| Schedule of Other Financial Information Regarding The Company’s Operating Segment |
See the consolidated condensed financial statements for other financial information regarding the Company’s operating segment.
|
|
|
Three Months Ended
June 30,
|
| |
|
2025
|
|
2024
|
|
Government grant revenue
|
|
$
|
—
|
|
|
$
|
25 |
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
Research personnel compensation costs, including stock-based
compensation
|
|
|
320 |
|
|
|
385 |
|
|
CRO and regulatory costs
|
|
|
—
|
|
|
|
—
|
|
|
Administrative personnel compensation costs, including stock-based compensation
|
|
|
401 |
|
|
|
350 |
|
|
Rent and office costs
|
|
|
118 |
|
|
|
80 |
|
|
Legal and accounting costs
|
|
|
110 |
|
|
|
179 |
|
|
Other expenses(1)
|
|
|
54 |
|
|
|
7 |
|
|
Total segment expenses
|
|
|
1,003 |
|
|
|
1,001 |
|
|
Loss from operations
|
|
|
(1,003 |
)
|
|
|
(976 |
)
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
Loss on change in the fair value of related party Tasly convertible debt
|
|
|
(57 |
)
|
|
|
(15 |
)
|
|
Interest expense
|
|
|
(1,289 |
)
|
|
|
(1,081 |
)
|
|
Other income
|
|
|
1 |
|
|
|
1 |
|
|
Total other expense, net
|
|
|
(1,345 |
)
|
|
|
(1,095 |
)
|
|
Net loss and comprehensive loss
|
|
$
|
(2,348 |
)
|
|
$
|
(2,071 |
)
|
|
|
|
Six Months Ended
June 30,
|
| |
|
2025
|
|
2024
|
|
Government grant revenue
|
|
$
|
—
|
|
|
$
|
25 |
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
Research personnel compensation costs, including stock-based compensation
|
|
|
658 |
|
|
|
818 |
|
|
CRO and regulatory costs
|
|
|
—
|
|
|
|
15 |
|
|
Administrative personnel compensation costs, including stock-based compensation
|
|
|
736 |
|
|
|
712 |
|
|
Rent and office costs
|
|
|
318 |
|
|
|
162 |
|
|
Legal and accounting costs
|
|
|
649 |
|
|
|
592 |
|
|
Other expenses(1)
|
|
|
66 |
|
|
|
41 |
|
|
Total segment expenses
|
|
|
2,427 |
|
|
|
2,340 |
|
|
Loss from operations
|
|
|
(2,427 |
)
|
|
|
(2,315 |
)
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
Loss on change in the fair value of related party Tasly convertible debt
|
|
|
(118 |
)
|
|
|
(11 |
)
|
|
Interest expense
|
|
|
(2,519 |
)
|
|
|
(2,161 |
)
|
|
Other income
|
|
|
—
|
|
|
|
6 |
|
|
Total other expense, net
|
|
|
(2,637 |
)
|
|
|
(2,166 |
)
|
|
Net loss and comprehensive loss
|
|
$
|
(5,064 |
)
|
|
$
|
(4,481 |
)
|
|
See the consolidated financial statements for other financial information regarding the Company’s operating segment.
|
|
|
Year Ended
December 31,
|
| |
|
2024
|
|
2023
|
|
Government grant revenue
|
|
$
|
100 |
|
|
$
|
45 |
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
Research personnel compensation costs, including stock-based compensation
|
|
|
1,350 |
|
|
|
1,641 |
|
|
CRO and regulatory costs
|
|
|
36 |
|
|
|
186 |
|
|
Administrative personnel compensation costs, including stock-based compensation
|
|
|
1,592 |
|
|
|
1,434 |
|
|
Rent and office costs
|
|
|
279 |
|
|
|
365 |
|
|
Legal and accounting costs
|
|
|
1,223 |
|
|
|
2,287 |
|
|
Other expenses(1)
|
|
|
120 |
|
|
|
202 |
|
|
Total segment expenses
|
|
|
4,600 |
|
|
|
6,115 |
|
|
Loss from operations
|
|
|
(4,500 |
)
|
|
|
(6,070 |
)
|
|
Other income (expenses)
|
|
|
|
|
|
|
|
|
|
Loss on change in the fair value of related party Tasly convertible debt
|
|
|
(311 |
)
|
|
|
(22 |
)
|
| Interest expense (including related parties amounts of $2,400 and $2,530 for the year ended December 31, 2024 and 2023, respectively) |
|
|
(4,424 |
) |
|
|
(4,283 |
) |
|
Other income
|
|
|
5 |
|
|
|
94 |
|
|
Total other expense, net
|
|
|
(4,730 |
)
|
|
|
(4,211 |
)
|
|
Net loss and comprehensive loss
|
|
$
|
(9,230 |
)
|
|
$
|
(10,281 |
)
|
|
| Schedule of Company’s Performance and Making Key Decisions Regarding Resource Allocation |
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net loss and total assets, which include the following:
|
|
|
As of
June 30,
2025
|
|
As of
December 31,
2024
|
|
Trust Account
|
|
$
|
1,935,561 |
|
$
|
8,330,835 |
|
Cash
|
|
$
|
—
|
|
$
|
16,204 |
|
Restricted Cash
|
|
$
|
1,751 |
|
$
|
—
|
|
|
|
For the Three Months Ended
June 30,
|
|
For the Six Months Ended
June 30,
|
| |
|
2025
|
|
2024
|
|
2025
|
|
2024
|
|
Formation and operating costs
|
|
967,084 |
|
253,130 |
|
1,550,665 |
|
723,971 |
|
Interest income earned on cash and marketable securities held in Trust Account
|
|
15,159 |
|
108,520 |
|
95,084 |
|
225,184 |
|
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net (loss) income and total assets, which include the following:
|
|
|
For the
Year Ended
December 31,
2024
|
|
For the
Year Ended
December 31,
2023
|
|
Trust Account
|
|
$
|
8,330,835 |
|
$
|
10,873,406 |
|
Cash
|
|
$
|
16,204 |
|
$
|
4,519 |
|
|
|
For the
Year Ended
December 31,
2024
|
|
For the
Year Ended
December 31,
2023
|
|
General and administrative expenses
|
|
$
|
(1,351,038 |
)
|
|
$
|
(1,508,683 |
)
|
|
Interest earned on the Trust Account
|
|
$
|
425,416 |
|
|
$
|
2,248,538 |
|
|