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Stockholders’ Equity (Tables)

9 Months Ended

Sep. 30, 2025

Stockholders’ Equity [Abstract]

Schedule of Changes in Options

A summary of the changes in options during the three months ended September 30, 2025 is as follows:

		Number of Options				Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding and expected to vest at December 31, 2024			12,263,017			$	16.61				6.01			$	-
Granted			3,103,567			$	0.65				-			$
Cancelled			(1,216,598	)		$	17.39				-			$	-
Outstanding at September 30, 2025			14,149,986			$	13.05				6.73			$	4,218,100
Options exercisable at September 30, 2025			9,732,827			$	17.96				5.72			$	242,635

Schedule of Changes in Outstanding Warrants

A summary of the changes in outstanding warrants during the nine months ended September 30, 2025 is as follows:

		Number of Shares				Weighted Average Exercise Price Per Share
Outstanding Warrants at December 31, 2024			1,382,613			$	17.02
Expired			(631,705	)			-
Outstanding at September 30, 2025			750,908			$	28.86
Warrants Vested at September 30, 2025			745,658			$	28.87

Schedule of Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense which includes restricted stock, stock options, and warrants in the unaudited consolidated statements of operations for the nine months ended September 30, 2025 and 2024 (rounded to nearest $00):

		Nine Months Ended September 30, 2025				Nine Months Ended September 30, 2024
Research and development		$	1,419,500			$	5,007,300
General and administrative			10,114,500				18,450,700
Total		$	11,534,000			$	23,458,000

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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-Topic 505
-SubTopic 10
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-Section 50
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