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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS

The Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items in the accompanying condensed consolidated statements of operations:

SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS 

		2025				2024
		Three Months Ended March 31,
		2025				2024
Research and development		$	21,250			$	21,882
General and administrative			305,366				260,731
Total stock-based compensation expense		$	326,616			$	282,613

SUMMARY OF OPTION ACTIVITY

The following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

SUMMARY OF OPTION ACTIVITY 

		Number of options				Weighted-average exercise price				Weighted-average remaining contractual term (in years)				Aggregate intrinsic value
Outstanding at December 31, 2024			304,125			$	6.95				4.45				—
Granted			—				—				—				—
Exercised			—				—				—				—
Forfeited			—				—				—				—
Outstanding at March 31, 2025			304,125			$	6.95				4.20				—
Vested and exercisable at March 31, 2025			304,125			$	6.95				4.20				—

SUMMARY OF RESTRICTED STOCK AWARD

The following table summarizes restricted stock award activity under the 2014 Plan and 2024 Plan:

SUMMARY OF RESTRICTED STOCK AWARD 

			Number of												As of March 31, 2025
			restricted stock awards (RSA)				Weighted- average grant price				FMV on grant date				Vested number of RSA				Unvested number of RSA
Balance at December 31, 2024				1,326,861			$	1.99			$	2,636,259				1,072,838				254,023
Granted				253,398				0.84				212,875				66,658				186,740
Forfeited				(10,289	)			0.81				(8,334	)			—				(10,289	)
Balance at March 31, 2025				1,569,970			$	2.24			$	2,840,800				1,139,496				430,474

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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-SubTopic 10
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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