v3.26.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS

The Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items in the accompanying condensed consolidated statements of operations:

 

   2026   2025   2026   2025 
   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2026   2025   2026   2025 
                 
Research and development  $17,780   $(8,334)  $18,854   $12,916 
General and administrative   767,161    219,941    780,427    525,307 
Total stock-based compensation expense  $784,941   $211,607   $799,281   $538,223 
SUMMARY OF OPTION ACTIVITY

The following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

 

   Number of
options
   Weighted-average
exercise price
   Weighted-average
remaining contractual
term (in years)
   Aggregate
intrinsic value
 
Outstanding at December 31, 2025   9,055   $211.56    3.67     
Granted   343,780    1.59    9.94     
Exercised                
Forfeited                
Outstanding at June 30, 2026   352,835   $6.98    9.76     
                     
Vested and exercisable at June 30, 2026   352,835   $6.98    9.76     
SUMMARY OF RESTRICTED STOCK AWARD

The following table summarizes restricted stock award activity under the 2014 Plan and 2024 Plan:

 

               As of June 30, 2026 
   Number of restricted
stock awards
(RSA)
   Weighted-
average
grant price
   FMV on
grant date
   Vested
number
of RSA
   Unvested
number
of RSA
 
Balance at December 31, 2025   51,810   $51.87   $2,709,982    47,951    3,859 
Granted   161,055    1.56    251,246    161,055     
Forfeited                    
Balance at June 30, 2026   212,865   $13.91   $2,961,228    209,006    3,859