Stockholders' Equity

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Stockholders' Equity

7. Stockholders’ equity

Common stock warrants

During its evaluation of equity classification for the Company's common stock warrants, the Company considered the conditions as prescribed within ASC 815-40, Derivatives and Hedging, Contracts in an Entity’s own Equity. The conditions within ASC 815-40 are not subject to a probability assessment. The warrants do not fall under the liability criteria within ASC 480 Distinguishing Liabilities from Equity as they are not puttable and do not represent an instrument that has a redeemable underlying security. The warrants do meet the definition of a derivative instrument under ASC 815, but are eligible for the scope exception as they are indexed to the Company’s own stock and would be classified in permanent equity if freestanding. No warrants were granted during the three and six months ended June 30, 2025.

As of June 30, 2025, the Company had the following warrants outstanding to acquire shares of its common stock (unaudited):

Warrant Type	Exercise price per share		Expiration date	Balance December 31, 2024		Balance June 30, 2025
Common stock warrants issued to underwriters as compensation for IPO	$	6.25	December 2026		131,703		131,703
Common stock warrants issued to placement agent as part of the convertible promissory notes conversion	$	6.00	January 2028		182,407		182,407
Common stock warrants issued in connection with the Series A convertible preferred stock issued in 2020	$	9.15	December 2025		92,184		92,184
Common stock warrants issued as compensation for the 2023 Private Placement	$	7.58	December 2027		259,383		259,383
Common stock warrants issued as compensation for the October 2024 Private Placement	$	7.00	November 2029		150,000		150,000
					815,677		815,677