Summary of Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Financial Instruments Measured at Fair Value on Recurring Basis |
The
following tables set forth the fair value of the Company’s consolidated financial instruments that were measured at fair value
on a recurring basis as of June 30, 2026 and December 31, 2025:
Schedule
of Financial Instruments Measured at Fair Value on Recurring Basis
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| | |
June 30, 2026 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Cash and cash equivalents | |
| 5,549,222 | | |
| - | | |
| - | | |
| 5,549,222 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total Assets | |
| 5,549,222 | | |
| - | | |
| - | | |
| 5,549,222 | |
| | |
| | | |
| | | |
| | | |
| | |
| Warrant liabilities | |
| - | | |
| - | | |
| 1,902,612 | | |
| 1,902,612 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total liabilities | |
| - | | |
| - | | |
| 1,902,612 | | |
| 1,902,612 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| | |
December 31, 2025 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Cash and cash equivalents | |
| 2,917,721 | | |
| - | | |
| - | | |
| 2,917,721 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total fair value | |
| 2,917,721 | | |
| - | | |
| - | | |
| 2,917,721 | |
| | |
| | | |
| | | |
| | | |
| | |
| Warrant liabilities | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | |
| Total liabilities | |
| - | | |
| - | | |
| - | | |
| - | |
|
| Schedule of Property and Equipment Estimated Useful Lives |
Schedule
of Property and Equipment Estimated Useful Lives
| Laboratory
equipment |
|
5
years |
| Furniture
and fixtures |
|
7
years |
| Leasehold
improvements |
|
Lesser
of the lease duration or the life of the improvements |
|
| Schedule of Property and Equipment |
Property
and equipment consist of the following as of June 30, 2026, and December 31, 2025, respectively:
Schedule
of Property and Equipment
| | |
June 30, 2026 | | |
December 31, 2025 | |
| Laboratory equipment | |
$ | 1,455,542 | | |
$ | 1,397,939 | |
| Furniture and fixtures | |
| 54,338 | | |
| 54,338 | |
| Leasehold improvements | |
| 328,786 | | |
| 328,786 | |
| Total property and equipment | |
| 1,838,666 | | |
| 1,781,063 | |
| Less: Accumulated depreciation | |
| (1,167,758 | ) | |
| (1,016,662 | ) |
| Property and equipment, net | |
$ | 670,908 | | |
$ | 764,401 | |
|
| Schedule of Grants Receivable Activity |
Summary
of grants receivable activity for the six months ended June 30, 2026, and 2025, is presented below:
Schedule of Grants Receivable Activity
| | |
2026 | | |
2025 | |
| | |
Six Months ended June 30, | |
| | |
2026 | | |
2025 | |
| Balance at beginning of period | |
$ | 517,359 | | |
$ | 737,282 | |
| Grant costs expensed | |
| 540,820 | | |
| 864,433 | |
| Grants for equipment purchased | |
| - | | |
| 19,699 | |
| Grant fees | |
| 3,724 | | |
| 8,715 | |
| Grant funds received | |
| (860,647 | ) | |
| (1,372,722 | ) |
| Balance at end of period | |
$ | 201,256 | | |
$ | 257,407 | |
|