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Balance Sheet Details | 3 Months Ended
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Mar. 31, 2026
Balance Sheet Details [Abstract] |
Balance Sheet Details | Note 4 — Balance Sheet Details Inventories Inventories, which primarily relate to Proclarix product as of March 31, 2026 and Proclarix products as of December 31, 2025, consisted of the following:
|  | March 31, 2026 |  |  | December 31, 2025 |
Raw materials |  | $ | 95,570 |  |  | $ | 103,431 |
Finished goods |  |  | 42,072 |  |  |  | 46,530 |
Total |  | $ | 137,642 |  |  | $ | 149,961 |
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following as of March 31, 2026, and December 31, 2025:
|  | March 31, 2026 |  |  | December 31, 2025 |
Prepaid insurance |  | $ | 296,475 |  |  | $ | 136,739 |
VAT taxes receivable |  |  | 46,352 |  |  |  | 31,955 |
Prepaid other |  |  | 79,102 |  |  |  | 170,552 |
Other receivable |  |  | 9,986 |  |  |  | 10,047 |
Total |  | $ | 431,915 |  |  | $ | 349,293 |
Goodwill Goodwill consisted of the following as of March 31, 2026 and December 31, 2025:
Balance as of December 31, 2024 |  |  | 27,048,973 |
Impairment loss |  |  | (11,512,000 | )
Foreign currency translation |  |  | 3,012,032 |
Balance as of December 31, 2025 |  | $ | 18,549,005 |
Impairment loss |  |  | (8,134,000 | )
Foreign currency translation |  |  | (211,532 | )
Balance as of March 31, 2026 |  | $ | 10,203,473 |
Impairments for three months ended March 31, 2026 and 2025 During the three months ended March 31, 2026 and 2025, the Company’s stock price and market capitalization declined, and the Company determined that this was an indicator of a potential impairment of its goodwill. Accordingly, as of March 31, 2026 and 2025, the Company performed quantitative analysis to identify and measure the amount of impairment losses to be recognized. The Company recognized goodwill impairment losses of approximately $8.1 million and $10.9 million for the three months ended March 31, 2026 and 2025, respectively. Under the income approach, the Company estimated the fair value of the reporting unit based on the present value of estimated future cash flows, which the Company considers to be a Level 3 unobservable input in the fair value hierarchy. The Company prepared cash flow projections based on management’s estimates of future revenue and operating costs, taking into consideration the historical performance and the current macroeconomic, industry, and market conditions. The Company based the discount rate on the weighted-average cost of capital considering Company-specific characteristics and changes in the reporting unit’s projected cash flows. Under the market approach, the Company estimated the fair value of the reporting unit based on revenue market multiples derived from comparable companies with similar characteristics as the reporting unit, as well as an estimated control premium. Accrued Expenses Accrued expenses consisted of the following as of March 31, 2026 and December 31, 2025:
|  | March 31, 2026 |  |  | December 31, 2025 |
Accrued compensation |  | $ | 41,663 |  |  | $ | 42,228 |
Accrued professional fees |  |  | 139,004 |  |  |  | 201,208 |
Other accrued expenses |  |  | 16,750 |  |  |  | 18,445 |
Accrued franchise taxes |  |  | 80,000 |  |  |  | 80,000 |
Accrued interest |  |  | 1,704 |  |  |  | — |
Total |  | $ | 279,121 |  |  | $ | 341,881 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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