Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 13—Related Party Transactions Tendler Biotech Consulting On March 18, 2026, we entered into a Consulting Agreement with Tendler Biotech Consulting LLC (“Tendler Biotech”), an entity owned by one of the Company's directors, Dr. Craig Tendler. Under this agreement, Dr. Tendler provides, through Tendler Biotech, specified consulting services on an as-requested basis relating to the Company’s development strategy and operations in connection with the Company’s product pipeline. Under this agreement, Tendler Biotech is entitled to receive an hourly fee of $1,250 and reimbursement of reasonable out-of-pocket expenses. The Consulting Agreement has a term of two years but may be terminated early by either party at any time upon at least 15 days’ prior written notice. There have been approximately $85,000 in fees paid to Tendler Biotech under this Agreement through June 30, 2026. Loan Agreement On April 21, 2026, we entered into the Loan Agreement with Parkview. Pursuant to the Loan Agreement, Parkview agreed to extend a $50 million revolving credit facility to us, maturing on April 21, 2031, to fund general corporate purposes, including clinical trials and development programs. Borrowings are secured by substantially all of our assets and the assets of our subsidiaries and bear interest at 12% per annum (plus an additional 6% during any event of default), payable monthly in arrears. If we achieve net profits from pharmaceutical product sales for two consecutive fiscal quarters, we are obligated to repay principal equal to 75% of such net profits from the prior quarter. See Note 8 - Revolving Credit Facility. |