| Summary of Warrants Outstanding |
As of March 31, 2026 and December 31, 2025, outstanding and exercisable warrants consisted of the following:
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Warrants Outstanding
and Exercisable at
December 31, 2025 |
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Warrants Outstanding
and Exercisable at
March 31, 2026 |
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Contractual
life
remaining
(years) |
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January 20,
2019 |
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10 |
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$ |
4,848.80 |
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92 |
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92 |
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1.83 |
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September 20,
2023 |
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5.5 |
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$ |
56.43 |
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34,599 |
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34,599 |
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2.97 |
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September 2023 Placement Agent Warrants |
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September 20,
2023 |
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5 |
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$ |
72.26 |
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2,075 |
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2,075 |
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2.47 |
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January 2024 Common Stock Warrant |
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January 9,
2024 |
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5 |
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$ |
12.98 |
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13,636 |
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13,636 |
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2.78 |
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January 2024 Pre-Funded Warrant |
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January 9,
2024 |
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Perpetual |
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$ |
0.11 |
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42,864 |
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42,864 |
* |
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August 2025 Pre-Funded Warrant |
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August 20,
2025 |
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Perpetual |
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$ |
0.11 |
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185,528 |
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185,528 |
* |
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September 2025 Pre-Funded Warrant |
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September 25,
2025 |
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Perpetual |
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$ |
0.11 |
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2,318,657 |
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2,318,657 |
* |
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Warrants Outstanding
and Exercisable at
December 31, 2025 |
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Warrants Outstanding
and Exercisable at
March 31, 2026 |
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Contractual
life
remaining
(years) |
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December 2025 Pre-Funded Warrant |
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December 12,
2025 |
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Perpetual |
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$ |
0.11 |
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927,643 |
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927,643 |
* |
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February 2026 Pre-Funded Warrants |
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February 26,
2026 |
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Perpetual |
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$ |
0.11 |
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— |
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1,113,170 |
* |
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March 2026 Pre-Funded Warrants |
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March 12,
2026 |
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Perpetual |
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$ |
0.11 |
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— |
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371,057 |
* |
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Warrants outstanding |
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3,525,094 |
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5,009,321 |
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Weighted
Average
Strike Price |
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$ |
0.65 |
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Weighted Average
Remaining Life
(years) |
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2.90 |
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| * |
Indicates the perpetual warrants that are excluded from the weighted average remaining contractual life (years) calculation. |
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As of December 31, 2025, 2024, and 2023, outstanding and exercisable warrants consisted of the following:
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Outstanding and
Exercisable at
December 31, 2023 |
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Warrants
Outstanding and
Exercisable at
December 31, 2024 |
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Warrants
Outstanding and
Exercisable at
December 31, 2025 |
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Contractual
life
remaining
(years) |
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January 20, 2019 |
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10 |
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$ |
4,848.80 |
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92 |
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92 |
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92 |
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2.08 |
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September 20, 2023 |
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5.5 |
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$ |
56.43 |
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34,599 |
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34,599 |
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34,599 |
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3.22 |
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September 2023 Placement Agent Warrants |
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September 20, 2023 |
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5 |
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$ |
72.26 |
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2,075 |
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2,075 |
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2,075 |
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2.72 |
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January 2024 Common Stock Warrant |
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January 9, 2024 |
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5 |
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$ |
12.98 |
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— |
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13,636 |
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13,636 |
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3.02 |
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January 2024 Pre-Funded Warrant |
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January 9, 2024 |
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Perpetual |
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$ |
0.11 |
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— |
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42,864 |
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42,864 |
* |
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August 2025 Pre-Funded Warrant |
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August 20, 2025 |
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Perpetual |
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$ |
0.11 |
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— |
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— |
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185,528 |
* |
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September 2025 Pre-Funded Warrant |
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September 25, 2025 |
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Perpetual |
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$ |
0.11 |
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— |
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— |
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2,318,657 |
* |
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December 2025 Pre-Funded Warrant |
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December 12, 2025 |
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Perpetual |
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$ |
0.11 |
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— |
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— |
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927,643 |
* |
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36,766 |
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93,266 |
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3,525,094 |
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Weighted Average Strike Price |
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$ |
0.88 |
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Weighted Average
Remaining Life
(years) |
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3.14 |
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* |
Indicates the perpetual warrants that are excluded from the weighted average remaining contractual life (years) calculation. |
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