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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured on Recurring Basis | The following table summarizes the Company's financial instruments measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024.
|  |  |  | Fair Value Measurements at Reporting Date Using
|  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
As of September 30, 2025 |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash Equivalents: |  |  |  |  |  |  |  |
Money Market Funds |  | $ | 3,633,176 |  |  | $ | 3,633,176 |  |  | $ | — |  |  | $ | — |
Total Cash Equivalents Measured at Fair Value |  | $ | 3,633,176 |  |  | $ | 3,633,176 |  |  | $ | — |  |  | $ | — |
Short-term Investments: |  |  |  |  |  |  |  |
Government Agency Securities |  | $ | 10,209,139 |  |  | $ | — |  |  | $ | 10,209,139 |  |  | $ | — |
Corporate Debt Securities |  | 3,657,407 |  |  | — |  |  | 3,657,407 |  |  | — |
Total Short-term Investments Measured at Fair Value |  | $ | 13,866,546 |  |  | $ | — |  |  | $ | 13,866,546 |  |  | $ | — |
Total Assets Measured at Fair Value |  | $ | 17,499,722 |  |  | $ | 3,633,176 |  |  | $ | 13,866,546 |  |  | $ | — |
|  |  |  | Fair Value Measurements at Reporting Date Using
|  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
As of December 31, 2024 |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash Equivalents: |  |  |  |  |  |  |  |
Money Market Funds |  | $ | 562,604 |  |  | $ | 562,604 |  |  | $ | — |  |  | $ | — |
US Treasury Securities |  | 691,917 |  |  | — |  |  | 691,917 |  |  | — |
Total Cash Equivalents Measured at Fair Value |  | $ | 1,254,521 |  |  | $ | 562,604 |  |  | $ | 691,917 |  |  | $ | — |
Short-term Investments: |  |  |  |  |  |  |  |
US Treasury Securities |  | $ | 92,314 |  |  | $ | — |  |  | $ | 92,314 |  |  | $ | — |
Government Agency Securities |  | 18,540,550 |  |  | — |  |  | 18,540,550 |  |  | — |
Corporate Debt Securities |  | 4,062,673 |  |  | — |  |  | 4,062,673 |  |  | — |
Asset Backed Securities |  | 304,223 |  |  | — |  |  | 304,223 |  |  | — |
Total Short-term Investments Measured at Fair Value |  | $ | 22,999,760 |  |  | $ | — |  |  | $ | 22,999,760 |  |  | $ | — |
Total Assets Measured at Fair Value |  | $ | 24,254,281 |  |  | $ | 562,604 |  |  | $ | 23,691,677 |  |  | $ | — |
Schedule of Liabilities Measured on Recurring Basis | The following table provides information for liabilities measured at fair value on a recurring basis using Level 3 inputs:
| September 30, 2025 |  | December 31, 2024
Contingent Consideration: |  |  |
Non-current | $ | 2,883,423 |  |  | $ | 4,191,490 |
Total Contingent Consideration | $ | 2,883,423 |  |  | $ | 4,191,490 |
Schedule of Unobservable Level 3 Inputs | After the initial valuation, the Company generally uses its best estimate to measure contingent consideration at each subsequent reporting period using the following unobservable Level 3 inputs:
| Valuation Technique |  | Unobservable Inputs |  | September 30, 2025 |  | December 31, 2024
| Discounted cash flow |  | Payment discount rate |  | 13.9 | % |  | 15.1 | %
Bayon |  |  | Payment period |  | 2027 - 2030 |  | 2027 - 2029
Panoptes |  |  | Payment period |  | 2029 - 2031 |  | 2027 - 2028
Bayon |  |  | Probability of success for payment |  | 25% - 45% |  | 48% - 77%
Panoptes |  |  | Probability of success for payment |  | 30% - 33% |  | 30% - 33%
The Company engaged a third-party valuation firm to assist management to perform its quantitative assessment of in-process R&D as of August 31, 2025, which includes the following unobservable Level 3 inputs:
| Valuation Technique |  | Unobservable Inputs |  | Discount Rate
KIO-104 | Multi-Period Excess Earnings Method |  | Probability of success for next development phase | 17% to 36% |  | 35.5 | %
KIO-301 | Multi-Period Excess Earnings Method |  | Probability of success for next development phase | 25% to 45% |  | 35.5 | %

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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