v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 11,334,370 $ 3,496,540
Short-term investments 206,396,805 89,509,710
Other receivable 10,912
Prepaid expenses 1,297,590 977,721
Total current assets 219,039,677 93,983,971
Other assets 19,500 19,500
Total assets 219,059,177 94,003,471
Current liabilities:    
Accounts payable 2,409,190 1,568,944
Accrued expenses 5,011,583 4,861,583
Total current liabilities 7,420,773 6,430,527
Stock appreciation rights 5,080,081 1,060,931
Total liabilities 12,500,854 7,491,458
Commitments and Contingencies (See Note 8)
Stockholders’ Equity:    
Preferred stock value
Common stock, $0.001 par value, 200,000,000 shares authorized, 106,669,846 and 73,333,622 shares issued and outstanding, respectively 106,670 73,333
Additional paid-in capital 936,684,992 784,705,878
Accumulated deficit (730,233,339) (698,267,198)
Total stockholders’ equity 206,558,323 86,512,013
Total liabilities and stockholders’ equity 219,059,177 94,003,471
Class A Convertible Preferred Stock    
Stockholders’ Equity:    
Preferred stock value