Subsequent Events

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Events

(16)

Subsequent Events

In October 2025, 707,620 pre-funded warrants from the August 2025 Financing were exercised at a price of $0.0001 per share. Additionally, in October and November 2025, 8,652,777 common warrants from the August 2025 Financing were exercised for at a price of $0.36 per share. Total proceeds from the exercised warrants were $3,115,000.

On November 3, 2025, the Company entered into a definitive agreement for the issuance of (i) senior secured convertible notes (“November 2025 Notes” and “November 2025 Financing”) in an aggregate principal amount of $12,000,000, convertible into shares of 16,378,563 common stock at a conversion price of $0.73 per share, (ii) Series A-1 Warrants to purchase up to an aggregate of 16,378,563 shares of common stock at an exercise price of $0.81 per share, subject to adjustments, (iii) Series B-1 Warrants to purchase an aggregate of 16,378,563 shares of common stock at an exercise price of $0.92 per share, subject to adjustments, and (iv) Series C-1 Warrants to purchase an aggregate of 16,378,563 shares of common stock at an exercise price of $1.10 per share, subject to adjustments. The financing resulted in aggregate gross proceeds of $12,000,000.

The November 2025 Notes accrue interest at a rate of 8.5% per annum, payable annually in-kind by increasing the principal balance outstanding, The Notes, Series A-1, B-1 and C-1 Warrants have a 10-year maturity.

In November 2025, the Company sold 1,817,054 shares under the at-the-market facility, resulting in gross cash proceeds of $1,516,371.