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

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating expenses:    
Research and development $ 33,379,321 $ 10,637,976
General and administrative 6,787,987 6,189,502
Total operating expenses 40,167,308 16,827,478
Loss from operations (40,167,308) (16,827,478)
Other income (expense):    
Change in fair value of financial instruments 5,592 22,581,477
Interest expense   (76,775)
Other income 442,569 626,184
Loss on issuance of Common Shares, warrants, and pre-funded warrants in July 2024 PIPE   (3,524,535)
Total other income, net 448,161 19,606,351
Net (loss) income $ (39,719,147) $ 2,778,873
Net (loss) income per share, basic $ (22.61) $ 2.68
Net (loss) income per share, diluted $ (22.61) $ 2.63
Weighted-average outstanding Common Shares, basic 1,756,844 1,036,799
Weighted-average outstanding Common Shares, diluted 1,756,844 1,058,469