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Fair Value Disclosures (Tables)

9 Months Ended

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

%

X

- 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

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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

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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

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