v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 10,051,003 $ 2,068,083
Accounts receivable 5,108 912
Tax credits receivable 149,384 140,383
Prepaid expenses 554,646 809,949
Total current assets 10,760,141 3,019,327
Property and equipment, net 530,438 548,591
Financing lease right-of-use asset, net 5,171 9,041
Operating lease right-of-use asset, net 329,353 404,444
Intangible assets, net 334,522 316,673
Deferred patent costs 119,951 679,908
Other assets 47,228 47,402
Total assets 12,126,804 5,025,386
Current liabilities:    
Accounts payable 932,217 399,356
Income tax payable 0 6,256
Current financing lease liability 5,850 10,111
Current operating lease liability 240,740 255,776
Insurance premium financing liability 100,463 198,983
Accrued expenses 270,511 197,484
Total current liabilities 1,549,781 1,067,966
Long-term operating lease liability 96,740 156,190
Total liabilities 1,646,521 1,224,156
Commitments and contingencies (Note 10)
Stockholders' equity    
Preferred stock; $0.0001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; 10,485 and 0 shares issued and outstanding at March 31, 2026 and December 31, 2025; respectively. 0 0
Common stock; $0.0001 par value, 200,000,000 shares authorized at March 31, 2026 and December 31, 2025, 16,192,438 and 10,740,697 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively. 1,619 1,074
Additional paid-in capital 82,927,100 72,321,352
Accumulated deficit (72,448,436) (68,521,196)
Total stockholders' equity 10,480,283 3,801,230
Total liabilities and stockholders' equity $ 12,126,804 $ 5,025,386