Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes the components of stock-based compensation expense in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2026 and 2025:

	Three Months Ended June 30,					Six Months ended June 30,
	2026		2025			2026		2025
	(unaudited)					(unaudited)
Stock-Based Compensation
Research and development	$	360,236	$	(316,466	)	$	725,260	$	204,061
General and administrative		765,818		764,495			1,557,289		1,497,850
Total	$	1,126,054	$	448,029		$	2,282,549	$	1,701,911

Stock Option Activity

The Company granted options to purchase 2,833,162 shares during the six month period ended June 30, 2026. The fair value of options granted during the six months ended June 30, 2026 was estimated using the Black-Scholes option valuation model.

	Number of Shares			Weighted Average Exercise Price
Options outstanding at December 31, 2025		6,731,568		$	4.55
Granted		2,833,162			0.98
Exercised		-			-
Forfeited and expired		(152,585	)		7.45
Options outstanding at June 30, 2026		9,412,145		$	3.43
Vested and expected to vest at June 30, 2026		9,412,145		$	3.43
Exercisable at June 30, 2026		4,414,078		$	5.50