v3.26.1
Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Stockholders’ Equity [Abstract]  
Schedule of Estimated Using the Black-Scholes Option-Pricing Model

The fair value of the April 2026 Warrants, April Placement Agent Warrants and other warrants were estimated using the Black-Scholes option-pricing model with the following assumptions: 

 

    April 2, 2026     June 4, 2025  
Exercise price     $0.85 to $0.875     $ 1.00  
Term (years)     5.0 to 5.5       2.0  
Expected stock price volatility     120.35 %     129.68 %
Risk-free rate of interest     3.94 %     3.87 %
Schedule of Warrant Activity

A summary of warrant activity for the six months ended June 30, 2026 is as follows:

 

    Number of
Warrants		     Weighted
Average
Exercise
Price		     Total
Intrinsic
Value		     Weighted
Average
Remaining
Contractual Life
(in years)		  
Outstanding as of December 31, 2025     1,740,752     $ 4.38     $ -       2.37  
Granted     3,000,001       0.85       -       -  
Expired     (56,932 )     56.25       -       -  
Outstanding as of June 30, 2026     4,683,821       1.49       -       4.06  
Warrants exercisable as of June 30, 2026     1,826,677     $ 2.49     $ -       2.18  
Schedule of Black-Scholes Option-pricing Model Assumptions

The fair value of option grants was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

    Six Months Ended
June 30,		  
    2026     2025  
Exercise price   $ 0.7083     $ 1.55  
Term (years)     5.0       5.0  
Expected stock price volatility     120.79 %     118.32 %
Risk-free rate of interest     4.19 %     4.59 %
Schedule of Option Activity

A summary of option activity under the Company’s equity incentive plans for the six months ended June 30, 2026 is presented below:

 

    Number of
Shares		     Weighted
Average
Exercise
Price		     Total
Intrinsic
Value		     Weighted
Average
Remaining
Contractual
Life
(in years)		  
Outstanding as of December 31, 2025     1,260,362     $ 4.340     $ 111,250       8.2  
Employee options issued     1,050,000       0.71       -       -  
Expired     -       -       -       -  
Outstanding as of June 30, 2026     2,310,362     $ 2.69     $ 40,300       8.7  
Options vested and exercisable as of June 30, 2026     2,310,362     $ 2.69     $ 40,300       8.7  
Schedule of Stock Options Outstanding

A summary of stock options outstanding as of June 30, 2026 by price range is as follows:

 

    Options outstanding and exercisable  
Range of Exercise Prices   Number of
Shares		     Weighted
Average Remaining
Contractual
Life (in years)		     Weighted
Average Exercise
Price		  
Up to $2.59     2,233,000       8.8     $ 0.98  
$14.75 to $76.25     62,562       5.2     $ 32.95  
Above $76.25     14,800       3.5     $ 131.50  
Options outstanding and exercisable as of June 30, 2026     2,310,362       8.7     $ 2.69  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the three and six months ended June 30, 2026 and 2025 was as follows:

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2026     2025     2026     2025  
Employee stock option awards   $ 625,485     $ —     $ 625,485     $ 219,929  
Non-employee restricted stock awards     51,594       —       51,594       —  
Non-employee stock warrant awards     —       55,525       —       55,525  
    $ 677,079     $ 55,525     $ 677,079     $ 275,454  
Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses

For the three and six months ended June 30, 2026 and 2025, the amount of stock-based compensation expense included within research and development and general and administrative expenses was as follows:

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2026     2025     2026     2025  
Research and development   $ -     $ -     $ -     $ -  
Professional fees     51,594       55,525       51,594       55,525  
General and administrative     625,485       -       625,485       219,929  
    $ 677,079     $ 55,525     $ 677,079     $ 275,454