Annual report [Section 13 and 15(d), not S-K Item 405]

Statements of Operations

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Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]    
Revenues
Operating Expenses:    
Research and development 3,472,000 5,798,000
Selling, general and administrative (including $432,000 and $230,000 of stock compensation during the years ended December 31, 2025 and 2024, respectively) 8,950,000 8,566,000
Loss from Operations (12,422,000) (14,364,000)
Other Income (Expense)    
Interest income 123,000 402,000
Interest expense (127,000)
Loss on initial recognition of Greenshoe Rights liability (28,736,000)
Change in fair value of Greenshoe Rights liability 11,413,000
Change in fair value of warrant liability 241,000 800,000
Gain on settlement of vendor payable 998,000
Other 156,000
Total Other Income (Expense), Net (15,932,000) 1,202,000
Net Loss (28,354,000) (13,162,000)
Dividend on Series L Preferred Stock (320,000)
Deemed dividend (5,775,000)
Net Loss attributable to common stockholders’ $ (34,449,000) $ (13,162,000)
Net Loss Per Share - Basic $ (6.68) $ (6.94)
Net Loss Per Share - Diluted $ (6.68) $ (6.94)
Weighted average common shares outstanding - basic 5,513,255 1,897,375
Weighted average common shares outstanding - diluted 5,513,255 1,897,375