v3.26.1
Accrued Expenses and Other Liabilities
 6 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities

NOTE 3 — ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consist of the following:

 

June 30, 2026

 

 

December 31, 2025

 

Research and development costs and other accrued expenses

$

398,189

 

 

$

1,013,200

 

Warrant exercise proceeds received in advance

 

1,100,000

 

 

 

—

 

Professional fees

 

119,315

 

 

 

637,566

 

Accrued settlement agreement payments(1)

 

23,797

 

 

 

—

 

Accrued bonus

 

784,751

 

 

 

—

 

Vacation pay

 

84,453

 

 

 

—

 

Accrued expenses and other current liabilities

$

2,510,505

 

 

$

1,650,766

 

(1) Accrued payment related to Geoffrey Race’s settlement agreement. See Note 10 for additional information.