v3.25.3
Going Concern
9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note 2. Going Concern

 

The accompanying unaudited condensed financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern. The Company has not established a source of revenues sufficient to cover its operating costs and will require significant additional capital to continue its research and development programs, including progressing clinical product candidates to commercialization and preparing for commercial-scale manufacturing and sales.

 

The Company’s net loss for the nine months ended September 30, 2025 and fiscal year ended December 31, 2024 was $3,888,087 and $5,016,264, respectively. Since inception, the Company has incurred historical losses and has an accumulated deficit of $19,228,194 at September 30, 2025 and $15,340,107 at December 31, 2024, respectively. At September 30, 2025, the Company had available cash and cash equivalents of $1,855,771 and net working capital of $1,436,889. The Company anticipates operating losses to continue for the foreseeable future due to, among other things, costs related to: research, development of product candidates, conducting preclinical studies and clinical trials, and administrative organization. These funds, and our funds available under existing government contracts, may not be sufficient to enable us to meet its obligations as they come due for a period of one year after the issuance date of these unaudited condensed financial statements.

 

If the Company is unable to obtain additional capital (which is not assured at this time), its long-term business plan may not be accomplished, and the Company may be forced to curtail or cease operations or file for bankruptcy protection or pursue a dissolution of the Company and liquidation of all of the Company's remaining assets. These factors individually and collectively raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited condensed financial statements do not include any adjustments that may result from this uncertainty.