v3.26.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes stock-based activities under the 2017 Plan, 2019 Plan, and 2023 Stock Incentive Plans:

 

       Weighted   Weighted
   Shares   Average   Average
   Underlying   Exercise   Contractual
   Options   Price   Terms
            
Outstanding at December 31, 2023   6,102   $1,208.72   7.8 years
Granted   102,853   $2.925   9.6 years
Outstanding at December 31, 2024   108,955   $70.46   9.5 years
Granted   823,833   $1.78   9.6 years
Exercised   (125,000)  $1.33   9.6 years
Forfeited   (150,746)  $41.26   8.8 years
Outstanding at December 31, 2025   657,042   $4.32   9.6 years
              
Exercisable options at December 31, 2025   657,042   $4.32   9.6 years
              
Vested and expected to vest at December 31, 2025   657,042   $4.32   9.6 years
Schedule of Options Weighted Average Assumptions

Stock options granted during the years ended December 31, 2025 and 2024 were valued using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

   For the years ended December 31, 
   2025   2024 
         
Expected volatility   91.4 – 102.3%   100.8%
Risk-free interest rate   3.72 – 4.61%   3.80%
Expected dividend yield   0%   0%
Expected life of options in years   5.0    5.0 
Estimated fair value of options granted  $0.99 – 2.33    2.23 
Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense included in the accompanying consolidated statements of operations was as follows:

 

       
   For the years ended December 31, 
   2025   2024 
Research and development  $484,416   $338,022 
General and administrative   2,401,693    372,291 
Total stock-based compensation  $2,886,109   $710,313 
Schedule of Warrants

Terms of the warrants outstanding at December 31, 2025 are as follows:

 

   Initial  Expiration  Exercise   Warrants   Warrants   Warrants 
Issuance Date  Exercise Date  Date  Price   Issued   Exercised   Outstanding 
                       
January 14, 2022  July 10, 2022  January 11, 2027  $1,875.00    500    -    500 
                           
May 2, 2023  November 2, 2023  May 2, 2028  $234.375    424    -    424 
                           
November 30, 2023  May 27, 2024  May 2, 2028  $18.75    20,000    -    20,000 
                           
June 21, 2024  June 21, 2024  N/A  $0.001    452,253    452,253    - 
                           
June 21, 2024  June 21, 2024  December 21, 2029  $3.09    329,771    229,430    100,341 
                           
June 21, 2024  June 21, 2024  December 21, 2029  $3.06    39,573    -    39,573 
                           
December 9, 2024  December 9, 2024  N/A  $0.001    491,157    491,157    - 
                           
December 9, 2024  June 9, 2025  December 9, 2030  $2.03    480,721    317,673    163,048 
                           
December 9, 2024  June 9, 2025  December 9, 2030  $2.031    57,687    -    57,687 
                           
June 20, 2025  June 20, 2025  N/A  $0.001    137,838    137,838    - 
                           
June 20, 2025  December 20, 2025*  June 20, 2031*  $1.29    1,689,189    824,327    864,862 
                           
June 20, 2025  December 20, 2025*  June 20, 2031*  $3.00    844,570    114,862    729,708 
                           
June 20, 2025  December 20, 2025  June 20, 2031  $1.29    118,243    -    118,243 
                           
June 20, 2025  December 20, 2025  June 20, 2031  $3.00    59,119    -    59,119 
                           
July 25, 2025  July 25, 2025  N/A  $0.001    559,910    559,910    - 
                           
July 25, 2025  January 25, 2026*  July 25, 2031*  $1.66    974,241    229,719    744,522 
                           
July 25, 2025  July 25, 2025  N/A  $0.001    103,490    103,490    - 
                           
July 25, 2025  January 25, 2026*  July 25, 2031*  $1.52    744,680    699,088    45,592 
                           
July 25, 2025  January 25, 2026  July 25, 2031  $1.66    52,128    -    52,128 
                           
August 26, 2025  August 26, 2026  N/A  $0.001    983,111    983,111    - 
                           
November 6, 2025  November 6, 2025  N/A  $0.001    6,351,021    -    6,351,021 
                           
November 6, 2025  November 6, 2025  N/A  $0    145,105,094    -    145,105,094 
                           
November 6, 2025  January 30, 2026  January 30, 2031  $0.001    10,318,215    -    10,318,215 

 

*The exercise and expiration dates for the referenced common warrants were amended in October 2025 to reflect an exercise date of October 1, 2025. See above for further detail.