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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 27,734,000 $ 20,922,000
Research and development tax credit receivable 1,704,000 1,181,000
Other tax receivable 760,000 228,000
Prepaid expenses and other current assets 472,000 331,000
TOTAL CURRENT ASSETS 30,670,000 22,662,000
Equipment, net 878,000
Operating lease – right of use asset 1,064,000 307,000
Other assets 746,000 79,000
Acquired in-process research and development intangible assets 16,514,000
TOTAL ASSETS 33,358,000 39,562,000
CURRENT LIABILITIES    
Accounts payable and accrued liabilities 6,875,000 6,539,000
Deferred liabilities 517,000
Operating lease, current liabilities 457,000 140,000
TOTAL CURRENT LIABILITIES 7,357,000 7,221,000
Long-term operating lease liabilities 623,000 244,000
TOTAL LIABILITIES 7,980,000 7,465,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 200,000,000 shares authorized, 26,585,258 and 22,280,451 shares issued and outstanding, respectively 27,000 22,000
Additional paid-in capital 229,888,000 195,754,000
Accumulated other comprehensive loss (764,000) (575,000)
Accumulated deficit (203,773,000) (163,104,000)
TOTAL STOCKHOLDERS’ EQUITY 25,378,000 32,097,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 33,358,000 39,562,000
Related Party    
CURRENT LIABILITIES    
Accounts payable and accrued liabilities – related parties $ 25,000 $ 25,000