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Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2025

Stockholders’ Equity [Abstract]

Schedule of Estimated Using the Black-Scholes Option-Pricing Model

The fair value of the January 2023 Existing Warrants on the modification date was estimated using the Black-Scholes option-pricing model with the following assumptions:

		March 27, 2024 to April 1, 2024
Exercise price		$	1.50 to $5.00
Term (years)			4.25
Expected stock price volatility			109.8	%
Risk-free rate of interest			4.18% to 4.34%

The fair value of option grants was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

		June 4, 2025
Exercise price		$	1.00
Term (years)			2.0
Expected stock price volatility			129.68	%
Risk-free rate of interest			3.87	%

Schedule of Warrant Activity

A summary of warrant activity for the six months ended June 30, 2025 is as follows:

		Number of Warrants				Weighted Average Exercise Price				Total Intrinsic Value				Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2024			5,203,243			$	2.62				—				3.52
Granted			300,000				1.00				—				—
Expired			(12,491	)			55.96				—				—
Exercised			(3,750,000	)			1.50				—				—
Outstanding as of June 30, 2025			1,740,752				4.38				51,000				2.88
Warrants exercisable as of June 30, 2025			1,740,752			$	4.38			$	51,000				2.88

Schedule of Restricted Stock Awards Granted

A summary of the Company’s restricted stock awards granted under the equity incentive plans during the three months ended June 30, 2025 and 2024 is as follows:

		For the Six Months Ended June 30, 2025								For the Six Months Ended June 30, 2024
		Number of Restricted Stock Awards				Weighted Average Grant Date Fair Value				Number of Restricted Stock Awards				Weighted Average Grant Date Fair Value
Nonvested at beginning of period			—				—				1,693				3.16
Vested			—				—				—				—
Nonvested at end of period			—				—				1,693				3.16

Schedule of Black-Scholes Option-pricing Model Assumptions

The fair value of option grants was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

		Six Months Ended June 30,
		2025				2024
Exercise price		$	1.55			$	1.36
Term (years)			5.0				5.0
Expected stock price volatility			118.32	%			120.00	%
Risk-free rate of interest			4.59	%			4.02	%

Schedule of Option Activity

A summary of option activity under the Company’s equity incentive plans for the six months ended June 30, 2025 is presented below.

		Number of Shares				Weighted Average Exercise Price				Total Intrinsic Value				Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2024			1,090,362			$	4.78			$	—				9.1
Employee options issued			170,000				1.55				—				—
Outstanding as of June 30, 2025			1,260,362			$	4.34			$	196,390				8.7
Options vested and exercisable as of June 30, 2025			1,260,362			$	4.34			$	196,390				8.7

Schedule of Stock Options Outstanding

A summary of stock options outstanding at June 30, 2025 by price range is as follows:

		Options outstanding and exercisable
Range of Exercise Prices		Number of Shares				Weighted Average Remaining Contractual Life (in years)				Weighted Average Exercise Price
Up to $2.59			1,183,000				8.8			$	1.24
$14.75 to $76.25			62,562				6.2			$	32.95
Above $76.25			14,800				4.5			$	131.50
Options outstanding and exercisable as of June 30, 2025			1,260,362				8.7			$	4.34

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the three and six months ended June 30, 2025 and 2024 was as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Employee stock option awards		$	—			$	—			$	219,929			$	512,685
Non-employee restricted stock awards			—				665				—				1,330
Non-employee stock warrant awards			55,525				6,389				55,525				6,389
		$	55,525			$	7,054			$	275,454			$	520,404

Schedule of Stock-Based Compensation Expense Included Within Research and Development, Professional Fees and General and Administrative Expenses

For the three and six months ended June 30, 2025 and 2024, the amount of stock-based compensation expense included within research and development, professional fees and general and administrative expenses was as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Research and development		$	—			$	6,389			$	—			$	6,389
Professional fees			55,525				—				55,525				—
General and administrative			—				665				219,929				514,015
		$	55,525			$	7,054			$	275,454			$	520,404

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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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