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10-K true 2025-12-31 --12-31 2025 false 001-39555 GREENWICH LIFESCIENCES, INC. DE 20-5473709 3992 Bluebonnet Dr. Building 14 Stafford TX 77477 (832) 819-3232 Common Stock, $0.001 par value GLSI NASDAQ No No Yes Yes Non-accelerated Filer true false false true false false 56000000 14678208 0.001 We believe cybersecurity is critical to advancing our technological developments. As a biopharmaceutical company, we face a multitude of cybersecurity threats that range from attacks common to most industries, such as ransomware and denial-of service. Our customers, suppliers, subcontractors, and business partners face similar cybersecurity threats, and a cybersecurity incident impacting us or any of these entities could materially adversely affect our business strategy, performance, and results of operations. These cybersecurity threats and related risks make it imperative that we expend resources on cybersecurity. Risk Management <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250101__20251231_zsPwpU3ZaIDj">We engage third-party services to conduct evaluations of our security controls, whether through penetration testing, independent audits, or consulting on best practices to address new challenges. We have established cybersecurity security awareness training and ongoing monitoring. In the event of an incident, we intend to follow our cybersecurity incident response plan, which outlines the steps to be followed from incident detection to mitigation, and notification. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_zggZOxPoAL0j">We contract with external firms that have extensive information technology and program management experience. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250101__20251231_zCClldhvmyd4">We have implemented a governance structure and processes to assess, identify, manage, and report cybersecurity risks. As a biopharmaceutical company, we must comply with extensive regulations, including requirements imposed by the Federal Drug Administration related to adequately safeguarding patient information and reporting cybersecurity incidents to the SEC. We believe we are positioned to meet the requirements of the SEC. In addition to following SEC guidance and implementing pre-existing third party frameworks, we have developed our own practices and frameworks, which we believe enhance our ability to identify and manage cybersecurity risks. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20250101__20251231_z0aiZqEKcALh">Assessing, identifying, and managing cybersecurity related risks are factored into our overall business approach. We rely heavily on our supply chain to deliver our products and services, and a cybersecurity incident at a clinical site, subcontractor, or business partner could materially adversely impact us. We require that our subcontractors report cybersecurity incidents to us so that we can assess the direct impact of the incident. true true We have implemented a governance structure and processes to assess, identify, manage, and report cybersecurity risks. true Governance <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zahL90IBcbij">The Audit Committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full board of directors for consideration. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskProcessForInformingManagementOrCommitteesResponsibleTextBlock_c20250101__20251231_zVNMrNjsnzr">Senior management regularly discusses cyber risks and trends and, should they arise, any material incidents with the Audit Committee. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20250101__20251231_zCoWEhMl0bFc">While we have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_z2af1tI2ZfM1">not experienced any material cybersecurity threats or incidents in recent years, there can be no guarantee that we will not be the subject of future threats or incidents. Notwithstanding the extensive approach we take to cybersecurity, we may not be successful in preventing or mitigating a cybersecurity incident that could have a material adverse effect on us. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be fully insured. See “Risk Factors” for a discussion of cybersecurity risks. The Audit Committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full board of directors for consideration. Senior management regularly discusses cyber risks and trends and, should they arise, any material incidents with the Audit Committee. While we have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_z2af1tI2ZfM1">not experienced any material cybersecurity threats or incidents in recent years, there can be no guarantee that we will not be the subject of future threats or incidents. Notwithstanding the extensive approach we take to cybersecurity, we may not be successful in preventing or mitigating a cybersecurity incident that could have a material adverse effect on us. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be fully insured. See “Risk Factors” for a discussion of cybersecurity risks. false true 206 We have audited the accompanying balance sheets of Greenwich LifeSciences, Inc. (the “Company”) as of December 31, 2025 and 2024, and the related statements of operations, stockholders’ equity, and cash flows for the years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America. MaloneBailey, LLP Houston, Texas

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<p id="xdx_803_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zcSK5Jac2Ej" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">1. Organization and Description of the Business Greenwich LifeSciences, Inc. (the “Company”) was incorporated in the state of Delaware in 2006 under the name Norwell, Inc. In March 2018, Norwell, Inc. changed its name to Greenwich LifeSciences, Inc. In February 2023, Greenwich LifeSciences Europe Limited was incorporated as a wholly owned subsidiary in Ireland. The Company is developing a breast cancer immunotherapy focused on preventing the recurrence of breast cancer following surgery.

<p id="xdx_80C_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_z5UJ8ZbFOGf6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2. Going Concern The Company has prepared its financial statements on a going concern basis, which assumes that the Company will realize its assets and satisfy its liabilities in the normal course of business. However, the Company has incurred net losses since its inception and has negative operating cash flows. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of the uncertainty concerning the Company’s ability to continue as a going concern. As of December 31, 2025, the Company had cash of $6,178,021. For the foreseeable future, the Company’s ability to continue its operations is dependent upon its ability to obtain additional capital.

6178021

3. Significant Accounting Policies Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of US Securities and Exchange Commission (“SEC”). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in its financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates. Cash Cash consists primarily of deposits with commercial banks and financial institutions. These cash deposits exceed the insured limits at individual banks and financial institutions. <p id="xdx_84C_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zjk38AgGam83" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment when events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Recoverability is measured by comparison of the book values of the assets to future net undiscounted cash flows that the assets or the asset groups are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value, which is measured based on the estimated discounted future net cash flows arising from the assets or asset groups. No impairment losses on long-lived assets have been recorded through December 31, 2025. Leases In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02-Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company elected to adopt this update using the modified retrospective transition method and prior periods have not been restated. The current monthly rent is approximately $4,445. The month-to-month sub-lease is from a related party and the underlying lease expires in July of 2026. The Company has elected the practical expedient to not record right of use asset and lease obligation liability for leases with terms of less than 12 months. Stock-Based Compensation Compensation expense related to warrants and stock granted to employees and non-employees is measured at the grant date based on the estimated fair value of the award and is recognized on a straight-line basis over the requisite service period in the Company’s statements of income. Forfeitures are recognized as a reduction of stock-based compensation expense as they occur. Accounting guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has limited historical experience with forfeitures and were based on management’s estimates. Stock-based compensation expense for an award with a performance condition is recognized when the achievement of such performance condition is determined to be probable. If the outcome of such performance condition is not determined to be probable or is not met, no compensation expense is recognized and any previously recognized compensation expense is reversed. Research and Development Costs Research and development expenses are charged to operations as incurred. Research and development expenses include, among other things, salaries, costs of outside collaborators and outside services, and supplies. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS Income Taxes The Company’s income tax returns are based on calculations and assumptions that are subject to examination by the Internal Revenue Service and other tax authorities. In addition, the calculation of tax liabilities involves dealing with uncertainties in the application of complex tax regulations. Basic and Diluted Loss per Share The Company computes loss per share in accordance with Accounting Standards Codification (“ASC”) 260 — Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible notes payable using the if-converted method. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. During periods of net loss, all common stock equivalents are excluded from the diluted EPS calculation because they are antidilutive. As of December 31, 2025 the Company had no common stock equivalents related to warrants outstanding. As of December 31, 2024, the Company had common stock equivalents related to warrants outstanding to acquire <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zrIJguuzC091" title="Common stock equivalents to warrants outstanding"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zhcNW6ED1LT" title="Common stock equivalents to warrants outstanding">20,174 shares of the Company’s common stock. As of December 31, 2025 and 2024, the Company had common stock equivalents related to options outstanding to acquire <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8yzfTMQHj7k" title="Common stock equivalents to options outstanding">3,226,065 and <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5iC5ics5uB6" title="Common stock equivalents to options outstanding">3,126,065 shares of the Company’s common stock, respectively. As of December 31, 2025 and 2024, the Company has <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_do_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zB85A80zlOn1" title="Common stock equivalents"><span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_do_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zfCODS7Obahh" title="Common stock equivalents">no common stock equivalents related to convertible preferred stock issued and outstanding. <p id="xdx_84E_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zt5XYR4Bojd2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The main objective of the standard is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this standard replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The update is effective for the Company beginning January 1, 2023 with early adoption permitted. The Company adopted the standard on January 1, 2023. The adoption of this standard did not have a material effect on the Company’s audited consolidated financial statements and related disclosures. In October 2024, the FASB issued ASU 2024-03, which requires public business entities to provide detailed disclosures of specific expense categories—such as employee compensation, depreciation, and amortization—within the relevant expense captions on the income statement (e.g., Cost of Sales, SG&A). The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its financial statement disclosures. As this guidance relates to disclosure only, it is not expected to have a material impact on the Company’s financial position or results of operations. <p id="xdx_84F_ecustom--NewAccountingPronouncementsNotYetAdoptedPolicyPolicyTextBlock_zJLDial9oHg8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Issued Accounting Pronouncements Not Yet Adopted In July 2023, the FASB issued ASU No 2023-03, “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)” pursuant to SEC Staff Accounting Bulletin No. 120, which adds interpretive guidance for public companies to consider when entering into share-based payment transactions while in possession of material non-public information. The effective date of this update is for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The Company does not expect the adoption to have a material impact on our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. The main objective of the amendment is to modify the disclosure or presentation requirements of various Topics in the Codification. Certain amendments represent clarifications to or technical corrections of the current requirements. to eliminate disclosure requirements that were redundant, duplicative, overlapping, outdated, or superseded. The effective date for each amendment will be when the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is still evaluating the impact of the adoption of this standard.

Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of US Securities and Exchange Commission (“SEC”).

Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in its financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.

Cash Cash consists primarily of deposits with commercial banks and financial institutions. These cash deposits exceed the insured limits at individual banks and financial institutions.

<p id="xdx_84C_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zjk38AgGam83" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment when events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Recoverability is measured by comparison of the book values of the assets to future net undiscounted cash flows that the assets or the asset groups are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value, which is measured based on the estimated discounted future net cash flows arising from the assets or asset groups. No impairment losses on long-lived assets have been recorded through December 31, 2025.

Leases In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02-Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company elected to adopt this update using the modified retrospective transition method and prior periods have not been restated. The current monthly rent is approximately $4,445. The month-to-month sub-lease is from a related party and the underlying lease expires in July of 2026. The Company has elected the practical expedient to not record right of use asset and lease obligation liability for leases with terms of less than 12 months.

4445

the underlying lease expires in July of 2026.

Stock-Based Compensation Compensation expense related to warrants and stock granted to employees and non-employees is measured at the grant date based on the estimated fair value of the award and is recognized on a straight-line basis over the requisite service period in the Company’s statements of income. Forfeitures are recognized as a reduction of stock-based compensation expense as they occur. Accounting guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has limited historical experience with forfeitures and were based on management’s estimates. Stock-based compensation expense for an award with a performance condition is recognized when the achievement of such performance condition is determined to be probable. If the outcome of such performance condition is not determined to be probable or is not met, no compensation expense is recognized and any previously recognized compensation expense is reversed.

Research and Development Costs Research and development expenses are charged to operations as incurred. Research and development expenses include, among other things, salaries, costs of outside collaborators and outside services, and supplies. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS

Income Taxes The Company’s income tax returns are based on calculations and assumptions that are subject to examination by the Internal Revenue Service and other tax authorities. In addition, the calculation of tax liabilities involves dealing with uncertainties in the application of complex tax regulations.

Basic and Diluted Loss per Share The Company computes loss per share in accordance with Accounting Standards Codification (“ASC”) 260 — Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the statements of operations. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible notes payable using the if-converted method. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. During periods of net loss, all common stock equivalents are excluded from the diluted EPS calculation because they are antidilutive. As of December 31, 2025 the Company had no common stock equivalents related to warrants outstanding. As of December 31, 2024, the Company had common stock equivalents related to warrants outstanding to acquire <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zrIJguuzC091" title="Common stock equivalents to warrants outstanding"><span id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zhcNW6ED1LT" title="Common stock equivalents to warrants outstanding">20,174 shares of the Company’s common stock. As of December 31, 2025 and 2024, the Company had common stock equivalents related to options outstanding to acquire <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8yzfTMQHj7k" title="Common stock equivalents to options outstanding">3,226,065 and <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5iC5ics5uB6" title="Common stock equivalents to options outstanding">3,126,065 shares of the Company’s common stock, respectively. As of December 31, 2025 and 2024, the Company has <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_do_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zB85A80zlOn1" title="Common stock equivalents"><span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_do_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertiblePreferredStockMember_zfCODS7Obahh" title="Common stock equivalents">no common stock equivalents related to convertible preferred stock issued and outstanding.

20174

3226065

3126065

<p id="xdx_84E_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zt5XYR4Bojd2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The main objective of the standard is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this standard replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The update is effective for the Company beginning January 1, 2023 with early adoption permitted. The Company adopted the standard on January 1, 2023. The adoption of this standard did not have a material effect on the Company’s audited consolidated financial statements and related disclosures. In October 2024, the FASB issued ASU 2024-03, which requires public business entities to provide detailed disclosures of specific expense categories—such as employee compensation, depreciation, and amortization—within the relevant expense captions on the income statement (e.g., Cost of Sales, SG&A). The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its financial statement disclosures. As this guidance relates to disclosure only, it is not expected to have a material impact on the Company’s financial position or results of operations.

<p id="xdx_84F_ecustom--NewAccountingPronouncementsNotYetAdoptedPolicyPolicyTextBlock_zJLDial9oHg8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Issued Accounting Pronouncements Not Yet Adopted In July 2023, the FASB issued ASU No 2023-03, “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)” pursuant to SEC Staff Accounting Bulletin No. 120, which adds interpretive guidance for public companies to consider when entering into share-based payment transactions while in possession of material non-public information. The effective date of this update is for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The Company does not expect the adoption to have a material impact on our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. The main objective of the amendment is to modify the disclosure or presentation requirements of various Topics in the Codification. Certain amendments represent clarifications to or technical corrections of the current requirements. to eliminate disclosure requirements that were redundant, duplicative, overlapping, outdated, or superseded. The effective date for each amendment will be when the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is still evaluating the impact of the adoption of this standard. 4. Restatement of Previously Issued Financial Statements In connection with an improved accounts payable estimation process and the preparation of the Company’s financial statements for the fiscal year ended December 31, 2025, the Company discovered an error related to the prior year. The Company had recorded expenses of $1.6 million that were related to 2024 that were not accounted for as accounts payable related to research and development expenses. The error became material due to the large global Phase III clinical trial underway and the unexpectedly large increase in screening and patient enrollment in 2024 and 2025. This rapid expansion led to unanticipated delays in receiving invoices from clinical trial partners in Europe. The restatement results in an increase of accounts payable of $1.6 million for the year ended December 31, 2024 and increase in research and development expenses for the year ended December 31, 2024 and a corresponding decrease in research and development expenses for the March 31, 2025, June 30, 2025, and September 30, 2025 and year ended December 31, 2025 financial statements. In addition, the Company reclassified cash compensation and options expense between research and development and general and administration in 2024 and 2025, which does not contribute to the change in total operating expenses for any period and follows the nature of the increased clinical trial activities of employees, management, directors, and consultants. The reclassification of cash compensation and options expense between research and development and general and administration results in an increase to research and development expense and a decrease to general and administrative expense. There were no impacts to net cash used in operating activities for any period. The impacts of the restatement are summarized below in Section 4a for 2024 and Section 4b for 2025 financials. 4a. Restatement to December 31, 2024 Financials Schedule Impacts of the Restatement are Summarized Below <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: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zhx3ecQIS59h" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbwyD2ugSkFl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zT5efG2wEuM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_z12JcbK4MW97" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,952,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,528,188</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,480,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_zLUgrx6Ra6i8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,059,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(902,778</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,157,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_zjg7L7hR9Nuj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,011,817</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,625,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,637,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_zJP2cR3JfB48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,788,809</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,625,410</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,414,219</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbHnfhRKZAf6" title="Net loss per common share, basic"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zF5ykGWzjJ3d" title="Net loss per common share, diluted">(0.13</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.34</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zIzJ0C8qXCz5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,266,543</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">(7,266,543</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,559,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,625,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,185,143</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,093,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">4,093,769</td><td style="text-align: left"> </td></tr> </table> <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: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes reclassification of cash compensation and options expense between research and development and general and administration in 2024, which does not contribute to the change in total operating expenses for any period. </td></tr> </table> All referenced amounts for prior periods in these financial statements and the notes herein reflect the balances and amounts on a restated basis. 4b. Restatement to March 31, 2025, June 30, 2025, and September 30, 2025 Financials GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS <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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zwhoNP5zZ8S2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zIAzBK7VCkpe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zotKJ72cA0bh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpense_zhKeQFRdXbWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,601,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(329,974</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,271,148</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_zBndguDMkIUa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(183,608</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">497,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpenses_zLDnNOqWbDq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,282,332</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(513,582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,768,750</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zAybudlGFcV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,258,362</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,744,780</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.25</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zECvQdFvTPz3" title="Net loss per common share, basic"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_z44RjtCw9YZd" title="Net loss per common share, diluted">0.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_znAtIwNYvIC2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,834,454</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">(1,834,454</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,111,828</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,550,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,750,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">2,750,835</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250401__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zmQsE6Ll0oWa" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zPEAX4tsBlXe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630_zbnzhJ59bcl3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Three Months Ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_zGiVnrxOBW3f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,507,906</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(91,429</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,416,477</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GeneralAndAdministrativeExpense_znqYFOz3Ab03" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,047</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(185,209</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,838</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpenses_z4hdwzuM7V05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,045,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(276,638</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,769,315</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zdSOXn3JS8zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,025,278</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">276,638</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,748,640</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.30</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_pid_c20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zrUgW7XP0sXj" title="Net loss per common share, basic"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_pid_c20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zU7kU7EMvnO4" title="Net loss per common share, diluted">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.28</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--NetCashProvidedByUsedInOperatingActivities_dxL_c20250401__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zlbD9o8RO7s1" title="Net cash used in operating activities::XDX::-">N/A</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">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,685,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">835,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520,799</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,125,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">3,125,101</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDyXpAcWTGbg" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zAdADHDii8i3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250630_zgOWOwUZpQP6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Six Months Ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpense_zcyHJU7B2Ize" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">6,109,028</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(421,403</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,687,625</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_zVyADkcjLGq2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,219,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(368,817</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,440</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zMdTgF5AEk5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,328,285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(790,220</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,538,065</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zuUPmyYCZqOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,283,640</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,493,420</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.55</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zcjVOanMxpvh" title="Net loss per common share, basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zAR0WV1RN7Vg" title="Net loss per common share, diluted">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zrWKEpV0QuM1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,067,557</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">(4,067,557</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,685,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">835,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520,799</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,125,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">3,125,101</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250701__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zoQd7rbr5YYd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zCqVPUNZkbK8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250701__20250930_zt4ujKd44Cu7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold">Three Months Ended September 30, 2025 </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpense_zwAF25FJUj0g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,521,576</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(254,436</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,267,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_zZlLoRIdAepg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,066</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(186,140</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,926</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zSOwp3C2Vr54" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,174,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(440,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,734,066</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zVcPxgsbB4F1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,151,845</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,711,269</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.30</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EarningsPerShareBasic_pid_c20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zrvoNLM5Lnh8" title="Net loss per common share, basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_pid_c20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zeKjeHLDhvUi" title="Net loss per common share, diluted">0.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.27</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--NetCashProvidedByUsedInOperatingActivities_dxL_c20250701__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zfMOVYv6qBb7" title="Net cash used in operating activities::XDX::-">N/A</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">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,622,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,614</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,016,615</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,806,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">3,806,978</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zi35wPvjQR7b" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zCOpjJ0LS1C4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250930_zGpvjd1AzdBe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold">Nine Months Ended September 30, 2025 </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ResearchAndDevelopmentExpense_zedOXsSuWGPe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,630,604</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(675,839</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,954,765</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_zCygimu1mSy1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,872,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(554,957</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,317,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zG62T6LJ76l2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,502,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,230,796</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,272,131</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zUSOCPxydhDj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,435,485</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,230,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,204,689</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.85</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--EarningsPerShareBasic_pid_c20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbPt8ZvMgAfa" title="Net loss per common share, basic"><span id="xdx_905_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zntyBrhdmts5" title="Net loss per common share, diluted">0.09</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.76</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zpUQTx1fpDKh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,738,796</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">(6,738,796</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,622,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,614</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,016,615</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,806,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</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">3,806,978</td><td style="text-align: left"> </td></tr> </table> <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: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes reclassification of cash compensation and options expense between research and development and general and administration in 2025, which does not contribute to the change in total operating expenses for any period. </td></tr> </table> All referenced amounts for prior periods in these financial statements and the notes herein reflect the balances and amounts on a restated basis. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS

1600000

Schedule Impacts of the Restatement are Summarized Below <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: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zhx3ecQIS59h" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbwyD2ugSkFl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20241231_zT5efG2wEuM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_z12JcbK4MW97" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,952,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,528,188</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">15,480,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_zLUgrx6Ra6i8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,059,788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(902,778</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,157,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingExpenses_zjg7L7hR9Nuj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,011,817</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,625,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,637,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_zJP2cR3JfB48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,788,809</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,625,410</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,414,219</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbHnfhRKZAf6" title="Net loss per common share, basic"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zF5ykGWzjJ3d" title="Net loss per common share, diluted">(0.13</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.34</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zIzJ0C8qXCz5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,266,543</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">(7,266,543</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,559,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,625,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,185,143</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,093,769</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">4,093,769</td><td style="text-align: left"> </td></tr> </table> <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: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes reclassification of cash compensation and options expense between research and development and general and administration in 2024, which does not contribute to the change in total operating expenses for any period. </td></tr> </table> All referenced amounts for prior periods in these financial statements and the notes herein reflect the balances and amounts on a restated basis. 4b. Restatement to March 31, 2025, June 30, 2025, and September 30, 2025 Financials GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS <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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zwhoNP5zZ8S2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zIAzBK7VCkpe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zotKJ72cA0bh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpense_zhKeQFRdXbWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,601,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(329,974</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">2,271,148</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_zBndguDMkIUa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(183,608</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">497,602</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpenses_zLDnNOqWbDq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,282,332</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(513,582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,768,750</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zAybudlGFcV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,258,362</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,744,780</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.25</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zECvQdFvTPz3" title="Net loss per common share, basic"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_z44RjtCw9YZd" title="Net loss per common share, diluted">0.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_znAtIwNYvIC2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,834,454</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">(1,834,454</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,111,828</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,550,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,750,835</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">2,750,835</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250401__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zmQsE6Ll0oWa" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zPEAX4tsBlXe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630_zbnzhJ59bcl3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Three Months Ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_zGiVnrxOBW3f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,507,906</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(91,429</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">3,416,477</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GeneralAndAdministrativeExpense_znqYFOz3Ab03" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,047</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(185,209</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,838</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingExpenses_z4hdwzuM7V05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,045,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(276,638</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,769,315</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zdSOXn3JS8zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,025,278</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">276,638</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,748,640</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.30</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_pid_c20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zrUgW7XP0sXj" title="Net loss per common share, basic"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_pid_c20250401__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zU7kU7EMvnO4" title="Net loss per common share, diluted">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.28</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--NetCashProvidedByUsedInOperatingActivities_dxL_c20250401__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zlbD9o8RO7s1" title="Net cash used in operating activities::XDX::-">N/A</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">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,685,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">835,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520,799</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,125,101</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">3,125,101</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDyXpAcWTGbg" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zAdADHDii8i3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250630_zgOWOwUZpQP6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Six Months Ended June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpense_zcyHJU7B2Ize" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">6,109,028</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(421,403</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">5,687,625</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_zVyADkcjLGq2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,219,257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(368,817</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,440</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zMdTgF5AEk5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,328,285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(790,220</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,538,065</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zuUPmyYCZqOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,283,640</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,493,420</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.55</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zcjVOanMxpvh" title="Net loss per common share, basic"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250630__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zAR0WV1RN7Vg" title="Net loss per common share, diluted">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zrWKEpV0QuM1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,067,557</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">(4,067,557</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,685,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">835,190</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520,799</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,125,101</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">3,125,101</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250701__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zoQd7rbr5YYd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zCqVPUNZkbK8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250701__20250930_zt4ujKd44Cu7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold">Three Months Ended September 30, 2025 </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ResearchAndDevelopmentExpense_zwAF25FJUj0g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,521,576</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(254,436</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">3,267,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_zZlLoRIdAepg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,066</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(186,140</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,926</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zSOwp3C2Vr54" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,174,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(440,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,734,066</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zVcPxgsbB4F1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,151,845</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,711,269</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.30</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EarningsPerShareBasic_pid_c20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zrvoNLM5Lnh8" title="Net loss per common share, basic"><span id="xdx_908_eus-gaap--EarningsPerShareDiluted_pid_c20250701__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zeKjeHLDhvUi" title="Net loss per common share, diluted">0.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.27</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--NetCashProvidedByUsedInOperatingActivities_dxL_c20250701__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zfMOVYv6qBb7" title="Net cash used in operating activities::XDX::-">N/A</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">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,622,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,614</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,016,615</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,806,978</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">3,806,978</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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zi35wPvjQR7b" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zCOpjJ0LS1C4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250930_zGpvjd1AzdBe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold">Nine Months Ended September 30, 2025 </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impact of Restatement </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ResearchAndDevelopmentExpense_zedOXsSuWGPe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,630,604</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(675,839</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">8,954,765</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_zCygimu1mSy1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,872,323</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(554,957</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,317,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_zG62T6LJ76l2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,502,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,230,796</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,272,131</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NetIncomeLoss_zUSOCPxydhDj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,435,485</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,230,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,204,689</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.85</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--EarningsPerShareBasic_pid_c20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zbPt8ZvMgAfa" title="Net loss per common share, basic"><span id="xdx_905_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250930__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zntyBrhdmts5" title="Net loss per common share, diluted">0.09</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.76</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zpUQTx1fpDKh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,738,796</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">(6,738,796</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><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 style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,622,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,614</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,016,615</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,806,978</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">3,806,978</td><td style="text-align: left"> </td></tr> </table> <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: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes reclassification of cash compensation and options expense between research and development and general and administration in 2025, which does not contribute to the change in total operating expenses for any period. </td></tr> </table>

12952029

2528188

15480217

3059788

-902778

2157010

16011817

1625410

17637227

-15788809

-1625410

-17414219

-1.21

-0.13

-1.34

-7266543

1559733

1625410

3185143

4093769

2601122

-329974

2271148

681210

-183608

497602

3282332

-513582

2768750

-3258362

513582

-2744780

-0.25

0.04

-0.21

-1834454

1438524

1111828

2550352

2750835

3507906

-91429

3416477

538047

-185209

352838

4045953

-276638

3769315

-4025278

276638

-3748640

-0.30

0.02

-0.28

1685609

835190

2520799

3125101

6109028

-421403

5687625

1219257

-368817

850440

7328285

-790220

6538065

-7283640

790220

-6493420

-0.55

0.06

-0.49

-4067557

1685609

835190

2520799

3125101

3521576

-254436

3267140

653066

-186140

466926

4174642

-440576

3734066

-4151845

440576

-3711269

-0.30

0.03

-0.27

1622001

394614

2016615

3806978

9630604

-675839

8954765

1872323

-554957

1317366

11502927

-1230796

10272131

-11435485

1230796

-10204689

-0.85

0.09

-0.76

-6738796

1622001

394614

2016615

3806978

<p id="xdx_809_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zbKgF33StG8k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">5. Related Party Transactions The month-to-month sub-lease described in Section 3 is from a related party. The current monthly rent is approximately $4,445, which has been paid each month by the Company for the full years ending December 31, 2025 and 2024. Unreimbursed expenses for clinical trial and shipping costs, travel expenses, all Euro denomination-based expenses, and other miscellaneous expenses have been accrued and incurred by Snehal Patel and two family members who are contracted or employed by the Company, which total $276,496 as of December 31, 2025 and $75,916 as of December 31, 2024. The total reimbursements submitted for the full years ending December 31, 2025 and 2024 were approximately $<span id="xdx_900_ecustom--ReimbursementsAmount_pn5n6_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SnehalPatelAndTwoFamilyMembersMember_zWknskxrvdM9" title="Reimbursements amount">3.8 million and $<span id="xdx_903_ecustom--ReimbursementsAmount_pn5n6_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SnehalPatelAndTwoFamilyMembersMember_zg6zD0CMjxw3" title="Reimbursements amount">1.8 million, respectively. Bonus compensation of $367,538 for senior management for services provided in 2025 has been deferred. Bonus compensation of $306,281 for senior management for services provided in 2024 has been deferred. The total outstanding deferred compensation for the full years ending December 31, 2025 and 2024 were $<span id="xdx_903_eus-gaap--DeferredCompensationArrangementWithIndividualRecordedLiability_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeniorManagementMember_zzd7pJFrOQ7" title="Outstanding deferred compensation">673,819 and $<span id="xdx_900_eus-gaap--DeferredCompensationArrangementWithIndividualRecordedLiability_iI_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeniorManagementMember_zlYplqegm7C3" title="Outstanding deferred compensation">306,281, respectively. On June 13, 2024, the Company completed a private placement offering pursuant to which it issued and sold <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240613__20240613__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChiefExecutiveOfficerAndDirectorMember_zHdYmVOF5mik" title="Shares issued and sold">174,825 shares of its common stock at a price of $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_c20240613__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChiefExecutiveOfficerAndDirectorMember_z7ecFYdnZwmi" title="Sale of stock, per share">14.30 per share to Snehal Patel, the Company’s Chief Executive Officer and director, for net proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20240613__20240613__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChiefExecutiveOfficerAndDirectorMember_zg018Knz1G58" title="Net proceeds">2,499,998. Mr. Patel agreed to a one year lock-up agreement with respect to his shares of common stock acquired in the offering. Two other members of Snehal Patel’s family are contracted or employed by the Company. The total cash compensation paid to the two family members for the full years ending December 31, 2025 and 2024 were approximately $<span id="xdx_902_eus-gaap--DeferredCompensationCashBasedArrangementsLiabilityCurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoFamilyMembersMember_zfdcwAPTecCd" title="Cash compensation paid">249,000 and $<span id="xdx_901_eus-gaap--DeferredCompensationCashBasedArrangementsLiabilityCurrent_iI_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoFamilyMembersMember_zucIHRJb0kii" title="Cash compensation paid">224,000, respectively. The total option compensation paid to the two family members for the full years ending December 31, 2025 and 2024 were approximately $<span id="xdx_905_eus-gaap--DeferredCompensationShareBasedArrangementsLiabilityCurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoFamilyMembersMember_zWOPhbQAxhmc" title="Option compensation paid">266,000 and $<span id="xdx_90B_eus-gaap--DeferredCompensationShareBasedArrangementsLiabilityCurrent_iI_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoFamilyMembersMember_zxxgAaxVjZCj" title="Option compensation paid">270,000, respectively.

4445

276496

75916

3800000 1800000

367538

306281

673819

306281

174825

14.30

2499998

249000

224000

266000

270000

6. Income Taxes <p id="xdx_893_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zRGCijorNUtj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Significant components of the Company’s deferred tax assets and liabilities were as follows: Schedule of Components of Deferred Tax Assets and Liabilities <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="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zOiXww0kLTdl" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zzgb3fJCoBKg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_iB_zHAwF2zFbrLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</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_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTANzNJ2_zVZUX2hhGcK8" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,275,559</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">6,639,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzNJ2_zcuee2cBqcJb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,275,559</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,639,032</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzNJ2_zjh71Lxabnr4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</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> </table> The federal income tax rate used for 2025 and 2024 was 21%. At December 31, 2025, the Company had federal net operating loss (“NOL”) carryforwards of approximately $44.2 million that will expire in tax years up through 2037. The NOLs generated in tax years 2018 and forward will carry forward indefinitely, but the deductibility of such federal net operating losses is limited. The NOL and tax credit carryforwards may be further subject to the application of Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), as discussed further below. The Company has provided a valuation allowance to offset the deferred tax assets due to the uncertainty of realizing the benefits of the net deferred tax asset. The Company’s issuances of common and preferred stock may have resulted in ownership changes as defined by Section 382 of the Code. The Company has not conducted a Section 382 study to date. It is possible that a future analysis may result in the conclusion that a portion of the Company’s NOL carryforwards and R&D tax credit carryforwards will be limited due to Sections 382 and 383 of the Code. The Company is subject to U.S. federal tax examinations by tax authorities for the years 2010 to 2009 due to the fact that NOL carryforwards exist going back to 2010 that may be utilized on a current or future year tax return.

<p id="xdx_893_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zRGCijorNUtj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Significant components of the Company’s deferred tax assets and liabilities were as follows: Schedule of Components of Deferred Tax Assets and Liabilities <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="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zOiXww0kLTdl" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zzgb3fJCoBKg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ComponentsOfDeferredTaxAssetsAndLiabilitiesAbstract_iB_zHAwF2zFbrLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</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_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTANzNJ2_zVZUX2hhGcK8" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,275,559</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">6,639,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzNJ2_zcuee2cBqcJb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,275,559</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,639,032</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzNJ2_zjh71Lxabnr4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</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> </table>

9275559

6639032

9275559

6639032

44200000

2037

<p id="xdx_803_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zFSVhMGyLsZ7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">7. Commitments and Contingencies License Obligation, Legal Expenses, and Manufacturing Agreements The Company entered into an exclusive license agreement with The Henry M. Jackson Foundation (“HJF”) in April 2009, as amended, pursuant to which it acquired exclusive marketing rights to GP2, the Company’s product candidate. In consideration for such licensed rights, the Company issued HJF <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20090401__20090430__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TheHenryMJacksonFoundationMember_zpvUY0M6F3E7" title="Shares issued during period common stock">202,619 shares of the Company’s common stock valued at $<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_iI_c20090430__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember__dei--LegalEntityAxis__custom--TheHenryMJacksonFoundationMember_zObDIecemHGg" title="Shares issued price per share">0.267 per share, which is amortized over <span id="xdx_909_ecustom--AmortizedPeriod_dtY_c20090401__20090430__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TheHenryMJacksonFoundationMember_zDFrEiQ4z1S3" title="Amortized period">15 years at $<span id="xdx_906_eus-gaap--AdjustmentForAmortization_c20090401__20090430__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TheHenryMJacksonFoundationMember_zBZczdzLwDJ4" title="Amortized value">3,607 per year. Pursuant to the exclusive license agreement, the Company is required to pay an annual maintenance fee, milestone payments and royalty payments based on sales of GP2 and to reimburse HJF for patent expenses related to GP2. The Company currently depends on third-party contract manufacturers for all required raw materials, active pharmaceutical ingredients, and finished product candidate for the Company’s clinical trials. Accounts payable includes the following obligations to HJF which include accrued interest which totals $220,845 and patent expense reimbursement which totals $245,966 as of December 31, 2025 and 2024. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS Deferred Compensation Bonus compensation of $367,538 for senior management for services provided in 2025 has been deferred. Bonus compensation of $306,281 for senior management for services provided in 2024 has been deferred. Legal Proceedings From time to time, the Company may be involved in disputes, including litigation, relating to claims arising out of operations in the normal course of business. Any of these claims could subject the Company to costly legal expenses and, while management generally believes that there will be adequate insurance to cover different liabilities at such time the Company becomes a public company and commences clinical trials, the Company’s future insurance carriers may deny coverage or policy limits may be inadequate to fully satisfy any damage awards or settlements. If this were to happen, the payment of any such awards could have a material adverse effect on the results of operations and financial position. Additionally, any such claims, whether or not successful, could damage the Company’s reputation and business. The Company is currently not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, could have a material adverse effect on our results of operations or financial position.

202619

0.267

P15Y

3607

220845

245966 245966

367538

306281

8. Stockholders’ Equity On September 30, 2019, the board of directors and stockholders of the Company adopted the Greenwich LifeSciences, Inc. 2019 Equity Incentive Plan setting aside and reserving <span id="xdx_90E_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pn5n6_c20190930__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenEquityIncentivePlanMember_zxlaTNpbCfg8" title="Common stock capital shares reserved for future issuance">1.5 million shares of common stock without any issuance of common stock or options under the plan. On December 19, 2024, the board of directors and stockholders of the Company amended the Greenwich LifeSciences, Inc. 2019 Equity Incentive Plan setting aside and reserving an additional <span id="xdx_906_ecustom--AdditionalCommonStockCapitalSharesReservedForFutureIssuance_iI_pn5n6_c20241219__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFourAmendedEquityIncentivePlanMember_z8RF3R5GaN45" title="Additional common stock capital shares reserved for future issuance">2.5 million shares of common stock for a total of<span id="xdx_90C_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pn6n6_c20241219__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFourAmendedEquityIncentivePlanMember_z6M9S5HpXkag" title="Common stock capital shares reserved for future issuance"> 4 million shares of common stock (the “2024 Amended Equity Incentive Plan”). As of December 31, 2025 and 2024, 893,181 shares of the <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zJWr2I1LRgFb" title="Number of shares granted"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zu1Tn4OfYmvk" title="Number of shares granted">908,362 shares of the common stock grant, which includes an additional grant of 120 shares issued during the vesting period due to rounding up of fractional shares, had vested at approximately $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_c20251231_zqR5Tuf4WUbh" title="Aggregate vested shares value">2,009,657 value and 15,181 shares remain unvested and unrecognized at approximately $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20251231_zi9GGwkENxdi" title="Unrecognized value of shares">34,157 value. In 2025 and 2024, <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_do_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zi1cIUI8pb7g" title="Common stock grant vested shares"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_do_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWEdJfykP8ne" title="Common stock grant vested shares">no shares of common stock grant vested. On January 23, 2022, the board of directors authorized the Company’s management to implement a stock repurchase program for up to $10 million of the Company’s common stock at any time. The term of the board of directors authorization of the repurchase program is until March 31, 2023. The repurchase program may be suspended or discontinued at any time and will be funded using the Company’s working capital. As of December 31, 2023, approximately 519,828 shares of the Company’s common stock has been repurchased and cancelled at an aggregate purchase price, including all transactions costs, of approximately $7,536,216. On January 23, 2022, November 30, 2022, November 17, 2023, March 12, 2024, March 2, 2025, and December 27, 2025, the board of directors sequentially extended the lock-up of the shares owned by the Company’s directors, officers, and existing pre-IPO investors to September 30, 2026 (approximately 72 months from date of the Company’s IPO). During this period, current officers, directors and certain shareholders will not be able to sell their shares of the Company’s common stock unless otherwise modified by the board of directors. After September 30, 2026, leak-out provisions will become effective unless otherwise modified by the board of directors. Between January 1, 2025 and December 31, 2025, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 1,125,543 shares of its common stock at an average offering price of $10.85 per share for gross proceeds of $<span id="xdx_902_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ATMAgreementMember_zgwJjYxuw2J4" title="Gross proceeds from sale of shares">12,210,213 and net proceeds of $11,854,484, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_90A_eus-gaap--PaymentsOfStockIssuanceCosts_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ATMAgreementMember_zcJ3KgNWcqzi" title="Underwriting discounts, commissions and offering expenses">355,729. Between January 1, 2024 and December 31, 2024, the Company sold shares of its common stock pursuant to its ATM agreement with Jefferies and H.C. Wainwright, in which it issued and sold a total of 129,739 shares of its common stock at an average offering price of $15.92 per share for gross proceeds of $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ATMAgreementMember_zz6YTsmaVvii" title="Gross proceeds from sale of shares">2,065,366 and net proceeds of $1,869,111, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_90E_eus-gaap--PaymentsOfStockIssuanceCosts_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ATMAgreementMember_zZOizXBHXbZ" title="Underwriting discounts, commissions and offering expenses">196,257. On June 22, 2020, the Company filed an amendment to its Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), to effectuate a <span id="xdx_90A_eus-gaap--StockholdersEquityReverseStockSplit_c20200621__20200622__us-gaap--TypeOfArrangementAxis__custom--AmendedAndRestatedCertificateOfIncorporationMember_zyyWKLrWWLZ7" title="Reverse stock split">1-for-2.67 reverse stock split of the Company’s issued and outstanding common and preferred stock. No fractional shares were issued and any fractional shares resulting from the stock split were rounded up to the nearest whole share. All common and preferred stock share and per-share data and conversion or exercise price data for applicable common stock equivalents included in these financial statements have been retroactively adjusted to reflect the reverse stock split. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS Initial Public Offering (IPO) On September 25, 2020, the Company completed its initial public offering (the “IPO”) pursuant to which it issued and sold 1,260,870 shares of its common stock at a public offering price of $5.75 per share for gross proceeds of $7,250,002 and net proceeds of $6,207,502, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_906_eus-gaap--PaymentsOfStockIssuanceCosts_c20200924__20200925__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_pp0p0" title="Underwriting discounts and commissions and offering expenses">1,042,500. In addition, the Company granted the underwriters a 45-day option to purchase up to <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20200924__20200925__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zvrmSHoTGSfg" title="Option to purchase of common stock shares">189,130 additional shares of common stock at the public offering price, less offering expenses, to cover over-allotments, if any. On September 29, 2020, in connection with the completion of the IPO, the Company converted all of the outstanding shares of Series A Preferred Stock into an aggregate of <span id="xdx_90C_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zEkahH2tJB07" title="Converted shares of preferred stock into common stock">1,520,937 shares of common stock, all of the outstanding shares of Series B Preferred Stock into an aggregate of <span id="xdx_906_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zmwJYFMh3RZ3" title="Converted shares of preferred stock into common stock">129,267 shares of common stock, all of the outstanding shares of Series C Preferred Stock into an aggregate of <span id="xdx_901_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zKWDjU9bsCz" title="Converted shares of preferred stock into common stock">66,575 shares of common stock and all of the outstanding shares of Series D Preferred Stock into an aggregate of <span id="xdx_903_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zIjxw0MFL9o4" title="Converted shares of preferred stock into common stock">305,990 shares of common stock upon the closing of the IPO, which included the issuance of an aggregate of <span id="xdx_902_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zzJTfvjUUi6g" title="Additional common shares issuable upon conversion of preferred stock">42,404 additional shares of common stock upon the issuance and conversion of an additional <span id="xdx_902_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_c20200929__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zGLrMYWOWMI8" title="Additional common shares issuable upon conversion of preferred stock">42,404 shares of Series D Preferred Stock issuable in connection with the IPO as a result of the anti-dilution protection set forth in the Company’s Certificate of Incorporation; based upon the IPO price of $5.75 per share. On September 29, 2020, in connection with the completion of the IPO, the board and stockholders of the Company approved the Company’s Second Amended and Restated Bylaws and the filing of the Company’s Second Amended and Restated Certificate of Incorporation with the Delaware Secretary of State which authorizes the Company to issue 100,000,000 shares of common stock with a par value of $0.001 per share and 10,000,000 shares of preferred stock with a par value of $0.001 per share. In addition, on September 29, 2020, the Company entered into an employment agreement with Snehal Patel pursuant to which Mr. Patel will serve as the Company’s Chief Executive Officer as described in the Company Current Report on Form 8-K filed with the SEC on October 1, 2020. Follow-On Offering On December 22, 2020, the Company completed a follow-on offering pursuant to which it issued and sold 660,000 shares of its common stock at a public offering price of $40.00 per share for gross proceeds of $26,400,000 and net proceeds of $23,959,000, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_90E_ecustom--NetOfUnderwritingDiscountCommissionAndOfferingExpenses_c20201221__20201222__us-gaap--SubsidiarySaleOfStockAxis__custom--FollowOnOfferingMember_zVqowRnbSHLb" title="Net of underwriting discount commission and offering expenses">2,441,000. In addition, the Company granted the underwriters a 45-day option to purchase up to <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20201221__20201222__us-gaap--SubsidiarySaleOfStockAxis__custom--FollowOnOfferingMember_zsfIcqt8I02c" title="Option to purchase of common stock shares">99,000 additional shares of common stock at the public offering price, less offering expenses, to cover over-allotments, if any. On January 29, 2021, the underwriter exercised its option to purchase <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20210128__20210129__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zx2ec1gvLgte" title="Exercised option to purchase of shares">70,000 additional shares of common stock at the public offering price of $40.00 per share for gross proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20210128__20210129__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zxlVy2XnL7p9" title="Gross proceeds from sale of shares">2,800,000 and net proceeds of $<span id="xdx_901_ecustom--NetProceedsFromIssuanceOfCommonStock_c20210128__20210129__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zceDdEng0Xx1" title="Net proceeds from sale of shares">2,548,000, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_90D_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20210128__20210129__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zhahGDw84pr7" title="Underwriting discounts and commissions and offering expenses">252,000. GREENWICH LIFESCIENCES, INC. NOTES TO FINANCIAL STATEMENTS Warrants Prior to the IPO, there were no outstanding warrants to purchase shares of common stock accounted for as equity or liabilities. On September 25, 2020, in connection with the IPO, the underwriter, Aegis Capital Corp., was issued a warrant to purchase <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zJNDLzp5drX9" title="Warrants to purchase of common stock">100,870 shares of common stock, representing <span id="xdx_904_eus-gaap--SaleOfStockPercentageOfOwnershipBeforeTransaction_dp_uPure_c20200924__20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zaF4X98CZ0zb" title="Sale of shares percentage">8% of the number of shares sold in the IPO, excluding the over-allotment option. The warrants will be exercisable at any time and from time to time, in whole or in part, during a period commencing March 24, 2021 and expiring <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zYRDor0n58H9" title="Warrants expiration date">September 24, 2025. The warrants will be exercisable at a price equal to $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_uUSDPShares_c20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zG9eb6V8K4Pl" title="Warrant exercise price">7.1875 per share, which represents <span id="xdx_90D_ecustom--PublicOfferingPricePercentage_pid_dp_uPure_c20200924__20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zZibTTokqqia" title="Public offering price, percentage">125% of the public offering price per share of common stock sold in the IPO. In the event that a registration statement registering the common stock underlying the warrants is not effective, the warrants may be exercised on a cashless basis. If the warrants are exercised for cash within the first six months of the period in which they are exercisable, the exercise price will be equal to <span id="xdx_90B_ecustom--WarrantsExercisePricePercentage_pid_dp_uPure_c20200924__20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zV3NimYlSC08" title="Warrants exercise price, percentage">97% of <span id="xdx_909_ecustom--PublicOfferingPricePercentage_pid_dp_uPure_c20200924__20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zUNPZ92OnhQ1" title="Public offering price, percentage">125% of the public offering price or $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_pid_uUSDPShares_c20200925__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__dei--LegalEntityAxis__custom--AegisCapitalCorpMember_zU2NIt7ZL1Ak" title="Public offering price">6.9718 per share. On October 19, 2021, the underwriter warrants were partially exercised resulting in the issuance of <span id="xdx_907_ecustom--IssuanceOfCommonStockThroughPartialExerciseOfUnderwriterWarrantsShares_pid_c20211017__20211019__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zl7SxL1T358k" title="Issuance of common stock through partial exercise of underwriter warrants, shares">80,696 shares of common stock and gross proceeds to the Company of $<span id="xdx_90E_ecustom--IssuanceOfCommonStockThroughPartialExerciseOfUnderwriterWarrants_c20211017__20211019_z8PlqBksA0Tl" title="Issuance of common stock through partial exercise of underwriter warrants and gross proceeds">562,596. In September 2025, the remaining underwriter warrants were exercised resulting in the issuance of <span id="xdx_908_ecustom--IssuanceOfCommonStockThroughPartialExerciseOfUnderwriterWarrantsShares_pid_c20250901__20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zXnHz8DDlQKc" title="Issuance of common stock through partial exercise of underwriter warrants, shares">20,174 shares of common stock and gross proceeds to the Company of $<span id="xdx_90A_ecustom--IssuanceOfCommonStockThroughPartialExerciseOfUnderwriterWarrants_c20250901__20250930_zAwPxQWsKoZe" title="Issuance of common stock through partial exercise of underwriter warrants and gross proceeds">145,000. Options On June 22, 2022, prior to the close of the Nasdaq market, <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220622__20220622__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zsWqN2rhPNZi" title="Number of shares granted">1,498,128 shares of common stock were granted to employees, consultants, and directors issuable upon exercise of outstanding stock options under the Company’s 2019 Equity Incentive Plan at an exercise price of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220622__20220622__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zEGmwX39q9nh" title="Exercise price">7.63 per share, which was the most recent prior closing share price on June 21, 2022. The options had a fair value on the grant date of $<span id="xdx_90E_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensation_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zMVbAYixNivg" title="Stock granted">9,512,356, based on a risk-free rate of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zi2cKQIr0KUa" title="Risk-free interest rate">3.2% and an annualized volatility of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zaU0MoUhrla" title="Voltality rate">106%, of which $8,382,760 was expensed through December 31, 2025 and $<span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zwTF42YDKSsl" title="Fair value">1,129,596 will be expensed in the future if and as vesting occurs. As of December 31, 2024, $<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenEquityIncentivePlanMember_zpAf5L0Bcp4a" title="Fair value">6,004,672 was expensed. Vesting will be based on time of service over a four year period. On December 24, 2024, prior to the close of the Nasdaq market, <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20241223__20241224__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zgk2TlR42Xg1" title="Number of shares granted">1,627,937 shares of common stock were granted to employees, consultants, and directors issuable upon exercise of outstanding stock options under the Company’s Amended 2024 Equity Incentive Plan at an exercise price of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20241223__20241224__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zDAPA3R0QTB7" title="Exercise price">12.16 per share, which was the most recent prior closing share price on December 23, 2024. The options had a fair value on the grant date of $<span id="xdx_904_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensation_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zbZBzvNPthj7" title="Stock granted">16,190,565, based on a risk-free rate of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zeixFhSfm3U5" title="Risk-free interest rate">4.5% and an annualized volatility of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zESplGMxmQ5i" title="Voltality rate">103%, of which $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_z7LsI8W5GXF5" title="Compensation expense">8,674,007 was expensed through December 31, 2025 and $<span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zDKSbO8bjbXh" title="Fair value">7,516,558 will be expensed in the future if and as vesting occurs. As of December 31, 2024, $<span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zXRnR1VLy6J2" title="Fair value">4,875,239 was expensed. Vesting will consist of <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_pid_c20241224__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_ztER3EBshRmd" title="Number of options vested and expected to vest">100,000 shares vesting upfront on December 24, 2024 and of the remaining shares, <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_c20241224__20241224__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_ztrgiKTb0rhi" title="Vesting rights percentage">25% vesting upfront on December 24, 2024 and <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_dp_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zsTFhfx0flXg" title="Vesting rights percentage">75% vesting based on time of service over a <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dc_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zTgGDTLZmAq8" title="Vesting term">three year period. On November 13, 2025, after the close of the Nasdaq market, <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20251113__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zqaXB4LsBk78">100,000 shares of common stock were granted and vested to management issuable upon exercise of outstanding stock options under the Company’s Amended 2024 Equity Incentive Plan at an exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20251112__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zgZGI8O5tpae">8.20 per share, which was the closing share price on November 13, 2025. The options had a fair value on the grant date of $<span id="xdx_90B_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensation_c20251113__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zKEALlARnoif" title="Stock granted">626,469, based on a risk-free rate of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20251113__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zTNzQ6J74BOa" title="Risk-free rate">3.7% and an annualized volatility of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20251113__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_z1ot7tAng3n4" title="Volatility rate">101%, of which $<span id="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_c20251113__20251113__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFourEquityIncentivePlanMember_zFShWoWZ4Dce" title="Compensation expense">626,469 was expensed through December 31, 2025. Private Placement On June 13, 2024, prior to the close of the Nasdaq market, the Company completed a private placement offering pursuant to which it issued and sold <span id="xdx_901_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240613__20240613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndDirectorMember_zc56OewJY6R3" title="Number of shares sold">174,825 shares of its common stock at a price of $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndDirectorMember_z5NpcDCG1xx1" title="Shares sold price per share">14.30 per share, which was the most recent prior closing share price on June 12, 2024, to Snehal Patel, the Company’s Chief Executive Officer and director, for net proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20240612__20240612__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndDirectorMember_zX2ITmlngg91" title="Proceeds from sale of shares">2,499,998. No investment banking fees were paid in connection with the offering. Mr. Patel agreed to a one year lock-up agreement with respect to his shares of common stock acquired in the offering.

1500000

2500000

4000000

893181

908362

120

2009657

15181

34157

10000000

2023-03-31

519828

7536216

1125543

10.85

12210213

11854484

355729

129739

15.92

2065366

1869111

196257

1-for-2.67

1260870

5.75

7250002

6207502

1042500

189130

1520937

129267

66575

305990

42404

5.75

100000000

0.001

10000000

0.001

660000

40.00

26400000

23959000 2441000

99000

70000

40.00

2800000

2548000

252000

100870

0.08

2025-09-24

7.1875

1.25 0.97 1.25

6.9718

80696 562596 20174 145000

1498128

7.63

9512356

0.032

1.06

8382760

1129596

6004672

1627937

12.16

16190565

0.045

1.03

8674007

7516558

4875239

100000

0.25

0.75

P3Y

100000

8.20

626469

0.037

1.01

626469

174825

14.30

2499998

9. Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Chief Executive Officer. The Company views its operations and manages its business as one operating segment, which includes all activities related to its clinical development programs. The determination of a single reportable segment is consistent with the financial information provided to the CODM. The CODM views and manages the Company’s clinical development programs as a single reportable segment for which all operations are centralized and does not evaluate any other discrete financial information. The accounting policies of the Company’s single reportable segment are the same as those for the financial statements. Segment loss is measured as the Company’s net loss as reported on the statement of operations, which includes segment expenses such as research and development and general and administrative expenses and other segment items such as interest income. As the Company does not currently generate revenues or profit, the CODM evaluates performance, makes decisions, allocates resources, and plans future activities through analysis of segment expense information. The CODM also monitors the Company’s cash and cash equivalents and net cash used in operations as reported on the balance sheet and the statement of cash flows, respectively. The measure of total segment assets is reported on the balance sheet as total assets.

10. Subsequent Events The Company has evaluated events through, the filing date of this Annual Report on Form 10-K, and determined that there have been no subsequent events that occurred that would require adjustments to our disclosures in the financial statements, other than the following: Between January 1, 2026 and April 15, 2026, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260101__20260415__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--AtTheMarketOfferingMember_z5DE50Qm4yE4" title="Number of share issued">379,762 shares of its common stock at an average offering price of $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20260415__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--AtTheMarketOfferingMember_zzWgYU3VXh47" title="Average offering price per share">25.36 per share for gross proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260101__20260415__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--AtTheMarketOfferingMember_zdOJRDvfss8g" title="Gross proceeds">9,629,468 and net proceeds of $<span id="xdx_902_ecustom--NetProceedsFromIssuanceOfCommonStock_c20260101__20260415__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--AtTheMarketOfferingMember_zNKSM6RAKMM1" title="Net proceeds">9,340,576, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $<span id="xdx_908_ecustom--NetOfUnderwritingDiscountCommissionAndOfferingExpenses_c20260101__20260415__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--AtTheMarketOfferingMember_zWGuo5DVno0l" title="Underwriting discounts and commissions and offering expenses">288,892. Total shares outstanding as of May 26, 2026, do not exclude <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationForfeited_c20260526__20260526__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zpLJoLLsSSZd" title="Number of shares cancelled">108,208 shares of common stock which were cancelled on January 10, 2026, due to breaches of agreements by an existing shareholder.

379762

25.36

9629468

9340576 288892

108208

Includes reclassification of cash compensation and options expense between research and development and general and administration in 2024, which does not contribute to the change in total operating expenses for any period. Includes reclassification of cash compensation and options expense between research and development and general and administration in 2025, which does not contribute to the change in total operating expenses for any period.