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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating expenses:        
Research and development $ 2,699,991 $ 4,124,450 $ 5,895,059 $ 24,936,032
General and administrative 2,744,545 4,474,577 9,905,824 13,179,719
Total operating expenses 5,444,536 8,599,027 15,800,883 38,115,751
Loss from operations (5,444,536) (8,599,027) (15,800,883) (38,115,751)
Interest (expense) income, net (38,033) 6 (62,604) (155,780)
Merger transaction costs (7,499,353)
Change in fair value of warrants (21,410) 38,788 (7,553) 6,815
Change in fair value of convertible promissory notes 48,468,678
Change in fair value of written call option derivative liabilities (213,214) (213,214)
Loss on issuance of commitment shares (890,000) (890,000)
Net (loss) income (5,503,979) (9,663,447) (15,871,040) 1,601,395
Net (loss) income attributable to common stockholders, basic (5,641,102) (6,075,379) (16,145,287) 5,044,907
Net loss attributable to common stockholders, diluted $ (5,641,102) $ (6,075,379) $ (16,145,287) $ (43,124,798)
Net (loss) income per share attributable to common stockholders, basic $ (0.03) $ (0.04) $ (0.09) $ 0.03
Net loss per share attributable to common stockholders, diluted $ (0.03) $ (0.04) $ (0.09) $ (0.29)
Weighted-average common stock outstanding, basic 184,307,169 154,167,090 182,541,433 145,655,205
Weighted-average common stock outstanding, diluted 184,307,169 154,167,090 182,541,433 148,154,361