v3.26.1
Fair Value Measurements
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Fair Value Measurements

5.    Fair Value Measurements

The Company has adopted ASC 820, the Fair Value Measurements and Disclosure Topic of the FASB. This Topic applies to certain assets and liabilities that are being measured and reported on a fair value basis. The Fair Value Measurements Topic defines fair value, establishes a framework for measuring fair value in accordance with US GAAP, and expands disclosure about fair value measurements. This Topic enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Topic requires that financial assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

Fair Value Measurement at June 30, 2026 and December 31, 2025

Quoted Price in Active

Market for Identical

Significant Other

Significant

Instruments

Observable Inputs

Unobservable Inputs

Level 1

Level 2

Level 3

Total

2026

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2025

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2026

  ​ ​ ​

2025

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2026

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2025

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2026

  ​ ​ ​

2025

Assets

  ​

  ​

  ​

  ​

  ​

  ​

  ​

  ​

Cash and cash equivalents

$

2,544

(1)  

$

3,072

(1)  

$

38,705

$

33,716

$

$

$

41,249

$

36,788

Processa common shares

$

2

(2)  

$

2

(2)  

$

$

$

$

$

2

$

2

(1)

The Company held approximately $2,544 in cash accounts as of June 30, 2026, of which approximately $404 was held in foreign currencies (translated into U.S. dollars). As of December 31, 2025, the Company held approximately $3,072 in cash of which approximately $481 was in foreign currencies (translated into U.S. dollars).

(2)

The Company holds 51 unrestricted common shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA).