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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 15,247,910 $ 21,362,008
Restricted cash 100,000 100,000
Prepaid expenses and other current assets 199,615 806,895
Total current assets 15,547,525 22,268,903
Equipment, net 2,721 5,442
Goodwill 14,869,399 14,869,399
Total assets 30,419,645 37,143,744
Current liabilities    
Accounts payable 896,799 1,607,844
Accrued expenses and other current liabilities 1,632,059 1,229,000
Total current liabilities 2,528,858 2,836,844
Liability related to the sale of future royalties 60,000,000 60,000,000
Total liabilities 62,528,858 62,836,844
Commitments and contingencies (Note 8)
Stockholders' deficit    
Preferred stock; $0.0001 par value; 100,000,000 shares authorized; none issued or outstanding as of June 30, 2025 and December 31, 2024
Common stock; $0.0001 par value; 125,000,000 shares authorized; 6,993,406 shares issued and outstanding as of June 30, 2025 and December 31, 2024 699 699
Additional paid-in capital 370,278,211 369,682,764
Accumulated deficit (402,388,123) (395,376,563)
Total stockholders' deficit (32,109,213) (25,693,100)
Total liabilities and stockholders' deficit $ 30,419,645 $ 37,143,744