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Property and equipment, net
6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and equipment, net Property and equipment, net
Property and equipment, net consists of the following:
June 30, 2026December 31, 2025
Machinery and equipment$11,150 $1,527,419 
Computer equipment96,744 96,744 
Furniture and fixtures
18,999 24,496 
Leasehold improvements13,954 23,918 
   Total property and equipment, gross140,847 1,672,577 
Less: accumulated depreciation and amortization
(107,908)(773,647)
Total property and equipment, net$32,939 $898,930 
During the second quarter of 2026, the Company began winding down its existing operations in in connection with its strategic review process and evaluation of the proposed Transaction Agreement. As a result, management determined that certain reusable manufacturing chromatography materials previously capitalized as machinery and equipment would no longer be used in the Company's operations.
Management evaluated these assets under ASC 360, Property, Plant, and Equipment, and concluded that the carrying amounts were not recoverable. In reaching this conclusion, management considered that the assets would no longer be used in operations, could not be repurposed for alternative internal use, were not intended to be sold, and that no active secondary market or other market participants were identified from whom the Company could reasonably expect to realize proceeds upon disposition.
Accordingly, the Company estimated the fair value of the assets to be zero and recorded a non-cash loss on disposal of approximately $589,660 during the three and six months ended June 30, 2026. The impairment loss was included within research and development expenses in the accompanying Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026. The Company removed the related gross asset cost and accumulated depreciation from its balance sheet, and the carrying value of these assets was zero as of June 30, 2026.