidated condensed financial statements are issued. The consolidated condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business, and do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <div style="-aw-sdt-tag:'cdb505dc74cc1259e26b'">Basis of Presentation The financial statements of 60P and its subsidiary are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company has prepared the accompanying consolidated condensed financial statements pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”). These financial statements are unaudited and, in the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows have been included and are of a normal and recurring nature. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2026 due to various factors. These consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto as of and for the years ended December 31, 2025 and 2024, included in the Company’s annual report on Form 10-K, as filed with the SEC on March 30, 2026 (the “Annual Report”). Certain information, footnote disclosures, and significant accounting policies that would substantially duplicate the disclosures contained in the Annual Report have been omitted.</div> <div style="-aw-sdt-tag:'d24-ead-d5b-0d7-fd95'">Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and those estimates may be material. Significant estimates include the reserve for inventory, the fair value of derivative liabilities, and stock-based compensation.</div> <div style="-aw-sdt-tag:'PG_c5050bfc508bd0645091'"></div><div style="-aw-sdt-tag:'c6fb7024e47107499fcb'">Reverse Stock Splits Following stockholder approval in November 2024, the Company effected a reverse stock split at a ratio of 1:5, which was effective as of February 4, 2025 (the “1:5 Reverse Stock Split”). Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:5 Reverse Stock Split, the “Reverse Stock Splits”). Beginning January 20, 2026, the common stock traded on The Nasdaq Capital Market on a split adjusted basis. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable, in accordance with the terms of the instruments. Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in these consolidated condensed financial statements have been retroactively adjusted, as appropriate, to reflect the effects of the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.</div> <div style="-aw-sdt-tag:'ce4d5252ffc132995fd3'">Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, inventory purchases, and borrowings. Significant customers represent any customer whose business makes up 10% of receivables or revenues. At March 31, 2026, significant customers represented 100% of receivables (consisting of one significant customer at 100%), and 97% of receivables at December 31, 2025 (consisting of three total customers and one significant customer). For the three months ended March 31, 2026, significant customers comprised 100% of total net product revenues (consisting of two total customers and two significant at 90% and 10%, respectively). For the three months ended March 31, 2025, 85% of total net product revenues (consisting of three total customers and one significant customer) were generated from significant customers. Currently, the Company has exclusive relationships with distributors in Australia and Europe. A failure to perform by any of our current distributors would create disruption for patients in those markets. Since the Company first started working on tafenoquine, all inventory has been acquired in a collaborative relationship from a sole vendor. Should the vendor cease to supply tafenoquine, it would take significant costs and efforts to rebuild the supply chain with a new sole vendor sourcing the active pharmaceutical ingredient (“API”).</div> <div style="-aw-sdt-tag:'cb21377b78bedc008a21'">Segment Information Since its inception, the Company operates and manages its business as a single identifiable segment, focused on the development and marketing of new medicines for the treatment and prevention of infectious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income or loss for purposes of evaluating performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The significant components of consolidated net income or loss regularly provided to the CODM include net product revenues and the significant expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss (cost of revenues, research and development, and general and administrative expenses). These are presented at the consolidated level and used by the CODM to monitor budgeted versus actual results to make key operating decisions. The information and operating expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss are fully reflective of the significant expense categories and amounts that are regularly provided to the CODM.<div style="-aw-sdt-tag:'PG_c24bb3258a68b0280db8'"></div></div><div style="-aw-sdt-tag:'cb21377b78bedc008a21'">The measure of segment assets that is regularly reported to the CODM includes cash and cash equivalents and short-term investments, each as reported on the consolidated condensed balance sheets. Total consolidated cash and cash equivalents and short-term investments were $3,337,760 and $2,750,786 as of March 31, 2026 and December 31, 2025, respectively.</div> <div style="-aw-sdt-tag:'aed-ca6-c7c-350-2bc6'">Derivative Liabilities The Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic No. 480, Distinguishing Liabilities from Equity (“ASC 480”), and FASB ASC Topic No. 815, Derivatives and Hedging (“ASC 815”). The classification of derivative financial instruments is reassessed each reporting period. Derivative liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations, as a component of other income or expense as change in fair value of derivative liabilities. As of March 31, 2026, derivative liabilities consist of contingent payment arrangements. The Company uses a probability-weighted expected return method to determine the fair value of these instruments. Upon conversion or repayment of a debt or equity instrument in exchange for equity shares, where the embedded conversion option has been bifurcated and accounted for as a derivative liability (generally convertible debt and warrants), the Company records the equity shares at fair value on the date of conversion, relieves all related debt, derivative liabilities, and unamortized debt discounts, and recognizes a net gain or loss on debt extinguishment, if any. Equity or liability instruments that become subject to reclassification under ASC 815 are reclassified at the fair value of the instrument on the reclassification date.</div> <div style="-aw-sdt-tag:'c263c163ec50c04829df'">Equity-Classified Warrants As of March 31, 2026, the Company accounts for all outstanding warrants to purchase common stock as equity-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the respective issuance dates and as of each subsequent reporting period while the warrants are outstanding.</div> <div style="-aw-sdt-tag:'cd350ef809c535d516f7'">Revenue Recognition The Company recognizes revenue in accordance with FASB ASC Topic No. 606, Revenue from Contracts with Customers (“ASC 606”). Revenues are recognized when control is transferred to customers in amounts that reflect the consideration the Company expects to be entitled to receive in exchange for those goods. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. As part of the accounting for these arrangements, the Company may be required to make significant judgments, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation. Revenues from product sales are recorded at the net sales price, or “transaction price,” which may include estimates of variable consideration that result from product returns. The Company determines the amount of variable consideration by using either the expected value method or the most-likely-amount method. The Company includes the unconstrained amount of estimated variable consideration in the transaction price, which reflects the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. Reserves are established for the estimates of variable consideration based on the amounts the Company expects to be earned or to be claimed on the related sales. <div style="-aw-sdt-tag:'PG_c6053e6c5f792d82acc2'"></div></div><div style="-aw-sdt-tag:'cd350ef809c535d516f7'">The Company receives the majority of its revenues from sales of its Arakoda product to resellers in the US and abroad. The Company records US commercial revenues as a receivable when our American distributor transfers shipped product to their title model for 60P. Foreign sales to both Australia and Europe are recognized as a receivable at the point product is shipped to the distributor. Historically, the shipments to Australia and Europe were further subject to profit sharing agreements for boxes sold to customers. In addition to revenue from product sales, in 2025, the Company recognized research revenues associated with its contract with the United States Army Medical Material Development Activity (USAMMDA) for Arakoda supply chain upgrade support. Research revenue under this contract was recognized when the direct costs eligible for reimbursement are incurred, up to the maximum allowable amount. Our USAMMDA-funded activities were completed during the year ended December 31, 2025. Other research revenues consist of sales of clinical trial supplies, which are recognized at a point in time, and research rebates earned from the Australian Tax Authority, which are recognized over time as qualifying research activities in Australia are performed.</div> <div style="-aw-sdt-tag:'c84f7303a81bfc500dea'">Research and Development Costs The Company accounts for research and development costs in accordance with FASB ASC Subtopic No. 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, research and development costs are expensed as incurred. Accordingly, internal research and development costs are expensed as incurred. Prepayments for research and development services are deferred and amortized over the service period as the services are provided. Advance payments for specific materials, equipment, or facilities determined to have no alternative future use are initially deferred and recognized as research and development expense when the related goods are delivered. The Company recorded $281,464 and $370,813 in research and development costs during the three months ended March 31, 2026 and 2025, respectively. The Company has also issued shares of common stock to nonemployees in exchange for research and development services. The Company recognizes prepaid research and development costs on the grant date, as defined in FASB ASC Subtopic No. 718, Compensation - Stock Compensation. See Note 10 for further details.</div> <div style="-aw-sdt-tag:'c8e2e451fcc7fadfeb42'">Fair Value of Financial Instruments The carrying value of the Company’s financial instruments included in current assets and current liabilities (such as cash, accounts receivable, accounts payable, and accrued expenses) approximate their fair value due to the short-term nature of such instruments. The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:36pt; vertical-align:top">Level 1</td><td style="width:18pt; vertical-align:top"><div style="-aw-sdt-tag:'c574d522f70efd479dc3'">-</div></td><td style="vertical-align:top">Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 2</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c41453b900cbc0348861'">-</div></td><td style="vertical-align:top">Observable prices that are based on inputs not quoted on active markets but corroborated by market data.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 3</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c38191d9430425b3ee7b'">-</div></td><td style="vertical-align:top">Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.</td></tr></tbody></table> The Company’s financial instruments recorded at fair value on a recurring basis at March 31, 2026, and December 31, 2025 include the derivative liability associated with the contingent milestone payment due to Knight upon a future sale of Arakoda or a Change of Control, which is carried at fair value based on Level 3 inputs. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment using significant inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. See Note 8 for more information on Derivative Liabilities. <div style="-aw-sdt-tag:'PG_c0c20bca974f854c1494'"></div></div><div style="-aw-sdt-tag:'c8e2e451fcc7fadfeb42'"><div style="-aw-sdt-tag:'ce01f1bed3993d32f2f9'">Liabilities measured at fair value at March 31, 2026 and December 31, 2025 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'298-a60-e6e-2e7-5d61'">March 31, 2026</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 1</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 2</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 3</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Total</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Liabilities:</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff">Derivative Liabilities</td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Total</td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'">Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'">Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">374,741</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'">Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">374,741</div></td></tr></tbody></table></div></div> There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. A rollforward of liabilities measured at fair value using Level 3 inputs for the three months ended March 31, 2026 and 2025 is presented in Note 8 – Derivative Liabilities. </div> <div style="-aw-sdt-tag:'ce957af50e61212b40ab'">Assets and Liabilities Not Measured at Fair Value on a Recurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company also measures certain assets and liabilities at fair value on a non-recurring basis. The Company’s non-financial assets, including Intangible Assets and Property and Equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. Certificates of deposit, classified as cash equivalents or short-term investments depending on the instrument’s original time to maturity, are measured at amortized cost, which approximates fair value as of March 31, 2026 and December 31, 2025.</div> <div style="-aw-sdt-tag:'26d-83f-d3a-9b4-0d23'">Foreign Currency Transactions and Translation The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency). The consolidated condensed financial statements of the Company are presented in US dollars, which is the functional currency of the Company and the presentation currency for the consolidated condensed financial statements. For the purpose of presenting consolidated condensed financial statements, the assets and liabilities of the Company’s foreign operations are mostly translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognized as a component of other comprehensive income (loss) as unrealized foreign currency translation gain (loss). <div style="-aw-sdt-tag:'PG_c0a5df5ef4dd14c932ff'"></div></div><div style="-aw-sdt-tag:'26d-83f-d3a-9b4-0d23'"><div style="-aw-sdt-tag:'a93-fa5-980-541-078a'">Exchange rates along with historical rates used in these financial statements are as follows: <div style="-aw-sdt-tag:'549-6dd-c75-531-a655'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T3'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:12.75pt"><td style="width:56%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'60c-d55-76d-e8a-a396'">Average Exchange Rate</div></td></tr><tr style="height:12.75pt"><td style="width:56%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_659f3565fccf471d885d5bbcc6f23513'">Three Months Ended March 31,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'37b-261-e48-9cf-3106'">As of</div></td></tr><tr style="height:12.75pt"><td style="width:56%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_973ee19447724c17b71b4faa457b2249'">Currency</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_e3e1c97c5b854e929dfeef87960bfbc4'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_91424ca5026c4cce945405cc6ea74a81'">2025</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'afe-3a0-938-3ed-cbca'">March 31, 2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'c53-fa5-4a8-59d-1265'">December 31, 2025</div></td></tr><tr style="height:12.75pt"><td style="width:56%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'368-46b-123-d37-b5a5'">1 AUD =</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'a5c-2eb-1da-374-8aea'">0.69</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'da2-0d6-e27-838-eeb1'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'3f7-a43-9a9-075-de50'">0.63</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'1f8-a08-9c1-f3c-cb64'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'57a-0f0-ce5-00c-7fc7'">0.69</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'48e-ab2-720-6ef-15f0'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'87c-de0-eaf-e1e-7f0f'">0.67</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'629-6ab-ad5-5d0-56fd'">USD</div></td></tr></tbody></table></div></div></div> <div style="-aw-sdt-tag:'cfbab6fdada9c08626e2'">Reclassifications Certain prior period interim amounts have been reclassified for consistency with the current period presentation. These reclassifications had no material effect on the consolidated condensed results of operations and comprehensive loss, shareholders’ equity, or cash flows.</div> <div style="-aw-sdt-tag:'c5ae9390f02706bea469'">Share-Based Payments On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more fully in Note 10. The Company accounts for share-based payments in accordance with ASC Subtopic 718, Compensation - Stock Compensation (“ASC 718”). The Company measures compensation for all share-based payment awards granted to employees, directors, and nonemployees, based on the estimated fair value of the awards on the date of grant. For awards that vest based on continued service, the service-based compensation cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For service vesting awards with compensation expense recognized on a straight-line basis, at no point in time does the cumulative grant date value of vested awards exceed the cumulative amount of compensation expense recognized. The grant date is determined based on the date when a mutual understanding of the key terms of the share-based awards is established. The Company accounts for forfeitures as they occur. The Company estimates the fair value of all stock option awards as of the grant date by applying the Black-Scholes option pricing model. The application of this valuation model involves assumptions, including the fair value of the common stock, expected volatility, risk-free interest rate, expected dividends and the expected term of the option. Due to the lack of a public market for the Company’s common stock prior to the IPO and lack of company-specific historical implied volatility data, the Company has based its computations of expected volatility on the historical volatility of a representative group of public companies with similar characteristics of the Company, including stage of development and industry focus. The historical volatility is calculated based on a period of time commensurate with the expected term assumption. The Company generally uses the simplified method as prescribed by the SEC Staff Accounting Bulletin Topic 14, Share-Based Payment, to estimate the expected term for stock options, whereby, the expected term equals the midpoint of the weighted average remaining time to vest, vesting period and the contractual term of the options due to its lack of historical exercise data. For certain options granted out-of-the-money, the Company’s best estimate of the expected term is the contractual term of the award. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The assumptions used in calculating the fair value of share-based awards represent management’s best estimates and involve inherent uncertainties and the application of significant judgment. Compensation expense for restricted stock units (“RSUs”) with only service-based vesting conditions is recognized on a straight-line basis over the vesting period. Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded. For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense is recognized until the performance-based vesting condition is achieved, at which time the cumulative compensation expense is recognized. Compensation cost related to any remaining time-based service for share-based awards after the liquidity-based event is recognized on a straight-line basis over the remaining service period. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments on the grant date. The corresponding cost is recognized as an immediate expense or a prepaid asset and expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. See Note 10 for further details.</div> <div style="-aw-sdt-tag:'PG_c8b1ac81b7bf3b856ef3'"></div><div style="-aw-sdt-tag:'794-d85-929-836-82be'">Net Loss per Common Share Net Loss per Common Share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during each period. The Company includes pre-funded warrants, which carry a nominal exercise price per share, in its computation of basic and diluted net loss per share beginning on the date of issuance. The cumulative dividends accrued on the Series A Preferred Stock during the period are reflected as an addition to net loss or a reduction of net income in determining basic and diluted net loss attributable to common stockholders. As the Company reported a net loss for all periods presented, the calculation of diluted net loss per common share is the same as basic net loss per common share. Potentially dilutive securities, including stock options, RSUs, warrants and shares of Series A Preferred Stock on an as‑converted basis, were excluded from the computation of diluted net loss per common share for all periods presented because their effect would have been antidilutive. As a result of the Reverse Stock Splits, which were effective as of February 24, 2025 at a ratio of 1:5 and January 20, 2026 at a ratio of 1:4, all weighted average shares of common stock outstanding and net loss per common share calculations have been retroactively adjusted for all periods presented.</div> <div style="-aw-sdt-tag:'c5700c4a179318bf9512'">Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.</div> <div style="-aw-sdt-tag:'c49a2178ae9eff53812a'">Subsequent Events The Company considers events or transactions that occur after the balance sheet date, but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through May 15, 2026, which is the date the financial statements were issued. See Note 12.</div> <div style="-aw-sdt-tag:'b58-716-f7b-33e-6c0c'">Recently Adopted and Issued Accounting Pronouncements From time to time, the FASB issues Accounting Standards Updates (“ASUs”) to amend the authoritative literature in the ASC. The Company regularly evaluates new ASUs to determine the impact that these pronouncements may have on the consolidated condensed financial statements. Other than the pronouncements listed below, the Company believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, or (iii) are not applicable to the Company’s consolidated condensed financial statements or related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures. In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40. The amendments modernize the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. The ASU is effective for all entities for interim and annual periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact that ASU 2025-06 will have on its financial statements. In September 2025, the FASB issued ASU 2025-07, Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract (“ASU 2025-07”). ASU 2025-07 adds a new scope exception from derivative accounting under ASC 815 for certain non-exchange-traded contracts with customers with an underlying that is based on operations or activities specific to one of the parties to the contract. Further, ASU 2025-07 clarifies that an entity should apply the guidance in ASC 606 to a contract with stock-based noncash consideration. The ASU is effective for annual periods beginning after December 15, 2026 and interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact that ASU 2025-07 will have on its financial statements.</div>

Following stockholder approval in November 2024, the Company effected a reverse stock split at a ratio of 1:5, which was effective as of February 4, 2025 (the “1:5 Reverse Stock Split”).

Following stockholder approval in October 2025, the Company effected an additional reverse stock split at a ratio of 1:4 (the “1:4 Reverse Stock Split” and together with the 1:5 Reverse Stock Split, the “Reverse Stock Splits”).

Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, inventory purchases, and borrowings. Significant customers represent any customer whose business makes up 10% of receivables or revenues. At March 31, 2026, significant customers represented 100% of receivables (consisting of one significant customer at 100%), and 97% of receivables at December 31, 2025 (consisting of three total customers and one significant customer). For the three months ended March 31, 2026, significant customers comprised 100% of total net product revenues (consisting of two total customers and two significant at 90% and 10%, respectively). For the three months ended March 31, 2025, 85% of total net product revenues (consisting of three total customers and one significant customer) were generated from significant customers. Currently, the Company has exclusive relationships with distributors in Australia and Europe. A failure to perform by any of our current distributors would create disruption for patients in those markets. Since the Company first started working on tafenoquine, all inventory has been acquired in a collaborative relationship from a sole vendor. Should the vendor cease to supply tafenoquine, it would take significant costs and efforts to rebuild the supply chain with a new sole vendor sourcing the active pharmaceutical ingredient (“API”).

0.10

0.97

0.90

0.10

0.85

Segment Information Since its inception, the Company operates and manages its business as a single identifiable segment, focused on the development and marketing of new medicines for the treatment and prevention of infectious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income or loss for purposes of evaluating performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The significant components of consolidated net income or loss regularly provided to the CODM include net product revenues and the significant expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss (cost of revenues, research and development, and general and administrative expenses). These are presented at the consolidated level and used by the CODM to monitor budgeted versus actual results to make key operating decisions. The information and operating expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss are fully reflective of the significant expense categories and amounts that are regularly provided to the CODM.<div style="-aw-sdt-tag:'PG_c24bb3258a68b0280db8'"></div>The measure of segment assets that is regularly reported to the CODM includes cash and cash equivalents and short-term investments, each as reported on the consolidated condensed balance sheets. Total consolidated cash and cash equivalents and short-term investments were $3,337,760 and $2,750,786 as of March 31, 2026 and December 31, 2025, respectively.

3337760

2750786

Revenue Recognition The Company recognizes revenue in accordance with FASB ASC Topic No. 606, Revenue from Contracts with Customers (“ASC 606”). Revenues are recognized when control is transferred to customers in amounts that reflect the consideration the Company expects to be entitled to receive in exchange for those goods. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. As part of the accounting for these arrangements, the Company may be required to make significant judgments, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation. Revenues from product sales are recorded at the net sales price, or “transaction price,” which may include estimates of variable consideration that result from product returns. The Company determines the amount of variable consideration by using either the expected value method or the most-likely-amount method. The Company includes the unconstrained amount of estimated variable consideration in the transaction price, which reflects the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. Reserves are established for the estimates of variable consideration based on the amounts the Company expects to be earned or to be claimed on the related sales. <div style="-aw-sdt-tag:'PG_c6053e6c5f792d82acc2'"></div>The Company receives the majority of its revenues from sales of its Arakoda product to resellers in the US and abroad. The Company records US commercial revenues as a receivable when our American distributor transfers shipped product to their title model for 60P. Foreign sales to both Australia and Europe are recognized as a receivable at the point product is shipped to the distributor. Historically, the shipments to Australia and Europe were further subject to profit sharing agreements for boxes sold to customers. In addition to revenue from product sales, in 2025, the Company recognized research revenues associated with its contract with the United States Army Medical Material Development Activity (USAMMDA) for Arakoda supply chain upgrade support. Research revenue under this contract was recognized when the direct costs eligible for reimbursement are incurred, up to the maximum allowable amount. Our USAMMDA-funded activities were completed during the year ended December 31, 2025. Other research revenues consist of sales of clinical trial supplies, which are recognized at a point in time, and research rebates earned from the Australian Tax Authority, which are recognized over time as qualifying research activities in Australia are performed.

281464

370813

Fair Value of Financial Instruments The carrying value of the Company’s financial instruments included in current assets and current liabilities (such as cash, accounts receivable, accounts payable, and accrued expenses) approximate their fair value due to the short-term nature of such instruments. The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:36pt; vertical-align:top">Level 1</td><td style="width:18pt; vertical-align:top"><div style="-aw-sdt-tag:'c574d522f70efd479dc3'">-</div></td><td style="vertical-align:top">Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 2</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c41453b900cbc0348861'">-</div></td><td style="vertical-align:top">Observable prices that are based on inputs not quoted on active markets but corroborated by market data.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 3</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c38191d9430425b3ee7b'">-</div></td><td style="vertical-align:top">Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.</td></tr></tbody></table> The Company’s financial instruments recorded at fair value on a recurring basis at March 31, 2026, and December 31, 2025 include the derivative liability associated with the contingent milestone payment due to Knight upon a future sale of Arakoda or a Change of Control, which is carried at fair value based on Level 3 inputs. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment using significant inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. See Note 8 for more information on Derivative Liabilities. <div style="-aw-sdt-tag:'PG_c0c20bca974f854c1494'"></div><div style="-aw-sdt-tag:'ce01f1bed3993d32f2f9'">Liabilities measured at fair value at March 31, 2026 and December 31, 2025 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'298-a60-e6e-2e7-5d61'">March 31, 2026</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 1</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 2</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 3</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Total</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Liabilities:</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff">Derivative Liabilities</td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Total</td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'">Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'">Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">374,741</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'">Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">374,741</div></td></tr></tbody></table></div></div> There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. A rollforward of liabilities measured at fair value using Level 3 inputs for the three months ended March 31, 2026 and 2025 is presented in Note 8 – Derivative Liabilities.

Liabilities measured at fair value at March 31, 2026 and December 31, 2025 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'298-a60-e6e-2e7-5d61'">March 31, 2026</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 1</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 2</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Level 3</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle">Total</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Liabilities:</td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff">Derivative Liabilities</td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff">379,308</td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff">Total</td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff">379,308</td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'">Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'">Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">374,741</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'">Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">374,741</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">374,741</div></td></tr></tbody></table></div>

379308

374741

Exchange rates along with historical rates used in these financial statements are as follows: <div style="-aw-sdt-tag:'549-6dd-c75-531-a655'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T3'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:12.75pt"><td style="width:56%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'60c-d55-76d-e8a-a396'">Average Exchange Rate</div></td></tr><tr style="height:12.75pt"><td style="width:56%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_659f3565fccf471d885d5bbcc6f23513'">Three Months Ended March 31,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><div style="-aw-sdt-tag:'37b-261-e48-9cf-3106'">As of</div></td></tr><tr style="height:12.75pt"><td style="width:56%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_973ee19447724c17b71b4faa457b2249'">Currency</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_e3e1c97c5b854e929dfeef87960bfbc4'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_91424ca5026c4cce945405cc6ea74a81'">2025</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'afe-3a0-938-3ed-cbca'">March 31, 2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:1.45pt; padding-left:1.45pt; vertical-align:bottom"><div style="-aw-sdt-tag:'c53-fa5-4a8-59d-1265'">December 31, 2025</div></td></tr><tr style="height:12.75pt"><td style="width:56%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'368-46b-123-d37-b5a5'">1 AUD =</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'a5c-2eb-1da-374-8aea'">0.69</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'da2-0d6-e27-838-eeb1'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'3f7-a43-9a9-075-de50'">0.63</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'1f8-a08-9c1-f3c-cb64'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'57a-0f0-ce5-00c-7fc7'">0.69</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'48e-ab2-720-6ef-15f0'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'87c-de0-eaf-e1e-7f0f'">0.67</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'629-6ab-ad5-5d0-56fd'">USD</div></td></tr></tbody></table></div>

0.69 0.63

0.69

0.67

1:5

1:4

Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.

3. INVENTORY <div style="-aw-sdt-tag:'c4b64ef482d85585ddef'">Inventory consists of the following major classes: <div style="-aw-sdt-tag:'c3ad763587e21d5ec175'; -aw-sdt-title:'INVENTORY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; margin-right:auto; margin-left:auto; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'6e6-85f-f60-6fd-3105'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'b5a-9bb-34d-32f-60fa'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9f6e148ddfbd43bd85c0bd773b3ebd5b'">Raw Material (API)</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_00a19566ed1c43f99c98897b148d8d2a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f16c7a3406eb4165a5632f4b2432cc52'">75,662</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_97a890fb4676459799df39011e8dd53c'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab71897d07ac40d28dfd83405a9dfafe'">75,662</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_aeef74c84e0f4d1f96536ddc357d7064'">Work in Process</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6a3655bdab5d48dd86ca61227681b415'">113,414</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ef00ca8ecef947d48a2392dce651f727'">446,957</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d5d56b1ac61047c8bb2cd738f043bffa'">Finished Goods</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5b0903d97dea4325b613f810a8c5eaf2'">721,527</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_36ca9b2fc2674b1b9e7c5ee6ac7b2cc2'">385,982</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_be61fc4bb0cc4c4ba6288d79409b3e45'">Total Inventory</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_83e5c4c46f15469f98bfb74b9c0152cc'">910,603</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a90105c86d004c7988263596647fb77a'">908,601</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4beb2619f3b64a17be38dcd2cbe156d3'">Reserve for Expiring Inventory</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_93d116c0bb494287916a99a01a7fd59c'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff">(251,677)</td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_73dc86a2354c42c5af659415f686502c'">Inventory</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_18ec2a0d235e48ca8dccc53077caf073'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_352a37dac1dc493db25e225319ba1514'">910,603</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_14f157594d2f42b2a8d7ac54924f20bb'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'d7b-8b1-5fc-6b2-f7e6'">656,924</div></td></tr></tbody></table></div></div> The Company regularly monitors its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated net realizable value, and records write-downs for inventory that has expired, inventory that has a cost basis in excess of its expected net realizable value, and inventory in excess of expected sales requirements. Any write-downs of inventories are charged to cost of revenues in the consolidated condensed statements of operations and comprehensive loss. During the three months ended March 31, 2026 and 2025, write downs for expired inventory were $3,496 and $35, respectively.

Inventory consists of the following major classes: <div style="-aw-sdt-tag:'c3ad763587e21d5ec175'; -aw-sdt-title:'INVENTORY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; margin-right:auto; margin-left:auto; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'6e6-85f-f60-6fd-3105'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'b5a-9bb-34d-32f-60fa'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9f6e148ddfbd43bd85c0bd773b3ebd5b'">Raw Material (API)</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_00a19566ed1c43f99c98897b148d8d2a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f16c7a3406eb4165a5632f4b2432cc52'">75,662</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_97a890fb4676459799df39011e8dd53c'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab71897d07ac40d28dfd83405a9dfafe'">75,662</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_aeef74c84e0f4d1f96536ddc357d7064'">Work in Process</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6a3655bdab5d48dd86ca61227681b415'">113,414</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ef00ca8ecef947d48a2392dce651f727'">446,957</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d5d56b1ac61047c8bb2cd738f043bffa'">Finished Goods</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5b0903d97dea4325b613f810a8c5eaf2'">721,527</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_36ca9b2fc2674b1b9e7c5ee6ac7b2cc2'">385,982</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_be61fc4bb0cc4c4ba6288d79409b3e45'">Total Inventory</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_83e5c4c46f15469f98bfb74b9c0152cc'">910,603</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a90105c86d004c7988263596647fb77a'">908,601</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4beb2619f3b64a17be38dcd2cbe156d3'">Reserve for Expiring Inventory</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_93d116c0bb494287916a99a01a7fd59c'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff">(251,677)</td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_73dc86a2354c42c5af659415f686502c'">Inventory</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_18ec2a0d235e48ca8dccc53077caf073'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_352a37dac1dc493db25e225319ba1514'">910,603</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_14f157594d2f42b2a8d7ac54924f20bb'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'d7b-8b1-5fc-6b2-f7e6'">656,924</div></td></tr></tbody></table></div>

75662

113414

446957

721527

385982

910603

908601

251677

910603

656924

3496

4. PROPERTY AND EQUIPMENT <div style="-aw-sdt-tag:'c3328980f611b2c2c18e'">Property and Equipment, net consists of: <div style="-aw-sdt-tag:'c585e2b6503490e35b6e'; -aw-sdt-title:'PROPERTY AND EQUIPMENT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'bcf-7a4-b38-f61-94fe'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'94c-21c-e0f-243-2c96'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_210216e127fe482781b410d7ec74a0b8'">Lab Equipment</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_53af035c51d0478aa394754c413e6ffb'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9328eadfcc594ac596b0acc136f7b8f0'">396,791</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e940a18328bb4ad9bea7def38d0d559f'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2329b86c972f422ba404be9dd3277495'">366,791</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0319c462920c42afa0d3176c000bd9f7'">Machinery</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ef8d24443e6e4e8cb5980f37db5e774c'">55,800</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c8ff641cd4744c44a8ca4ea45f4e85c8'">55,800</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_6249934fa3de4adaa792e486a851badc'">Computer Equipment</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_aca3f556efe04148b984c56098021a99'">11,598</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_a531e0c254db4110ad34d073164553f9'">11,598</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_aebc173cb2c8413fa5fcf35341f8657a'">Furniture</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b504fb680d844731bb0cd3fabd739eac'">3,030</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6e01e63464c941e29d2034653b8107e5'">3,030</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_8a33d8c7b8f447cf9991bc44f6e506d2'">Property and Equipment, at cost</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_7e9128e9f9104afc873f970c6a9135ce'">467,219</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_0083050d4387424b9262c3e3b6a9fee5'">437,219</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b6b62697f29548dbaf51d4cf72f0c5f7'">Accumulated Depreciation</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff">(207,554)</td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff">(190,854)</td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_11c099461546454a8d4b17afa85db567'">Property and Equipment, net</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_e7ec042f6b194d6a858be22c9a1b091a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_2faa5c0453e4450596c4956cffc1df1e'">259,665</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_05cfb6f1de00493d99ff10680b286a1a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_519d7c2bff0c454799f8e791a58c7103'">246,365</div></td></tr></tbody></table></div></div> Depreciation expense for the three months ended March 31, 2026 and 2025 was in the amount of $16,700 and $6,694, respectively.

Property and Equipment, net consists of: <div style="-aw-sdt-tag:'c585e2b6503490e35b6e'; -aw-sdt-title:'PROPERTY AND EQUIPMENT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'bcf-7a4-b38-f61-94fe'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'94c-21c-e0f-243-2c96'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_210216e127fe482781b410d7ec74a0b8'">Lab Equipment</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_53af035c51d0478aa394754c413e6ffb'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9328eadfcc594ac596b0acc136f7b8f0'">396,791</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e940a18328bb4ad9bea7def38d0d559f'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2329b86c972f422ba404be9dd3277495'">366,791</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0319c462920c42afa0d3176c000bd9f7'">Machinery</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ef8d24443e6e4e8cb5980f37db5e774c'">55,800</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c8ff641cd4744c44a8ca4ea45f4e85c8'">55,800</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_6249934fa3de4adaa792e486a851badc'">Computer Equipment</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_aca3f556efe04148b984c56098021a99'">11,598</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_a531e0c254db4110ad34d073164553f9'">11,598</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_aebc173cb2c8413fa5fcf35341f8657a'">Furniture</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b504fb680d844731bb0cd3fabd739eac'">3,030</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6e01e63464c941e29d2034653b8107e5'">3,030</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_8a33d8c7b8f447cf9991bc44f6e506d2'">Property and Equipment, at cost</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_7e9128e9f9104afc873f970c6a9135ce'">467,219</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_0083050d4387424b9262c3e3b6a9fee5'">437,219</div></td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b6b62697f29548dbaf51d4cf72f0c5f7'">Accumulated Depreciation</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff">(207,554)</td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff">(190,854)</td></tr><tr style="height:11.5pt"><td style="width:75%; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_11c099461546454a8d4b17afa85db567'">Property and Equipment, net</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_e7ec042f6b194d6a858be22c9a1b091a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_2faa5c0453e4450596c4956cffc1df1e'">259,665</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_05cfb6f1de00493d99ff10680b286a1a'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#ccecff"><div style="-aw-sdt-tag:'C_519d7c2bff0c454799f8e791a58c7103'">246,365</div></td></tr></tbody></table></div>

396791

366791

55800

11598

3030

467219

437219

207554

190854

259665

246365

16700

6694

5. INTANGIBLE ASSETS <div style="-aw-sdt-tag:'ce139b5a70e6301672f2'">Intangible Assets, net consists of: <div style="-aw-sdt-tag:'c07707b83cb3f173b9aa'; -aw-sdt-title:'INTANGIBLE ASSETS T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'a8d-e3e-cef-e72-3589'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'e78-152-04b-7d1-feb6'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a974f35cc65443269ff066743129189d'">Patents</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d202bcb88b044d028a4bbb28f6a6e8b0'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11b78614bac54ef0a49e4b893a15b1d0'">224,004</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_51a78629619a4b75ba95f8f8f4f7ec7b'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_860e11faa60f4e3cb17c35e447e6d321'">207,428</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_f612ea6912ea4de8936ab11fa94001b2'">Website Development Costs</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_bd5beeeb98654d3cb378b1f150cf237e'">143,062</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_0297394f2e174985a9011e14c17a1c32'">131,622</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_69283753d7194d8481cb58344618da62'">Intangible Assets, at cost</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_67428270244741e190f4ba5b6f6c89a4'">367,066</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ce68356243274a62b8341406f23e7284'">339,050</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_5ec84ad9cbbb4a728206c96fd6d9a6ac'">Accumulated Amortization</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">(123,854)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">(114,689)</td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_609bae755e8b4231bb1d4b943acee2ff'">Intangible Assets, net</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_bbacba70555c4d44a3ed2b95ac3cb5f3'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_2fda802cc17945c78daa21dc34cb0e8e'">243,212</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_0f46f04104944ac794c1fcc3501b0184'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_01b52cfeb567443aae2cc897f6e6903c'">224,361</div></td></tr></tbody></table></div></div> During the three months ended March 31, 2026 and 2025, the Company capitalized website development related costs of $11,440 and $0, respectively, in connection with the upgrade and enhancement of functionality of the corporate website at www.60degreespharma.com. Amortization expense for the three months ended March 31, 2026 and 2025, was in the amount of $9,165 and $10,103, respectively. During the three months ended March 31, 2026 and 2025 there were no write-downs for expired or obsolete patents. <div style="-aw-sdt-tag:'c3bc236d7ffc1c5b8cde'">The following table summarizes the estimated future amortization expense for our patents and website development costs as of March 31, 2026: <div style="-aw-sdt-tag:'c0f2fdd191b23a42f69c'; -aw-sdt-title:'INTANGIBLE ASSETS T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_174dcc19aadc45dcbec245e8e5590546'">Period</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_2b4fd151a35e427f81944ed4aef3cd03'">Patents</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_eac02702a1b6481292e04477eabff1f5'">Website Development Costs</div></td></tr><tr style="height:11.5pt"><td style="width:74%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'8e5-da0-b7a-c95-58f3'">2026 (remaining nine months)</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'ead-8b9-efd-ea1-3d83'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'cdb-2c5-8cc-17f-3610'">5,550</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'fe5-ddc-fb9-614-b800'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'697-741-561-7c7-ff2a'">17,663</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_4130c067c39a40829ddaa2a81e97ae4b'">2027</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_4d3a475d713840deb210ba44e18e1f33'">7,400</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; vertical-align:middle"><div style="-aw-sdt-tag:'a74-90f-543-ee7-91a3'">15,467</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_313ade7de15848e1805861fa9d495eb2'">2028</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9a518cad7b5f4600b17899e4df170f7e'">7,400</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5fd36d2d7338473a98e0eaca4c3bb72e'">11,358</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_faf1ce39ee004fdbacf45816b0cd8e1b'">2029</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'a6e-3ed-5a2-d23-2090'">7,400</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba37da8a5d21434286c58831bdac112f'">282</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_98ee970e69c748c69cc8bbd0ed8e7995'">2030</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1dbfcb6bede14893b1d590e5550007a7'">7,400</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4124ac0cb341498b8445cea7bd35d757'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_a93ca8f84d704c2685aef38dd6e616fb'">Thereafter</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_6321783027ee42c18b71f36dd0941a2f'">31,780</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_257cb67d346b4113ac890add634412f6'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d7c76dd6b9cc422d8a6b884dacaa3365'">Total</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_75767eb28a1d449ab596ff84732f7256'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2ee72c55a7204d64a57ac09c73611a03'">66,930</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6779a62c90a14cb8b35f588ce92d9296'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'e65-d56-30f-2c3-e9f3'">44,770</div></td></tr></tbody></table></div></div> The Company has recorded $131,512 in capitalized patent expenses that will become amortizable as the patents they are associated with are awarded.

Intangible Assets, net consists of: <div style="-aw-sdt-tag:'c07707b83cb3f173b9aa'; -aw-sdt-title:'INTANGIBLE ASSETS T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'a8d-e3e-cef-e72-3589'">March 31, 2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'e78-152-04b-7d1-feb6'">December 31, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a974f35cc65443269ff066743129189d'">Patents</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d202bcb88b044d028a4bbb28f6a6e8b0'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11b78614bac54ef0a49e4b893a15b1d0'">224,004</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_51a78629619a4b75ba95f8f8f4f7ec7b'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_860e11faa60f4e3cb17c35e447e6d321'">207,428</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_f612ea6912ea4de8936ab11fa94001b2'">Website Development Costs</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_bd5beeeb98654d3cb378b1f150cf237e'">143,062</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_0297394f2e174985a9011e14c17a1c32'">131,622</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_69283753d7194d8481cb58344618da62'">Intangible Assets, at cost</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_67428270244741e190f4ba5b6f6c89a4'">367,066</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ce68356243274a62b8341406f23e7284'">339,050</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_5ec84ad9cbbb4a728206c96fd6d9a6ac'">Accumulated Amortization</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">(123,854)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">(114,689)</td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_609bae755e8b4231bb1d4b943acee2ff'">Intangible Assets, net</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_bbacba70555c4d44a3ed2b95ac3cb5f3'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_2fda802cc17945c78daa21dc34cb0e8e'">243,212</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_0f46f04104944ac794c1fcc3501b0184'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_01b52cfeb567443aae2cc897f6e6903c'">224,361</div></td></tr></tbody></table></div>

224004

207428

143062 131622

367066

339050

123854

114689

243212

224361

11440 0

9165

10103

0 0

The following table summarizes the estimated future amortization expense for our patents and website development costs as of March 31, 2026: <div style="-aw-sdt-tag:'c0f2fdd191b23a42f69c'; -aw-sdt-title:'INTANGIBLE ASSETS T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_174dcc19aadc45dcbec245e8e5590546'">Period</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_2b4fd151a35e427f81944ed4aef3cd03'">Patents</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_eac02702a1b6481292e04477eabff1f5'">Website Development Costs</div></td></tr><tr style="height:11.5pt"><td style="width:74%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'8e5-da0-b7a-c95-58f3'">2026 (remaining nine months)</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'ead-8b9-efd-ea1-3d83'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'cdb-2c5-8cc-17f-3610'">5,550</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'fe5-ddc-fb9-614-b800'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'697-741-561-7c7-ff2a'">17,663</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_4130c067c39a40829ddaa2a81e97ae4b'">2027</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_4d3a475d713840deb210ba44e18e1f33'">7,400</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; vertical-align:middle"><div style="-aw-sdt-tag:'a74-90f-543-ee7-91a3'">15,467</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_313ade7de15848e1805861fa9d495eb2'">2028</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9a518cad7b5f4600b17899e4df170f7e'">7,400</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5fd36d2d7338473a98e0eaca4c3bb72e'">11,358</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_faf1ce39ee004fdbacf45816b0cd8e1b'">2029</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'a6e-3ed-5a2-d23-2090'">7,400</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:11%; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba37da8a5d21434286c58831bdac112f'">282</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_98ee970e69c748c69cc8bbd0ed8e7995'">2030</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1dbfcb6bede14893b1d590e5550007a7'">7,400</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:11%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4124ac0cb341498b8445cea7bd35d757'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle"><div style="-aw-sdt-tag:'C_a93ca8f84d704c2685aef38dd6e616fb'">Thereafter</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_6321783027ee42c18b71f36dd0941a2f'">31,780</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_257cb67d346b4113ac890add634412f6'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d7c76dd6b9cc422d8a6b884dacaa3365'">Total</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_75767eb28a1d449ab596ff84732f7256'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2ee72c55a7204d64a57ac09c73611a03'">66,930</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6779a62c90a14cb8b35f588ce92d9296'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'e65-d56-30f-2c3-e9f3'">44,770</div></td></tr></tbody></table></div>

5550

17663

7400

15467

7400

11358

7400

282

7400

31780

66930

44770

131512

6. STOCKHOLDERS’ EQUITY Pursuant to the Certificate of Incorporation of 60 Degrees Pharmaceuticals, Inc., the Company’s authorized shares consist of (a) 150,000,000 shares of common stock, par value $0.0001 per share and (b) 1,000,000 shares of preferred stock, par value $0.0001 per share, of which 80,965 have been designated as Series A Non-Voting Convertible Preferred Stock (“Series A Preferred Stock”). As of March 31, 2026, 2,636,788 shares of Common Stock and 76,480 shares of Series A Preferred Stock are issued and outstanding. Following stockholder approval in November 2024, on February 18, 2025, the Company filed an Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:5 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of February 24, 2025. As of the effective time of the 1:5 Reverse Stock Split, every five (5) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 7,364,554 shares to 1,472,891 shares (not including the effects of the 1:4 Reverse Stock Split discussed below). No fractional shares of common stock were issued in connection with the 1:5 Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. Following stockholder approval in October 2025, on January 14, 2026, the Company filed an additional Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:4 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of January 20, 2026. As of the effective time of the 1:4 Reverse Stock Split, every four (4) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from 5,436,441 shares to 1,359,091 shares. No fractional shares of common stock were issued in connection with the 1:4 Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. The Reverse Stock Splits did not change the authorized number of shares of common stock or preferred stock, the par value of the common stock, or the number of issued and outstanding shares of Series A Preferred Stock. All references to numbers of shares of the Company’s common stock and per share information in these consolidated condensed financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital. Common Stock January 2025 Offering On January 28, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 51,079 shares of common stock at a purchase price of $20.42 per share. The shares were offered pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-280796). In a concurrent private placement, the Company also issued to the investors unregistered warrants (the “January 2025 Warrants”) to purchase up to an aggregate of 102,158 shares of common stock at an exercise price of $15.42 per share. The January 2025 Warrants are exercisable upon issuance, or January 30, 2025, and expire twenty-four months from the date of issuance, or January 30, 2027. The registered direct offering and concurrent private placement (together, the “January 2025 Offering”) closed on January 30, 2025, resulting in net proceeds to the Company of approximately $804,346, after deducting the placement agent fees and other offering expenses paid by the Company. As compensation for acting as the placement agent for the January 2025 Offering, in addition to certain cash fees, the Company issued H.C. Wainwright & Co., LLC (the “Placement Agent”) warrants to purchase up to 3,833 shares of common stock at an exercise price of $25.53 (the “January 2025 Agent Warrants”). The January 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance. February 2025 Offering On February 5, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 75,176 shares of the Company’s common stock at a purchase price of $14.30 per share. In a concurrent private placement, the Company separately issued to the investors unregistered warrants to purchase up to an aggregate of 75,176 shares of common stock at an exercise price of $11.80 per share (the “February 2025 Warrants”). The February 2025 Warrants were immediately exercisable upon issuance and expire twenty-four months from the date of issuance. The registered direct offering and concurrent private placement (together, the “February 2025 Offering”) closed on February 6, 2025, resulting in net proceeds to the Company of approximately $908,627, after deducting the placement agent fees and other offering expenses paid by the Company. As compensation for acting as the placement agent for the February 2025 Offering, in addition to certain cash fees, the Company issued the Placement Agent warrants to purchase up to 5,640 shares of common stock at an exercise price of $17.88 (the “February 2025 Agent Warrants”). The February 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance. <div style="-aw-sdt-tag:'PG_2017f07b2068a3b0'"></div>2025 ATM Agreement On September 5, 2025, the Company entered into an At-The-Market Sales Agreement (the “2025 ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) pursuant to which the Company was permitted offer and sell shares of its common stock from time to time for aggregate gross sales proceeds of up to $1,397,532 (the “2025 ATM Offering”). As compensation for acting as the sales agent for the 2025 ATM Offering, Wainwright was entitled to a commission of 3.0% of the gross proceeds from sales of shares in the 2025 ATM Offering. The common stock sold under the 2025 ATM Agreement was issued and sold pursuant to the Company’s shelf registration statement on Form S-3 and accompanying base prospectus (Registration Statement No. 333-280796), which was declared effective by the SEC on July 18, 2024, and a prospectus supplement dated September 5, 2025, relating to the offer and sale of the shares pursuant to the 2025 ATM Agreement. Pursuant to the 2025 ATM Agreement, between January 1, 2026 and January 22, 2026, the Company sold an aggregate of 418,602 shares at a weighted average price per share of $2.07, generating net proceeds to the Company of $834,705, after deducting commissions and certain other offering expenses. 2026 ATM Prospectus Supplement On March 2, 2026, the Company filed a prospectus supplement pursuant to Rule 424(b)(5), updating the amount it was permitted to offer and sell under the 2025 ATM Agreement to allow for additional gross sales proceeds of $1,308,000 (the “2026 ATM Prospectus Supplement”). The 2026 ATM Prospectus Supplement was subsequently amended on March 11, 2026 and March 13, 2026, to increase the maximum aggregate offering price by $981,000 and $565,000, respectively (the “2026 ATM Prospectus Supplement Amendments,” and together with the 2026 ATM Prospectus Supplement the “2026 ATM Offering”). As compensation for acting as the sales agent for the 2026 ATM Offering, Wainwright was entitled to a commission of 3.0% of the gross proceeds from the sales of shares in the 2026 ATM Offering. The common stock sold pursuant to the 2026 ATM Prospectus Supplement was issued and sold pursuant to the Company’s shelf registration statement on Form S-3 and accompanying base prospectus (Registration Statement No. 333-280796), which was declared effective by the SEC on July 18, 2024, the prospectus supplement dated September 5, 2025, and the 2026 ATM Prospectus Supplement relating to the offer and sale of the shares pursuant to the 2025 ATM Agreement. Between March 2, 2026 and March 25, 2026, the Company sold an aggregate of 1,055,106 shares at a weighted average price per share of $2.49 generating net proceeds to the Company of $2,535,047, after deducting commissions and certain other offering expenses. Due to the decline in the Company’s stock price, as of March 31, 2026, the Company did not have available capacity to sell additional shares under the 2025 ATM Agreement and related prospectus supplements based on the limitations of General Instruction I.B.6 of Form S-3, which restricts the aggregate market value of securities the Company may sell during any 12-month period to one-third of its public float. The Company’s ability to resume sales under the 2025 ATM Agreement and related prospectus supplements will depend on future increases in the Company’s stock price or the passage of time such that prior sales are no longer counted within the trailing 12-month measurement period. Warrant Exercises During the three months ended March 31, 2026 and 2025 the Company issued 0 and 96,300 shares of common stock upon the exercise of 0 and 96,300 pre-funded warrants, respectively, resulting in proceeds to the Company of $0 and $1,926, respectively. <div style="-aw-sdt-tag:'PG_a7f01dc4d6011bf0'"></div>Common Stock Warrants As of March 31, 2026, the Company accounts for all issued and outstanding warrants to purchase common stock as equity-classified instruments based on the guidance in ASC 480 and ASC 815. <div style="-aw-sdt-tag:'0b9-32d-758-bbb-7d61'">The following table presents a summary of the activity for the Company’s equity-classified warrants during the three months ended March 31, 2026: <div style="-aw-sdt-tag:'c03fb2d1c9552e699f9f'; -aw-sdt-title:'STOCKHOLDERS EQUITY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:51pt"><td style="width:65.32%; vertical-align:bottom"> </td><td style="width:1.02%; vertical-align:bottom"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_255042d0e6a541a388b409c03b69aa6a'">Number of Warrants</div></td><td style="width:1.02%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_1d3baab02d8c401b900003c44b2c7c3f'">Weighted Average Exercise Price</div></td><td style="width:1.02%; vertical-align:bottom"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_d9d36dc13cae43cf8b651c83ff0751cb'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:5.7pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0df67d8471e9467a89ff88e0439581e5'">Total outstanding, December 31, 2025</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_cfd86fffd9a24a8681860699bbc5835a'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_018f691c6c554fcd9f2ea902cef36ea6'">$</div></td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_401143ee48e043d3b3536cd6cdf9c432'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_b26821ca78ac44ef92c209c2bc9c966d'"> 2.57</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_56484066bcc74bf8b3793fd9b87e4059'">Granted</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1e370c5c9b7142789405b4714e344dcf'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_49bb5b90dc4242be96236f035345724d'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a636cf72eae548238b35fe47161c70e0'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_092740af605f4bc4a7ada8bdf5055958'">Exercised</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_be464264c8194207a861f4cab206040c'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_96b027d191d3489eb4634d84c32b33bb'">Forfeited</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ebc58888ed7e443eb0bed3fbb4e296cd'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1cbf9c8fae99456bb1db09f419f10e3b'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_023e956011684a2e8efc0a2c95e7aafa'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_3a9cd327c03648eabee6def9efeb8a16'">Expired</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1b9506549baa4d28b730114acf607f9d'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:2.1pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_940a2249f6b3409bbd4cf1fd3bfef304'">Total outstanding, March 31, 2026</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_dc623020fea849eba11ebc4bfb2db46b'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_4a782ea234b64abda040b2705b8054db'">$</div></td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6c6bbe87d4d04a50ba3802b29e13ca71'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_13fb13eaf08b49a2b57074280816ad0b'">2.32</div></td></tr><tr style="height:1pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d51b62342edd4404956c0bf1cb0b2079'">Total exercisable, March 31, 2026</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7b1ea82a944942ceb4546250d540a297'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f6c5be1b8d51432b8279c89401af163b'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28a537d0722b41f7ba4474c4041f1592'">2.32</div></td></tr></tbody></table></div> The following table presents a summary of the activity for the Company’s equity-classified warrants during the three months ended March 31, 2025: <div style="-aw-sdt-tag:'5ef-bd1-660-949-dac4'; -aw-sdt-title:'STOCKHOLDERS EQUITY T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:66pt"><td style="width:66%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_2fe24833a44b41479778dfa15ea39d75'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_f18fecd537364a0f93431550cd6beb89'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_46e2237dbc934f6b9426112c9d46cff7'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3159a48c35a441588285bc5f08adbb5'">Total outstanding, December 31, 2024(1)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_26c6e8ba5c4f437b898bce96847ea990'">441,277</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7932e86b6155416a856e4b9e3135e6a0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1e1cfe2fee02428fb18bed385db26f5b'">70.37</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0fdf3faee9384a09b6fb1053d73cd117'">3.26</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_d2f19f5220f34a67a6cf0ad536ecceaf'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ca72a78fc17a4df2b8b050de41cb1fb2'">186,807</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_03da05c614d4494ab5a425272003c87d'">14.24</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1e23442a8f184d09a6640f316b286c13'">2.00</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5bc3ca100224454db31571d2f7b1902d'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">(96,300)</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6653a7d365a745d882b7652b6ee003cf'">0.02</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d11cc3479bef4b49bb34a26fb81a3dab'"> Indefinite </div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_036865088ae34687ad76ec0118f6c13a'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0b98733a323540198451b82d59cb06fc'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b095fd6b9be94bbc8c5bffe34783b7e9'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_62e43591234846379c4d980c1b569ce5'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ed4f3a89e25f4188a6c83db8976197d5'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3ce5466c2be49d1857c06466db44631'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_dfdbdd8338f8414d8f83aae99237906a'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fe44fba7b4ea4e7aa0021a9bccd19da2'">-</div></td></tr><tr style="height:3.45pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_3d817872bae142abb1bdde9aec1609a3'">Total outstanding, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c163a2b7f7f04b69b4d13a118cc458f9'">531,784</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_2b8349367e4e49bd8341592d5d525a88'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f13c7faf7831462aab2cb911bc2f0dd6'">63.39</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0005a1e335884fc7ac7b8d95109bce26'"> 2.60</div></td></tr><tr style="height:4.05pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_db4c1fd8ae924d69b46bdc6baf2841b1'">Total exercisable, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_8f538a18dc5c4b0789915e07028c8a3b'">531,784</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_b445e814ada34f288326ca954e930c27'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e1118852385841f19496c5a949e0e0bb'">63.39</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'a4f-f6d-3a4-587-6f95'"> 2.60</div></td></tr></tbody></table></div> <table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:3.3%; vertical-align:top">(1)</td><td style="width:96.7%; vertical-align:top">Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025.</td></tr></tbody></table></div> <div style="-aw-sdt-tag:'PG_c093876e3a43e140a243'"></div>Series A Preferred Stock The holders of shares of Series A Preferred Stock have the rights, preferences, powers, restrictions, and limitations as set forth below. Voting Rights - The holders of shares of Series A Preferred Stock are not entitled to any voting rights. Dividends - From and after the date of issuance of any share of Series A Preferred Stock, cumulative dividends shall accrue, whether or not declared by the Board and whether or not there are funds legally available for the payment of dividends, on a daily basis in arrears at the rate of 6.0% per annum on the sum of the Liquidation Value (as defined below). Accrued dividends shall be paid in cash only when, as and if declared by the Board out of funds legally available therefor or upon a liquidation or redemption of the Series A Preferred Stock. On March 31 of each calendar year, any accrued and unpaid dividends shall accumulate and compound on such date, and are cumulative until paid or converted. Holders of shares of Series A Preferred Stock are entitled to receive accrued and accumulated dividends prior to and in preference to any dividend, distribution, or redemption on shares of Common Stock or any other class of securities that is designated as junior to the Series A Preferred Stock. During the three months ended March 31, 2026, dividends in the amount of $125,312 accrued on outstanding shares of Series A Preferred Stock ($118,158 during the three months ended March 31, 2025). As of March 31, 2026, cumulative dividends on outstanding shares of Series A Preferred Stock amount to $1,330,383. To date, the Company has not declared or paid any dividends. Liquidation Rights - In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series A Preferred Stock then outstanding will share ratably in any distribution of the remaining assets and funds of the Company with all other stockholders as if each share of Series A Preferred Stock had been converted by the Company to Common Stock as described below. Conversion Rights - The Company has the right, in its sole discretion, to convert all or any portion of the outstanding shares of Series A Preferred Stock (including any fraction of a share), plus the aggregate accrued or accumulated and unpaid dividends thereon into a number of shares of Common Stock determined by (i) multiplying the number of shares to be converted by $100 per share, as adjusted for any stock splits, stock dividends, recapitalizations or similar transactions with respect to the Series A Preferred Stock (but unchanged as a result of the Reverse Stock Splits impacting the Company’s common stock) (the “Liquidation Value”), (ii) plus all accrued and accumulated and unpaid dividends on such shares to be converted, and then (ii) dividing the result by the then-effective Conversion Price in effect, provided that such conversion would not result in the holders of shares of Series A Preferred Stock owning more than 19.9% of the outstanding shares of common stock on an as-converted basis. The “Conversion Price” is equal to the lesser of (a) the Liquidation Value, (b) the offering price per share of Common Stock in the Company’s IPO, or $1,200 per share (as adjusted for the Reverse Stock Splits) or (c) the 10-day volume weighted average price per share of Common Stock, as reasonably determined by the Company.

150000000

0.0001

1000000

0.0001

80965

2636788

76480

1:5

7364554

1472891

1:4

1:5

1:4

5436441

1359091

1:4

51079

20.42

102158

15.42

2025-01-30

804346

3833

25.53

75176

14.3

75176

11.8

908627

5640

17.88

1397532 0.03 418602

2.07

834705 1308000 981000 565000 0.03 1055106

2.49

2535047 0 96300 0 96300 0 1926

The following table presents a summary of the activity for the Company’s equity-classified warrants during the three months ended March 31, 2026: <div style="-aw-sdt-tag:'c03fb2d1c9552e699f9f'; -aw-sdt-title:'STOCKHOLDERS EQUITY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:51pt"><td style="width:65.32%; vertical-align:bottom"> </td><td style="width:1.02%; vertical-align:bottom"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_255042d0e6a541a388b409c03b69aa6a'">Number of Warrants</div></td><td style="width:1.02%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_1d3baab02d8c401b900003c44b2c7c3f'">Weighted Average Exercise Price</div></td><td style="width:1.02%; vertical-align:bottom"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_d9d36dc13cae43cf8b651c83ff0751cb'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:5.7pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0df67d8471e9467a89ff88e0439581e5'">Total outstanding, December 31, 2025</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_cfd86fffd9a24a8681860699bbc5835a'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_018f691c6c554fcd9f2ea902cef36ea6'">$</div></td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_401143ee48e043d3b3536cd6cdf9c432'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_b26821ca78ac44ef92c209c2bc9c966d'"> 2.57</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_56484066bcc74bf8b3793fd9b87e4059'">Granted</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1e370c5c9b7142789405b4714e344dcf'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_49bb5b90dc4242be96236f035345724d'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a636cf72eae548238b35fe47161c70e0'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_092740af605f4bc4a7ada8bdf5055958'">Exercised</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_be464264c8194207a861f4cab206040c'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_96b027d191d3489eb4634d84c32b33bb'">Forfeited</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ebc58888ed7e443eb0bed3fbb4e296cd'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1cbf9c8fae99456bb1db09f419f10e3b'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_023e956011684a2e8efc0a2c95e7aafa'">-</div></td></tr><tr style="height:12.75pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_3a9cd327c03648eabee6def9efeb8a16'">Expired</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1b9506549baa4d28b730114acf607f9d'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:2.1pt"><td style="width:65.32%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_940a2249f6b3409bbd4cf1fd3bfef304'">Total outstanding, March 31, 2026</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_dc623020fea849eba11ebc4bfb2db46b'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1.02%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_4a782ea234b64abda040b2705b8054db'">$</div></td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_6c6bbe87d4d04a50ba3802b29e13ca71'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10.2%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_13fb13eaf08b49a2b57074280816ad0b'">2.32</div></td></tr><tr style="height:1pt"><td style="width:65.32%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d51b62342edd4404956c0bf1cb0b2079'">Total exercisable, March 31, 2026</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7b1ea82a944942ceb4546250d540a297'">1,896,928</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1.02%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f6c5be1b8d51432b8279c89401af163b'">23.29</div></td><td style="width:1.02%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10.2%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28a537d0722b41f7ba4474c4041f1592'">2.32</div></td></tr></tbody></table></div> The following table presents a summary of the activity for the Company’s equity-classified warrants during the three months ended March 31, 2025: <div style="-aw-sdt-tag:'5ef-bd1-660-949-dac4'; -aw-sdt-title:'STOCKHOLDERS EQUITY T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:66pt"><td style="width:66%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_2fe24833a44b41479778dfa15ea39d75'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_f18fecd537364a0f93431550cd6beb89'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_46e2237dbc934f6b9426112c9d46cff7'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3159a48c35a441588285bc5f08adbb5'">Total outstanding, December 31, 2024(1)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_26c6e8ba5c4f437b898bce96847ea990'">441,277</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7932e86b6155416a856e4b9e3135e6a0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1e1cfe2fee02428fb18bed385db26f5b'">70.37</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0fdf3faee9384a09b6fb1053d73cd117'">3.26</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_d2f19f5220f34a67a6cf0ad536ecceaf'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ca72a78fc17a4df2b8b050de41cb1fb2'">186,807</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_03da05c614d4494ab5a425272003c87d'">14.24</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1e23442a8f184d09a6640f316b286c13'">2.00</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5bc3ca100224454db31571d2f7b1902d'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">(96,300)</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6653a7d365a745d882b7652b6ee003cf'">0.02</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_d11cc3479bef4b49bb34a26fb81a3dab'"> Indefinite </div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_036865088ae34687ad76ec0118f6c13a'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0b98733a323540198451b82d59cb06fc'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b095fd6b9be94bbc8c5bffe34783b7e9'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_62e43591234846379c4d980c1b569ce5'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ed4f3a89e25f4188a6c83db8976197d5'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3ce5466c2be49d1857c06466db44631'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_dfdbdd8338f8414d8f83aae99237906a'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fe44fba7b4ea4e7aa0021a9bccd19da2'">-</div></td></tr><tr style="height:3.45pt"><td style="width:66%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_3d817872bae142abb1bdde9aec1609a3'">Total outstanding, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c163a2b7f7f04b69b4d13a118cc458f9'">531,784</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_2b8349367e4e49bd8341592d5d525a88'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f13c7faf7831462aab2cb911bc2f0dd6'">63.39</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0005a1e335884fc7ac7b8d95109bce26'"> 2.60</div></td></tr><tr style="height:4.05pt"><td style="width:66%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_db4c1fd8ae924d69b46bdc6baf2841b1'">Total exercisable, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_8f538a18dc5c4b0789915e07028c8a3b'">531,784</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_b445e814ada34f288326ca954e930c27'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e1118852385841f19496c5a949e0e0bb'">63.39</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'a4f-f6d-3a4-587-6f95'"> 2.60</div></td></tr></tbody></table></div> <table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:3.3%; vertical-align:top">(1)</td><td style="width:96.7%; vertical-align:top">Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025.</td></tr></tbody></table>

1896928

23.29

P2Y6M25D

1896928

23.29

P2Y3M25D 1896928 23.29 P2Y3M25D

441277

70.37

P3Y3M3D

186807

14.24

P2Y -96300 0.02

531784

63.39

P2Y7M6D 531784 63.39 P2Y7M6D

96300

0.06

125312

118158

1330383

100

0.199

1200

7. DEBT On May 14, 2020, the Company received COVID-19 EIDL lending from the U.S. Small Business Administration (SBA) in the amount of $150,000. The loan bears interest at an annual rate of 3.75% calculated on a monthly basis. Monthly payments of $731 were required beginning in November 2022, with a final balloon payment equal to the remaining principal due at the maturity date of October 12, 2050. The balance as of March 31, 2026 and December 31, 2025 was $151,969 and $152,775, respectively. The current maturity at March 31, 2026 is $8,772 and the long-term liability is $143,197 ($8,772 and $144,003 at December 31, 2025, respectively). The loan is collateralized by all tangible and intangible personal property of the Company. The Company is prohibited from accepting future advances under any superior liens on the collateral without the prior consent of SBA. <div style="-aw-sdt-tag:'cd9aa1ed7e4867c19560'">The current future payment obligations of the principal are as follows: <div style="-aw-sdt-tag:'c317e04dae973ecfbe43'; -aw-sdt-title:'DEBT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:87%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5c968b0016b149cfb1f12fa47b1bca41'">Period</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5c764bbf41d64098a324b0fa0eee9c97'">Principal Payments</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'ed5-513-95f-6a2-1d12'">2026 (remaining nine months)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'fed-c05-241-636-b3aa'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'6df-3b8-5ea-212-a348'">403</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_897e8cb5c5764f54bf36adbea961583d'">2027</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:11%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_9e76a127fe434806b75dd7251717545a'">3,216</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bd218f23a8534654beb35d354f005013'">2028</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a641af32d4f142d4896d4e72026bfbf6'">3,323</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5f57e987c26c48cb8368c698d86412c7'">2029</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:11%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b3e786a7693a420dbcb23ba7b9111b35'">3,466</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'6f0-13a-e61-d19-7679'">2030</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'de2-d6d-cca-a5e-1b9f'">3,598</div></td></tr><tr style="height:11.5pt"><td style="width:87%; padding-bottom:1.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_61dc3ec600314411bf83aaf42b0afb2c'">Thereafter</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_d9ea3ec1cd2f4f809bcc21cdbccf2901'">136,024</div></td></tr><tr style="height:1.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5b82b081b0cd4cd7810fcd446de801b1'">Total</div></td><td style="width:1%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0749ec546c48465eb63ec47c309b1dfa'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_cfd83dce046d4d62badcc6025377dc63'">150,030</div></td></tr></tbody></table></div></div>

150000

0.0375

731

2050-10-12

151969

152775

8772

143197

8772

144003

The current future payment obligations of the principal are as follows: <div style="-aw-sdt-tag:'c317e04dae973ecfbe43'; -aw-sdt-title:'DEBT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:87%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5c968b0016b149cfb1f12fa47b1bca41'">Period</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5c764bbf41d64098a324b0fa0eee9c97'">Principal Payments</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'ed5-513-95f-6a2-1d12'">2026 (remaining nine months)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'fed-c05-241-636-b3aa'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'6df-3b8-5ea-212-a348'">403</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_897e8cb5c5764f54bf36adbea961583d'">2027</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:11%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_9e76a127fe434806b75dd7251717545a'">3,216</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bd218f23a8534654beb35d354f005013'">2028</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a641af32d4f142d4896d4e72026bfbf6'">3,323</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_5f57e987c26c48cb8368c698d86412c7'">2029</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:11%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b3e786a7693a420dbcb23ba7b9111b35'">3,466</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'6f0-13a-e61-d19-7679'">2030</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'de2-d6d-cca-a5e-1b9f'">3,598</div></td></tr><tr style="height:11.5pt"><td style="width:87%; padding-bottom:1.75pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_61dc3ec600314411bf83aaf42b0afb2c'">Thereafter</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_d9ea3ec1cd2f4f809bcc21cdbccf2901'">136,024</div></td></tr><tr style="height:1.5pt"><td style="width:87%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5b82b081b0cd4cd7810fcd446de801b1'">Total</div></td><td style="width:1%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0749ec546c48465eb63ec47c309b1dfa'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_cfd83dce046d4d62badcc6025377dc63'">150,030</div></td></tr></tbody></table></div>

403

3216

3323

3466

3598

136024

150030

8. DERIVATIVE LIABILITIES In accordance with the provisions of ASC 815, derivative liabilities are initially measured at fair value at the commitment date and subsequently remeasured at each reporting period, with any increase or decrease in the fair value recorded in the results of operations included within other income (expense), net in the accompanying consolidated condensed statements of operations and comprehensive loss as the change in fair value of derivative liabilities. As of March 31, 2026 and December 31, 2025, derivative liabilities consist of the contingent milestone payment due to Knight Therapeutics, Inc. (“Knight”), a former lender of the Company, as required by the Debt Conversion Agreement executed between the Company and Knight on January 9, 2023, as subsequently amended (the “Knight Debt Conversion Agreement”). Key points of this agreement were as follows: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top">The Parties agreed to fix Knight’s cumulative debt to the value as it stood on March 31, 2022, which consisted of principal and accumulated interest. As a result of the completion of the IPO, the cumulative outstanding principal as of March 31, 2022 converted to 4,619 shares of common stock (representing 19.9% ownership of the Company’s common stock after giving effect to the IPO), and the entirety of the accumulated interest as of March 31, 2022 converted into 80,965 shares of Series A Preferred Stock, in full satisfaction of the Company’s obligations with respect to the outstanding principal and accumulated interest.</td></tr></tbody></table> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top">The Parties agreed that the Company will make a milestone payment of $10 million to Knight if, after the IPO, the Company sells Arakoda™ or if a Change of Control (as per the definition included in the original loan agreement dated on December 10, 2015) occurs, provided that the purchaser of Arakoda™ or individual or entity gaining control of the Borrower is not the Lender or an affiliate of the Lender.</td></tr></tbody></table> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'675-b6d-46f-99f-ad14'">For the period ending upon the earlier of (i) 10 years after the closing of the IPO, or (ii) the conversion or redemption in full of the Series A Preferred Stock, the Company will pay to Knight a royalty equal to 3.5% of the Company’s net sales (the “Royalty”) on a quarterly basis, where “Net Sales” has the same meaning as in the Company’s license agreement with the U.S. Army for tafenoquine.</div></td></tr></tbody></table> Upon consummation of the IPO, the Company concluded that the contingent milestone payment is a freestanding financial instrument that meets the definition of a derivative under ASC 815, and accordingly, the fair value of the derivative liability is marked to market each reporting period until settled. The Royalty due to Knight was determined to be an embedded component of the Series A Preferred Stock, however, is exempt from derivative accounting under the ASC 815 scope exception for specified volumes of sales or service revenues. Therefore, the Company accrues a royalty expense as sales are made. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment. The valuation model uses significant unobservable inputs (Level 3), incorporating management’s assumptions regarding the timing and probability of discrete potential exit scenarios, forward interest rate curves, and a weighted average cost of capital based on implied and market yields to discount expected cash flows. The valuation of the contingent milestone payment requires significant judgment and is sensitive to changes in assumptions related to the expected timing of payment, the likelihood of potential exit scenarios, and the selected discount rate. In developing these assumptions, management considers various qualitative and quantitative factors, including the anticipated progression toward clinical, commercial, and profitability milestones and the potential for a strategic transaction following achievement of each milestone. These factors are evaluated collectively to assess the probability‑weighted timing of the contingent payment under each potential exit scenario reflected in the valuation. As of March 31, 2026 and December 31, 2025, the discount rates applied in the valuation were 13.00% and 12.49%, respectively. Changes in any of the assumptions used in the valuation could result in a materially different fair value measurement and, as a result, could lead to materially different gains or losses recognized consolidated condensed statements of operations and comprehensive loss upon recurring remeasurement. <div style="-aw-sdt-tag:'c06f707a4f647dbf011d'">A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three months ended March 31, 2026: <div style="-aw-sdt-tag:'c6639d815e653fadd5ae'; -aw-sdt-title:'DERIVATIVE LIABILITIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:22.5pt"><td style="width:87%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_fd577863c4914b8ea632e84e6f1d9eec'">Contingent Milestone Payment</div></td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ff0051b243e64116bbf90efbe05a88e3'">Derivative liabilities - December 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'069-cd5-dbb-f5e-1a0e'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'5f1-0f3-c55-8e0-b8b5'">374,741</div></td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle"><div style="-aw-sdt-tag:'987-16b-022-944-739a'">Change in fair value</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">4,567</td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'16a-33e-c0a-7cf-5583'">Derivative liabilities - March 31, 2026</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'f73-24a-790-15a-8cc9'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff">379,308</td></tr></tbody></table></div> A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three months ended March 31, 2025: <div style="-aw-sdt-tag:'1f6-274-06e-324-113a'; -aw-sdt-title:'DERIVATIVE LIABILITIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_9b7bbdd2b0ad450593bb39fcb5204a2d'">Contingent Milestone Payment</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_349fc0c506ae466a8afcdbfdf7eb138c'">Derivative liabilities - December 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e6028efd12ee4fa482ca3e0bf101af8e'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7ab6157566fd406ba29b6922a10b9ec9'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c6bf1ed06ead4adf9f2296394e5d94fe'">Change in fair value</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ebba7a73ac5447149cff86376061747e'">Derivative liabilities - March 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'95d-5f9-dc4-221-eec5'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6c58f57330b54183b08d956ee1ecbd60'">635,725</div></td></tr></tbody></table></div></div> Changes in the fair value of derivative liabilities are included in other income in the accompanying consolidated condensed statements of operations and comprehensive loss. During the three months ended March 31, 2026 and 2025, the Company recorded a net (loss) gain on the change in the fair value of derivative liabilities of $(4,567) and $5,105, respectively.

4619

0.199

80965

10000000

For the period ending upon the earlier of (i) 10 years after the closing of the IPO, or (ii) the conversion or redemption in full of the Series A Preferred Stock, the Company will pay to Knight a royalty equal to 3.5% of the Company’s net sales (the “Royalty”) on a quarterly basis, where “Net Sales” has the same meaning as in the Company’s license agreement with the U.S. Army for tafenoquine.

0.035 0.13 0.1249

A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three months ended March 31, 2026: <div style="-aw-sdt-tag:'c6639d815e653fadd5ae'; -aw-sdt-title:'DERIVATIVE LIABILITIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:22.5pt"><td style="width:87%; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_fd577863c4914b8ea632e84e6f1d9eec'">Contingent Milestone Payment</div></td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ff0051b243e64116bbf90efbe05a88e3'">Derivative liabilities - December 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'069-cd5-dbb-f5e-1a0e'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'5f1-0f3-c55-8e0-b8b5'">374,741</div></td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle"><div style="-aw-sdt-tag:'987-16b-022-944-739a'">Change in fair value</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle">4,567</td></tr><tr style="height:12.75pt"><td style="width:87%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'16a-33e-c0a-7cf-5583'">Derivative liabilities - March 31, 2026</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'f73-24a-790-15a-8cc9'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff">379,308</td></tr></tbody></table></div> A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three months ended March 31, 2025: <div style="-aw-sdt-tag:'1f6-274-06e-324-113a'; -aw-sdt-title:'DERIVATIVE LIABILITIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:87%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_9b7bbdd2b0ad450593bb39fcb5204a2d'">Contingent Milestone Payment</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_349fc0c506ae466a8afcdbfdf7eb138c'">Derivative liabilities - December 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e6028efd12ee4fa482ca3e0bf101af8e'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7ab6157566fd406ba29b6922a10b9ec9'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c6bf1ed06ead4adf9f2296394e5d94fe'">Change in fair value</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td></tr><tr style="height:11.5pt"><td style="width:87%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ebba7a73ac5447149cff86376061747e'">Derivative liabilities - March 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'95d-5f9-dc4-221-eec5'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_6c58f57330b54183b08d956ee1ecbd60'">635,725</div></td></tr></tbody></table></div>

374741

4567

379308

640830

-5105

635725

-4567

5105

9. INCOME TAXES The Company did not record a federal income tax provision or benefit for the three months ended March 31, 2026 and 2025 due to taxable losses.

10. SHARE-BASED COMPENSATION <div style="-aw-sdt-tag:'c037fface987eb1f9566'">The following is a summary of share-based compensation expenses reported in the consolidated condensed statements of operations and comprehensive loss for the three months ended March 31, 2026 and 2025: <div style="-aw-sdt-tag:'c13275b5451f7f9fa78e'; -aw-sdt-title:'SHARE-BASED COMPENSATION T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b793b7deaa5f4e1d950f54932847ec4e'">For the Three Months Ended March 31,</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_1c65bd1b721f4fdbb0598ff8d89de949'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_e80ebe59c55b4da093ced29e2c908199'">2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1f65a7c0fbbf45a68b9646858ce371ce'">Research and Development</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_23d3849a725541999e62bbfea44aac84'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11384fc8b65f4d7db353787823d55423'">460</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_025187fdcd654094abb16118f061da90'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2b22ee8f24c54fa896add2668695efcb'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_61c64308dfc6458ea1fbb4a8c7b703f2'">General and Administrative Expenses</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_ddd5fe7024e34d6d8b4886992b4b418e'">123,642</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b1923603f0314dcc9f9dff054d6a03da'">186,763</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bfa6fe246dec48e885d05f0057213748'">Total Share-Based Compensation Expense Included in Operating Expenses</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f745775470c94315af299adf55367ded'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_74b13f97c0cf48dab5e62d86746dd071'">124,102</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f2f730e985d34774bbed0f63d2691b9d'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_40018e5c15e74eda9b9f7804866b0d19'">186,763</div></td></tr></tbody></table></div></div> Share-Based Compensation under 2022 Equity Incentive Plan On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards to eligible employees, directors and consultants, to be granted from time to time by the Board of Directors of the Company. To date, the Company has granted shares of common stock, restricted stock units, stock options to employees, nonemployees, and directors under the 2022 Plan. As of March 31, 2026, the number of remaining shares available for issuance under the 2022 Plan is equal to 95,284. Stock Options The Company grants stock options to employees, nonemployees, and directors with exercise prices equal to the closing price of the underlying shares of the Company’s common stock on the Nasdaq Capital Market on the date that the options are granted. Options granted generally have a term of five to ten years from the grant date and are subject to vesting as determined in the individual award agreement. The Company estimates the fair value of stock options on the grant date by applying the Black-Scholes option pricing valuation model. There were no stock options granted during the three months ended March 31, 2026. During the three months ended March 31, 2025, Company granted a total of 30,000 stock options at a weighted average per share exercise price of $26.20. These options are subject to vesting annually in five equal tranches, with the first 20% tranche fully vested on the date of grant and thereafter, vest on the last date of each fiscal year beginning December 31, 2025. The weighted average grant date fair value of options granted during the three months ended March 31, 2025 was $18.20. <div style="-aw-sdt-tag:'PG_54ac3f2157529090'"></div><div style="-aw-sdt-tag:'2b8-829-358-045-27fb'">The following table summarizes the significant assumptions used in determining the fair value of options granted during the three months ended March 31, 2026 and 2025: <div style="-aw-sdt-tag:'c6b82afc388c401d9e30'; -aw-sdt-title:'SBC Table FMV Assumptions'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_371d5f2bfb054b0e8460d09bb59858a9'">For the Three Months Ended March 31,</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_58cd0c9841254a3dac116deef4bcbc41'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_78c64d6266234af3b75e0972a6752883'">2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bdbe21d861f54e598b6c2ebeaf8c95fe'">Weighted-average grant date fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7890dccaab874e7d92cb7b0e72fc317f'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_22b11df71f0d47098e6e2bded099c637'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0a2dcde2664d42579b74f707d6505d93'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_37a0df27750945fc9b6899c1a6a047ca'">18.20</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a86fcbd02d504a77b42500289cd5f9c5'">Risk-free interest rate</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_422b919e53604b4d9b01e6a4ff8ae470'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff">4.36%</td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5fe58341b1494de19749b138fb5378ee'">Expected volatility</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0c331ee129f64ed1b9fa50dc73136fcd'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'751-6e3-aba-e8b-b960'">90.00</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f98e805c00b14edb84da40ce6346c721'">Expected term (years)</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_e4b5461f1a1746da98b836b10b7a794a'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'0b4-1f9-78e-a01-1c66'">4.50</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_04267cb0abf54990bdf4b71fb0d4b3f1'">Expected dividend yield</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_3310313796d64fcca52c3a9e78c2bec2'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff">0.00%</td></tr></tbody></table></div></div> For the three months ended March 31, 2026 and 2025, the Company recognized $79,524 and $142,645 of compensation expense related to stock option awards, respectively. Restricted Stock Units Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded. On March 4, 2026, the Company entered into a consulting agreement with an external consultant to provide strategic advisory services. As consideration for such services, the consultant is entitled to receive equity compensation in the form of shares of the Company’s common stock. These awards are accounted for as nonemployee share-based compensation under ASC 718. Pursuant to the agreement, the Company agreed to grant 20,000 restricted stock units (“RSUs”) that vested in full on the effective date of the agreement, and an additional 2,500 RSUs for each month of service thereafter, provided the agreement remains in effect. The agreement has an initial term of 12 months and may be terminated at the Company’s option upon seven days’ prior notice. The shares vested during the three months ended March 31, 2026, plus the first monthly installment for April 2026, were issued in Q2 2026 (see Note 12 – Subsequent Events). For the three months ended March 31, 2026, the Company granted 20,000 RSUs under this agreement with a grant date fair value of $2.27 per share, all of which vested in full on the grant date. The Company recognized stock-based compensation expense of $45,400 related to these vested RSUs during the three months ended March 31, 2026. For the three months ended March 31, 2025, no RSUs were granted or vested, and the Company recognized no stock-based compensation expense related to RSUs. Share-Based Payments to Vendors for Services In 2023, the Company issued shares of common stock as share-based payments to certain vendors in exchange for services to be rendered to the Company in the future. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments as a prepaid asset on the grant date, as defined in ASC 718. The corresponding cost is expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. As of March 31, 2026, the remaining unamortized balance of prepaid assets related to these share-based payments for which the grant date criteria has been met is $151,309 ($195,887 at December 31, 2025), which is presented as a component of prepaid and other assets on the accompanying consolidated condensed balance sheets. Of this amount, $22,059 will be recognized ratably over the remaining service period through May 15, 2026. The remaining $129,250 will be recognized as the related research and development services are provided, which the Company estimates will occur within one year. The agreements with the nonemployees do not include any provisions to claw back the share-based payments in the event of nonperformance by the nonemployees. Subject to applicable federal and state securities laws, the nonemployees can sell the received equity instruments.

The following is a summary of share-based compensation expenses reported in the consolidated condensed statements of operations and comprehensive loss for the three months ended March 31, 2026 and 2025: <div style="-aw-sdt-tag:'c13275b5451f7f9fa78e'; -aw-sdt-title:'SHARE-BASED COMPENSATION T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b793b7deaa5f4e1d950f54932847ec4e'">For the Three Months Ended March 31,</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_1c65bd1b721f4fdbb0598ff8d89de949'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_e80ebe59c55b4da093ced29e2c908199'">2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1f65a7c0fbbf45a68b9646858ce371ce'">Research and Development</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_23d3849a725541999e62bbfea44aac84'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11384fc8b65f4d7db353787823d55423'">460</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_025187fdcd654094abb16118f061da90'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_2b22ee8f24c54fa896add2668695efcb'">-</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"><div style="-aw-sdt-tag:'C_61c64308dfc6458ea1fbb4a8c7b703f2'">General and Administrative Expenses</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_ddd5fe7024e34d6d8b4886992b4b418e'">123,642</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:11%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-tag:'C_b1923603f0314dcc9f9dff054d6a03da'">186,763</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bfa6fe246dec48e885d05f0057213748'">Total Share-Based Compensation Expense Included in Operating Expenses</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f745775470c94315af299adf55367ded'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_74b13f97c0cf48dab5e62d86746dd071'">124,102</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f2f730e985d34774bbed0f63d2691b9d'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_40018e5c15e74eda9b9f7804866b0d19'">186,763</div></td></tr></tbody></table></div>

460

123642

186763

124102

186763

95284

term of five to ten years

30000

26.2

0.20

18.2

The following table summarizes the significant assumptions used in determining the fair value of options granted during the three months ended March 31, 2026 and 2025: <div style="-aw-sdt-tag:'c6b82afc388c401d9e30'; -aw-sdt-title:'SBC Table FMV Assumptions'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:middle"><div style="-aw-sdt-tag:'C_371d5f2bfb054b0e8460d09bb59858a9'">For the Three Months Ended March 31,</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_58cd0c9841254a3dac116deef4bcbc41'">2026</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_78c64d6266234af3b75e0972a6752883'">2025</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_bdbe21d861f54e598b6c2ebeaf8c95fe'">Weighted-average grant date fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_7890dccaab874e7d92cb7b0e72fc317f'">$</div></td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_22b11df71f0d47098e6e2bded099c637'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0a2dcde2664d42579b74f707d6505d93'">$</div></td><td style="width:11%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_37a0df27750945fc9b6899c1a6a047ca'">18.20</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a86fcbd02d504a77b42500289cd5f9c5'">Risk-free interest rate</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_422b919e53604b4d9b01e6a4ff8ae470'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff">4.36%</td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_5fe58341b1494de19749b138fb5378ee'">Expected volatility</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0c331ee129f64ed1b9fa50dc73136fcd'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'751-6e3-aba-e8b-b960'">90.00</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f98e805c00b14edb84da40ce6346c721'">Expected term (years)</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_e4b5461f1a1746da98b836b10b7a794a'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:11%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'0b4-1f9-78e-a01-1c66'">4.50</div></td></tr><tr style="height:11.5pt"><td style="width:74%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_04267cb0abf54990bdf4b71fb0d4b3f1'">Expected dividend yield</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_3310313796d64fcca52c3a9e78c2bec2'"> N/A </div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:11%; vertical-align:bottom; background-color:#cceeff">0.00%</td></tr></tbody></table></div>

18.2

0.0436

0.90

P4Y6M

79524

142645

20000

2500 The agreement has an initial term of 12 months and may be terminated at the Company’s option upon seven days’ prior notice.

20000

2.27

45400

151309 195887 22059 129250

11. COMMITMENTS AND CONTINGENCIES Leases The Company is a party to a single lease with CXI Corp for its office space located in Washington, DC, which was most recently renewed in December 2025 for an additional one-year term that expires on March 31, 2027. As the term of the office lease is 12 months, the lease is not recorded on the balance sheet. The Company recognizes lease expense on this lease as short-term lease costs. Short-term lease costs were in the amount of $5,534 and $4,967 for the three months ended March 31, 2026 and 2025. Board of Directors In November and December 2022, the Company signed agreements with four director nominees (Cheryl Xu, Paul Field, Charles Allen, and Stephen Toovey) which came into effect on July 11, 2023, the date the Company’s Registration Statement was declared effective. Each director is entitled to receive cash compensation of $11,250 quarterly. In addition, the two non-audit committee chairs (Toovey, Field) will receive $1,250 per quarter and the audit committee chair (Allen) will receive an additional $2,000 per quarter. In addition, each director is entitled to receive annual equity-based compensation awards, with the amounts and terms to be determined by the Compensation Committee. Contingencies The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations. Contingent Compensation Following the Company’s IPO and the conversion of the outstanding debt pursuant to the Knight Debt Conversion Agreement as discussed in Note 8, the Company is obligated to pay Knight a contingent milestone payment of $10 million if the Company sells Arakoda or if a Change of Control occurs. The Company accounts for the contingent milestone payment as a derivative liability (See Note 8). On July 15, 2015, the Company entered into the Exclusive License Agreement with the U.S. Army Medical Materiel Development Activity (the “U.S. Army”), which was subsequently amended (the “U.S. Army Agreement”), in which the Company obtained a license to develop and commercialize the licensed technology with respect to all therapeutic applications and uses excluding radical cure of symptomatic vivax malaria. The term of the U.S. Army Agreement will continue until the expiration of the last to expire of the patent application or valid claim of the licensed technology, or 20 years from the start date of the U.S. Army Agreement, unless terminated earlier by the parties. The Company must make a minimum annual royalty payment of 3% of Net Sales (as defined in the U.S. Army Agreement) for Net Sales less than $35 million, and 5% of Net Sales greater than $35 million, with US government sales excluded from the definition of Net Sales. In addition, the Company must pay fees upon the achievement of certain milestones. The Company accrues the minimum annual royalty when the related sales occur. The achievement of the remaining milestones under the U.S. Army Agreement are not considered probable and thus no accruals for the related milestone payments have been made. On December 20, 2024, the Company entered into a Patent License Agreement with Tufts Medical Center (“Tufts MC”), in which the Company obtained a license to research and commercialize the licensed technology with respect to the use of tafenoquine for treatment and/or prevention of babesiosis (the “Tufts MC Agreement”). The term of the Tufts MC Agreement will continue until the expiration or final abandonment of the last patent application or issued patent for the use of tafenoquine for treatment and/or prevention of babesiosis, unless terminated earlier by the parties. On the earlier of (x) the date of patent issuance or (y) the date of regulatory approval for the use of tafenoquine product in treatment of babesiosis, the Company must make royalty payments equal to 4% of Net Sales (as defined in the Tufts MC Agreement) for tafenoquine sold in a format labeled for use in the treatment of babesiosis or 2% of Net Sales for 60P products that are not sold in a format labeled for use in the treatment of babesiosis. In addition, for all sublicense revenue received by 60P from sales of sublicensed products, the Company must make royalty payments equal to 20% of the revenue received by the Company for sales of tafenoquine sold in a format labeled for use in the treatment of babesiosis or 10% for sales of tafenoquine that are not sold in a format labeled for use in the treatment of babesiosis. As of March 31, 2026, the royalty period has not commenced, thus no accruals have been made. Litigation, Claims and Assessments From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of March 31, 2026, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations.

5534

4967

11250

1250

2000

annual

10000000

P20Y 0.03

35000000

0.05

35000000

0.04 0.02

0.20

0.10

12. SUBSEQUENT EVENTS The Company has evaluated subsequent events through May 15, 2026, which is the date the financial statements were issued. On April 23, 2026, pursuant to the consulting agreement described in Note 10, the Company issued 22,500 shares of common stock to the consultant, representing the initial 20,000 shares underlying the RSUs that vested on the effective date of the agreement, and the 2,500 shares underlying the RSUs granted in April 2026. There have been no other events or transactions during this time which would have a material effect on these consolidated condensed financial statements.

22500

20000

2500

Prior periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026. Prior periods presented have been adjusted to reflect the 1:4 reverse stock split on January 20, 2026. Weighted average remaining contractual life at December 31, 2024 excludes 96,300 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025.