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

Income Taxes - Net deferred tax assets (Details)

v3.26.1
Income Taxes - Net deferred tax assets (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 27,632,096 $ 26,081,361
Research and development tax credits 2,484,004 8,765,999
Capitalized research and development expenditures 2,814,581 1,627,842
Stock compensation 1,440,022 1,434,890
Depreciation and amortization 3,023,531 275,412
Lease liabilities 43,381 58,227
Other 50  
Investment in partnership   30,035
Gross deferred tax assets 37,437,665 38,273,766
Valuation allowance (36,952,112) (31,370,027)
Net deferred tax assets 485,553 6,903,739
Deferred tax liabilities:    
Right-of-use asset (42,187) (55,341)
In-process research and development intangible assets (12,112,367) (17,741,842)
Prepaid expenses (440,403) (421,481)
Deferred tax liabilities (12,594,957) (18,218,664)
Net deferred taxes $ (12,109,404) $ (11,314,925)