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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2025
Commitments and Contingencies |
Commitments and Contingencies | Note 10. Commitments and Contingencies Licenses and Royalties The Company has commitments of approximately $230,000 as of December 31, 2025 over the next five years for several licensing agreements with partners and universities. Additionally, the Company is party to other agreements which include cash milestone payments, royalties and other fees payable, which are all contingent upon clinical or commercialization success. There can be no assurance that clinical or commercialization success will occur. Pursuant to an agreement with Hy Biopharma, the Company is obligated to pay Hy Biopharma a success-oriented milestone of $5 million in the event FDA approval is attained. Such payment will be payable in restricted securities of the Company provided such number of shares does not exceed 19.9% ownership of the Company’s outstanding stock. As of December 31, 2025, no other milestone or royalty payments have been paid or accrued. Leases Pursuant to an amendment in May 2025, the Company’s office lease has been extended through October 2028. The current monthly rent is $11,625 through October 2026 and increases to $11,883 in November 2026 and to $12,142 in November 2027 where it remains until expiration. Employment Agreements In May 2025, the Company entered into an amendment to Dr. Schaber’s employment agreement to increase the number of shares of common stock, from 2,084 to 200,000, issuable to Dr. Schaber immediately prior to the completion of a transaction, or series or a combination of related transactions, negotiated by its Board of Directors whereby, directly or indirectly, a majority of its capital stock or a majority of its assets are transferred from the Company and/or its stockholders to a third party. As a result of the above agreements, the Company has future contractual obligations over the next five years as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Research and | ​ ​ ​ | ​ | ​ ​ ​ | ​ ​ ​ | ​
Year | ​ ​ ​ | Development | ​ ​ ​ | Leases | ​ ​ ​ | Total
2026 | ​ | $ | 46,000 | ​ | $ | 140,017 | ​ | $ | 186,017
2027 | ​ |  | 46,000 | ​ |  | 143,117 | ​ |  | 189,117
2028 | ​ |  | 46,000 | ​ |  | 121,416 | ​ |  | 167,416
2029 | ​ | ​ | 46,000 | ​ | ​ | — | ​ | ​ | 46,000
2030 | ​ | ​ | 46,000 | ​ | ​ | — | ​ | ​ | 46,000
Total | ​ | $ | 230,000 | ​ | $ | 404,550 | ​ | $ | 634,550
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