XML 32 R20.htm IDEA: XBRL DOCUMENT v3.25.1
STOCK AWARDS, WARRANTS AND OPTIONS (Tables)
3 Months Ended
Mar. 31, 2025
Summary of the activity of restricted stock awards

Weighted Average

Number of

Grant Date

    

RSAs

    

Fair Value

Outstanding at December 31, 2024

 

$

Granted

 

17,210

 

14.96

Vested

 

(17,210)

 

14.96

Expired/Cancelled

 

 

Outstanding at March 31, 2025

 

$

Warrant  
Schedule of warrant activity

Weighted Average

    

Warrants

    

Exercise Price

Outstanding at December 31, 2024

 

4,935,621

$

5.70

Granted

Exercised

(699)

5.70

Outstanding at March 31, 2025

 

4,934,922

$

5.70

Schedule of outstanding warrants

Warrants Outstanding

March 31, 

December 31, 

Exercise Price

Expiration

Type

    

Grant Date

    

2025

    

2024

    

per Share

    

Date

Common Warrants

10/3/2023

4,934,922

4,935,621

$

5.70

10/3/2030

4,934,922

4,935,621

Employee Stock Option  
Schedule of fair value of option using Black-Scholes option

    

Three months ended March 31, 

 

2025

2024

Expected volatility

 

112 - 114

%  

109 - 119

%

Expected term

 

5 - 6 years

 

5 - 7 years

Dividend yield

 

0

%  

0

%

Risk-free interest rates

 

4.3 - 4.5

%  

3.9 - 4.3

%

Schedule of employee and non-employee stock based compensation expense

Three months ended March 31, 

    

2025

    

2024

General and administrative

$

3,000,814

$

2,277,685

Research and development

 

2,738,585

 

987,727

Total

$

5,739,399

$

3,265,412

Schedule of employee and non-employee stock option

Number of

Weighted Average

Aggregate

    

Options

    

Exercise Price

    

Intrinsic Value

Outstanding at December 31, 2024

 

10,731,183

$

4.38

 

Granted

 

1,965,527

 

14.96

 

  

Exercised

 

(91,071)

 

2.73

 

$

1,013,399

Expired/Cancelled

 

(111,792)

 

6.23

 

  

Outstanding at March 31, 2025

 

12,493,847

$

6.04

$

56,520,694

Exercisable at March 31, 2025

 

7,176,223

$

3.89

$

41,437,055