RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| RELATED PARTY TRANSACTIONS [Abstract] | |
| RELATED PARTY TRANSACTIONS |
9.
RELATED PARTY TRANSACTIONS
The Company leases an office
building and equipment from Areth, LLC (“Areth”) pursuant to an agreement for
services effective as of January 1, 2016, as amended from time to time, and
pays monthly rent on this facility in the amount of $10,000. The Company amended
the original Areth agreement to extend its term to December 31, 2026, with
automatic successive one-year renewals thereafter. Either party may terminate
the agreement by providing the other party with one year’s prior written
notice. Rent expense for the three and six months ended June 30, 2026 and 2025
amounted to $30,000 and $60,000, respectively. Areth is a company controlled by
Dr. Jerrold B. Grossman, the Vice Chairman of the Board, and Adam S. Grossman,
the Company’s President and Chief Executive Officer. During the six months ended June 30, 2025, the Company purchased certain specialized equipment and repair services used for the collection and processing of source plasma from GenesisBPS in the amount of approximately $34,000. GenesisBPS was owned by Dr. Grossman and Adam Grossman until September 30, 2025.
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