Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 7. Related Party Transactions
Related party transactions include transactions with the Company’s officers, directors and affiliates.
Employment Agreements with Officers
Effective June 16, 2025, the Company entered into a three-year employment agreement with Geordan Pursglove as Chief Executive Officer and Chairman of the Board. Mr. Pursglove’s annual salary was $240,000, increased to $360,000 effective January 1, 2026. Effective September 1, 2025, he was also appointed President upon the resignation of Bastiaan van der Baan (below). The Company paid Mr. Pursglove $90,000 and $0 during the three months ended June 30, 2026 and 2025, and $180,000 and $0 during the six months then ended, respectively.
Effective September 1, 2025, the Company entered into an employment agreement with Peter Stazzone as Chief Financial Officer, at an annual salary of $150,000. During the three and six months ended June 30, 2026, the Company paid $37,500 and $75,000, respectively to Mr. Stazzone.
Bastiaan van der Baan has served under an employment agreement since 2023, most recently as Chief Scientific Officer following his resignation as President effective September 1, 2025. The Company paid Mr. van der Baan $40,409 and $41,748 during the three months ended June 30, 2026 and 2025, and $80,824 and $83,496 during the six months then ended, respectively.
Former officers
Several officers and directors departed the Company effective in 2025 and had no compensation activity in 2026. During the three and six months ended June 30, 2025, the Company paid $43,750 and $87,500 to Robert N. Weingarten (former Chief Financial Officer, resigned September 1, 2025) and $29,811 and $57,315 to Dr. Jan H.M. Schellens (former Chief Medical Officer, resigned July 31, 2025). René Bernards, a former independent director who resigned September 1, 2025, received no compensation during the 2025 periods presented.
Director Compensation
The Company paid cash compensation to non-officer directors of $ and $ during the three months ended June 30, 2026 and 2025, and $ and $ during the six months then ended, respectively. Stock-based compensation granted to directors, officers and affiliates is described in Note 9.
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