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<p id="xdx_80E_eus-gaap--BusinessDescriptionAndAccountingPoliciesTextBlock_zxuaeM3bRQJc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Note 1 – Organization and Summary of Significant Accounting Policies <p id="xdx_84A_ecustom--BusinessActivitiesAndOrganizationPolicyTextBlock_zKispC3UVz52" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white">Organization We are a clinical-stage biopharmaceutical company focused on incorporating our Regulatory Science Approach into the development of our Next Generation Cancer therapy (“NGC”) drugs to improve the safety and efficacy of cancer treatment. Our NGC drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution while maintaining the well-known and established existing mechanisms of killing the cancer cells. By modifying the NGC drugs in this manner, we believe our NGC treatments will provide improved safety-efficacy profiles when compared to their currently marketed counterparts. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions of the Securities and Exchange Commission (“SEC”) on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by U.S. GAAP for complete financial statements. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results of operations and cash flows for the periods presented. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for any other interim period or for the full year. Liquidity Our consolidated financial statements have been prepared on a going concern basis, which contemplates the continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. We have incurred losses since inception. We are currently devoting substantially all of our efforts toward research and development of our NGC drug product candidates, including conducting a clinical trial and providing general and administrative support for these operations. We have an accumulated deficit of $104.2 million at March 31, 2026. During the three months ended March 31, 2026, we generated a net loss of $3.4 million and used $3.6 million in net cash for operating activities from continuing operations. To date, none of our drug candidates have been approved for sale, and therefore we have not generated any product revenue and do not expect positive cash flow from operations in the foreseeable future. We have financed our operations primarily through equity issuances, including a private offering on February 17, 2026 where we sold 86,956 shares of our common stock to an accredited investor in a private placement transaction for $200,000. On March 31, 2026, certain directors, officers, and employees purchased 17,796 shares of common stock for approximately $45,000. They also purchased <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260401__20260430__srt--TitleOfIndividualAxis__custom--DirectorsOfficersAndEmployeesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJb8C9FCkKjh" title="Shares issued">22,008 shares of common stock for approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260401__20260430__srt--TitleOfIndividualAxis__custom--DirectorsOfficersAndEmployeesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zjWvcI2CkiNc" title="Issuance of comon stock">62,000 during the month ended April 30, 2026. In April 2026, we also sold <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260401__20260430__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zbBmgGKIvurc" title="Shares issued">50,330 shares of common stock under our ATM Offering for approximately $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260401__20260430__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zihh1FbVxlZ9" title="Gross proceeds">157,000 in net proceeds. We will continue to be dependent upon equity and/or debt financing until we are able to generate positive cash flows from its operations. At March 31, 2026, we had cash and cash equivalents totaling $1.7 million. Together with the $219,000 we raised in April 2026, we believe we will need to raise additional capital in the second quarter of 2026 based on our current business plans. Our ability to execute our longer-term operating plans, including future preclinical studies and clinical trials for our portfolio of drugs depend on our ability to obtain additional funding from the sale of equity and/or debt securities, a strategic transaction or other funding transactions. We plan to raise additional funds in the future through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other marketing and distribution arrangements, but will only do so if the terms are acceptable to us. If we are unable to obtain adequate financing when needed, we may have to delay, reduce the scope of, or suspend our current or planned future clinical trial plans, or research and development programs. This may also cause us to not meet obligations contained in certain of our license agreements and put these assets at risk. To the extent that we raise additional capital through marketing and distribution arrangements or other collaborations, strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights to our product candidates, future revenue streams, research programs or product candidates or to grant licenses on terms that may not be favorable to us. If we raise additional capital through public or private equity offerings, the ownership interest of our existing stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect our stockholders’ rights. If we raise additional capital through debt financing, we may be subject to covenants limiting or restricting our ability to take specific actions, such as incurring additional debt or making capital expenditures. There can be no assurance that future funding will be available when needed. Absent additional funding, we believe that our cash and cash equivalents, along with our digital assets, will not be sufficient to fund our operations for a period of one year or more after the date that these consolidated financial statements are available to be issued based on the timing and amount of our projected net loss from continuing operations and cash to be used in operating activities during that period of time. As a result, substantial doubt exists about our ability to continue as a going concern within one year after the date that these consolidated financial statements are available to be issued. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be different should we be unable to continue as a going concern based on the outcome of these uncertainties described above. Use of Estimates In preparing our condensed consolidated financial statements and related disclosures in conformity with U.S. GAAP and pursuant to the rules and regulations of the SEC, we make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to preclinical and clinical trial expenses, stock-based compensation, intangible assets, future milestone payments and income taxes. These estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While we believe the estimates to be reasonable, actual results could differ materially from those estimates and could impact future results of operations and cash flows. Digital Assets Our digital assets consist of Chiliz (CHZ) tokens and we have accounted for it in accordance with ASC 350-60, Intangibles – Goodwill and Other – Crypto Assets (“ASC 350-60”). We initially recorded the digital assets at cost and then subsequently remeasured at fair value as of the balance sheet date with changes in fair value recognized as unrealized gain or losses in the consolidated statement of operations. We will recognize any realized gains or losses in the consolidated statement of operations based on the fair value of the digital assets on the date of sale or derecognition. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes. Deferred income taxes are recorded for the expected tax consequences of temporary differences between the basis of assets and liabilities for financial reporting purposes and amounts recognized for income tax purposes. At March 31, 2026 and December 31, 2025, we recorded a valuation allowance equal to the full recorded amount of our net deferred tax assets since it is more-likely-than-not that such benefits will not be realized. The valuation allowance is reviewed quarterly and is maintained until sufficient positive evidence exists to support its reversal. Under ASC 740-270 Income Taxes – Interim Reporting, we are required to project our annual federal and state effective income tax rate and apply it to the year-to-date ordinary operating tax basis loss before income taxes. Based on the projection, no current income tax benefit or expense is expected for 2026 and the foreseeable future since we expect to generate taxable net operating losses. Concentration of Credit Risk Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of our cash and cash equivalents. We utilize only well-established banks and financial institutions with high credit ratings. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Total cash held by our banks at March 31, 2026 exceeded FDIC limits. <p id="xdx_84A_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zF8Fw138Dtvg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recent Accounting Pronouncements From time to time, the Financial Accounting Standards Board (“FASB”) or other standard setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification are communicated through issuance of an Accounting Standards Update (“ASU”). We have implemented all new accounting pronouncements that are in effect and that may impact our condensed consolidated financial statements. We have evaluated recently issued accounting pronouncements and determined that there is no material impact on our condensed consolidated financial position or results of operations.

<p id="xdx_84A_ecustom--BusinessActivitiesAndOrganizationPolicyTextBlock_zKispC3UVz52" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white">Organization We are a clinical-stage biopharmaceutical company focused on incorporating our Regulatory Science Approach into the development of our Next Generation Cancer therapy (“NGC”) drugs to improve the safety and efficacy of cancer treatment. Our NGC drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution while maintaining the well-known and established existing mechanisms of killing the cancer cells. By modifying the NGC drugs in this manner, we believe our NGC treatments will provide improved safety-efficacy profiles when compared to their currently marketed counterparts.

Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions of the Securities and Exchange Commission (“SEC”) on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by U.S. GAAP for complete financial statements. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results of operations and cash flows for the periods presented. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for any other interim period or for the full year.

Liquidity Our consolidated financial statements have been prepared on a going concern basis, which contemplates the continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. We have incurred losses since inception. We are currently devoting substantially all of our efforts toward research and development of our NGC drug product candidates, including conducting a clinical trial and providing general and administrative support for these operations. We have an accumulated deficit of $104.2 million at March 31, 2026. During the three months ended March 31, 2026, we generated a net loss of $3.4 million and used $3.6 million in net cash for operating activities from continuing operations. To date, none of our drug candidates have been approved for sale, and therefore we have not generated any product revenue and do not expect positive cash flow from operations in the foreseeable future. We have financed our operations primarily through equity issuances, including a private offering on February 17, 2026 where we sold 86,956 shares of our common stock to an accredited investor in a private placement transaction for $200,000. On March 31, 2026, certain directors, officers, and employees purchased 17,796 shares of common stock for approximately $45,000. They also purchased <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260401__20260430__srt--TitleOfIndividualAxis__custom--DirectorsOfficersAndEmployeesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJb8C9FCkKjh" title="Shares issued">22,008 shares of common stock for approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260401__20260430__srt--TitleOfIndividualAxis__custom--DirectorsOfficersAndEmployeesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zjWvcI2CkiNc" title="Issuance of comon stock">62,000 during the month ended April 30, 2026. In April 2026, we also sold <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260401__20260430__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zbBmgGKIvurc" title="Shares issued">50,330 shares of common stock under our ATM Offering for approximately $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260401__20260430__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zihh1FbVxlZ9" title="Gross proceeds">157,000 in net proceeds. We will continue to be dependent upon equity and/or debt financing until we are able to generate positive cash flows from its operations. At March 31, 2026, we had cash and cash equivalents totaling $1.7 million. Together with the $219,000 we raised in April 2026, we believe we will need to raise additional capital in the second quarter of 2026 based on our current business plans. Our ability to execute our longer-term operating plans, including future preclinical studies and clinical trials for our portfolio of drugs depend on our ability to obtain additional funding from the sale of equity and/or debt securities, a strategic transaction or other funding transactions. We plan to raise additional funds in the future through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other marketing and distribution arrangements, but will only do so if the terms are acceptable to us. If we are unable to obtain adequate financing when needed, we may have to delay, reduce the scope of, or suspend our current or planned future clinical trial plans, or research and development programs. This may also cause us to not meet obligations contained in certain of our license agreements and put these assets at risk. To the extent that we raise additional capital through marketing and distribution arrangements or other collaborations, strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights to our product candidates, future revenue streams, research programs or product candidates or to grant licenses on terms that may not be favorable to us. If we raise additional capital through public or private equity offerings, the ownership interest of our existing stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect our stockholders’ rights. If we raise additional capital through debt financing, we may be subject to covenants limiting or restricting our ability to take specific actions, such as incurring additional debt or making capital expenditures. There can be no assurance that future funding will be available when needed. Absent additional funding, we believe that our cash and cash equivalents, along with our digital assets, will not be sufficient to fund our operations for a period of one year or more after the date that these consolidated financial statements are available to be issued based on the timing and amount of our projected net loss from continuing operations and cash to be used in operating activities during that period of time. As a result, substantial doubt exists about our ability to continue as a going concern within one year after the date that these consolidated financial statements are available to be issued. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be different should we be unable to continue as a going concern based on the outcome of these uncertainties described above.

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Use of Estimates In preparing our condensed consolidated financial statements and related disclosures in conformity with U.S. GAAP and pursuant to the rules and regulations of the SEC, we make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to preclinical and clinical trial expenses, stock-based compensation, intangible assets, future milestone payments and income taxes. These estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While we believe the estimates to be reasonable, actual results could differ materially from those estimates and could impact future results of operations and cash flows.

Digital Assets Our digital assets consist of Chiliz (CHZ) tokens and we have accounted for it in accordance with ASC 350-60, Intangibles – Goodwill and Other – Crypto Assets (“ASC 350-60”). We initially recorded the digital assets at cost and then subsequently remeasured at fair value as of the balance sheet date with changes in fair value recognized as unrealized gain or losses in the consolidated statement of operations. We will recognize any realized gains or losses in the consolidated statement of operations based on the fair value of the digital assets on the date of sale or derecognition.

Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes. Deferred income taxes are recorded for the expected tax consequences of temporary differences between the basis of assets and liabilities for financial reporting purposes and amounts recognized for income tax purposes. At March 31, 2026 and December 31, 2025, we recorded a valuation allowance equal to the full recorded amount of our net deferred tax assets since it is more-likely-than-not that such benefits will not be realized. The valuation allowance is reviewed quarterly and is maintained until sufficient positive evidence exists to support its reversal. Under ASC 740-270 Income Taxes – Interim Reporting, we are required to project our annual federal and state effective income tax rate and apply it to the year-to-date ordinary operating tax basis loss before income taxes. Based on the projection, no current income tax benefit or expense is expected for 2026 and the foreseeable future since we expect to generate taxable net operating losses.

Concentration of Credit Risk Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of our cash and cash equivalents. We utilize only well-established banks and financial institutions with high credit ratings. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Total cash held by our banks at March 31, 2026 exceeded FDIC limits.

<p id="xdx_84A_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zF8Fw138Dtvg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recent Accounting Pronouncements From time to time, the Financial Accounting Standards Board (“FASB”) or other standard setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification are communicated through issuance of an Accounting Standards Update (“ASU”). We have implemented all new accounting pronouncements that are in effect and that may impact our condensed consolidated financial statements. We have evaluated recently issued accounting pronouncements and determined that there is no material impact on our condensed consolidated financial position or results of operations.

Note 2 – Stockholders’ Equity Common Stock During the three months ended March 31, 2026, we issued the following shares of common stock. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 1, 2026, we issued 1,169 shares of common stock to certain employees, net of 112 shares of common stock withheld for income and FICA taxes owed upon the distribution of the shares.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 17, 2026 where we sold 86,956 shares of our common stock to an accredited investor in a private placement transaction for $200,000.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On March 31, 2026, we sold 17,796 shares of common stock to certain directors, officers, and employees for approximately $45,000.</td></tr> </table> Treasury Stock On February 15, 2026, the Board approved the retirement of the 200 shares held in treasury stock.

1169

112

86956

200000

17796

45000

200

<p id="xdx_803_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zsBIRQlq1hi4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 11pt; text-align: justify; text-indent: -11pt">Note 3 - Stock-based Compensation On June 19, 2019, our stockholders approved, and we adopted, the Processa Pharmaceuticals Inc. 2019 Omnibus Equity Incentive Plan (the “2019 Plan”). The 2019 Plan allows us, under the direction of our Board of Directors or a committee thereof, to make grants of stock options, restricted and unrestricted stock and other stock-based awards to employees, including our executive officers, consultants and directors. The 2019 Plan provides for the aggregate issuance of <span id="xdx_900_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20190619__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenPlanMember_zBn8Vgmet7Lf" title="Maximum equity available for issuance under the plan">432,000 shares of our common stock. At March 31, 2026, we have <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenPlanMember_z30MW1juu3L8" title="Shares available for future grants">232,721 shares available for future grants. Stock Compensation Expense <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zD8wEf7vaig7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">We recorded stock-based compensation expense for the three months ended March 31, 2026 and 2025 as follows: Schedule of Stock-Based Compensation Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" id="xdx_497_20260101__20260331_zF0hJKjCsPO" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20250331_zdCGDyioGY93" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zZcKg2ZEVNtf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,144</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AllocatedShareBasedCompensationExpense_hcustom--IncomeLocationBalanceAxis__custom--GeneralAndAdministrativeMember_zNkoyswy1J8c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,819</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180,991</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AllocatedShareBasedCompensationExpense_z8xKp8byfSW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">95,963</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">227,711</td><td style="text-align: left"> </td></tr> </table> Stock Options <p id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zcx1OaRek8F4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table summarizes our stock option activity during the three months ended March 31, 2026: Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total options Outstanding</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual life (in years)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding as of January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260331_zXj1fyD4sQ3j" style="width: 14%; text-align: right" title="Options outstanding, beginning balance">136,372</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331_zZsJQJdiS4a7" style="width: 14%; text-align: right" title="Weighted average exercise price, beginning balance">13.43</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260331_zD8AWV07KuY5" style="text-align: right" title="Options, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Forfeited or expired</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260331_ztnSfJKFHGjl" style="border-bottom: Black 1pt solid; text-align: right" title="Options, forfeited or expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260331_zEO5v8FoThSk" style="text-align: right" title="Options outstanding, ending balance">136,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zFv1XSl1AG6f" style="text-align: right" title="Weighted average exercise price, ending balance">13.43</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zxoqRdWaAbO9" title="Weighted average remaining contractual term, outstanding">9.5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Exercisable as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_z4K041O3EZv7" style="text-align: right" title="Options exercisable, ending balance">712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zkgHjWREIJTb" style="text-align: right" title="Weighted average exercise price, exercisable">1,615.67</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_zrW3ltaYrVJe" title="Weighted average remaining contractual term, exercisable">1.2</td><td style="text-align: left"> </td></tr> </table> No forfeiture rate was applied to these stock options. The aggregate intrinsic value of outstanding options was $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_do_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z5mh3KXw7bh2" title="Aggregate intrinsic value of outstanding options"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_do_c20250331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zcC1hfRTLspg" title="Aggregate intrinsic value of outstanding options">0 at both March 31, 2026 and 2025. No stock options were exercised during the three months ended March 31, 2026 or 2025. At March 31, 2026, unrecognized stock-based compensation expense for stock options of $<span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zBCsSMr0DqFg" title="Unrecognized share based compensation expense">570,000 is expected to be fully recognized over a weighted average period of <span id="xdx_90B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zEv25gms3xmd" title="Weighted average period for recognition">2.5 years. Restricted Stock Units <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z23Ik2Q8uhi5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">Activity with respect to our Restricted Stock Units (“RSUs”) during the three months ended March 31, 2026 was as follows: Schedule of Restricted Stock Units (“RSUs”) Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- average grant-date fair value per share</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstanding_iS_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG5USBBKJl13" style="width: 16%; text-align: right" title="Number of shares, Beginning balance">56,641</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zD9BHZhfbHkc" style="width: 16%; text-align: right" title="Weighted-average grant-date fair value per share, Beginning balance">31.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPxhQbT2eU3e" style="text-align: right" title="Number of shares, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ27LOjSGnEj" style="text-align: right" title="Weighted-average grant-date fair value per share, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ztp8scSAQcdb" style="text-align: right" title="Number of shares, forfeited">(312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdLbakgmu1tl" style="text-align: right" title="Weighted-average grant-date fair value per share, forfeited">201.72</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Distributed</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsDistributedInPeriod_iN_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHN1wei1w3zj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, distributed">(1,169</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsDistributedWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGW2y92KvPO4" style="text-align: right" title="Weighted-average grant-date fair value per share, distributed">550.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstanding_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBs6XkTcaWRc" style="text-align: right" title="Number of shares, ending balance">55,160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWbR7PHmyPac" style="text-align: right" title="Weighted-average grant-date fair value per share, ending balance">19.06</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vested and unissued</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnissued_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zREysJ2lfOhh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, vested and unissued">(9,427</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnissuedWeightedAverageGrantDateFairValue_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5yZ4P1DgUQb" style="text-align: right" title="Weighted-average grant-date fair value per share, vested and unissued">83.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested at March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zo1iO90Svkw5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, unvested">45,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zUDd6q4vFoc1" style="text-align: right" title="Weighted-average grant-date fair value per share, unvested">5.85</td><td style="text-align: left"> </td></tr> </table> At March 31, 2026, unrecognized stock-based compensation expense of approximately $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAaEGhlHI5Ff" title="Unrecognized share based compensation expense">217,000 for RSUs is expected to be fully recognized over a weighted average period of <span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAQdXChHKFJl" title="Weighted average period for recognition">2.5 years. The unrecognized expense excludes approximately $<span id="xdx_90E_ecustom--ExcludedUnrecognizedShareBasedCompensationExpense_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBhEvEVQp70h" title="Excluded unrecognized share based compensation expense">12,000 of expense related to certain grants of RSUs with performance milestones that are not probable of occurring at this time. Holders of our vested RSUs will be issued shares of our common stock upon meeting the distribution restrictions contained in their Restricted Stock Unit Award Agreement. The distribution restrictions are different (longer) than the vesting schedule, imposing an additional restriction on the holder. While certain employees may hold fully vested RSUs, the individual does not hold any shares or have any rights of a stockholder until the distribution restrictions are met. Upon distribution to the employee, each RSU converts into one share of our common stock. The RSUs contain dividend equivalent rights. Warrants During the three months ended March 31, 2026, <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_do_c20260101__20260331__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zW8jeC0qV9zh" title="Warrants, expired">no warrants expired and we did not grant any warrants. We did not have any unrecognized stock-based compensation expense related to our <span id="xdx_902_ecustom--ClassOfWarrantOrRightNumberOfSecuritiesOutstanding_iI_c20260331__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zvbBHh3VvUrj" title="Warrants to purchase shares, outstanding">1,437,131 outstanding stock purchase warrants at March 31, 2026.

432000

232721

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zD8wEf7vaig7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">We recorded stock-based compensation expense for the three months ended March 31, 2026 and 2025 as follows: Schedule of Stock-Based Compensation Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" id="xdx_497_20260101__20260331_zF0hJKjCsPO" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20250331_zdCGDyioGY93" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zZcKg2ZEVNtf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,144</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">46,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AllocatedShareBasedCompensationExpense_hcustom--IncomeLocationBalanceAxis__custom--GeneralAndAdministrativeMember_zNkoyswy1J8c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">78,819</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180,991</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AllocatedShareBasedCompensationExpense_z8xKp8byfSW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">95,963</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">227,711</td><td style="text-align: left"> </td></tr> </table>

17144

46720

78819

180991

95963

227711

<p id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zcx1OaRek8F4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table summarizes our stock option activity during the three months ended March 31, 2026: Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total options Outstanding</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average exercise price</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual life (in years)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding as of January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260331_zXj1fyD4sQ3j" style="width: 14%; text-align: right" title="Options outstanding, beginning balance">136,372</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331_zZsJQJdiS4a7" style="width: 14%; text-align: right" title="Weighted average exercise price, beginning balance">13.43</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260331_zD8AWV07KuY5" style="text-align: right" title="Options, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Forfeited or expired</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260331_ztnSfJKFHGjl" style="border-bottom: Black 1pt solid; text-align: right" title="Options, forfeited or expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260331_zEO5v8FoThSk" style="text-align: right" title="Options outstanding, ending balance">136,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zFv1XSl1AG6f" style="text-align: right" title="Weighted average exercise price, ending balance">13.43</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zxoqRdWaAbO9" title="Weighted average remaining contractual term, outstanding">9.5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Exercisable as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_z4K041O3EZv7" style="text-align: right" title="Options exercisable, ending balance">712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zkgHjWREIJTb" style="text-align: right" title="Weighted average exercise price, exercisable">1,615.67</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_zrW3ltaYrVJe" title="Weighted average remaining contractual term, exercisable">1.2</td><td style="text-align: left"> </td></tr> </table>

136372

13.43

136372

13.43

P9Y6M

712

1615.67

P1Y2M12D

570000

P2Y6M

<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z23Ik2Q8uhi5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">Activity with respect to our Restricted Stock Units (“RSUs”) during the three months ended March 31, 2026 was as follows: Schedule of Restricted Stock Units (“RSUs”) Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- average grant-date fair value per share</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstanding_iS_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG5USBBKJl13" style="width: 16%; text-align: right" title="Number of shares, Beginning balance">56,641</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zD9BHZhfbHkc" style="width: 16%; text-align: right" title="Weighted-average grant-date fair value per share, Beginning balance">31.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPxhQbT2eU3e" style="text-align: right" title="Number of shares, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ27LOjSGnEj" style="text-align: right" title="Weighted-average grant-date fair value per share, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ztp8scSAQcdb" style="text-align: right" title="Number of shares, forfeited">(312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdLbakgmu1tl" style="text-align: right" title="Weighted-average grant-date fair value per share, forfeited">201.72</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Distributed</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsDistributedInPeriod_iN_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHN1wei1w3zj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, distributed">(1,169</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsDistributedWeightedAverageGrantDateFairValue_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGW2y92KvPO4" style="text-align: right" title="Weighted-average grant-date fair value per share, distributed">550.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstanding_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBs6XkTcaWRc" style="text-align: right" title="Number of shares, ending balance">55,160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWbR7PHmyPac" style="text-align: right" title="Weighted-average grant-date fair value per share, ending balance">19.06</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vested and unissued</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnissued_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zREysJ2lfOhh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, vested and unissued">(9,427</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnissuedWeightedAverageGrantDateFairValue_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5yZ4P1DgUQb" style="text-align: right" title="Weighted-average grant-date fair value per share, vested and unissued">83.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested at March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zo1iO90Svkw5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, unvested">45,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zUDd6q4vFoc1" style="text-align: right" title="Weighted-average grant-date fair value per share, unvested">5.85</td><td style="text-align: left"> </td></tr> </table>

56641 31.02

312

201.72

1169 550.00 55160 19.06 -9427 83.17

45733

5.85

217000

P2Y6M

12000

1437131

Note 4 – Net Loss per Share of Common Stock Net Loss Per Share Basic net loss per share is computed by dividing our net loss available to common stockholders by the weighted average number of shares of common stock outstanding (which includes vested RSUs and unexercised pre-funded warrants) during the period. Diluted loss per share is computed by dividing our net loss available to common stockholders by the diluted weighted average number of shares of common stock (which includes the potentially dilutive effect of stock options, unvested RSUs and warrants) during the period. Since we experienced a net loss for both periods presented, basic and diluted net loss per share are the same. As such, diluted loss per share for the three months ended March 31, 2026 and 2025 excludes the impact of potentially dilutive common shares since those shares would have an anti-dilutive effect on net loss per share. We issued <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250129__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zokxpZ3I559a" title="Warrants to purchase common stock">280,788 Pre-Funded Warrants with such Pre-Funded Warrants being immediately exercisable, having an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250129__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zDaSTuZERq9e" title="Warrant exercise price">0.0001 per share that expire when fully exercised. The Pre-Funded Warrants were determined to be equity-classified in accordance with ASC 480 and ASC 815. At March 31, 2025, <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250331__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zZsnAZ8AJHr9" title="Warrants outstanding">259,760 of these prefunded warrants were unexercised. Pursuant to the guidance of ASC 260-10, we concluded that because the equity-classified Pre-Funded Warrants were immediately exercisable for little or no cash consideration due to the non-substantive stated exercise price, all the necessary conditions for issuance of the underlying common shares had been met when the Pre-Funded Warrants were issued. Therefore, the underlying common shares have been included in the denominator for both the calculation of basic and dilutive net loss per common share for the three months ended March 31, 2025. <p id="xdx_89B_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zWH4VyooBr0b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The computation of net loss per share for the three months ended March 31, 2026 and 2025 was as follows: Schedule of Net Loss Per Share Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zKMuVd6oMYe4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250101__20250331_zJvW3HkoezIa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and diluted net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zhJXTMAyOige" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net loss available to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(3,377,179</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,834,405</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Weighted average number of common shares-basic and diluted</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,623,143</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">373,967</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Basic and diluted net loss per share</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.29</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7.58</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted-average number of common shares outstanding – basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zTrfCvPmj0Eg" title="Weighted average number of common shares outstanding - basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zp96sF4wgULc" title="Weighted average number of common shares outstanding - diluted">2,572,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zFWpuCglcKz1" title="Weighted average number of common shares outstanding - basic"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zMBTGFowJGT6" title="Weighted average number of common shares outstanding - diluted">176,223</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PrefundedWarrantsConsideredIssuedForEPSPurposes_hus-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zg47D0Yxs9Ae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pre-Funded Warrants considered issued for EPS purposes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">190,312</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average number of vested RSUs– basic and diluted</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zn51ovAwEXj1" title="Weighted average number of vested RSUs - basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z2KxDC0kWp9a" title="Weighted average number of vested RSUs - diluted">51,029</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z9zwxNpkFuy9" title="Weighted average number of vested RSUs - basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zMSxCHd1a7Xd" title="Weighted average number of vested RSUs - diluted">7,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average number of common shares-basic and diluted</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,623,143</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">373,967</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_89B_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zk91gr1zZ6Q2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">We have excluded the following potentially dilutive securities from the calculation of diluted net loss per share since they would have had an anti-dilutive effect: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zQ5V1H0TUeNe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zpGPgaTSQ4Td" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zCWD4RsEaSyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">136,372</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">112</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zhO1jwb80JZ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted stock units (unvested)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,653</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zXODPppxuyX" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants for common stock</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,437,131</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">71,037</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zRHZkjdSiTIg" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,619,236</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">78,802</td><td style="text-align: left"> </td></tr> </table>

280788

0.0001

259760

<p id="xdx_89B_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zWH4VyooBr0b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The computation of net loss per share for the three months ended March 31, 2026 and 2025 was as follows: Schedule of Net Loss Per Share Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zKMuVd6oMYe4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250101__20250331_zJvW3HkoezIa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and diluted net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zhJXTMAyOige" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net loss available to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(3,377,179</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,834,405</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Weighted average number of common shares-basic and diluted</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,623,143</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">373,967</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Basic and diluted net loss per share</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.29</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7.58</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Weighted-average number of common shares outstanding – basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zTrfCvPmj0Eg" title="Weighted average number of common shares outstanding - basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zp96sF4wgULc" title="Weighted average number of common shares outstanding - diluted">2,572,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zFWpuCglcKz1" title="Weighted average number of common shares outstanding - basic"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zMBTGFowJGT6" title="Weighted average number of common shares outstanding - diluted">176,223</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PrefundedWarrantsConsideredIssuedForEPSPurposes_hus-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zg47D0Yxs9Ae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pre-Funded Warrants considered issued for EPS purposes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">190,312</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average number of vested RSUs– basic and diluted</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zn51ovAwEXj1" title="Weighted average number of vested RSUs - basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z2KxDC0kWp9a" title="Weighted average number of vested RSUs - diluted">51,029</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z9zwxNpkFuy9" title="Weighted average number of vested RSUs - basic"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zMSxCHd1a7Xd" title="Weighted average number of vested RSUs - diluted">7,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average number of common shares-basic and diluted</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,623,143</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">373,967</td><td style="text-align: left"> </td></tr> </table>

-3377179

-2834405

2623143

373967

-1.29

-7.58

2572114

176223

190312

51029

7432

2623143

373967

<p id="xdx_89B_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zk91gr1zZ6Q2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">We have excluded the following potentially dilutive securities from the calculation of diluted net loss per share since they would have had an anti-dilutive effect: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zQ5V1H0TUeNe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zpGPgaTSQ4Td" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zCWD4RsEaSyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">136,372</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">112</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zhO1jwb80JZ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted stock units (unvested)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,653</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zXODPppxuyX" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants for common stock</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,437,131</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">71,037</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zRHZkjdSiTIg" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,619,236</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">78,802</td><td style="text-align: left"> </td></tr> </table>

136372

112

45733

7653

1437131

71037

1619236

78802

Note 5 – Digital Assets Digital assets are measured at fair value on a recurring basis using quoted prices in its principal market (Level 1 inputs). We have designated a principal market based on the market we have access to that has the greatest volume and level of orderly transactions for digital assets. We reassess the principal market when facts and circumstances change, including, but not limited to, when new markets become accessible, or the volume/activity in the current principal market declines. <p id="xdx_897_eus-gaap--CryptoAssetHoldingTableTextBlock_z9SucFYeLYf6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table sets forth the number of tokens, cost basis and fair value of digital assets held, as shown on the consolidated balance sheet as of March 31, 2026: Schedule of Digital Assets Held <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Tokens</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost basis</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">CHZ</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--CryptoAssetNumberOfUnits_iI_uCHZ_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_zAqjkbSEFvkc" style="width: 14%; text-align: right" title="Tokens">37,517,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CryptoAssetCost_iI_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_zmqQ8LPrwl55" style="width: 14%; text-align: right" title="Cost basis">1,350,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetFairValue_iI_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_z43q3HQUbgp4" style="width: 14%; text-align: right" title="Fair value">1,585,356</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_897_eus-gaap--CryptoAssetActivityTableTextBlock_zXou7UCZWO9d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table represents a reconciliation of our assets and (liabilities) related to our digital assets during the three months ended March 31, 2026: Schedule of Reconciliation of Assets and (Liabilities) Related to Digital Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31, 2026</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Fair Value, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetFairValue_iS_c20260101__20260331_zMGElBHt6d5c" style="width: 16%; text-align: right" title="Fair Value, Beginning Balance">1,145,180</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Purchases made with cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CryptoAssetPurchase_c20260101__20260331_zYeYez6CZCbc" style="text-align: right" title="Purchases made">500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Unrealized loss</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--CryptoAssetRealizedAndUnrealizedLossOperating_iN_di_c20260101__20260331_ztnBYc8c0Di3" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized loss">(59,824</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair Value, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CryptoAssetFairValue_iE_c20260101__20260331_zb5Lgc6efPqj" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value, Ending Balance">1,585,356</td><td style="text-align: left"> </td></tr> </table> On January 12, 2026, we purchased 10,416,000 CHZ tokens for $500,000. As of May 1, 2026, we own <span id="xdx_909_eus-gaap--CryptoAssetNumberOfUnits_iI_uCHZ_c20260501__us-gaap--RelatedPartyTransactionAxis__custom--ChilizGroupMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzGWVCFcAnc" title="Tokens">37,517,000 CHZ tokens, which had a fair value of $<span id="xdx_907_eus-gaap--CryptoAssetFairValue_iI_pn5n6_c20260501__us-gaap--RelatedPartyTransactionAxis__custom--ChilizGroupMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqgWVXmQcuCh" title="Fair value">1.6 million as of such date.

<p id="xdx_897_eus-gaap--CryptoAssetHoldingTableTextBlock_z9SucFYeLYf6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table sets forth the number of tokens, cost basis and fair value of digital assets held, as shown on the consolidated balance sheet as of March 31, 2026: Schedule of Digital Assets Held <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Tokens</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost basis</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">CHZ</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--CryptoAssetNumberOfUnits_iI_uCHZ_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_zAqjkbSEFvkc" style="width: 14%; text-align: right" title="Tokens">37,517,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CryptoAssetCost_iI_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_zmqQ8LPrwl55" style="width: 14%; text-align: right" title="Cost basis">1,350,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetFairValue_iI_c20260331__srt--CryptoAssetAxis__custom--CHZDigitalAssetsMember_z43q3HQUbgp4" style="width: 14%; text-align: right" title="Fair value">1,585,356</td><td style="width: 1%; text-align: left"> </td></tr> </table>

37517000

1350000

1585356

<p id="xdx_897_eus-gaap--CryptoAssetActivityTableTextBlock_zXou7UCZWO9d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table represents a reconciliation of our assets and (liabilities) related to our digital assets during the three months ended March 31, 2026: Schedule of Reconciliation of Assets and (Liabilities) Related to Digital Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31, 2026</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Fair Value, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetFairValue_iS_c20260101__20260331_zMGElBHt6d5c" style="width: 16%; text-align: right" title="Fair Value, Beginning Balance">1,145,180</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Purchases made with cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CryptoAssetPurchase_c20260101__20260331_zYeYez6CZCbc" style="text-align: right" title="Purchases made">500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Unrealized loss</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--CryptoAssetRealizedAndUnrealizedLossOperating_iN_di_c20260101__20260331_ztnBYc8c0Di3" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized loss">(59,824</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair Value, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CryptoAssetFairValue_iE_c20260101__20260331_zb5Lgc6efPqj" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value, Ending Balance">1,585,356</td><td style="text-align: left"> </td></tr> </table>

1145180

500000

59824

1585356

10416000

500000

37517000

1600000

<p id="xdx_800_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zFLzpVrsQFHl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Note 6 – Related Party Transactions CorLyst, LLC CorLyst, LLC (“CorLyst”) reimburses us for shared costs related to payroll, health insurance and rent based on actual costs incurred, which are recognized as a reduction of our general and administrative operating expenses being reimbursed in our condensed consolidated statement of operations. Included in our general and administrative expenses is approximately $<span id="xdx_908_ecustom--ProceedsFromRentAndOtherCostsReimbursements_c20260101__20260331__us-gaap--RelatedPartyTransactionAxis__custom--CorLystLLCMember_zrqHwdZnHFA1" title="Rent and other costs reimbursements received">17,000 and $<span id="xdx_902_ecustom--ProceedsFromRentAndOtherCostsReimbursements_c20250101__20250331__us-gaap--RelatedPartyTransactionAxis__custom--CorLystLLCMember_zPFxVKPyfMjc" title="Rent and other costs reimbursements received">29,000 of reimbursements from CorLyst during the three months ended March 31, 2026 and 2025, respectively. At March 31, 2025, we included $27,774 due from CorLyst as a current asset in Prepaid and Other. No amounts were due at March 31, 2026. Our President, Research and Development is the CEO of CorLyst, and CorLyst is a stockholder. The Chiliz Group The Chiliz Group (formerly known as ‘HX Entertainment Limited’) is the issuer of the Chiliz Token. In prior periods, they have purchased <span id="xdx_907_ecustom--NumberOfSharesOwnedByRelatedParty_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ChilizGroupMember_zsmEq2yrePvf" title="Number of shares owned by related party">305,644 shares of our common stock for a cumulative $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ChilizGroupMember_zKY308bJAMul" title="Net proceeds">1.4 million in net proceeds. At March 31, 2026, The Chiliz Group owned <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ChilizGroupMember_zM7a7bzcRi43" title="Equity method investment, ownership percentage">11.4% of shares of our common stock outstanding.

17000 29000

27774

305644

1400000

0.114

Note 7 – Segment Reporting We manage our operations as a 1 single segment, focused on developing the next generation of cancer therapy drugs. As our chief operating decision maker (CODM), our CEO manages and allocates resources at a consolidated level. He assesses performance, monitors budget versus actual results, and decides how to allocate resources based on net loss that also is reported on the consolidated statement of operations and comprehensive loss as consolidated net loss. <p id="xdx_89B_eus-gaap--ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock_zSkzEuNrf6Nf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the three months ended March 31, 2026 and 2025: Schedule of Reportable Segment Profit and Loss, Including Significant Expense Categories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" id="xdx_49B_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--ReportableSegmentAggregationBeforeOtherOperatingSegmentMember_zMRxRiWmRNE4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_49A_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--ReportableSegmentAggregationBeforeOtherOperatingSegmentMember_zCSG5e6C27wh" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr id="xdx_401_ecustom--PreclinicalClinicalTrialAndOtherCosts_msNILzlEq_zBVvRGsSTT53" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Preclinical, clinical trial and other costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,423,041</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,197,035</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_msNILzlEq_z6MdeqY7nZA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Research and development personnel expense(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">391,505</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_msNILzlEq_z1XZ8xCeJp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">General and administrative personnel expense(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">676,382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">673,779</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdministrativeAndFacilitiesExpense_msNILzlEq_zl39Aozbae34" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Administrative and facilities expense(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">845,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">584,671</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherNonoperatingIncomeExpense_iN_di_maNILzlEq_zSiFCEqu4Yd2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other income, net(4)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,965</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12,585</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_iNT_di_mtNILzlEq_zLcRtSGClJVf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,377,179</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,834,405</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_iNT_di_mtNILzlEq_zbiFz5EymNl8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net loss</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,377,179</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,834,405</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: right">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Research and development personnel costs include employee stock-based compensation expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentPersonnelCostsMember_zP5hI0aKGK46" title="Personnel costs include employee stock-based compensation expense">17,144 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentPersonnelCostsMember_zTJ4y94mm8Vf" title="Personnel costs include employee stock-based compensation expense">46,720 for the three months ended March 31, 2026 and 2025, respectively.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">General and administrative personnel costs include employee stock-based compensation expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativePersonnelCostsMember_z2nTq1gSdgzh" title="Personnel costs include employee stock-based compensation expense">52,387 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativePersonnelCostsMember_zAlN4Zq0Vot7" title="Personnel costs include employee stock-based compensation expense">122,655 for the three months ended March 31, 2026 and 2025, respectively, and are net of reimbursements received from CorLyst, LLC.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Administrative & facilities expense primarily consists of facilities expenses, office expenses, legal costs, insurance, consulting, travel, and other administrative costs.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other income, net consists of interest and dividend income, unrealized loss on our digital asset, and other miscellaneous income.</td></tr> </table>

<p id="xdx_89B_eus-gaap--ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock_zSkzEuNrf6Nf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in">The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the three months ended March 31, 2026 and 2025: Schedule of Reportable Segment Profit and Loss, Including Significant Expense Categories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" id="xdx_49B_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--ReportableSegmentAggregationBeforeOtherOperatingSegmentMember_zMRxRiWmRNE4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_49A_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--ReportableSegmentAggregationBeforeOtherOperatingSegmentMember_zCSG5e6C27wh" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td></tr> <tr id="xdx_401_ecustom--PreclinicalClinicalTrialAndOtherCosts_msNILzlEq_zBVvRGsSTT53" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Preclinical, clinical trial and other costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,423,041</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,197,035</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_msNILzlEq_z6MdeqY7nZA6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Research and development personnel expense(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">391,505</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_msNILzlEq_z1XZ8xCeJp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">General and administrative personnel expense(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">676,382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">673,779</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdministrativeAndFacilitiesExpense_msNILzlEq_zl39Aozbae34" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Administrative and facilities expense(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">845,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">584,671</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherNonoperatingIncomeExpense_iN_di_maNILzlEq_zSiFCEqu4Yd2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other income, net(4)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,965</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12,585</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_iNT_di_mtNILzlEq_zLcRtSGClJVf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,377,179</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,834,405</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_iNT_di_mtNILzlEq_zbiFz5EymNl8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net loss</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,377,179</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,834,405</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: right">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Research and development personnel costs include employee stock-based compensation expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentPersonnelCostsMember_zP5hI0aKGK46" title="Personnel costs include employee stock-based compensation expense">17,144 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentPersonnelCostsMember_zTJ4y94mm8Vf" title="Personnel costs include employee stock-based compensation expense">46,720 for the three months ended March 31, 2026 and 2025, respectively.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">General and administrative personnel costs include employee stock-based compensation expense of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativePersonnelCostsMember_z2nTq1gSdgzh" title="Personnel costs include employee stock-based compensation expense">52,387 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJlcG9ydGFibGUgU2VnbWVudCBQcm9maXQgYW5kIExvc3MsIEluY2x1ZGluZyBTaWduaWZpY2FudCBFeHBlbnNlIENhdGVnb3JpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativePersonnelCostsMember_zAlN4Zq0Vot7" title="Personnel costs include employee stock-based compensation expense">122,655 for the three months ended March 31, 2026 and 2025, respectively, and are net of reimbursements received from CorLyst, LLC.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Administrative & facilities expense primarily consists of facilities expenses, office expenses, legal costs, insurance, consulting, travel, and other administrative costs.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other income, net consists of interest and dividend income, unrealized loss on our digital asset, and other miscellaneous income.</td></tr> </table>

1423041 1197035

386168

391505

676382

673779

845623 584671

-45965

12585

-3377179

-2834405

-3377179

-2834405

17144

46720

52387

122655

<p id="xdx_800_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zroB7KZd3NRf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Note 8 – Commitments and Contingencies Purchase Obligations We enter into contracts in the normal course of business with contract research organizations (CROs) and subcontractors to further develop our products. The contracts are cancelable, with varying provisions regarding termination. If we terminated a cancelable contract with a specific vendor, we would only be obligated for products or services that we received at the effective date of the termination and any applicable cancellation fees. At March 31, 2026, we are contractually obligated to pay up to $11.2 million of future services under the agreements with the CROs. Our actual contractual obligations will also vary depending on the progress and results of the remaining clinical trials.

11200000

false false false false Research and development personnel costs include employee stock-based compensation expense of $17,144 and $46,720 for the three months ended March 31, 2026 and 2025, respectively. General and administrative personnel costs include employee stock-based compensation expense of $52,387 and $122,655 for the three months ended March 31, 2026 and 2025, respectively, and are net of reimbursements received from CorLyst, LLC. Administrative & facilities expense primarily consists of facilities expenses, office expenses, legal costs, insurance, consulting, travel, and other administrative costs. Other income, net consists of interest and dividend income, unrealized loss on our digital asset, and other miscellaneous income.