v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,864,378 $ 8,781,059
Advances and deposits on clinical programs and other current assets 1,826,825 1,942,685
Total current assets 8,691,203 10,723,744
Property and equipment (at cost, less accumulated depreciation and amortization) 459,016 529,936
Other assets:    
Restricted cash 5,000,000
Operating lease right-of-use assets, net 788,894 984,436
Deposits and other assets 50,000 50,000
Total other assets 5,838,894 1,034,436
Total assets 14,989,113 12,288,116
Current liabilities:    
Accounts payable – trade 1,618,497 1,392,829
Other accrued liabilities 1,228,568 2,824,646
Note payable - Note A – current portion 1,500,000
Operating lease liability - current portion 431,781 406,354
Total current liabilities 4,778,846 4,623,829
Operating lease liability - non-current portion 379,409 602,411
Derivative liability associated with redemption feature of Note A 107,969
Total liabilities 10,800,326 5,226,240
Commitments and contingencies
Stockholders’ equity:    
Preferred stock - $0.01 par value (100,000 shares authorized; 250 shares issued and outstanding at June 30, 2026, and no shares issued or outstanding at December 31, 2025) 3
Additional paid-in capital - preferred stock 2,251,918
Common stock - $0.01 par value (350,000,000 shares authorized; 4,665,662 and 3,419,652 shares issued at June 30, 2026 and December 31, 2025, respectively; and 4,665,660 and 3,419,650 shares outstanding at June 30, 2026 and December 31, 2025, respectively) 46,657 34,197
Additional paid-in capital 430,336,605 428,410,939
Accumulated deficit (428,361,208) (421,298,072)
Total stockholders’ equity before treasury stock 4,273,975 7,147,064
Treasury stock, at cost (2 shares at June 30, 2026 and December 31, 2025) (85,188) (85,188)
Total stockholders’ equity 4,188,787 7,061,876
Total liabilities and stockholders’ equity 14,989,113 12,288,116
Related Party A [Member]    
Current liabilities:    
Note payable 673,271
Related Party B [Member]    
Current liabilities:    
Note payable $ 4,860,831