Financials

v3.25.3
Condensed Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 2,528,000 $ 3,951,000
Restricted cash 93,000 93,000
Deferred offering costs 760,000
Prepaid expenses and other current assets 940,000 188,000
TOTAL ASSETS 4,321,000 4,232,000
Current liabilities    
Accounts payable 769,000 3,853,000
Accrued expenses 400,000 1,797,000
Dividend payable 144,000
Warrant liability 8,000 252,000
Total Current Liabilities 1,321,000 5,902,000
Stockholders’ Equity (Deficit)    
Preferred stock value
Common stock, par value $0.001, 250,000,000 shares authorized, 6,051,874 and 2,234,328 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 6,000 2,000
Additional paid in capital 703,772,000 693,554,000
Accumulated deficit (700,779,000) (695,227,000)
Total Stockholders’ Equity (Deficit) 3,000,000 (1,670,000)
TOTAL LIABILITIES AND STOCKHOLDERS’ (EQUITY) DEFICIT 4,321,000 4,232,000
Series C Preferred Stock [Member]    
Stockholders’ Equity (Deficit)    
Preferred stock value 1,000 1,000
Series L Preferred Stock [Member]    
Stockholders’ Equity (Deficit)    
Preferred stock value

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v3.25.3
Condensed Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenues
Operating Expenses:        
Research and development 634,000 1,307,000 2,096,000 3,868,000
Selling, general and administrative (including $379,000 and $0 of stock compensation for the three months ended September 30, 2025 and 2024, respectively, and $386,000 and $222,000 of stock compensation for the nine months ended September 30, 2025 and 2024, respectively) 2,748,000 2,297,000 4,731,000 6,733,000
Loss from Operations (3,382,000) (3,604,000) (6,827,000) (10,601,000)
Other Income (Expense)        
Interest income 36,000 96,000 106,000 343,000
Change in fair value of warrant liability 232,000 95,000 244,000 870,000
Gain on settlement of vendor payable 998,000
Other income 156,000
Unrealized gain on short-term investments 2,000 1,000
Total Other Income (Expense), Net 268,000 193,000 1,504,000 1,214,000
Net Loss (3,114,000) (3,411,000) (5,323,000) (9,387,000)
Dividends on preferred stock (144,000) (229,000)
Net Loss attributable to common stockholders’ $ (3,258,000) $ (3,411,000) $ (5,552,000) $ (9,387,000)
Net Loss Per Share - Basic $ (0.83) $ (1.53) $ (1.84) $ (5.28)
Net Loss Per Share - Diluted $ (0.83) $ (1.53) $ (1.84) $ (5.28)
Weighted average common shares outstanding - basic 3,940,714 2,234,328 3,025,033 1,777,313
Weighted average common shares outstanding - diluted 3,940,714 2,234,328 3,025,033 1,777,313

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v3.25.3
Condensed Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss $ (3,114,000) $ (3,411,000) $ (5,323,000) $ (9,387,000)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock based compensation     386,000 222,000  
Issuance of warrants for VRT waiver     44,000  
Change in fair value of warrant liability (232,000) (95,000) (244,000) (870,000)  
Gain on settlement of debt (998,000)  
Gain on extinguishment of debt     (200,000)  
Unrealized gain on short-term investments     1,000  
Changes in operating assets and liabilities:          
(Increase) Decrease in prepaid expenses     (122,000) (164,000)  
Decrease in accounts payable and accrued expenses     (2,436,000) (233,000)  
Decrease in operating lease right-of-use assets       53,000  
(Increase) in operating lease liability     (58,000)  
Net Cash Used in Operating Activities     (8,893,000) (10,436,000)  
CASH FLOWS FROM INVESTING ACTIVITIES          
Sale of investments     12,892,000  
Net Cash Provided by Investing Activities     12,892,000  
CASH FLOWS FROM FINANCING ACTIVITIES          
Exercise of warrants and issuance of inducement warrants for cash, net     1,052,000  
Proceeds from issuance of common stock and warrants, net     2,976,000  
Proceeds from issuance of Series L convertible preferred stock and warrants, net     6,503,000    
Payment of dividend on Series L convertible preferred stock     (85,000)  
Net Cash Provided by Financing Activities     7,470,000 2,976,000  
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash     (1,423,000) 5,432,000  
Cash and Cash Equivalents and Restricted Cash at Beginning of Period     4,044,000 1,079,000 $ 1,079,000
Cash and Cash Equivalents and Restricted Cash at End of Period $ 2,621,000 $ 6,511,000 2,621,000 6,511,000 $ 4,044,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:          
Interest      
Income taxes      
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES          
Fair value of Series L convertible preferred stock vested warrants     3,389,000  
Fair value of prefunded warrants issued for ELOC fee     672,000  
Fair value of common stock and warrants issued for services     718,000  
Fair value of prefunded warrant and common stock to settle vendor payable     847,000 810,000  
Dividend declared on Series L convertible preferred stock     $ 229,000  

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