| Schedule of significant expense categories |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
Acquired in-process research and development |
$ |
12,030,667 |
|
$ |
— |
|
$ |
12,030,667 |
|
$ |
— |
Clinical |
|
1,849,009 |
|
|
2,048 |
|
|
5,296,325 |
|
|
6,370 |
Chemical, manufacturing and controls |
|
303,144 |
|
|
49,229 |
|
|
997,181 |
|
|
117,284 |
Research and preclinical |
|
20,344 |
|
|
289,940 |
|
|
52,572 |
|
|
476,220 |
Regulatory |
|
10,092 |
|
|
1,310 |
|
|
37,378 |
|
|
1,294 |
Other research and development costs |
|
308,086 |
|
|
192,635 |
|
|
1,114,160 |
|
|
613,796 |
Total research and development |
|
14,521,342 |
|
|
535,162 |
|
|
19,528,283 |
|
|
1,214,964 |
General and administrative expenses |
|
1,287,783 |
|
|
1,766,010 |
|
|
4,633,883 |
|
|
3,470,133 |
Total operating expenses |
|
15,809,125 |
|
|
2,301,172 |
|
|
24,162,166 |
|
|
4,685,097 |
Loss from operations |
|
(15,809,125) |
|
|
(2,301,172) |
|
|
(24,162,166) |
|
|
(4,685,097) |
Loss on debt conversion with related party |
|
— |
|
|
— |
|
|
(6,134,120) |
|
|
— |
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) |
|