Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plan (Tables)

v3.26.3
Equity Incentive Plan (Tables)
9 Months Ended
Sep. 30, 2026
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:

   

                         
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2026     2025     2026     2025  
Grant date fair value   $ 1.03     $ -     $ 1.85     $ 11.59  
Risk-free interest rate     5.11 %     0.00 %     3.92 %     4.65 %
Dividend yield     0.00 %     0.00 %     0.00 %     0.00 %
Expected life in years     6.1       -       6.0       5.9  
Expected volatility     133 %     0 %     135 %     110 %
Schedule of Stock Based Compensation Expense

  

    2026     2025     2026     2025  
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2026     2025     2026     2025  
Research and development   $ 3,944     $ 7,951     $ 22,247     $ 23,672  
Selling, general and administrative     38,235       29,889       104,990       90,591  
Total   $ 42,179     $ 37,840     $ 127,237     $ 114,263  
Schedule of Stock Option Activity

A summary of the Company’s stock option activity (inclusive of the Inducement Award) is as follows:

  

   

Number of

Options

Outstanding

   

Weighted-

Average

Exercise

Price

   

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 
Balance at December 31, 2025     20,477     $ 25.27       8.9  
Options granted     157,000       2.03       -  
Options exercised     -       -       -  
Options forfeited     (3,066 )     6.00       -  
Balance at September 30, 2026     174,411     $ 4.69       9.18  
                         
Options exercisable at September 30, 2026     22,290     $ 16.24       8.6