4. | PREPAID EXPENSES AND OTHER CURRENT ASSETS |
Prepaid expenses and other current assets consist of the following: | | | | | | | | | | June 30, | | December 31, | | | | 2026 | | 2025 | | Upfront research payments | | $ | 2,843,468 | | $ | 2,625,049 | | Accrued interest and other receivables | | | 215,226 | | | 36,522 | | Insurance | | | 59,500 | | | 238,000 | | License fees | | | 66,281 | | | 62,059 | | Deferred financing costs | | | — | | | 32,332 | | Other | | | 46,425 | | | 38,150 | | Total prepaid expenses and other current assets | | $ | 3,230,900 | | $ | 3,032,112 | |
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