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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 32,659,770 $ 82,301,813
Marketable securities 45,405,126  
Restricted cash 100,000 100,000
Prepaid expenses and other current assets 941,883 697,676
Total current assets 79,106,779 83,099,489
Goodwill 14,869,399 14,869,399
Deferred offering costs 50,978  
Total assets 94,027,156 97,968,888
Current liabilities    
Accounts payable 2,118,225 639,707
Accrued expenses and other current liabilities 2,363,968 1,650,766
Total current liabilities 4,482,193 2,290,473
Warrant Liability 278,596,901 171,464,575
Liability related to the sale of future royalties 60,000,000 60,000,000
Total liabilities 343,079,094 233,755,048
Commitments and contingencies (Note 9)
Stockholders' deficit    
Common stock; $0.0001 par value; 250,000,000 shares authorized; 43,841,998 shares issued and outstanding as of March 31, 2026 and 43,274,398 shares issued and outstanding as of December 31, 2025 4,384 4,327
Additional paid-in capital 560,185,880 548,047,331
Accumulated deficit (814,204,124) (688,799,740)
Total stockholders' deficit (254,013,860) (140,748,082)
Total liabilities, redeemable preferred stock and stockholders' deficit 94,027,156 97,968,888
Series A Convertible Preferred Stock    
Redeemable preferred stock    
Series A convertible preferred stock; $0.0001 par value; 200,000 shares authorized; 3,296 issued and outstanding; liquidation preference of $0 as of March 31, 2026 and December 31, 2025 $ 4,961,922 $ 4,961,922