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Stockholders’ Equity
 3 Months Ended
Jun. 30, 2025
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 4 – STOCKHOLDERS’ EQUITY

 

ATM Offering

 

In November 2023, the Company entered into a Sales Agreement (the “ATM Agreement”) with Leerink Partners LLC (Leerink) under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, for aggregate gross proceeds of up to $6,500,000 through an “at the market offering” program under which Leerink will act as sales agent or principal. The ATM Agreement provides that Leerink will be entitled to compensation for its services equal to 3.0% of the gross proceeds from sales of any shares of common stock under the ATM Agreement. The Company has no obligation to sell any shares under the ATM Agreement and may, at any time, suspend solicitation and offers under the ATM Agreement. During the three months ended June 30, 2025, under the ATM Agreement, the Company sold 1,000,000 shares of common stock for net proceeds of $727,500.

 

Warrants

 

As of June 30, 2025, the Company had the following common stock purchase warrants outstanding (share amounts in thousands):

 

   Number of
Shares		   Exercise
Price		   Expiration
Balance as of March 31, 2025   18,561         
Warrants exercised   (531)  $0.01   —
Balance as of June 30, 2025   18,030         

 

As of March 31, 2025, the Company had the following warrants outstanding (share amounts in thousands):

 

Type  Number of
Shares		   Exercise
Price		   Expiration
Common stock   531   $0.01   —
Common stock   6,508    1.12   March 2029
Common stock   3,565    1.22   May 2028
Common stock   484    1.32   May 2027
Common stock   875    1.40   March 2029
Common stock   381    1.875   November 2027
Common stock   768    6.00   January 2027 - February 2027
Common stock   4,011    6.60   February 2027
Common stock   1,438   $6.60   November 2027
Total   18,561         

 

Other

 

During the three months ended June 30, 2025, the Company issued 10,000 shares of common stock with a fair value of approximately $11,000 to a service provider.