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Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2025
Commitments and Contingencies |
Commitments and Contingencies | (6) Commitments and Contingencies (a) Research and Development The Company has entered into contracts with contract research organizations (“CROs”) and contract manufacturers (“CMOs”) related to the Company’s clinical trials. These contracts generally require upfront payments, milestone payments, and pass through cost reimbursements, to be made. While the contracts are generally cancellable with (written) notice, the Company is obligated to make payments for services rendered through the termination date of the project with any applicable CRO/CMO. (b) Leases The Company maintains one short-term lease associated with occupying its corporate headquarters. Total rental expense was $24,844 and $24,238 for the three months ended June 30, 2025 and 2024 and $57,582 and $58,113 for the six months ended June 30, 2025 and 2024. (c) Employment Agreements The Company has an agreement with its Chief Executive Officer that provides for severance payments to the employee upon termination of the agreement by the Company for any reason other than for cause, death, or disability or by the employee for good reason. The maximum aggregate severance payments under the agreement were estimated to be $1.2 million at June 30, 2025. (d) Litigation The Company is subject, from time to time, to claims by third parties under various legal disputes. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows.

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