Annual report [Section 13 and 15(d), not S-K Item 405]

Equity Incentive Plan (Tables)

v3.26.1
Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Weighted Average Assumptions used for Stock Options

The following table presents the weighted-average assumptions used for stock options granted during the following periods:

 

    2025     2024  
   

Years Ended

December 31,

 
    2025     2024  
Grant date fair value   $ 11.59     $ 47.73  
Risk-free interest rate     4.7 %     3.9 %
Dividend yield     0.00 %     0.00 %
Expected life in years     5.9       7.9  
Expected volatility     110 %     107 %
Schedule of Stock Based Compensation Expense

The following table summarizes the total stock-based compensation expense related to stock options included in the Company’s statements of operations:

    2025     2024  
   

Years Ended

December 31,

 
    2025     2024  
Research and development   $ 31,785     $ 251,313  
Selling, general and administrative     111,947       406,336  
Stock-based compensation expense   $ 143,732     $ 657,649  
Schedule of Stock Option Activity

A summary of the Company’s 2021 Plan stock option activity is as follows:

 

   

Number of

Options

Outstanding

   

Weighted-

Average

Exercise

Price

   

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 
Balance at December 31, 2024     5,227     $ 58.72       7.8  
Options granted     15,250       13.80       -  
Options exercised     -       -       -  
Options cancelled     -       -       -  
Balance at December 31, 2025     20,477     $ 25.27       8.9  
                         
Options exercisable at December 31, 2025     7,250     $ 33.51       8.7