v3.26.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Schedule of Anti-dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share

The following table sets forth the outstanding potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because to do so would be anti-dilutive:

 

   2026   2025 
   For the Three Months Ended 
   March 31, 
   2026   2025 
Warrants [1]    6,911,773    3,852,258 
Convertible notes [2]  6,304,795    - 
Warrant liabilities [3]   2,777,778    - 
Options   387,328    9,603 
Series A Convertible Preferred Stock   72    72 
Series B Convertible Preferred Stock   2,067    2,067 
Total potentially dilutive shares   16,383,812    3,864,000 

 

[1] As part of the InflamaCORE, LLC license agreement, warrants to purchase 342 shares of common stock are to be issued upon the satisfaction of certain milestones and, accordingly, are not included in the amount currently reported.
[2] The Convertible Notes have embedded conversion options that result in the automatic issuance of common stock upon the consummation of certain qualifying transactions. The conversion price is a function of the implied common stock price associated with the qualifying transaction. For the purpose of disclosing the potentially dilutive securities in the table above, we used the number of shares of common stock issuable if a qualifying transaction occurred with an implied common stock price of $0.16, derived from a 20% discount to the fair value of the common stock of $0.20 per share as of March 31, 2026.
[3] The Warrant Liabilities have an exercise price derived as function of the implied common stock price upon the consummation of certain qualifying transactions or VWAP. For the purpose of disclosing the potentially dilutive securities in the table above, we used the number of shares of common stock issuable if a qualifying transaction occurred with an implied common stock price of $0.18 per share, derived from a 10% discount to the fair value of the common stock of $0.20 per share as of March 31, 2026.