v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue:    
Collaboration Revenue $ 16,000,000 $ 0
Grant Revenue 20,000 0
Total Revenue 16,020,000 0
Operating Expenses:    
General and Administrative 5,542,324 4,663,146
Research and Development 7,842,207 4,027,037
Collaboration Credit (2,945,350) 0
In-Process R&D Impairment 2,008,000 1,904,314
Change in Fair Value of Contingent Consideration (937,469) 1,992,399
Total Operating Expenses 11,509,712 12,586,896
Operating Income (Loss) Before Other Income 4,510,288 (12,586,896)
Other Income (Expense), Net:    
Impairment of Intangible Assets (104,167) 0
Loss on Disposal of Fixed Assets (3,859) (28,379)
Interest Income 1,252,849 173,989
Interest Expense (21,446) (11,132)
Other Income, Net 26,073 28,841
Total Other Income, Net 1,149,450 163,319
Income (Loss) Before Income Tax Expense 5,659,738 (12,423,577)
Income Tax Expense (2,065,005) (90,319)
Net Income (Loss) 3,594,733 (12,513,896)
Deemed Dividends from Warrant Reset Provision 0 (530,985)
Net Loss Attributable to Common Shareholders, basic 3,594,733 (13,044,881)
Net Loss Attributable to Common Shareholders, diluted $ 3,594,733 $ (13,044,881)
Net Loss per Common Share - Basic (in usd per share) $ 0.93 $ (24.25)
Weighted Average Shares Outstanding - Basic (in shares) 3,872,644 538,007
Net Loss per Common Share - Diluted (in usd per share) $ 0.87 $ (24.25)
Weighted Average Shares Outstanding - Diluted (in shares) 4,125,075 538,007
Other Comprehensive Income (Loss):    
Net Income (Loss) $ 3,594,733 $ (12,513,896)
Unrealized Gain on Marketable Securities 29,719 0
Foreign Currency Translation Adjustments (129,077) (60)
Comprehensive Income (Loss) $ 3,495,375 $ (12,513,956)

Source

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