v3.25.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these unaudited condensed financial statements. Actual results could differ from those estimates.
Adoption of New Accounting Pronouncements

Adoption of New Accounting Pronouncements

 

During the three months ended September 30, 2025, no new accounting pronouncement was issued or became effective that had, or is expected to have, a material impact on these unaudited condensed financial statements.
Concentration of Credit Risk

Concentration of Credit Risk

 

The Company’s grant revenues and grant receivables are from the National Institute of Health (the “NIH”). The NIH is an agency of the United States Department of Health & Human Services, and the Company believes amounts are fully collectible from this agency. Contract revenues were $216,117 for the nine months ended September 30, 2025, all of which have been collected, and $0 for the three months ended September 30, 2025.
Earnings Per Share

Earnings Per Share

 

Basic net loss per share of common stock of the Company, par value $0.0001 per share (the “Common Stock”), is computed by dividing the net loss for the period by the weighted-average number of shares of Common Stock outstanding during the period. Diluted net loss per share of Common Stock is computed giving effect to all dilutive Common Stock equivalents, consisting of stock options, preferred stock, and warrants. Diluted net loss per share of Common Stock for the three and nine months ended September 30, 2025 and 2024 is the same as basic net loss per share, as the Common Stock equivalents were anti-dilutive due to the net loss.

 

At September 30, 2025 and 2024 the Common Stock equivalent shares were as follows:

 

         
   September 30, 
   2025   2024 
Shares of Common Stock issuable upon exercise of options   361,624    361,624 
Shares of Common Stock issuable upon exercise of warrants   415,974    331,921 
Shares of Common Stock issuable upon conversion of Series B preferred stock   53,096    — 
Shares of Common Stock issuable upon conversion of Series C preferred stock   —    — 
Shares of Common Stock issuable upon exercise of Warrants for Series B preferred stock and subsequent conversion to Common Stock   3,333,319    — 
Common Stock equivalents excluded from diluted net loss per share   4,164,013    693,545