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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
License revenue $ 500,000 $ 500,000 $ 7,500,000
Royalty revenue 122,849 89,565 216,713 206,738
Total revenues 622,849 89,565 716,713 7,706,738
Operating expenses:        
Research and development 2,136,769 1,874,721 3,198,341 4,693,646
General and administrative 890,433 1,507,412 2,012,910 3,083,131
Total operating expenses 3,027,202 3,382,133 5,211,251 7,776,777
Operating loss (2,404,353) (3,292,568) (4,494,538) (70,039)
Other income (loss):        
Interest and investment income 198,637 308,845 424,149 640,209
Unrealized loss on warrant liability (84,430) (124,502)
Total other income 198,637 224,415 424,149 515,707
Income (loss) before income tax expense (2,205,716) (3,068,153) (4,070,389) 445,668
Income tax expense (481) (200) (681)
Net loss attributable to common shareholders Net income (loss) attributable to common shareholders $ (2,205,716) $ (3,068,634) $ (4,070,589) $ 444,987
Basic earnings (loss) per share attributable to common stock $ (0.41) $ (0.57) $ (0.76) $ 0.08
Weighted average common shares outstanding, basic 5,351,957 5,343,922 5,350,267 5,329,876
Diluted earnings (loss) per share attributable to common stock $ (0.41) $ (0.56) $ (0.76) $ 0.10
Weighted average common shares outstanding, diluted 5,351,957 5,343,922 5,350,267 5,459,204
Comprehensive income (loss):        
Net income (loss) $ (2,205,716) $ (3,068,634) $ (4,070,589) $ 444,987
Net unrealized income (loss) on marketable investment securities (6,764) 885 (10,381) (16,978)
Comprehensive income (loss) $ (2,212,480) $ (3,067,749) $ (4,080,970) $ 428,009