Balance Sheet

v3.26.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 8,149,015	$ 5,882,498
Short-term investments	8,959,614	19,854,723
Prepaid expenses	1,223,534	504,890
Other current assets	234,806	852,036
Total current assets	18,566,969	27,094,147
Property and equipment, net	756,077	898,930
Operating lease right-of-use asset	57,781	266,646
Other assets	35,909	53,910
Total assets	19,416,736	28,313,633
Current liabilities
Accounts payable	3,936,948	2,033,431
Accrued payroll liabilities	234,392	1,269,474
Other current liabilities	3,347,515	2,643,840
Estimate for accrued legal contingencies and related expenses	2,574,759	2,069,067
Insurance premium loan payable	250,338	0
Operating lease liability, current portion	60,980	189,647
Total current liabilities	10,404,932	8,205,459
Non-current liabilities
Operating lease liability, net of current portion	0	83,999
Total liabilities	10,404,932	8,289,458
Commitments and contingencies (Note 8)
Stockholders’ equity
Preferred stock, $0.001 par value; 200,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized at March 31, 2026 and December 31, 2025; 35,126,884 and 33,378,139 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	35,128	33,379
Additional paid-in-capital	208,360,523	206,865,282
Accumulated deficit	(199,383,847)	(186,874,486)
Total stockholders’ equity	9,011,804	20,024,175
Total liabilities and stockholders’ equity	$ 19,416,736	$ 28,313,633

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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