Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2025
Summary of Significant Accounting Policies  
Schedule of significant expense categories

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Three Months Ended

    

Nine Months Ended

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September 30, 

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September 30, 

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September 30, 

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September 30, 

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2025

    

2024

    

2025

    

2024

Operating expenses:

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​

​

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​

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Acquired in-process research and development

$

12,030,667

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$

—

​

$

12,030,667

​

$

—

Clinical

​

1,849,009

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​

2,048

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​

5,296,325

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​

6,370

Chemical, manufacturing and controls

​

303,144

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​

49,229

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​

997,181

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​

117,284

Research and preclinical

​

20,344

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289,940

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​

52,572

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​

476,220

Regulatory

​

10,092

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​

1,310

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​

37,378

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​

1,294

Other research and development costs

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308,086

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192,635

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​

1,114,160

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​

613,796

Total research and development

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14,521,342

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​

535,162

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​

19,528,283

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​

1,214,964

General and administrative expenses

​

1,287,783

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​

1,766,010

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​

4,633,883

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​

3,470,133

Total operating expenses

​

15,809,125

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​

2,301,172

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​

24,162,166

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​

4,685,097

Loss from operations

​

(15,809,125)

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​

(2,301,172)

​

​

(24,162,166)

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​

(4,685,097)

Loss on debt conversion with related party

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—

​

​

—

​

​

(6,134,120)

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​

—

Interest income, net

​

80,582

​

​

20,488

​

​

44,871

​

​

63,245

Exchange loss, net

 

(17,509)

​

 

—

​

 

(36,251)

​

 

—

Net loss before income taxes

$

(15,746,052)

​

$

(2,280,684)

​

$

(30,287,666)

​

$

(4,621,852)