v3.26.1
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenues
Operating Expenses:        
Research and development 1,055,000 363,000 1,468,000 1,462,000
Selling, general and administrative 3,457,000 1,150,000 5,892,000 1,983,000
Loss from Operations (4,512,000) (1,513,000) (7,360,000) (3,445,000)
Other Income (Expense)        
Interest income 58,000 38,000 125,000 70,000
Interest expense (64,000) (127,000)
Loss on initial recognition of Greenshoe Rights liability   (28,736,000)   (28,736,000)
Change in fair value of warrant liability (114,000) 11,000 12,000
Gain on settlement of vendor payable 998,000
Other income 156,000 156,000
Total Other Income (Expense), net (6,000) (28,656,000) 9,000 (27,500,000)
Net Loss (4,518,000) (30,169,000) (7,351,000) (30,945,000)
Dividend on preferred stock (74,000) (85,000) (177,000) (85,000)
Deemed dividend (433,000)
Net Loss attributable to common stockholders’ $ (4,592,000) $ (30,254,000) $ (7,961,000) $ (31,030,000)
Net Loss Per Share - Basic $ (0.12) $ (10.92) $ (0.23) $ (12.12)
Net Loss Per Share - Diluted $ (0.12) $ (10.92) $ (0.23) $ (12.12)
Weighted average common shares outstanding - basic 38,820,657 2,771,765 34,575,429 2,559,604
Weighted average common shares outstanding - diluted 38,820,657 2,771,765 34,575,429 2,559,604