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Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Expense Categories Regularly Reviewed CODM

The table below summarizes the significant expense categories regularly reviewed by the CODM for the years ended December 31, 2024 and 2023:

		Years Ended December 31,
		2024				2023
Collaboration revenue		$	3,554,061			$	6,002,206
Less:
Research and development expenses:
Preclinical product candidates			8,313,290				3,314,311
Sponsored research			556,265				256,571
Internal research and development expenses, including stock-based compensation			2,996,099				1,930,645
Total research and development expenses			11,865,654				5,501,527
General and administrative expenses:
Employee related costs			2,685,556				2,569,394
Stock-based compensation			1,588,667				545,149
Other general and administrative expenses (a)			4,611,534				4,718,938
Total general and administrative expenses			8,885,757				7,833,481
In-process research and development			25,000				543,186
Depreciation			27,361				27,361
Other income, net			(1,648,637	)			(639,365	)
Pre-tax loss			(15,601,074	)			(7,263,984	)
Income tax benefit (expense)			720,287				(723,852	)
Net loss		$	(14,880,787	)		$	(7,987,836	)

(a) Other general and administrative costs include professional fees, investor relation costs, taxes, licenses, and insurance.

Summary of Changes in Deferred Revenue

The following table summarizes the changes in deferred revenue (in thousands):

		Years Ended December 31,
		2024				2023
Beginning balance		$	1,497,794			$	-
Deferral of revenue			780,749				1,520,940
Recognition of unearned revenue			(484,810	)			(23,146	)
Ending balance		$	1,793,733			$	1,497,794

Schedule of Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares of Common Stock Outstanding

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:

		As of December 31,
		2024				2023
Common stock warrants			815,677				2,492,241
Stock options			2,228,658				1,134,145
			3,044,335				3,626,386

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