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v3.25.2

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes |
Schedule of federal and state statutory tax rates and the provision for income tax benefit | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
State & Local | ​ |  | (409,114) | ​ |  | (1,767,803)
Income tax benefit | ​ | $ | (409,114) | ​ | $ | (1,767,803)
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Net operating loss carry forwards | ​ | $ | 28,438,000 | ​ | $ | 27,522,000
Orphan drug and research and development credit carry forwards | ​ |  | 9,617,000 | ​ |  | 8,921,000
Equity based compensation | ​ |  | 227,000 | ​ |  | 246,000
Intangibles | ​ |  | 1,401,000 | ​ |  | 1,409,000
Capitalized research and development | ​ |  | 2,482,000 | ​ |  | 2,311,000
Lease liability | ​ |  | 69,000 | ​ |  | 66,000
Other | ​ | ​ | (85,000) | ​ | ​ | (12,000)
Total | ​ |  | 42,149,000 | ​ |  | 40,463,000
Valuation allowance | ​ | ​ | (42,087,000) | ​ | ​ | (40,398,000)
Net deferred tax assets | ​ | ​ | 62,000 | ​ | ​ | 65,000
Right of use asset | ​ | ​ | (62,000) | ​ | ​ | (65,000)
Total gross deferred tax liabilities | ​ |  | (62,000) | ​ |  | (65,000)
Net deferred tax assets | ​ | $ | — | ​ | $ | —
Schedule of federal and state statutory tax rates and the provision for income tax benefit | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |
Federal tax at statutory rate |  | (21.0) | % | (21.0) | %
State tax benefits, plus sale of NJ NOL, net of federal benefit |  | (12.2) |  | (21.6) | ​
Foreign tax rate difference |  | — |  | 0.1 | ​
Orphan drug and research and development credits |  | (8.1) |  | (2.0) | ​
Permanent differences |  | 1.3 |  | 0.9 | ​
Foreign NOL adjustments |  | 0.6 |  | 0.7 | ​
Expiration of tax attributes |  | 15.2 |  | 14.2 | ​
Change in valuation allowance |  | 19.5 |  | 6.3 | ​
Income tax benefit |  | (4.7) | % | (22.4) | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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