Warrants (Tables)
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3 Months Ended |
Dec. 31, 2025 |
| Warrants [Abstract] |
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| Schedule of Warrants Outstanding |
The following table summarizes warrants outstanding as of December 31, 2025 and September 30, 2025: | Instrument | | Classification | | Exercise Price | | | Expiration | | December 31, 2025 | | | September 30, 2025 | | | Representative’s Warrants | | Equity | | $ | 6.00 | | | Nov-28 | | | 105,000 | | | | 105,000 | | | Public Offering Warrants | | Liability | | $ | 1.35 | | | Sep-29 | | | 411,111 | | | | 3,013,408 | | | Placement Agent Warrants | | Mezzanine equity | | $ | 1.69 | | | Sep-29 | | | 82,389 | | | | 616,139 | | | Common Inducement Warrants | | Liability | | $ | 4.00 | | | Feb-30 | | | 1,349,898 | | | | 2,699,797 | | | Placement Agent Inducement Warrants | | Mezzanine equity | | $ | 5.00 | | | Mar-30 | | | 188,986 | | | | 188,986 | | | Total warrants outstanding | | | | | | | | | | | 2,137,384 | | | | 6,623,330 | |
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| Schedule of Liability Classified Warrant and Equity Warrants |
The following table presents the changes in the liability-classified warrants outstanding. | | | Public Offering Warrants | | | Common Inducement Warrants | | | Total | | | Warrants outstanding as of September 30, 2024 | | | 15,555,557 | | | | — | | | | 15,555,557 | | | Issuance | | | — | | | | 2,699,797 | | | | 2,699,797 | | | Exercises | | | (12,542,149 | ) | | | — | | | | (12,542,149 | ) | | Warrants outstanding as of September 30, 2025 | | | 3,013,408 | | | | 2,699,797 | | | | 5,713,205 | | | Exercises | | | (2,602,297 | ) | | | (1,349,899 | ) | | | (3,952,196 | ) | | Warrants outstanding as of December 31, 2025 | | | 411,111 | | | | 1,349,898 | | | | 1,761,009 | | The following table presents the changes in the Mezzanine Equity Warrants. | | | Placement Agent Warrants | | | Placement Agent Inducement Warrants | | | Total | | | Warrants outstanding as of September 30, 2024 | | | 1,088,889 | | | | - | | | | 1,088,889 | | | Issuance | | | - | | | | 188,986 | | | | 188,986 | | | Exercises | | | (472,750 | ) | | | - | | | | (472,750 | ) | | Warrants outstanding as of September 30, 2025 | | | 616,139 | | | | 188,986 | | | | 805,125 | | | Exercises | | | (533,750 | ) | | | - | | | | (533,750 | ) | | Warrants outstanding as of December 31, 2025 | | | 82,389 | | | | 188,986 | | | | 271,375 | |
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| Schedule of Changes in Fair Value of the Liability-Classified Warrants |
The following table presents the change in the liability balance associated with the liability-classified warrants. Changes in the fair value of the liability-classified warrants are included within other income (loss) on the consolidated statements of operations. | | | Public Offering Warrants | | | Common Inducement Warrants | | | Total | | | Balance as of September 30, 2024 | | $ | 6,940 | | | $ | - | | | $ | 6,940 | | | Issuance | | | - | | | | 4,758 | | | | 4,758 | | | Exercises | | | (26,585 | ) | | | - | | | | (26,585 | ) | | Change in fair value | | | 30,648 | | | | 3,524 | | | | 34,172 | | | Balance as of September 30, 2025 | | | 11,003 | | | | 8,282 | | | | 19,285 | | | Exercises | | | (12,849 | ) | | | (3,483 | ) | | | (16,332 | ) | | Change in fair value | | | 2,957 | | | | (1,776 | ) | | | 1,181 | | | Balance as of December 31, 2025 | | $ | 1,111 | | | $ | 3,023 | | | $ | 4,134 | |
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| Schedule of Valuation Assumptions |
Key assumptions utilized in the issuance-date valuation of the Public Offering Warrants and Common Inducement Warrants are summarized in the table below: | | | Public Offering Warrants | | | Common Inducement Warrants | | | Stock price | | $ | 1.27 | | | $ | 3.01 | | | Exercise price | | $ | 1.35 | | | $ | 4 | | | Expected term (in years) | | | 5 | | | | 5 | | | Volatility | | | 73.60 | % | | | 75.20 | % | | Risk-free interest rate | | | 3.62 | % | | | 4.29 | % | Key assumptions utilized in the valuation of the liability-classified warrants as of the balance sheet dates are summarized in the table below: | | | December 31, 2025 | | | September 30, 2025 | | | Stock price | | | $3.23 | | | | $4.29 | | | Exercise price | | | $1.35 - 4.00 | | | | $1.35 - 4.00 | | | Expected term (in years) | | | 3.68 - 4.11 | | | | 3.93 - 4.36 | | | Volatility | | | 102.9 - 111.1% | | | | 95.1 - 100.8% | | | Risk-free interest rate | | | 3.58 - 3.62% | | | | 3.64 - 3.66% | | Key assumptions utilized in the issuance-date valuation of the Placement Agent Warrants and Placement Agent Inducement Warrants are summarized in the table below: | | | Placement Agent Warrants | | | Placement Agent Inducement Warrants | | | Stock price | | $ | 1.27 | | | $ | 1.98 | | | Exercise price | | $ | 1.69 | | | $ | 5.00 | | | Expected term (in years) | | | 5.00 | | | | 4.95 | | | Volatility | | | 73.60 | % | | | 82.70 | % | | Risk-free interest rate | | | 3.62 | % | | | 3.92 | % |
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| Schedule of Mazzanine Equity |
The following table summarizes activity in mezzanine equity: | | | Placement Agent Warrants | | | Placement Agent Inducement Warrants | | | Total | | | Balance as of September 30, 2024 | | $ | 786 | | | $ | - | | | $ | 786 | | | Issuance | | | - | | | | 189 | | | | 189 | | | Exercises | | | (341 | ) | | | - | | | | (341 | ) | | Remeasurement | | | - | | | | - | | | | - | | | Balance as of September 30, 2025 | | $ | 445 | | | $ | 189 | | | $ | 634 | | | Exercises | | | (385 | ) | | | - | | | | (385 | ) | | Remeasurement | | | - | | | | - | | | | - | | | Balance as of December 31, 2025 | | $ | 60 | | | $ | 189 | | | $ | 249 | |
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