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

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue    
Royalty revenue $ 2,976,411 $ 2,500,284
Total revenue 2,976,411 2,500,284
Operating costs and expenses:    
Research and development (3,065,484) (3,288,332)
General and administrative (2,745,509) (3,416,380)
Total operating costs and expenses (5,810,993) (6,704,712)
Loss from operations (2,834,582) (4,204,428)
Other income (expense):    
Other income (expense) 5,725 (5,708)
Interest income, net 147,997 249,861
Total other income, net 153,722 244,153
Net loss $ (2,680,860) $ (3,960,275)
Basic net loss per share $ (1.58) $ (2.57)
Diluted net loss per share $ (1.58) $ (2.57)
Weighted-average shares of common stock outstanding, basic 1,701,571 1,541,339
Weighted-average shares of common stock outstanding, diluted 1,701,571 1,541,339