v3.26.1
Warrants (Tables)
 6 Months Ended
Jun. 30, 2026
Warrants  
Schedule of Warrant Activity

Following is a summary of the Company’s warrant activity for the six months ended June 30, 2026:

  

   Number of
Common Stock
Underlying the
Warrants		  

Weighted
Average

Exercise Price
Per Share

   Weighted
Average
Remaining
Life (Years)		 
Outstanding as of December 31, 2025   22,616,449   $5.48    3.54 
Exercises of pre-funded warrants   (11,817,165)   0.00    - 
Issued   10,013,351    8.15    - 
Expired   (4,500,000)   17.50    - 
Outstanding as of June 30, 2026   16,312,635   $7.77    3.96 
 
   Number of
Common Stock
Underlying the
Warrants		   Weighted
Average
Exercise Price
Per Share		   Weighted
Average
Remaining
Life (Years)		 
Outstanding as of December 31, 2024   50,569   $1.07    7.71 
Exercised   (94,967)   -    - 
Issued   18,160,847    2.49    4.94 
Expired   -    -      
Outstanding as of June 30, 2025   18,116,449   $2.49    4.91 

 
Schedule of Fair Values of Warrant Using Black-scholes Valuation Model Assumptions

The fair value of each warrant is estimated on the date of grant using the BSOPM and the following assumptions:

  

   June 30, 2026 
Expected volatility   96.91%
Expected dividends   0.00%
Expected term (years)   4.00 
Risk-free rate   4.27%
Strike price  $8.15 
Fair value per share of underlying Common Stock on grant date  $4.97