Stock Option Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of the assumptions employed in the calculation of the fair value of share-based compensation expense

The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of grant. The assumptions employed in the calculation of the fair value of share-based compensation expense were calculated as follows for all periods presented:

	2024		2023
Common stock fair value	$	4.76	$	3.69
Risk free interest rate	4.10% - 4.35%		4.05% - 4.89%
Expected dividend yield	0%		0%
Expected term	6.0 years		4.9 years
Expected stock volatility	100.1% - 103.0%		91.9% - 99.7%

Schedule of below is a summary of stock option activity

Below is a summary of stock option activity for the year ending December 31, 2024:

				Weighted		Weighted
	Number			Average		Average
	of options			Exercise Price		Contractual Life
Outstanding at December 31, 2023		2,781,064		$	2.97	4.43 years
Options assumed from Kintara upon merger closing		6,345		$	1,074.40	6.91 years
Forfeited and cancelled		(249,961	)	$	3.53
Exercised		(180,689	)	$	2.66
Granted		4,047,059		$	4.76
Outstanding at December 31, 2024		6,403,818		$	5.11	7.44 years
Exercisable at December 31, 2024		2,270,626		$	5.83	3.30 years

Summary of activity related to RSUs

The table below summarizes activity related to RSUs.

	Number of RSU
Restricted stock units assumed from Kintara upon merger closing		114
Vesting of restricted stock units		-
Balance as of December 31, 2024		114

Summary of total stock-based compensation expense

Total stock-based compensation expense was allocated as follows:

	2024		2023
General and administrative	$	843,111	$	300,986
Research and development		1,115,552		177,904
Total stock-based compensation expense	$	1,958,663	$	478,890