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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure    
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and Item 402(v) of Regulation S-K, which was adopted by the SEC in 2022, we are providing the following information regarding the relationship between “compensation actually paid” (“CAP”) to our principal executive officer (“PEO”) and non-PEO Named Executive Officers (“NEOs”) and certain financial performance of the Company for the fiscal years listed below.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year(1)
 
 
Summary
Compensation Table
Total for
PEO(2)
 
 
Compensation
Actually Paid
to PEO(2)
 
 
Average Summary
Compensation Table
Total for Non-PEO
NEOs(3)
 
 
Average
Compensation
Actually Paid to
Non-PEO
NEOs(3)
 
 
Value of
Initial Fixed
$100 Investment
Based On Total
Stockholder Return(4)
 
 
Net
Loss(5)
2024
 
 
$578,376
 
 
$578,376
 
 
$460,078
 
 
$384,412
 
 
$37
 
 
$(8,241,501)
2023
 
 
$839,398
 
 
$839,398
 
 
$367,075
 
 
$367,075
 
 
$42
 
 
$(14,626,683)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Information for years prior to 2023 is not included because the Company was not a public reporting entity before August 9, 2023.
(2)
Amounts reported for our Chief Executive Officer, Mr. Brian Carrico.
(3)
Amounts represent (i) the average of our Chief Financial Officer, Mr. Tim Henrichs, Chief Regulatory Officer, Dr. Thomas Carrico, and Chief Medical Officer, Dr. Adrian Miranda, for fiscal year 2024 and (ii) the average of our Chief Regulatory Officer, Dr. Thomas Carrico, and Chief Medical Officer, Dr. Adrian Miranda, for fiscal year 2023. Mr. Henrichs' employment began on February 5, 2024.
(4)
Amount represents the total stockholder return from August 9, 2023, our first day of trading as a public company, through the last day of trading in the fiscal year.
(5)
Amount represents our net loss as reported in our Annual Report on Form 10-K.
 
 
 
 
 
 
 
 
 
 
2024
 
 
2023
 
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
Summary Compensation Table Total
 
 
$578,376
 
 
$460,078
 
 
$839,398
 
 
$367,075
Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year
 
 
—
 
 
(75,667)
 
 
—
 
 
—
Compensation Actually Paid
 
 
$578,376
 
 
$384,412
 
 
$839,398
 
 
$367,075
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Named Executive Officers, Footnote
(2)
Amounts reported for our Chief Executive Officer, Mr. Brian Carrico.
(3)
Amounts represent (i) the average of our Chief Financial Officer, Mr. Tim Henrichs, Chief Regulatory Officer, Dr. Thomas Carrico, and Chief Medical Officer, Dr. Adrian Miranda, for fiscal year 2024 and (ii) the average of our Chief Regulatory Officer, Dr. Thomas Carrico, and Chief Medical Officer, Dr. Adrian Miranda, for fiscal year 2023. Mr. Henrichs' employment began on February 5, 2024.
  
PEO Total Compensation Amount $ 578,376 $ 839,398
PEO Actually Paid Compensation Amount $ 578,376 839,398
Adjustment To PEO Compensation, Footnote
 
 
 
 
 
 
 
 
 
 
2024
 
 
2023
 
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
Summary Compensation Table Total
 
 
$578,376
 
 
$460,078
 
 
$839,398
 
 
$367,075
Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year
 
 
—
 
 
(75,667)
 
 
—
 
 
—
Compensation Actually Paid
 
 
$578,376
 
 
$384,412
 
 
$839,398
 
 
$367,075
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Non-PEO NEO Average Total Compensation Amount $ 460,078 367,075
Non-PEO NEO Average Compensation Actually Paid Amount $ 384,412 367,075
Adjustment to Non-PEO NEO Compensation Footnote
 
 
 
 
 
 
 
 
 
 
2024
 
 
2023
 
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
 
 
PEO
 
 
Other Non-PEO
NEOs
(Average)
Summary Compensation Table Total
 
 
$578,376
 
 
$460,078
 
 
$839,398
 
 
$367,075
Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year
 
 
—
 
 
(75,667)
 
 
—
 
 
—
Compensation Actually Paid
 
 
$578,376
 
 
$384,412
 
 
$839,398
 
 
$367,075
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Compensation Actually Paid vs. Total Shareholder Return  
Compensation Actually Paid vs. Net Income  
Total Shareholder Return Amount $ 37 42
Net Income (Loss) $ (8,241,501) $ (14,626,683)
PEO Name Mr. Brian Carrico Mr. Brian Carrico
Additional 402(v) Disclosure
The illustration below compares our cumulative TSR over the period from our initial public offering date to December 31, 2024.
  
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ 0 $ 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ (75,667) $ 0