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10-K true 2024-12-31 --12-31 2024 false 001-15911 IMUNON, INC. DE 52-1256615 997 LENOX DRIVE SUITE 100 LAWRENCEVILLE NJ 08648 (609) 896-9100 Common Stock, Par Value $0.01 Per Share IMNN NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 10800000 14620732 None true CYBERSECURITY <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_908_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20240101__20241231_zFQsrNP64Zm8">We have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20240101__20241231_zor46tLIquik">processes for assessing, identifying and managing cybersecurity risks, which are built into our information technology (“IT”) function and are designed to help protect our information assets and operations from internal and external cyber threats, protect employee and clinical trial information from unauthorized access or attack, as well as secure our networks and systems. Such processes include physical, procedural and technical safeguards, response plans, and routine review of our policies and procedures to identify risks and refine our practices. We engage certain <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20240101__20241231_zcaOlp1kgktk">external parties, including a full-service managed IT service provider, to enhance our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20240101__20241231_zdr41oCqFdl6">cybersecurity oversight. We have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20240101__20241231_zor46tLIquik">processes for assessing, identifying and managing cybersecurity risks, which are built into our information technology (“IT”) function and are designed to help protect our information assets and operations from internal and external cyber threats, protect employee and clinical trial information from unauthorized access or attack, as well as secure our networks and systems. Such processes include physical, procedural and technical safeguards, response plans, and routine review of our policies and procedures to identify risks and refine our practices. true true true Our Audit Committee of the Board of Directors (the “Audit Committee”) is responsible for overseeing cybersecurity risk and periodically updates our Board of Directors on such matters. The Audit Committee receives periodic updates from management regarding cybersecurity matters and is notified between such updates regarding any significant new cybersecurity threats or incidents. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20240101__20241231_zDTe4N0EHe9b">We do <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20240101__20241231_zZqnWGI7tySf">not believe that there are currently any known risks from cybersecurity threats that are reasonably likely to materially affect us or our business strategy, results of operations or financial condition. We do <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20240101__20241231_zZqnWGI7tySf">not believe that there are currently any known risks from cybersecurity threats that are reasonably likely to materially affect us or our business strategy, results of operations or financial condition. false Management is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20240101__20241231_zYM4N2amO9C">responsible for the operational oversight of company-wide cybersecurity strategy, policy, and standards across relevant departments to assess and help prepare us to address cybersecurity risks true true true false false false false false false We have audited the accompanying consolidated balance sheets of Imunon Inc. as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive loss, changes in stockholders’ equity, and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Imunon Inc. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. WithumSmith+Brown, PC East Brunswick, New Jersey 100

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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <p id="xdx_84D_eus-gaap--BusinessDescriptionAndAccountingPoliciesTextBlock_zvySlgYoTayb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify">Description of Business Imunon, Inc. (“Imunon” or the “Company”) is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases. The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed Phase II clinical studies. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has entered a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions. Basis of Presentation The accompanying consolidated financial statements (“Financial Statements”) of Imunon have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and CLSN Laboratories, Inc. The Company dissolved Celsion GmbH in 2023. All significant intercompany balances and transactions have been eliminated in consolidation. Accounting Standards Update: Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07. Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of expenses during the reporting period. Actual results could differ significantly from those estimates. <p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zKfScKLf3Bjh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify">Revenue Recognition The Company did not generate any revenue in 2024 or 2023 and there were no accounts receivable as of December 31, 2024 and 2023. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and investments purchased with an original maturity of three months or less. A portion of these funds are not covered by FDIC insurance. Fair Value of Financial Instruments The carrying values of financial instruments approximate their respective fair values. Management believes that the carrying amounts of the Company’s financial instruments, including cash and cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments. Short-term investments are recorded at their estimated fair value. Short-Term Investments The Company classifies its investments in debt securities with readily determinable fair values as investments available-for-sale in accordance with Accounting Standards Codification (“ASC”) 320, Investments - Debt and Equity Securities. Available-for-sale securities consist of debt securities not classified as trading securities or as securities to be held to maturity. The Company has classified all of its investments as available-for-sale. Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive gain or loss in stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method. The Company’s short-term investments consist of corporate bonds. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is provided over the estimated useful lives of the related assets, ranging from three to seven years, using the straight-line method. Amortization is recognized over the lesser of the life of the asset or the lease term. Major renewals and improvements are capitalized at cost and ordinary repairs and maintenance are charged against operating expenses as incurred. Depreciation expense was approximately $240,000 and $248,000 for the years ended December 31, 2024 and 2023, respectively. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. There was no impairment of property or equipment during 2024 or 2023. <p id="xdx_840_ecustom--AdvancesAndDepositsOnClinicalProgramsAndOtherCurrentAssetsPolicyTextBlock_zgxMZgM0JY94" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Advances and Deposits on Clinical Programs and Other Current Assets Supplies are consumable items kept on hand to support the Company’s R&D and manufacturing operations which includes prepaid expense, raw materials, clinical supplies and consumable items for clinical trials with alternate uses that are capitalized. Supplies are recorded at cost and are charged to expense as they are used in operations. The Company regularly reviews the quality and utilization of supplies to determine if future use of these supplies is probable. Due to the generic use of these supplies, they can be used in multiple projects other than those currently being studied. Deposits Deposits include real property security deposits and other deposits which are contractually required and of a long-term nature. Comprehensive Income (Loss) ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the Company’s consolidated financial statements. The objective of ASC 220 is to report a measure of comprehensive income (loss) of all changes in equity of an enterprise that result from transactions and other economic events in a period other than transactions with owners. Comprehensive gains (losses) result from changes in unrealized gains and losses from investment in debt securities. Research and Development Research and development costs are expensed as incurred. Supplies are consumable and recorded at cost and are charged to expense as they are used in operations. Equipment and facilities acquired for research and development activities that have alternative future uses are capitalized and charged to expense over their estimated useful lives. Net Loss per Share of Common Stock Basic and diluted net loss per common share was computed by dividing net loss for the year by the weighted average number of shares of common stock outstanding, both basic and diluted, during each period. The impact of common stock equivalents has been excluded from the computation of diluted weighted average common shares outstanding in periods where there is a net loss, as their effect is anti-dilutive. For the years ended December 31, 2024 and 2023, the total number of shares of common stock issuable upon exercise of warrants and equity awards was <span id="xdx_90C_ecustom--NumberOfSharesOfCommonStockIssuableUponExerciseOfWarrantsAndEquityAwards_c20240101__20241231_zIdJ8NypOvke" title="Number of shares of common stock issuable upon exercise of warrants and equity awards">6,840,633 and <span id="xdx_903_ecustom--NumberOfSharesOfCommonStockIssuableUponExerciseOfWarrantsAndEquityAwards_c20230101__20231231_z8uqJsW68Whg" title="Number of shares of common stock issuable upon exercise of warrants and equity awards">1,255,642, respectively. For the years ended December 31, 2024 and 2023, diluted loss per common share is the same as basic loss per common share as all options and all other warrants that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common stockholders per common share as their effect would be anti-dilutive. Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In accordance with ASC 740, Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. The Company recognizes interest and/or penalties related to income tax matters in the income tax expense category. As more fully discussed in Note 10, on November 28, 2023, the Company received approval from the New Jersey Economic Development Authority to sell $<span id="xdx_907_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231128__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zyQUca0mGMrj" title="Net proceeds from sale of net operating losses">1.3 million of its New Jersey net operating losses (“NOLs”), recognizing a tax benefit for the year ended December 31, 2023 for the net proceeds (approximately $<span id="xdx_902_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231231__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zQqFn3poljfg" title="Net proceeds from sale of net operating losses">1.3 million) by reducing the net operating loss valuation allowance. As more fully discussed in Note 10, on November 28, 2023, the Company was notified by the New Jersey Economic Development Authority that its application was approved and the Company entered into an agreement to sell this NOL. On March 22, 2024, the Company received approximately $<span id="xdx_901_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20240322__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zVzov2i0QTOh" title="Net proceeds from sale of net operating losses">1.3 million upon completion of the sale of the 2023 NOLs. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MinimumMember_zuvjJAWM4cA3" title="Net proceeds from sale of net operating losses">15 million to $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MaximumMember_zscyKEF3T4t3" title="Net proceeds from sale of net operating losses">20 million, which will allow the Company to participate in this innovative funding program in future years for up to an additional $<span id="xdx_908_eus-gaap--DirectFinancingLeaseSellingLoss_pn5n6_c20210101__20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MaximumMember_znzYDjnuVgY7" title="Direct financing lease, selling loss">0.4 million in net operating losses under this maximum lifetime benefit (see Note 2). <p id="xdx_84F_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zAuM5jvcHRGh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Stock-Based Compensation The Company accounts for all share-based payment awards granted to employees and non-employees as stock-based compensation expense at grant date fair value. The Company’s share-based payments include stock options and grants of common stock, including common stock subject to vesting. The measurement date for employee awards is the date of grant, and stock-based compensation costs are recognized as expense over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Prior to the adoption of Accounting Standards Update (“ASU”) No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU No. 2018-07”) on January 1, 2020, the measurement date for non-employee awards was generally the date the services were completed, resulting in financial reporting period adjustments to stock-based compensation during the vesting terms for changes in the fair value of the awards. Since the adoption of ASU 2018-07, the measurement date for non-employee awards is the date of grant without changes in the fair value of the award. There was no material impact as a result of adopting this new standard. Stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation expense is classified in the accompanying consolidated statements of operations based on the function to which the related services are provided. Forfeitures are recorded as they occur. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. Since there is limited historical data of the Company’s share price on the public market, the Company estimates its expected stock volatility based on the historical volatility of a publicly traded set of representative companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. Warrant Accounting We account for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815 “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to our own ordinary shares and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of our control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding. For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on our statements of operations. As the warrants issued upon our financings in 2024 meet the criteria for equity classification under ASC 815, those warrants were classified as equity as of December 31, 2024. No warrants were issued in 2023. <p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zDyZDNP766sh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB and are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to its operations. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of the ASU on the income tax disclosures within the consolidated financial statements. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

<p id="xdx_84D_eus-gaap--BusinessDescriptionAndAccountingPoliciesTextBlock_zvySlgYoTayb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify">Description of Business Imunon, Inc. (“Imunon” or the “Company”) is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases. The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed Phase II clinical studies. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has entered a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions.

Basis of Presentation The accompanying consolidated financial statements (“Financial Statements”) of Imunon have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and CLSN Laboratories, Inc. The Company dissolved Celsion GmbH in 2023. All significant intercompany balances and transactions have been eliminated in consolidation.

Accounting Standards Update: Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07.

Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of expenses during the reporting period. Actual results could differ significantly from those estimates.

<p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zKfScKLf3Bjh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify">Revenue Recognition The Company did not generate any revenue in 2024 or 2023 and there were no accounts receivable as of December 31, 2024 and 2023.

Cash and Cash Equivalents Cash and cash equivalents include cash on hand and investments purchased with an original maturity of three months or less. A portion of these funds are not covered by FDIC insurance.

Fair Value of Financial Instruments The carrying values of financial instruments approximate their respective fair values. Management believes that the carrying amounts of the Company’s financial instruments, including cash and cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments. Short-term investments are recorded at their estimated fair value.

Short-Term Investments The Company classifies its investments in debt securities with readily determinable fair values as investments available-for-sale in accordance with Accounting Standards Codification (“ASC”) 320, Investments - Debt and Equity Securities. Available-for-sale securities consist of debt securities not classified as trading securities or as securities to be held to maturity. The Company has classified all of its investments as available-for-sale. Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive gain or loss in stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method. The Company’s short-term investments consist of corporate bonds.

Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is provided over the estimated useful lives of the related assets, ranging from three to seven years, using the straight-line method. Amortization is recognized over the lesser of the life of the asset or the lease term. Major renewals and improvements are capitalized at cost and ordinary repairs and maintenance are charged against operating expenses as incurred. Depreciation expense was approximately $240,000 and $248,000 for the years ended December 31, 2024 and 2023, respectively. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. There was no impairment of property or equipment during 2024 or 2023.

P7Y

240000

248000

<p id="xdx_840_ecustom--AdvancesAndDepositsOnClinicalProgramsAndOtherCurrentAssetsPolicyTextBlock_zgxMZgM0JY94" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Advances and Deposits on Clinical Programs and Other Current Assets Supplies are consumable items kept on hand to support the Company’s R&D and manufacturing operations which includes prepaid expense, raw materials, clinical supplies and consumable items for clinical trials with alternate uses that are capitalized. Supplies are recorded at cost and are charged to expense as they are used in operations. The Company regularly reviews the quality and utilization of supplies to determine if future use of these supplies is probable. Due to the generic use of these supplies, they can be used in multiple projects other than those currently being studied. Deposits Deposits include real property security deposits and other deposits which are contractually required and of a long-term nature.

Comprehensive Income (Loss) ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the Company’s consolidated financial statements. The objective of ASC 220 is to report a measure of comprehensive income (loss) of all changes in equity of an enterprise that result from transactions and other economic events in a period other than transactions with owners. Comprehensive gains (losses) result from changes in unrealized gains and losses from investment in debt securities.

Research and Development Research and development costs are expensed as incurred. Supplies are consumable and recorded at cost and are charged to expense as they are used in operations. Equipment and facilities acquired for research and development activities that have alternative future uses are capitalized and charged to expense over their estimated useful lives.

Net Loss per Share of Common Stock Basic and diluted net loss per common share was computed by dividing net loss for the year by the weighted average number of shares of common stock outstanding, both basic and diluted, during each period. The impact of common stock equivalents has been excluded from the computation of diluted weighted average common shares outstanding in periods where there is a net loss, as their effect is anti-dilutive. For the years ended December 31, 2024 and 2023, the total number of shares of common stock issuable upon exercise of warrants and equity awards was <span id="xdx_90C_ecustom--NumberOfSharesOfCommonStockIssuableUponExerciseOfWarrantsAndEquityAwards_c20240101__20241231_zIdJ8NypOvke" title="Number of shares of common stock issuable upon exercise of warrants and equity awards">6,840,633 and <span id="xdx_903_ecustom--NumberOfSharesOfCommonStockIssuableUponExerciseOfWarrantsAndEquityAwards_c20230101__20231231_z8uqJsW68Whg" title="Number of shares of common stock issuable upon exercise of warrants and equity awards">1,255,642, respectively. For the years ended December 31, 2024 and 2023, diluted loss per common share is the same as basic loss per common share as all options and all other warrants that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common stockholders per common share as their effect would be anti-dilutive.

6840633 1255642

Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In accordance with ASC 740, Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. The Company recognizes interest and/or penalties related to income tax matters in the income tax expense category. As more fully discussed in Note 10, on November 28, 2023, the Company received approval from the New Jersey Economic Development Authority to sell $<span id="xdx_907_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231128__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zyQUca0mGMrj" title="Net proceeds from sale of net operating losses">1.3 million of its New Jersey net operating losses (“NOLs”), recognizing a tax benefit for the year ended December 31, 2023 for the net proceeds (approximately $<span id="xdx_902_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231231__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zQqFn3poljfg" title="Net proceeds from sale of net operating losses">1.3 million) by reducing the net operating loss valuation allowance. As more fully discussed in Note 10, on November 28, 2023, the Company was notified by the New Jersey Economic Development Authority that its application was approved and the Company entered into an agreement to sell this NOL. On March 22, 2024, the Company received approximately $<span id="xdx_901_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20240322__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zVzov2i0QTOh" title="Net proceeds from sale of net operating losses">1.3 million upon completion of the sale of the 2023 NOLs. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MinimumMember_zuvjJAWM4cA3" title="Net proceeds from sale of net operating losses">15 million to $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MaximumMember_zscyKEF3T4t3" title="Net proceeds from sale of net operating losses">20 million, which will allow the Company to participate in this innovative funding program in future years for up to an additional $<span id="xdx_908_eus-gaap--DirectFinancingLeaseSellingLoss_pn5n6_c20210101__20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MaximumMember_znzYDjnuVgY7" title="Direct financing lease, selling loss">0.4 million in net operating losses under this maximum lifetime benefit (see Note 2).

1300000

15000000

20000000

400000

<p id="xdx_84F_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zAuM5jvcHRGh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Stock-Based Compensation The Company accounts for all share-based payment awards granted to employees and non-employees as stock-based compensation expense at grant date fair value. The Company’s share-based payments include stock options and grants of common stock, including common stock subject to vesting. The measurement date for employee awards is the date of grant, and stock-based compensation costs are recognized as expense over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Prior to the adoption of Accounting Standards Update (“ASU”) No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU No. 2018-07”) on January 1, 2020, the measurement date for non-employee awards was generally the date the services were completed, resulting in financial reporting period adjustments to stock-based compensation during the vesting terms for changes in the fair value of the awards. Since the adoption of ASU 2018-07, the measurement date for non-employee awards is the date of grant without changes in the fair value of the award. There was no material impact as a result of adopting this new standard. Stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation expense is classified in the accompanying consolidated statements of operations based on the function to which the related services are provided. Forfeitures are recorded as they occur. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. Since there is limited historical data of the Company’s share price on the public market, the Company estimates its expected stock volatility based on the historical volatility of a publicly traded set of representative companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future.

Warrant Accounting We account for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815 “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to our own ordinary shares and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of our control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding. For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on our statements of operations. As the warrants issued upon our financings in 2024 meet the criteria for equity classification under ASC 815, those warrants were classified as equity as of December 31, 2024. No warrants were issued in 2023.

<p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zDyZDNP766sh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB and are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to its operations. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of the ASU on the income tax disclosures within the consolidated financial statements. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

<p id="xdx_808_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zCnMSkstZca9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2. FINANCIAL CONDITION AND GOING CONCERN UNCERTAINTY Since inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted in connection with the Company’s drug candidates, and applications and submissions to the FDA. The Company has not generated significant revenue and has incurred significant net losses in each year since inception. For the year ended December 31, 2024, the Company had a net loss of $18.6 million and used $18.9 million to fund operations. As of December 31, 2024, the Company has incurred approximately $407 million of cumulative net losses. As of December 31, 2024, the Company had $5.9 million in cash and cash equivalents and short-term investments. The Company has substantial future capital requirements to continue its research and development activities and advance its drug candidates through various development stages. The Company believes these expenditures are essential for the commercialization of its drug candidates and technologies. The Company expects its operating losses to continue for the foreseeable future as it continues its product development efforts, and when it undertakes marketing and sales activities. The Company’s ability to achieve profitability is dependent upon its ability to obtain governmental approvals, manufacture, and market and sell its new drug candidates. There can be no assurance that the Company will be able to commercialize its technology successfully or that profitability will ever be achieved. The Company expects that its operating results will fluctuate significantly in the future and will depend on a number of factors, many of which are outside the Company’s control. The Company’s ability to raise additional capital may be adversely impacted by potential worsening global economic conditions and the recent disruptions to, and volatility in, financial markets in the U.S. and worldwide resulting from the Russian invasion of Ukraine and the unrest in the Middle East. The Company continues to monitor its operating activities in light of these events, and it is possible that these events could result in a variety of risks to the business. The specific impact, if any, is not readily determinable as of the date of these consolidated Financial Statements. The Company has based its estimates on assumptions that may prove to be wrong. The Company may need to obtain additional funds sooner or in greater amounts than it currently anticipates. Potential sources of financing include strategic relationships, public or private sales of the Company’s shares or debt, the sale of the Company’s New Jersey NOLs and other sources. If the Company raises funds by selling additional shares of common stock or other securities convertible into common stock, the ownership interest of existing stockholders may be diluted. The actual amount of funds the Company will need to operate is subject to many factors, some of which are beyond the Company’s control. These factors include the progress of research activities; the number and scope of research programs; the progress of preclinical and clinical development activities; the progress of the development efforts of parties with whom the Company has entered into research and development agreements; the costs associated with additional clinical trials of drug candidates; the ability to maintain current research and development licensing arrangements and to establish new research and development and licensing arrangements; the ability to achieve milestones under licensing arrangements; the costs involved in prosecuting and enforcing patent claims and other intellectual property rights; and the costs and timing of regulatory approvals. The consolidated financial statements have been prepared on the going concern basis. In making this assessment, management conducted a comprehensive review of the Company’s business plan including, but not limited to: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the Company’s financial position for the year ended December 31, 2024;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">significant events and transactions the Company has entered into since December 31, 2024;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the Company’s cash flow and cash usage forecasts for the period one year from the issuance date of this Annual Report on Form 10-K;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the Company’s capitalization structure including common stock outstanding and common stock issuable on exercise of warrants and equity awards, and other common stock issuable under equity plans; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">continued support of the Company’s stockholders.</td></tr> </table> As a result of the uncertainties involved in our business, we are unable to estimate the duration and completion costs of our research and development projects or when, if ever, and to what extent we will receive cash inflows from the commercialization and sale of a product. Our inability to complete our research and development projects in a timely manner or our failure to enter into collaborative agreements, when appropriate, could significantly increase our capital requirements and could adversely impact our liquidity. These uncertainties could force us to seek additional, external sources of financing from time to time in order to continue with our business strategy. Our inability to raise additional capital, or to do so on terms reasonably acceptable to us, would jeopardize the future success of our business. Our estimated future capital requirements are uncertain and could change materially as a result of many factors, including the progress of our research, development, clinical, manufacturing, and commercialization activities. Management has determined the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about our ability to continue as a going concern for the next twelve months from the issuance date of this Annual Report on Form 10-K. The report of our independent registered public accounting firm for the year ended December 31, 2024 includes an explanatory paragraph, which expresses substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of the uncertainty. A fundamental component of the ability to continue as a going concern is the Company’s ability to raise capital as required, as to which no assurances can be provided. To address the additional funding requirements of the Company, management has undertaken the following initiatives: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">it has assessed its current expenditures and will be reducing the current spending requirements where necessary;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">it will pursue additional capital funding in the public and private markets through equity sales and/or debt facilities;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">it will pursue possible partnerships and collaborations; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">it will pursue potential out licensing for its drug candidates.</td></tr> </table> Our ability to continue as a going concern may depend on our ability to raise additional capital, attain further operating efficiencies, reduce expenditures, and, ultimately, to generate revenue. There are no assurances that these future funding and operating efforts will be successful. If management is unsuccessful in these efforts, our current capital is not expected to be sufficient to fund our operations for the next twelve months.

-18600000

-18900000

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5900000

3. SEGMENT PERFORMANCE MEASURES AND EXPENSES The Company operates in one segment for the research and development of our product candidates. The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company based on consolidated financial information. Consequently, we view the entire organization as one reportable segment and the strategic purpose of all operating activities (including general & administrative expenses) is to support that one segment. As a pre-revenue research and development company, the CODM evaluates company-wide performance and allocates resources based on non-financial research and development milestones achieved, and to a lesser extent, financial measures of performance such as clinical development (research and development expenses) and general and administrative expenses incurred. Our CODM does not generally evaluate our performance using asset or historical cash flow information. <p id="xdx_89A_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zlYQ79s71ut1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands): SCHEDULE OF SIGNIFICANT EXPENSE CATEGORIES AND CONSOLIDATED NET LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z9zuGKD5DL8g" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4JR9kjY8526" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(In thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Change Increase (Decrease)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating Expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Clinical Research</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember_z4e9KjHX7xFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 36%">OVATION</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,386</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zFtaV2ODW7J" style="width: 12%; text-align: right">189</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zl3kXxShCr7d">15.8</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember_z0OCox7LvAb2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Vaccine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zjRKddLokjw7" style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zb0C42p2TNTc">100.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember_zPYfOJ8X3dJd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Other clinical and regulatory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,434</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,793</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z3T2geOY6303" style="border-bottom: Black 1pt solid; text-align: right">641</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zw5gp35Sd7Md">35.8</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember_zKd0FMmOdJp1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z452SWsVlj4g" style="text-align: right">2,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4a7RGkHKSl3">75.3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Non-Clinical R&D and CMC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember_zKDwOJJJJWU5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">OVATION</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,504</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4DP2VlA9jT2" style="text-align: right">315</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zrcBUfUtWYj9">20.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember_zzqUozQSQxn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">PlaCCine Vaccine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zgHqSp0xeY9d" style="text-align: right">(1,957</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zTtNvCMJJ7d5">(43.4</td><td style="text-align: left">)%</td></tr> <tr id="xdx_405_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember_zo4TRj9NNMz9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Manufacturing (CMC)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,026</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,283</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zRx7aVJlZEMg" style="border-bottom: Black 1pt solid; text-align: right">(257</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z7iaC6rBWGH3">(11.3</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_409_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember_z6i4WbV7mvbj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Subtotal</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,399</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,298</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zwSNi41ErFb1" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), Subtotal">(1,899</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zBowl8SqcpX4" title="Change Increase (Decrease), Subtotal, percentage">(22.9</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_ztqM0GgOWf9l" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,639</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--IncreaseDecreaseInResearchAndDevelopmentExpenses_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zYFMsCxY8myk" style="text-align: right" title="Change Increase (Decrease), Research and development expenses">351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInResearchAndDevelopmentExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_ziAmP68chYk9" title="Change Increase (Decrease), Research and development expenses, percentage">3.1</td><td style="text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zLS5FIlTy7Bi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">General and administrative expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,493</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,742</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--IncreaseDecreaseInGeneralAndAdministrativeExpenes_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zECrFD39e8Qh" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), General and administrative expenses">(2,249</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--IncreaseDecreaseInGeneralAndAdministrativeExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zyxAuV2CPhYa" title="Change Increase (Decrease), General and administrative expenses, percentage">(23.1</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_40B_eus-gaap--OperatingExpenses_pn3n3_zfgajMq7vzx4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,132</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21,030</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--IncreaseDecreaseInOperatingExpenses_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z3A3fIYodV3f" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), Operating expenses">(1,898</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--IncreaseDecreaseInOperatingExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zkeS1CfGQgA5" title="Change Increase (Decrease), Operating expenses, percentage">(9.0</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_400_eus-gaap--OperatingIncomeLoss_pn3n3_zEdiaCmAvLR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(19,132</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,030</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--IncreaseDecreaseInLossFromOperations_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zWgXhZ2zDbN3" style="border-bottom: Black 2.5pt double; text-align: right" title="Change Increase (Decrease), Loss from operations">(1,898</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInLossFromOperationsPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zdAJmKiYcYVc" title="Change Increase (Decrease), Loss from operations, percentage">(9.0</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> </table>

<p id="xdx_89A_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zlYQ79s71ut1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands): SCHEDULE OF SIGNIFICANT EXPENSE CATEGORIES AND CONSOLIDATED NET LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z9zuGKD5DL8g" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20230101__20231231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4JR9kjY8526" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(In thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Change Increase (Decrease)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating Expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Clinical Research</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember_z4e9KjHX7xFc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 36%">OVATION</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,386</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zFtaV2ODW7J" style="width: 12%; text-align: right">189</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zl3kXxShCr7d">15.8</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember_z0OCox7LvAb2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Vaccine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zjRKddLokjw7" style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--VaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zb0C42p2TNTc">100.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember_zPYfOJ8X3dJd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Other clinical and regulatory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,434</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,793</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z3T2geOY6303" style="border-bottom: Black 1pt solid; text-align: right">641</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__us-gaap--SubsegmentsAxis__custom--OtherClinicalAndRegulatoryMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zw5gp35Sd7Md">35.8</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember_zKd0FMmOdJp1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z452SWsVlj4g" style="text-align: right">2,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--ClinicalResearchMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4a7RGkHKSl3">75.3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Non-Clinical R&D and CMC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember_zKDwOJJJJWU5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">OVATION</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,504</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z4DP2VlA9jT2" style="text-align: right">315</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--OvationMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zrcBUfUtWYj9">20.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember_zzqUozQSQxn1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">PlaCCine Vaccine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zgHqSp0xeY9d" style="text-align: right">(1,957</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--PlaCCineVaccineMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zTtNvCMJJ7d5">(43.4</td><td style="text-align: left">)%</td></tr> <tr id="xdx_405_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember_zo4TRj9NNMz9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Manufacturing (CMC)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,026</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,283</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zRx7aVJlZEMg" style="border-bottom: Black 1pt solid; text-align: right">(257</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__us-gaap--SubsegmentsAxis__custom--ManufacturingCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z7iaC6rBWGH3">(11.3</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_409_eus-gaap--OperatingCostsAndExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember_z6i4WbV7mvbj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Subtotal</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,399</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,298</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--IncreaseDecreaseInOperatingCostAndExpenses_pn3n3_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zwSNi41ErFb1" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), Subtotal">(1,899</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInOperatingCostsAndExpensesPercentage_dp_uPure_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NonClinicalRAndDAndCMCMember__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zBowl8SqcpX4" title="Change Increase (Decrease), Subtotal, percentage">(22.9</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_ztqM0GgOWf9l" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,639</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--IncreaseDecreaseInResearchAndDevelopmentExpenses_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zYFMsCxY8myk" style="text-align: right" title="Change Increase (Decrease), Research and development expenses">351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInResearchAndDevelopmentExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_ziAmP68chYk9" title="Change Increase (Decrease), Research and development expenses, percentage">3.1</td><td style="text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zLS5FIlTy7Bi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">General and administrative expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,493</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,742</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--IncreaseDecreaseInGeneralAndAdministrativeExpenes_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zECrFD39e8Qh" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), General and administrative expenses">(2,249</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--IncreaseDecreaseInGeneralAndAdministrativeExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zyxAuV2CPhYa" title="Change Increase (Decrease), General and administrative expenses, percentage">(23.1</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_40B_eus-gaap--OperatingExpenses_pn3n3_zfgajMq7vzx4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,132</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21,030</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--IncreaseDecreaseInOperatingExpenses_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z3A3fIYodV3f" style="border-bottom: Black 1pt solid; text-align: right" title="Change Increase (Decrease), Operating expenses">(1,898</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_ecustom--IncreaseDecreaseInOperatingExpensesPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zkeS1CfGQgA5" title="Change Increase (Decrease), Operating expenses, percentage">(9.0</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_400_eus-gaap--OperatingIncomeLoss_pn3n3_zEdiaCmAvLR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(19,132</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,030</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--IncreaseDecreaseInLossFromOperations_pn3n3_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zWgXhZ2zDbN3" style="border-bottom: Black 2.5pt double; text-align: right" title="Change Increase (Decrease), Loss from operations">(1,898</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_ecustom--IncreaseDecreaseInLossFromOperationsPercentage_dp_uPure_c20240101__20241231__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zdAJmKiYcYVc" title="Change Increase (Decrease), Loss from operations, percentage">(9.0</td><td style="padding-bottom: 1pt; text-align: left">)%</td></tr> </table>

1386000

1197000

189000 0.158

1420000

1420000 1.000

2434000

1793000

641000 0.358

5240000

2990000

2250000 0.753

1819000

1504000

315000 0.209

2554000

4511000

-1957000 -0.434

2026000

2283000

-257000 -0.113

6399000

8298000

-1899000 -0.229

11639000

11288000

351000 0.031

7493000

9742000

-2249000 -0.231

19132000

21030000

-1898000 -0.090

-19132000

-21030000

-1898000 -0.090

<p id="xdx_80F_eus-gaap--InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_zSPdFfKASWO3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">4. INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE Investments in debt securities available for sale with a fair value of $0 and $9,857,087 as of December 31, 2024 and 2023, respectively, consisted of U.S. Treasury securities and corporate debt securities. These investments are valued at estimated fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity in accumulated other comprehensive loss. The Company reviews its debt securities classified as short-term investments on a regular basis for impairment. For debt securities in unrealized loss positions, the Company determines whether any portion of the decline in fair value below the amortized cost basis is due to credit-related factors if it neither intends to sell nor anticipates that it is more likely than not that it will be required to sell prior to recovery of the amortized cost basis. The Company considers factors such as the extent to which the market value has been less than the cost, any noted failure of the issuer to make scheduled payments, changes to the rating of the security and other relevant credit-related factors in determining whether or not a credit loss exists. During fiscal 2024 and 2023, the Company did not recognize an allowance for credit-related losses on any of our investments. <p id="xdx_891_eus-gaap--DebtSecuritiesAvailableForSaleTableTextBlock_zJhMhxVWqx8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows: SCHEDULE OF COST, FAIR VALUE AND MATURITIES OF SHORT TERM INVESTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Short-term investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">U.S. Treasury securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShortTermInvestments_iI_pp0p0_c20241231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zop2FxWWLzPi" style="width: 12%; text-align: right" title="Short-term investments - Cost">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zEml1ZLOhUY9" style="width: 12%; text-align: right" title="Short-term investments - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShortTermInvestments_iI_pp0p0_c20231231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zDqeN0KHQiF5" style="width: 12%; text-align: right" title="Short-term investments - Cost">9,796,291</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_ziEbR6ujJHN8" style="width: 12%; text-align: right" title="Short-term investments - Fair Value">9,857,087</td><td style="width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Short-term investment maturities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%">Within 3 months</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsAmortizedCost_iI_pp0p0_c20241231_zQlUqIkK3kTj" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, cost">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsFairValue_iI_pp0p0_c20241231_zbmS20GpWvpj" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, fair value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsAmortizedCost_iI_pp0p0_c20231231_zkz8QPcho9p5" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, cost">2,467,518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsFairValue_iI_pp0p0_c20231231_zvGVwKxRcQBc" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, fair value">2,490,775</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Between 3-12 months</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsAmortizedCost_iI_pp0p0_c20241231_ztS153aL0mij" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, cost">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsFairValue_iI_pp0p0_c20241231_zMqhyymOuDo5" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, fair value">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsAmortizedCost_iI_pp0p0_c20231231_zHMVpemb6uVd" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, cost">7,328,773</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsFairValue_iI_pp0p0_c20231231_zB8ZhcMRk2cj" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, fair value">7,366,312</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--AvailableForSaleDebtSecuritiesAmortizedCostBasisCurrent_iI_pp0p0_c20241231_zqaPVn5jycGb" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Cost">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_iI_pp0p0_c20241231_z3BpHKtUrjA3" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Fair value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--AvailableForSaleDebtSecuritiesAmortizedCostBasisCurrent_iI_pp0p0_c20231231_zFRnRRpU0xai" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Cost">9,796,291</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_iI_pp0p0_c20231231_zvAMrI8mXcwd" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Fair value">9,857,087</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_89F_eus-gaap--UnrealizedGainLossOnInvestmentsTableTextBlock_ztNRNPJJaSRi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024 and 2023. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary. SCHEDULE OF INVESTMENT SECURITIES GROSS UNREALIZED GAINS (LOSSES) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Holding Gains (Losses)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Holding Gains (Losses)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in debt securities with unrealized gains</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--AvailableForSaleSecuritiesUnrealizedLossFairValue_iI_c20241231_zpqP4HgJM6Ri" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--AvailableForSaleSecuritiesUnrealizedHoldingGainLossLessThanTwelveMonths_iI_c20241231_zZL6gqpCzoKi" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Unrealized Holding Gains">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--AvailableForSaleSecuritiesUnrealizedLossFairValue_iI_c20231231_zFASLmzCc1kh" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Fair Value">9,857,087</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AvailableForSaleSecuritiesUnrealizedHoldingGainLossLessThanTwelveMonths_iI_c20231231_ziM6wy1neKGl" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Unrealized Holding Gains (Losses)">60,796</td><td style="width: 1%; text-align: left"> </td></tr> </table> Investment income, net, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows: SCHEDULE OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231_zljdSH3y5Laj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zAr7TAvXzvm1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--InvestmentIncomeInterestAndDividend_maIILNzUXt_zHteq5yzEnRc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Interest and dividends accrued and paid</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">450,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">725,824</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DebtSecuritiesAvailableForSaleRealizedGainLoss_maIILNzUXt_zadHWzORz6Xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Realized losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">61,983</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">431,801</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InvestmentIncomeNet_iT_pp0p0_mtIILNzUXt_zADW9BYCXPA6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment income, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">512,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,157,625</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9857087

<p id="xdx_891_eus-gaap--DebtSecuritiesAvailableForSaleTableTextBlock_zJhMhxVWqx8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows: SCHEDULE OF COST, FAIR VALUE AND MATURITIES OF SHORT TERM INVESTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Short-term investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">U.S. Treasury securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShortTermInvestments_iI_pp0p0_c20241231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zop2FxWWLzPi" style="width: 12%; text-align: right" title="Short-term investments - Cost">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zEml1ZLOhUY9" style="width: 12%; text-align: right" title="Short-term investments - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShortTermInvestments_iI_pp0p0_c20231231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zDqeN0KHQiF5" style="width: 12%; text-align: right" title="Short-term investments - Cost">9,796,291</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_ziEbR6ujJHN8" style="width: 12%; text-align: right" title="Short-term investments - Fair Value">9,857,087</td><td style="width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Short-term investment maturities</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%">Within 3 months</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsAmortizedCost_iI_pp0p0_c20241231_zQlUqIkK3kTj" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, cost">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsFairValue_iI_pp0p0_c20241231_zbmS20GpWvpj" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, fair value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsAmortizedCost_iI_pp0p0_c20231231_zkz8QPcho9p5" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, cost">2,467,518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingWithinThreeMonthsFairValue_iI_pp0p0_c20231231_zvGVwKxRcQBc" style="width: 12%; text-align: right" title="Short-term investment maturities - Within 3 months, fair value">2,490,775</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Between 3-12 months</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsAmortizedCost_iI_pp0p0_c20241231_ztS153aL0mij" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, cost">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsFairValue_iI_pp0p0_c20241231_zMqhyymOuDo5" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, fair value">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsAmortizedCost_iI_pp0p0_c20231231_zHMVpemb6uVd" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, cost">7,328,773</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DebtSecuritiesAvailableforsaleMaturityAllocatedAndSingleMaturityDateRollingBetweenThreeAndTwelveMonthsFairValue_iI_pp0p0_c20231231_zB8ZhcMRk2cj" style="border-bottom: Black 1pt solid; text-align: right" title="Short-term investment maturities - Between 3-12 months, fair value">7,366,312</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--AvailableForSaleDebtSecuritiesAmortizedCostBasisCurrent_iI_pp0p0_c20241231_zqaPVn5jycGb" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Cost">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_iI_pp0p0_c20241231_z3BpHKtUrjA3" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Fair value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--AvailableForSaleDebtSecuritiesAmortizedCostBasisCurrent_iI_pp0p0_c20231231_zFRnRRpU0xai" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Cost">9,796,291</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate_iI_pp0p0_c20231231_zvAMrI8mXcwd" style="border-bottom: Black 2.5pt double; text-align: right" title="Short-term investment maturities - Fair value">9,857,087</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9796291

9857087

2467518 2490775 7328773 7366312 9796291

9857087

<p id="xdx_89F_eus-gaap--UnrealizedGainLossOnInvestmentsTableTextBlock_ztNRNPJJaSRi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024 and 2023. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary. SCHEDULE OF INVESTMENT SECURITIES GROSS UNREALIZED GAINS (LOSSES) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Holding Gains (Losses)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Holding Gains (Losses)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Investments in debt securities with unrealized gains</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--AvailableForSaleSecuritiesUnrealizedLossFairValue_iI_c20241231_zpqP4HgJM6Ri" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--AvailableForSaleSecuritiesUnrealizedHoldingGainLossLessThanTwelveMonths_iI_c20241231_zZL6gqpCzoKi" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Unrealized Holding Gains">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--AvailableForSaleSecuritiesUnrealizedLossFairValue_iI_c20231231_zFASLmzCc1kh" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Fair Value">9,857,087</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AvailableForSaleSecuritiesUnrealizedHoldingGainLossLessThanTwelveMonths_iI_c20231231_ziM6wy1neKGl" style="width: 12%; text-align: right" title="Investments in debt securities with unrealized gains - Unrealized Holding Gains (Losses)">60,796</td><td style="width: 1%; text-align: left"> </td></tr> </table>

9857087 60796

Investment income, net, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows: SCHEDULE OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231_zljdSH3y5Laj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230101__20231231_zAr7TAvXzvm1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--InvestmentIncomeInterestAndDividend_maIILNzUXt_zHteq5yzEnRc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Interest and dividends accrued and paid</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">450,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">725,824</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DebtSecuritiesAvailableForSaleRealizedGainLoss_maIILNzUXt_zadHWzORz6Xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Realized losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">61,983</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">431,801</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InvestmentIncomeNet_iT_pp0p0_mtIILNzUXt_zADW9BYCXPA6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment income, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">512,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,157,625</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

450221

725824

61983

431801

512204

1157625

5. FAIR VALUES OF FINANCIAL INSTRUMENTS FASB ASC Section 820, Fair Value Measurements and Disclosures, establishes a three-level hierarchy for fair value measurements which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date; Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions that market participants would use in pricing an asset or liability. Cash and cash equivalents and accounts payable are reflected in the consolidated balance sheets at their approximate estimated fair values primarily due to their short-term nature. The fair values of securities available for sale are determined by relying on the securities’ relationship to other benchmark quoted securities and classified its investments as Level 2 items in both 2024 and 2023. There were no transfers of assets or liabilities between Level 1 and Level 2 and no transfers in or out of Level 3 during the years ended December 31, 2024 and 2023. <p id="xdx_894_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zKZ4VOdG6wd6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Assets and liabilities measured at fair value are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Recurring items as of December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">U.S. treasury obligations, available for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zceD1u3nzxuf" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zXXAxtFvvFm5" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zuTQGnUuLv9l" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zy4foxjilXN" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Recurring items as of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">U.S. treasury obligations, available for sale</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zywdXOLBVdLj" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">9,857,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_z9PG169Tbm41" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">9,857,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zZmBwQPrcrK3" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value"> -</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zobKQnGwO3Ci" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value"> -</td><td style="text-align: left"> </td></tr> </table>

<p id="xdx_894_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zKZ4VOdG6wd6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Assets and liabilities measured at fair value are summarized below: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Recurring items as of December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">U.S. treasury obligations, available for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zceD1u3nzxuf" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zXXAxtFvvFm5" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zuTQGnUuLv9l" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zy4foxjilXN" style="width: 12%; text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Recurring items as of December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">U.S. treasury obligations, available for sale</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zywdXOLBVdLj" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">9,857,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_z9PG169Tbm41" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value">9,857,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zZmBwQPrcrK3" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value"> -</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pp0p0_c20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zobKQnGwO3Ci" style="text-align: right" title="U.S. treasury obligations, available for sale - Fair Value"> -</td><td style="text-align: left"> </td></tr> </table>

9857087

<p id="xdx_80B_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zx45VJL7crtc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">6. PROPERTY AND EQUIPMENT Property and equipment at December 31, 2024 and 2023 consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_ztMynUkEH0mc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231_zcW0s8XAC9u1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zc7JeGc0Hj4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Machinery and equipment (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_z4kNSSdpEdah" title="Estimated useful life">5-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zfrXNENf7Ye" title="Estimated useful life">7 year life)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">951,192</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,055,192</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z3CoxXI5hCNh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zvc0pSnWHmll" title="Estimated useful life">3-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zxpPcHQ1Kavj" title="Estimated useful life">5 year life)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191,932</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zyFZFZLvQfw9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zlSnyGFwysfj" title="Estimated useful life">5-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zgD8FhAwgKs3" title="Estimated useful life">7 year life)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">619,024</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">607,054</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzwDA_zwGd7tMJa6Qj" style="vertical-align: bottom; background-color: White"> <td>Property and equipment gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,737,567</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,854,178</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzwDA_z7VL7Xxs8i8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,196,295</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,102,272</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzwDA_zvMBbyyWPvdb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">541,272</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">751,906</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Property and equipment at December 31, 2024 and 2023 consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_ztMynUkEH0mc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231_zcW0s8XAC9u1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zc7JeGc0Hj4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Machinery and equipment (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_z4kNSSdpEdah" title="Estimated useful life">5-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zfrXNENf7Ye" title="Estimated useful life">7 year life)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">951,192</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,055,192</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z3CoxXI5hCNh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zvc0pSnWHmll" title="Estimated useful life">3-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zxpPcHQ1Kavj" title="Estimated useful life">5 year life)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191,932</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zyFZFZLvQfw9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zlSnyGFwysfj" title="Estimated useful life">5-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFBST1BFUlRZIEFORCBFUVVJUE1FTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zgD8FhAwgKs3" title="Estimated useful life">7 year life)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">619,024</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">607,054</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzwDA_zwGd7tMJa6Qj" style="vertical-align: bottom; background-color: White"> <td>Property and equipment gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,737,567</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,854,178</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzwDA_z7VL7Xxs8i8i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,196,295</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,102,272</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzwDA_zvMBbyyWPvdb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">541,272</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">751,906</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P5Y

P7Y

951192

2055192

P3Y

P5Y

167351

191932

P5Y

P7Y

619024

607054

1737567

2854178

1196295

2102272

541272

751906

<p id="xdx_803_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zx4KChnwTsM6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">7. OTHER ACCRUED LIABILITIES <p id="xdx_898_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zE0zruNMp2J7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Other accrued liabilities at December 31, 2024 and 2023 include the following: SCHEDULE OF OTHER ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zhcb6QF9v0Zd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zLaOpZh06MUk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--ContractualObligation_iI_maCz80K_zoiVYfAmyVTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amounts due to contract research organizations and other contractual agreements</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,048,036</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,442,659</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maCz80K_z4q7nyKo0cN9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and related benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,945,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,693,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedProfessionalFeesCurrent_iI_maCz80K_zqQm09ZloMo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maCz80K_zurJLkpqUzK2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtCz80K_zjIFJsOXJr6h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,033,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,390,521</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_898_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zE0zruNMp2J7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Other accrued liabilities at December 31, 2024 and 2023 include the following: SCHEDULE OF OTHER ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zhcb6QF9v0Zd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zLaOpZh06MUk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--ContractualObligation_iI_maCz80K_zoiVYfAmyVTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amounts due to contract research organizations and other contractual agreements</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,048,036</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,442,659</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maCz80K_z4q7nyKo0cN9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and related benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,945,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,693,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedProfessionalFeesCurrent_iI_maCz80K_zqQm09ZloMo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maCz80K_zurJLkpqUzK2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtCz80K_zjIFJsOXJr6h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,033,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,390,521</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1048036

1442659

1945111

1693383

20600

234479

20000

3033747

3390521

8. NOTES PAYABLE The SVB Loan Facility On June 18, 2021, the Company entered into a $<span id="xdx_908_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn6n6_c20210618__us-gaap--LineOfCreditFacilityAxis__custom--SiliconValleyBankMember_z1dwh8NMbA7k" title="Line of credit facility, maximum borrowing capacity">10 million loan facility (the “SVB Loan Facility”) with Silicon Valley Bank (“SVB”). Imunon immediately drew down $6 million from the SVB Loan Facility and used the funds to retire all outstanding indebtedness with Horizon Technology Finance Corporation pursuant to a loan agreement entered into on June 27, 2018, under which the Company had drawn down $10 million and repaid $5 million in August 2020. Concurrently with this transaction, the Company used $6.0 million of other available funds to establish a restricted cash account which served as security for the SVB Loan Facility. The SVB Loan Facility was in the form of money market secured indebtedness bearing interest at a calculated WSJ Prime-based variable rate. A final payment equal to 3% of the total $10 million commitment amount was due upon maturity or prepayment of the SVB Loan Facility. There was no facility commitment fee, and no stock or warrants were issued to SVB. Payments under the loan agreement were interest only for the first 24 months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date. In connection with the SVB Loan Facility, the Company incurred financing fees and expenses totaling $243,370 which was recorded and classified as debt discount and was amortized as interest expense using the effective interest method over the life of the loan. Also, in connection with the SVB Loan Facility, the Company was required to pay an end-of-term fee equal to 3.0% of the original loan amount at time of maturity. Therefore, these amounts totaling $300,000 were amortized as interest expense using the effective interest method over the life of the loan. During the year ended December 31, 2023, the Company incurred interest expense of $197,080 and amortized $<span id="xdx_901_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pp0p0_c20230101__20231231__us-gaap--LineOfCreditFacilityAxis__custom--SiliconValleyBankMember_zpMGmQFfQE43" title="Amortization of debt issuance costs">329,158, as interest expense for debt discounts and end-of-term fee in connection with the SVB Loan Facility. On April 21, 2023, the Company repaid the outstanding principal balance, an early termination fee and the end-of-term charges in full satisfaction of the SVB Loan Facility. The following is a schedule of the amounts paid to SVB on April 21, 2023: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20230421_zU6pXR4OSoea" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr id="xdx_403_eus-gaap--LineOfCreditFacilityFairValueOfAmountOutstanding_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_zLiwc0vJ4Goh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Principal balance at April 21, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--EarlyTerminationFee_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_z5yGTfguhCj2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Early termination fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EndOfTermCharges_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_zEwkqVLLB0N7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">End of term charges</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LineOfCredit_iTI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_mtLOCzybh_zeo9YYC4MpS3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total payoff amount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,420,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> During the year ended December 31, 2023, the Company recorded a loss of $329,158 on the early termination of the SVB Loan Facility which represented the early termination fee and the end of the term fees, net of previously amortized interest expense totaling $334,212 on the date of its payoff.

10000000

6000000

10000000

5000000

6000000.0

0.03

10000000

Payments under the loan agreement were interest only for the first 24 months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date.

243370

0.030

300000

197080

329158

On April 21, 2023, the Company repaid the outstanding principal balance, an early termination fee and the end-of-term charges in full satisfaction of the SVB Loan Facility. The following is a schedule of the amounts paid to SVB on April 21, 2023: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_49C_20230421_zU6pXR4OSoea" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr id="xdx_403_eus-gaap--LineOfCreditFacilityFairValueOfAmountOutstanding_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_zLiwc0vJ4Goh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Principal balance at April 21, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--EarlyTerminationFee_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_z5yGTfguhCj2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Early termination fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EndOfTermCharges_iI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_maLOCzybh_zEwkqVLLB0N7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">End of term charges</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">300,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LineOfCredit_iTI_hdei--LegalEntityAxis__custom--HorizonTechnologyFinanceCorporationMember_mtLOCzybh_zeo9YYC4MpS3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total payoff amount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,420,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6000000

120000 300000

6420000

329158

334212

9. INCOME TAXES <p id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zEtZntAdjWO7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The income tax benefit for the years ended December 31, 2024 and 2023 consists of the following: SCHEDULE OF INCOME TAX PROVISION (BENEFIT) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zJ13oxA4MKr5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zGCtj1PfqiO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentFederalTaxExpenseBenefit_maITEBzpPN_zZSsqGTL5El5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maITEBzpPN_zROJEDZ4oFvg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_maITEBzpPN_zsNPOZ7Uj9G9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maITEBzpPN_zaVkmcGmtLPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maITEBzpPN_zSQn9EcAazQ5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; padding-bottom: 1pt">Deferred</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(1,280,385</td><td style="padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzpPN_zGBNikyFsVOb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,280,385</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zOcjI0HUYhUc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A reconciliation of the Company’s statutory tax rate to the effective rate for the years ended December 31, 2024 and 2023 is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_z4MfqOJasFKd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zLOUNGZp5s54" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maEIT001_zSnQ2rFZBM8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maEIT001_zuGwNqWaxq7i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_maEIT001_ze1NMFbfZjhc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.74</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.1</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--EffectiveIncomeTaxRateReconciliationTimeUp_pid_dp_uPure_maEIT001_zQ8X9rRHvpHf" style="vertical-align: bottom; background-color: White"> <td>True-Up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105.0</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maEIT001_zCD6t8UiOWY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.11</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.9</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maEIT001_z6nLsLcjWhBf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Rate Change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.57</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--EffectiveIncomeTaxRateReconciliationDeferredStatutoryRate_pid_dp_uPure_maEIT001_zhq7Gs2R3kN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred vs statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.75</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationSaleAndExpiration_pid_dp_uPure_maEIT001_z6em4UqgIS94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expiration of NOLs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17.51</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maEIT001_zDh2FHlNRLOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance and deferred rate change, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9.01</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89.0</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtEIT001_zMgG0RgSABza" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">6.1</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_894_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_z1rYeM2k69Qk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The components of the Company’s deferred tax asset as of December 31, 2024 and 2023 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zS9srSO4cn8a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zV03sdyHJfn6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzVBe_zy3iHYw1xYLd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">66,141,490</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">67,310,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsLegalAct_iI_pp0p0_maDTAGzVBe_z3ljGiepV6i1" style="vertical-align: bottom; background-color: White"> <td>Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,482,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,929,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzVBe_zZxzEcf50Qek" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other deferred tax assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,010,744</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,016,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzVBe_maDTANzv9R_zqu8M1QiHnh6" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,634,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,255,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzv9R_z8M94y7oICYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(74,634,333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(72,974,615</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzv9R_zthyYaKwBNg6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred tax asset</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,280,385</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The evaluation of the realizability of such deferred tax assets in future periods is made based upon a variety of factors that affect the Company’s ability to generate future taxable income, such as intent and ability to sell assets and historical and projected operating performance. As of December 31, 2024, based on the Company’s history of earnings and its assessment of future earnings, management believes that it is more likely than not future taxable income will not be sufficient to realize the deferred tax assets. Therefore, full valuation allowance has been applied to deferred tax assets. At December 31, 2023, after its evaluation of its New Jersey NOLs as discussed more fully below, the Company reduced the valuation reserve and recognized $1.3 million as a deferred income tax asset. Such tax assets are available to be recognized and benefit future periods. As of December 31, 2024, the Company had federal net operating loss carry forwards of approximately $303 million. If unused, will <span id="xdx_90C_ecustom--OperatingLossCarryforwardsExpirationDescription_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zYskvG7Nntp2" title="Operating losses expiration description">expire starting in 2025 through 2037. The federal NOLs generated for the years ended after 2017 of approximately $<span id="xdx_900_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20181231__us-gaap--IncomeTaxAuthorityAxis__custom--FederalIncomeTaxMember__srt--StatementScenarioAxis__custom--NoExpirationMember_zDoxjcUP3DM5">101 million can be carried forward indefinitely. As of December 31, 2024, the Company had state net operating loss carryforwards of approximately $40 million, net of net operating losses utilized in prior years, and, if unused, will <span id="xdx_90B_ecustom--OperatingLossCarryforwardsExpirationDescription_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_ztpLCKPm7UPh" title="Operating loss carryforwards expiration description">expire starting in 2029 through 2043. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. As of December 31, 2024, and 2023, there were no unrecognized tax benefits. The Company recognizes accrued interest and penalties as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2024 and 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position in the next year. Sections 382 and 383 of the Internal Revenue Code provide for a limitation on the annual use of NOL and tax credit carryforwards following certain ownership changes that could limit the Company’s ability to utilize these carryforwards. The Company has completed an analysis to determine if such ownership changes have occurred and concluded it was more likely than not that there were changes in ownership. Due to the existence of full valuation allowance, limitations under Section 382 and 383 will not impact the Company’s effective tax rate. Further analyses will be performed prior to recognizing the benefits of any losses or credits in the financial statements. Effective for tax years beginning after December 31, 2021, taxpayers are required to capitalize any expenses incurred that are considered incidental to research and experimentation (“R&E”) activities under IRC Section 174. While taxpayers historically had the option of deducting these expenses under IRC Section 174, the December 2017 Tax Cuts and Jobs Act mandates capitalization and amortization of R&E expenses for tax years beginning after December 31, 2021. Expenses incurred in connection with R&E activities in the US must be amortized over a 5-year period if incurred, and R&E expenses incurred outside the US must be amortized over a 15-year period. R&E activities are broader in scope than qualified research activities considered under IRC Section 41 (relating to the research tax credit). For the year ended December 31, 2024, the Company performed an analysis based on available guidance and determined that it will continue to be in a loss position even after the required capitalization and amortization of its R&E expenses. The Company will continue to monitor this issue for future developments, but it does not expect R&E capitalization and amortization to require it to pay cash taxes now or in the near future. The Company’s income tax returns for 2020 to 2023 are still open and subject to audit. In addition, net operating losses arising from prior years are also subject to examination at the time they are utilized in future years. Sale of New Jersey Net Operating Losses Since 2018, the Company has annually submitted applications to sell a portion of the Company’s New Jersey NOLs as part of the Technology Business Tax Certificate Program sponsored by The New Jersey Economic Development Authority. Under the program, emerging biotechnology companies with unused NOLs and unused research and development credits are allowed to sell these benefits to other New Jersey-based companies. As part of the Technology Business Tax Certificate Program, the Company sold $<span id="xdx_900_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20231231__srt--StatementGeographicalAxis__stpr--NJ__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_z65s9wpCqj3b">1.3 million of its New Jersey NOLs in 2023. The sale of these net operating losses resulted in net proceeds to the Company of approximately $1.3 million in 2024. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $<span id="xdx_90F_ecustom--NetProceedsFromSaleOfNetOperatingLosses_pn6n6_c20210101__20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MinimumMember__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zr7Iqfone3x8" title="Proceeds from sale">15 million to $<span id="xdx_90B_ecustom--NetProceedsFromSaleOfNetOperatingLosses_pn6n6_c20210101__20211231__srt--StatementGeographicalAxis__stpr--NJ__srt--RangeAxis__srt--MaximumMember__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zWSsYfr7oaBh" title="Proceeds from sale">20 million, which will allow the Company to participate in this funding program in future years for up to an additional $0.3 million in net operating losses under this maximum lifetime benefit.

<p id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zEtZntAdjWO7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The income tax benefit for the years ended December 31, 2024 and 2023 consists of the following: SCHEDULE OF INCOME TAX PROVISION (BENEFIT) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zJ13oxA4MKr5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zGCtj1PfqiO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentFederalTaxExpenseBenefit_maITEBzpPN_zZSsqGTL5El5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maITEBzpPN_zROJEDZ4oFvg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_maITEBzpPN_zsNPOZ7Uj9G9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maITEBzpPN_zaVkmcGmtLPi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maITEBzpPN_zSQn9EcAazQ5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; padding-bottom: 1pt">Deferred</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(1,280,385</td><td style="padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzpPN_zGBNikyFsVOb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,280,385</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

-1280385

<p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zOcjI0HUYhUc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A reconciliation of the Company’s statutory tax rate to the effective rate for the years ended December 31, 2024 and 2023 is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_z4MfqOJasFKd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zLOUNGZp5s54" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maEIT001_zSnQ2rFZBM8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maEIT001_zuGwNqWaxq7i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_maEIT001_ze1NMFbfZjhc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.74</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.1</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--EffectiveIncomeTaxRateReconciliationTimeUp_pid_dp_uPure_maEIT001_zQ8X9rRHvpHf" style="vertical-align: bottom; background-color: White"> <td>True-Up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105.0</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maEIT001_zCD6t8UiOWY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.11</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.9</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maEIT001_z6nLsLcjWhBf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Rate Change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.57</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--EffectiveIncomeTaxRateReconciliationDeferredStatutoryRate_pid_dp_uPure_maEIT001_zhq7Gs2R3kN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred vs statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.75</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationSaleAndExpiration_pid_dp_uPure_maEIT001_z6em4UqgIS94" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expiration of NOLs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17.51</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maEIT001_zDh2FHlNRLOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance and deferred rate change, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9.01</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89.0</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtEIT001_zMgG0RgSABza" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">6.1</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table>

0.2100

0.210

0.0840

0.071

-0.0274 -0.031 -0.0007 -1.050

0.0011

-0.029

0.0057

-0.0075 -0.1751

-0.0901

0.890

0.061

<p id="xdx_894_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_z1rYeM2k69Qk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The components of the Company’s deferred tax asset as of December 31, 2024 and 2023 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zS9srSO4cn8a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zV03sdyHJfn6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzVBe_zy3iHYw1xYLd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">66,141,490</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">67,310,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--DeferredTaxAssetsLegalAct_iI_pp0p0_maDTAGzVBe_z3ljGiepV6i1" style="vertical-align: bottom; background-color: White"> <td>Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,482,099</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,929,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzVBe_zZxzEcf50Qek" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other deferred tax assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,010,744</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,016,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzVBe_maDTANzv9R_zqu8M1QiHnh6" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,634,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,255,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzv9R_z8M94y7oICYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(74,634,333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(72,974,615</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzv9R_zthyYaKwBNg6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred tax asset</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,280,385</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

66141490

67310000

6482099 4929000

2010744

2016000

74634333

74255000

74634333

72974615

1280385

1300000

303000000

expire starting in 2025 through 2037

101000000

40000000

expire starting in 2029 through 2043

Expenses incurred in connection with R&E activities in the US must be amortized over a 5-year period if incurred, and R&E expenses incurred outside the US must be amortized over a 15-year period. R&E activities are broader in scope than qualified research activities considered under IRC Section 41 (relating to the research tax credit). For the year ended December 31, 2024, the Company performed an analysis based on available guidance and determined that it will continue to be in a loss position even after the required capitalization and amortization of its R&E expenses. The Company will continue to monitor this issue for future developments, but it does not expect R&E capitalization and amortization to require it to pay cash taxes now or in the near future. The Company’s income tax returns for 2020 to 2023 are still open and subject to audit. In addition, net operating losses arising from prior years are also subject to examination at the time they are utilized in future years.

1300000

1300000 15000000 20000000

300000

10. STOCKHOLDERS’ EQUITY On May 15, 2024, the Company filed with the SEC a shelf registration statement on Form S-3 (the “2024 Registration Statement”) for the offer and sale of up to $75 million of its securities. The 2024 Registration Statement was declared effective on May 22, 2024. The 2024 Registration Statement is intended to provide the Company with flexibility to raise capital in the future for general corporate purposes. However, the Company’s ability to offer and sell its securities in a primary offering on the 2024 Registration Statement is limited by General Instruction I.B.6 of Form S-3 (the “Baby Shelf Limitation”), which limits the amount that the Company can offer to up to one-third of its public float during any trailing 12-month period. The Company would no longer be subject to the Baby Shelf Limitation if its public float exceeds $75 million. At the Market Offering Agreement On May 15, 2024, the Company amended the At the Market Offering Agreement, dated as of May 25, 2022 (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) as sales agent. Pursuant to the terms of the amended ATM Agreement, the Company may offer and sell, from time to time, through Wainwright, shares of the Company’s common stock having an aggregate offering price of up to $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240515__20240515__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember_zT8Y2tPrzHA" title="Stock issued during period, value, new issues">5,500,000. The Company intends to use the net proceeds from any offering under the amended ATM Agreement for general corporate purposes, including research and development activities, capital expenditures and working capital. On July 30, 2024, the Company notified Wainwright that it was suspending its use of and terminating the “at the market offering” sales agreement prospectus (the “ATM Prospectus”), related to the potential issuance from time to time of the Company’s common stock pursuant to the ATM Agreement, by and between the Company and Wainwright. Notwithstanding the termination of the ATM Prospectus, the ATM Agreement remains in full force and effect. On September 3, 2024, the Company filed a new prospectus supplement to the 2024 Registration Statement with the SEC for an aggregate offering price of up to $5,500,000 related to the potential issuance from time to time of the Company’s common stock pursuant to the ATM Agreement with Wainwright as sales agent. The Company sold <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember_z1hPCovJa3Gi" title="Number of shares sold">88,796 shares of common stock under the ATM Agreement for net proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember_zl9vGpzZwyYi" title="Proceeds from sale of stock">99,506 during 2024. During 2023, the Company sold <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember_zXvhdIIv0hU" title="Number of shares sold">1,878,488 shares of common stock under the ATM Agreement for net proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember_zGyO5DiQSK6a" title="Proceeds from sale of stock">2,750,658. The Company sold <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250101__20250221__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zDtCnA8pkbpg" title="Number of shares sold">120,047 shares of common stock under the ATM Agreement for net proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20250101__20250221__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzuAdJhf9ef8" title="Proceeds from sale of stock">105,693 from January 1, 2025 through February 21, 2025. July 2024 Offering On July 30, 2024, the Company entered into the July 2024 Purchase Agreement with the Purchasers, pursuant to which the Company issued, in a registered direct offering, an aggregate of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240730__20240730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--JulyTwoThousandTwentyFourOfferingMember_zZlgbMEa4p31" title="Stock issued, shares">5,000,000 shares of the Company’s common stock at an offering price of $<span id="xdx_90A_eus-gaap--SharePrice_iI_pid_c20240730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--JulyTwoThousandTwentyFourOfferingMember_z3qBAl2xsjBe" title="Share price">2.00 per share for gross proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240730__20240730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--JulyTwoThousandTwentyFourOfferingMember_z4vAUXEzhxoe" title="Proceeds from issuance of common stock">10.0 million before the deduction of placement agent fees and offering expenses. In a concurrent private placement and also pursuant to the July 2024 Purchase Agreement, the Company issued to the Purchasers the Warrants to purchase an aggregate of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240730__20240730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--JulyTwoThousandTwentyFourOfferingMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAPOFpmLpmj5" title="Stock issued, shares">5,000,000 shares of its common stock at an exercise price of $<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20240730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--JulyTwoThousandTwentyFourOfferingMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zNXWFqZv9jOb" title="Share price">2.00 per share. The Warrants became exercisable immediately after issuance for a term of five and one-half years following the date of issuance. The closing of the July 2024 Offering occurred on August 1, 2024.

75000000

5500000

88796

99506

1878488

2750658

120047

105693

5000000

2.00

10000000.0

5000000

2.00

<p id="xdx_80F_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zKTW4wR9HPki" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">11. STOCK-BASED COMPENSATION The Company has long-term compensation plans that permit the granting of equity-based awards in the form of stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, and performance awards. At the 2018 Annual Stockholders Meeting of the Company held on May 15, 2018, stockholders approved the Imunon, Inc. 2018 Stock Incentive Plan (the “2018 Plan”). The 2018 Plan, as adopted, permits the granting of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20180515__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember_zisEblMdRbu7" title="Share-based payment award, shares authorized">180,000 shares of Imunon common stock as equity awards in the form of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, performance awards, or in any combination of the foregoing. At the 2019 Annual Stockholders Meeting of the Company held on May 14, 2019, stockholders approved an amendment to the 2018 Plan whereby the Company increased the number of common stock shares available by <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20190514__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MinimumMember_zQe6P0ftFbri" title="Share based payment award, shares granted">80,000 to a total of <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20190514__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_zcrS350VE0jc" title="Share based payment award, shares granted">260,000 under the 2018 Plan, as amended. At the 2020 Annual Stockholders Meeting of the Company held on June 15, 2020, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20200615__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MinimumMember_z5ervcvjoxj2" title="Share based payment award, shares granted">166,667 to a total of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20200615__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_zl7Rrti3C4qj" title="Share based payment award, shares granted">426,667 under the 2018 Plan, as amended. At the 2021 Annual Stockholders Meeting of the Company held on June 10, 2021, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20210610__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MinimumMember_zEKnldVWLYD7" title="Share based payment award, shares granted">513,333 to a total of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20210610__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_zBG8HOp8pJQa" title="Share based payment award, shares granted">940,000 under the 2018 Plan, as amended. At the 2023 Annual Stockholders Meeting of the Company held on June 14, 2023, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20230614__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MinimumMember_zFh6RVbIO76h" title="Share based payment award, shares granted">1,030,000 to a total of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20230614__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_zB7Y9Ae3EAka" title="Share based payment award, shares granted">1,970,000 under the 2018 Plan, as amended. The Company has issued stock awards to employees and directors in the form of stock options and restricted stock. <span id="xdx_90B_ecustom--StockOptionsStrikePriceDescription_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember_z5kmYKZC7jT1" title="Stock options, strike price description">Options are generally granted with strike prices equal to the fair market value of a share of Imunon common stock on the date of grant. Incentive stock options may be granted to purchase shares of common stock at a price not less than 100% of the fair market value of the underlying shares on the date of grant, provided that the exercise price of any incentive stock option granted to an eligible employee owning more than 10% of the outstanding stock of Imunon must be at least 110% of such fair market value on the date of grant. Only officers and key employees may receive incentive stock options. Option and restricted stock awards vest upon terms determined by the Compensation Committee of the Board of Directors and are subject to accelerated vesting in the event of a change of control or certain terminations of employment. The Company issues new shares to satisfy its obligations from the exercise of options or the grant of restricted stock awards. As of December 31, 2024, the Compensation Committee of the Board of Directors approved the grant of inducement stock options (the “Inducement Option Grants”) to purchase a total of <span id="xdx_909_eus-gaap--SharesIssued_iI_c20241231__us-gaap--PlanNameAxis__custom--InducementOptionGrantsMember__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zhH9UK2TxXmg" title="Shares, Issued">110,000 shares of Imunon common stock. Each award has a grant date of the date of grant. Each Inducement Option Grant has a weighted exercise price of $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20241231__us-gaap--PlanNameAxis__custom--InducementOptionGrantsMember__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zeJsIzeu9XPk" title="Exercise price per share">1.02 per share. Each Inducement Option Grant vests over four years, with one-fourth vesting on the one-year anniversary of the employee’s first day of employment with the Company and one-fourth vesting on the second, third and fourth anniversaries thereafter, subject to the new employee’s continued service relationship with the Company on each such date. Each Inducement Option Grant has a ten-year term and is subject to the terms and conditions of the applicable stock option agreement. As of December 31, 2024, there were a total of <span id="xdx_909_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember_zNbo5GHMqnOk" title="Common stock, reserved for future issuance">1,975,073 shares of Imunon common stock reserved for issuance under the 2018 Plan, which were comprised of <span id="xdx_900_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20241231__us-gaap--AwardTypeAxis__custom--EquityStockAwardsMember__srt--StatementScenarioAxis__custom--GrantedUnderTwoThousandEighteenPlanAndTwoThousandSevenPlanMember_zJHHakkPzZba" title="Common stock, reserved for future issuance">1,555,073 shares of Imunon common stock subject to equity awards previously granted under the 2018 Plan and 2007 Plan and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenStockIncentivePlanMember_zLrj9bSYFSMk" title="Shares available for issuance">420,000 shares of Imunon common stock available for future issuance under the 2018 Plan. As of December 31, 2024, there are a total of <span id="xdx_90A_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20241231__us-gaap--AwardTypeAxis__custom--InducementAwardsMember_zrqjMOEvC972" title="Common stock, reserved for future issuance">130,500 shares of Imunon common stock subject to outstanding inducement awards. Total compensation cost related to stock options and restricted stock awards was approximately $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240101__20241231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember_zZKr7Xbk0Ly7" title="Share based compensation">0.5 million and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20230101__20231231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember_zMm4JRhZcZMh" title="Share based compensation">0.8 million during 2024 and 2023, respectively. Of these amounts, $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240101__20241231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember__us-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zvFiZ55Q4zy4" title="Share based compensation expense">0.3 million and $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20230101__20231231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember__us-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zdMi7N3N3dGl" title="Share based compensation expense">0.2 million were charged to research and development expenses during 2024 and 2023, respectively, and $<span id="xdx_900_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240101__20241231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zM6kUoHiDdr4" title="Share based compensation">0.2 million and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20230101__20231231__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionAndRestrictedStockAwardsMember__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_z59MNpv4F4Uh" title="Share based compensation">0.6 million were charged to general and administrative expenses during 2024 and 2023, respectively. <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z8l0Ay4zzcI7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of stock option awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024 is presented below: SUMMARY OF STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Stock Options</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zNJMXarr63H6" style="width: 12%; text-align: right" title="Number Outstanding, Outstanding, Beginning balance">760,220</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z4eNJRRL00yl" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning balance">4.55</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjlUlgrQXE1b" style="text-align: right" title="Number Outstanding, Options granted">432,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z86IZFDQBwmc" style="text-align: right" title="Weighted Average Exercise Price, Options granted">1.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Options canceled or expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z0qzbteOkC7h" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Options canceled or expired">(129,238</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjMKEcOzuJij" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Options canceled or expired">9.37</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z41s54Q7FPA" style="text-align: right" title="Number Outstanding, Outstanding, Beginning balance">1,063,482</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zZZKG3Pnf601" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning balance">2.61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGnmgQ5m4mDd" style="text-align: right" title="Number Outstanding, Options granted">1,051,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zB9aU3mYf3Ig" style="text-align: right" title="Weighted Average Exercise Price, Options granted">1.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Options canceled or expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zdk0cT81T7Y7" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Options canceled or expired">(469,444</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXIQ6eKuWvRd" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Options canceled or expired">1.58</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zB9YdanU429a" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Outstanding, Ending balance">1,645,873</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPgcGEuAWKs6" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending balance">1.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7KqOTDF2zhh" title="Weighted Average Remaining Contractual Term (years), Outstanding, Ending balance">8.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pp0p0_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z80FYQgd8joc" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending balance">13,476</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z34A130IUop3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Exercisable, Ending balance">907,723</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbos3BQsD5nd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable, Ending balance">2.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztNEf6U3r8Ya" title="Weighted Average Remaining Contractual Term (years), Exercisable, Ending balance">8.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pp0p0_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zzovtrSpQvGb" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Exercisable, Ending balance">7,299</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_89B_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_z4CQpCRPhkib" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024, is presented below: SUMMARY OF NON-VESTED RESTRICTED STOCK AWARDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Restricted Stock</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Non-vested stock awards outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230101__20231231_zrAa5r7ijF47" style="width: 16%; text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Beginning balance">69,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20230101__20231231_z4GTYcL6ZXYf" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Beginning balance">1.92</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230101__20231231_z9Wjq5p9onjg" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Granted">22,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zb9Og7xe4Mce" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Granted">0.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20230101__20231231_zVQ1h5tySgp6" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Vested and issued">(59,450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zrVzDHqAA35d" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Vested and issued">1.91</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230101__20231231_zLm1EdDMhxu7" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Non-vested stock awards, Forfeited">(200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20230101__20231231_z3EprKT964d5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Forfeited">4.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-vested stock awards outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231_zzlYQPS5wAod" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Beginning balance">32,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240101__20241231_zQvn5ShkEkNb" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Beginning balance">1.23</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20241231_zqOa9UhzjXmk" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Granted">39,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231_zcYZqQzgWbq9" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Granted">0.99</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20241231_zjd1ppaRNEB4" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Vested and issued">(12,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231_zAvVVdZq9Mff" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Vested and issued">1.84</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231_z0WgeoM8sAB4" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Non-vested stock awards, Forfeited">(20,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240101__20241231_zrr4LewQ5dU4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Forfeited">0.88</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-vested stock awards outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231_za3je5nz976l" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Ending balance">39,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20241231_zT4qcQ0aRKma" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Ending balance">0.99</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z4uMi7arfhc6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of stock options outstanding at December 31, 2024 by price range is as follows: SUMMARY OF STOCK OPTIONS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range of Exercise Prices</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Up to $<span id="xdx_90D_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zC2EgXvNdui6" title="Range of Exercise Prices, Upper">1.50</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zOABDZXKzbz1" style="width: 8%; text-align: right" title="Options Outstanding, Number">1,250,252</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zBS2gZE4ARnl" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">9.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zLwlTvB5X1Nc" style="width: 8%; text-align: right" title="Options Outstanding, Weighted Average Exercise Price">1.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zUyBq80VkaDg" style="width: 8%; text-align: right" title="Options Exercisable, Number">513,433</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zjg2C1U2Uqoj" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">9.1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zZPCgkp8keJe" style="width: 8%; text-align: right" title="Options Exercisable, Weighted Average Exercise Price">1.13</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>$<span id="xdx_901_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zVWu8UBrqpA1" title="Range of Exercise Prices, Lower">1.51 to $<span id="xdx_905_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_z8dizvnAXnRj" title="Range of Exercise Prices, Upper">4.50</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zJYbSSVN4667" style="text-align: right" title="Options Outstanding, Number">207,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zCIRvRAsVSl" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">7.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zz61uMkY9wL4" style="text-align: right" title="Options Outstanding, Weighted Average Exercise Price">1.93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zTahOV2subqg" style="text-align: right" title="Options Exercisable, Number">206,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zaw6ZHbbKA8j" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">7.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zMVRzkiZWrSf" style="text-align: right" title="Options Exercisable, Weighted Average Exercise Price">1.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Above $<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_z9j5NnQlDsN2" title="Range of Exercise Prices, Upper">4.51</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zsNUpLwp6gQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Options Outstanding, Number">188,276</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zNBVjGePI7t4" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">6.9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zyB1BcHBruH9" style="padding-bottom: 1pt; text-align: right" title="Options Outstanding, Weighted Average Exercise Price">7.28</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_ztBKsnFquL5" style="border-bottom: Black 1pt solid; text-align: right" title="Options Exercisable, Number">188,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zosgcMRbfIA8" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">6.9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zwwVWasmmWVi" style="padding-bottom: 1pt; text-align: right" title="Options Exercisable, Weighted Average Exercise Price">7.27</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231_zJSATgPb4Zs2" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Outstanding, Number">1,645,873</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231_zWWsWlE1Ojlk" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Exercisable, Number">907,723</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zRn1E7vsrxu" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Imunon’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model: SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Year Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240101__20241231_zGTyUNEaqw6b" title="Risk-free interest rate, minimum">3.72% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240101__20241231_zOkmyCvW4FMc" title="Risk-free interest rate, maximum">4.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20230101__20231231_zrRrmc9xZQkl" title="Risk-free interest rate, minimum">3.39 % to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20230101__20231231_zpbW6ynBzo7j" title="Risk-free interest rate, maximum">4.81</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20240101__20241231_zxlHAtQoGwc" title="Expected volatility, minimum">101.7% to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20240101__20241231_zYeGq2RjFJhi" title="Expected volatility, maximum">115.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230101__20231231_zsio7YMyPY4f" title="Expected volatility, minimum">100.0% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230101__20231231_zTpLuGyWtvTi" title="Expected volatility, maximum">113.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zk09D2exgTjh" title="Expected life (in years)">7.5 to <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zFbDBv8hAmL6" title="Expected life (in years)">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zVFdjiTdvoj9" title="Expected life (in years)">7.5 to <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zwtWbIOu3Ywf" title="Expected life (in years)">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Expected dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240101__20241231_zL7AaJc4Rar7" style="width: 16%; text-align: right" title="Expected dividend yield">0.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230101__20231231_zrkO6QxHlKh5" style="width: 16%; text-align: right" title="Expected dividend yield">0.0</td><td style="width: 1%; text-align: left">%</td></tr> </table> Expected volatilities utilized in the model are based on historical volatility of the Company’s stock price. As of December 31, 2024, there was $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20241231_zViXpu5K4stj" title="Unrecognized compensation cost related to non-vested stock-based compensation arrangements">0.5 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231_z6SnXkh9HZy9" title="Cost recognized over a weighted-average period">1.4 years.

180000

80000

260000

166667

426667

513333

940000

1030000

1970000

Options are generally granted with strike prices equal to the fair market value of a share of Imunon common stock on the date of grant. Incentive stock options may be granted to purchase shares of common stock at a price not less than 100% of the fair market value of the underlying shares on the date of grant, provided that the exercise price of any incentive stock option granted to an eligible employee owning more than 10% of the outstanding stock of Imunon must be at least 110% of such fair market value on the date of grant. Only officers and key employees may receive incentive stock options.

110000

1.02

1975073

1555073

420000

130500

500000

800000

300000

200000

600000

<p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z8l0Ay4zzcI7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of stock option awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024 is presented below: SUMMARY OF STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Stock Options</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zNJMXarr63H6" style="width: 12%; text-align: right" title="Number Outstanding, Outstanding, Beginning balance">760,220</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z4eNJRRL00yl" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning balance">4.55</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjlUlgrQXE1b" style="text-align: right" title="Number Outstanding, Options granted">432,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z86IZFDQBwmc" style="text-align: right" title="Weighted Average Exercise Price, Options granted">1.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Options canceled or expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z0qzbteOkC7h" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Options canceled or expired">(129,238</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjMKEcOzuJij" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Options canceled or expired">9.37</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z41s54Q7FPA" style="text-align: right" title="Number Outstanding, Outstanding, Beginning balance">1,063,482</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zZZKG3Pnf601" style="text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning balance">2.61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGnmgQ5m4mDd" style="text-align: right" title="Number Outstanding, Options granted">1,051,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zB9aU3mYf3Ig" style="text-align: right" title="Weighted Average Exercise Price, Options granted">1.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Options canceled or expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zdk0cT81T7Y7" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Options canceled or expired">(469,444</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zXIQ6eKuWvRd" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Options canceled or expired">1.58</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zB9YdanU429a" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Outstanding, Ending balance">1,645,873</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPgcGEuAWKs6" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending balance">1.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7KqOTDF2zhh" title="Weighted Average Remaining Contractual Term (years), Outstanding, Ending balance">8.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pp0p0_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z80FYQgd8joc" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending balance">13,476</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z34A130IUop3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Exercisable, Ending balance">907,723</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbos3BQsD5nd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable, Ending balance">2.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztNEf6U3r8Ya" title="Weighted Average Remaining Contractual Term (years), Exercisable, Ending balance">8.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pp0p0_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zzovtrSpQvGb" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Exercisable, Ending balance">7,299</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

760220

4.55

432500

1.23

129238

9.37

1063482

2.61

1051835

1.12

469444

1.58

1645873

1.95

P8Y9M18D

13476

907723

2.58

P8Y3M18D

7299

<p id="xdx_89B_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_z4CQpCRPhkib" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024, is presented below: SUMMARY OF NON-VESTED RESTRICTED STOCK AWARDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Restricted Stock</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Non-vested stock awards outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230101__20231231_zrAa5r7ijF47" style="width: 16%; text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Beginning balance">69,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20230101__20231231_z4GTYcL6ZXYf" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Beginning balance">1.92</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230101__20231231_z9Wjq5p9onjg" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Granted">22,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zb9Og7xe4Mce" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Granted">0.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20230101__20231231_zVQ1h5tySgp6" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Vested and issued">(59,450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zrVzDHqAA35d" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Vested and issued">1.91</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230101__20231231_zLm1EdDMhxu7" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Non-vested stock awards, Forfeited">(200</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20230101__20231231_z3EprKT964d5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Forfeited">4.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-vested stock awards outstanding at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231_zzlYQPS5wAod" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Beginning balance">32,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240101__20241231_zQvn5ShkEkNb" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Beginning balance">1.23</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20241231_zqOa9UhzjXmk" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Granted">39,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231_zcYZqQzgWbq9" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Granted">0.99</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20241231_zjd1ppaRNEB4" style="text-align: right" title="Number Outstanding, Non-vested stock awards, Vested and issued">(12,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231_zAvVVdZq9Mff" style="text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Vested and issued">1.84</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231_z0WgeoM8sAB4" style="border-bottom: Black 1pt solid; text-align: right" title="Number Outstanding, Non-vested stock awards, Forfeited">(20,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240101__20241231_zrr4LewQ5dU4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Forfeited">0.88</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-vested stock awards outstanding at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231_za3je5nz976l" style="border-bottom: Black 2.5pt double; text-align: right" title="Number Outstanding, Non-vested stock awards, Outstanding, Ending balance">39,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20241231_zT4qcQ0aRKma" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Ending balance">0.99</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

69650

1.92

22100

0.92

59450

1.91

200

4.60

32100

1.23

39700

0.99

12100

1.84

20000

0.88

39700

0.99

<p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z4uMi7arfhc6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">A summary of stock options outstanding at December 31, 2024 by price range is as follows: SUMMARY OF STOCK OPTIONS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range of Exercise Prices</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Up to $<span id="xdx_90D_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zC2EgXvNdui6" title="Range of Exercise Prices, Upper">1.50</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zOABDZXKzbz1" style="width: 8%; text-align: right" title="Options Outstanding, Number">1,250,252</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zBS2gZE4ARnl" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">9.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zLwlTvB5X1Nc" style="width: 8%; text-align: right" title="Options Outstanding, Weighted Average Exercise Price">1.15</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zUyBq80VkaDg" style="width: 8%; text-align: right" title="Options Exercisable, Number">513,433</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zjg2C1U2Uqoj" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">9.1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zZPCgkp8keJe" style="width: 8%; text-align: right" title="Options Exercisable, Weighted Average Exercise Price">1.13</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>$<span id="xdx_901_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zVWu8UBrqpA1" title="Range of Exercise Prices, Lower">1.51 to $<span id="xdx_905_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_z8dizvnAXnRj" title="Range of Exercise Prices, Upper">4.50</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zJYbSSVN4667" style="text-align: right" title="Options Outstanding, Number">207,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zCIRvRAsVSl" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">7.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zz61uMkY9wL4" style="text-align: right" title="Options Outstanding, Weighted Average Exercise Price">1.93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zTahOV2subqg" style="text-align: right" title="Options Exercisable, Number">206,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zaw6ZHbbKA8j" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">7.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zMVRzkiZWrSf" style="text-align: right" title="Options Exercisable, Weighted Average Exercise Price">1.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Above $<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_z9j5NnQlDsN2" title="Range of Exercise Prices, Upper">4.51</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zsNUpLwp6gQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Options Outstanding, Number">188,276</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zNBVjGePI7t4" title="Options Outstanding, Weighted Average Remaining Contractual Term (in years)">6.9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zyB1BcHBruH9" style="padding-bottom: 1pt; text-align: right" title="Options Outstanding, Weighted Average Exercise Price">7.28</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_ztBKsnFquL5" style="border-bottom: Black 1pt solid; text-align: right" title="Options Exercisable, Number">188,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zosgcMRbfIA8" title="Options Exercisable, Weighted Average Remaining Contractual Term (in years)">6.9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20241231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zwwVWasmmWVi" style="padding-bottom: 1pt; text-align: right" title="Options Exercisable, Weighted Average Exercise Price">7.27</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20241231_zJSATgPb4Zs2" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Outstanding, Number">1,645,873</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20241231_zWWsWlE1Ojlk" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Exercisable, Number">907,723</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1.50

1250252

P9Y3M18D

1.15

513433

P9Y1M6D

1.13

1.51

4.50

207345

P7Y6M

1.93

206289

P7Y6M

1.93

4.51

188276

P6Y10M24D

7.28

188001

P6Y10M24D

7.27

1645873

907723

<p id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zRn1E7vsrxu" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Imunon’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model: SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Year Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240101__20241231_zGTyUNEaqw6b" title="Risk-free interest rate, minimum">3.72% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240101__20241231_zOkmyCvW4FMc" title="Risk-free interest rate, maximum">4.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20230101__20231231_zrRrmc9xZQkl" title="Risk-free interest rate, minimum">3.39 % to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20230101__20231231_zpbW6ynBzo7j" title="Risk-free interest rate, maximum">4.81</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20240101__20241231_zxlHAtQoGwc" title="Expected volatility, minimum">101.7% to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20240101__20241231_zYeGq2RjFJhi" title="Expected volatility, maximum">115.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230101__20231231_zsio7YMyPY4f" title="Expected volatility, minimum">100.0% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230101__20231231_zTpLuGyWtvTi" title="Expected volatility, maximum">113.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zk09D2exgTjh" title="Expected life (in years)">7.5 to <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zFbDBv8hAmL6" title="Expected life (in years)">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_zVFdjiTdvoj9" title="Expected life (in years)">7.5 to <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_zwtWbIOu3Ywf" title="Expected life (in years)">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Expected dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240101__20241231_zL7AaJc4Rar7" style="width: 16%; text-align: right" title="Expected dividend yield">0.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230101__20231231_zrkO6QxHlKh5" style="width: 16%; text-align: right" title="Expected dividend yield">0.0</td><td style="width: 1%; text-align: left">%</td></tr> </table>

0.0372

0.0450

0.0339

0.0481

1.017

1.158

1.000

1.136

P7Y6M

P10Y

P7Y6M

P10Y

0.000

500000

P1Y4M24D

12. WARRANTS The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (“ASC 480”), and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company has analyzed the Warrants issued in the July 2024 Offering and determined they are considered to be freestanding instruments and do not exhibit any of the characteristics in ASC 480 and therefore are not classified as liabilities under ASC 480. The Warrants meet all of the requirements for equity classification under ASC 815 and therefore are classified as equity. <p id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zJ2ZnTFgCM0c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Following is a summary of all warrant activity for the two years ended December 31, 2024: SUMMARY OF WARRANT ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Warrants Issued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Warrants outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20230101__20231231_fKg_____z34bE1wU0zL8" style="width: 16%; text-align: right" title="Number of Warrants Issued, Warrants outstanding, Beginning balance">168,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231_zcKF45NV6RBd" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Beginning balance">19.78</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants issued during 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20241231_zeMEUKZYq7Ba" style="text-align: right" title="Number of Warrants Issued, Warrants issued">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriosWeightedAverageExercisePrice_c20240101__20241231_zgdqQZqWLjAf" style="text-align: right" title="Weighted Average Exercise Price, Warrants issued">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrants expired during 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20230101__20231231_zYc1C5iqDFk7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Issued, warrants expired">(8,459</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zkTJAkmi1rl8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Warrants expired">37.29</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants outstanding and exercisable at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240101__20241231_fKg_____z5lebPFRBBci" style="text-align: right" title="Number of Warrants Issued, Warrants outstanding, Beginning balance">160,060</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_c20240101__20241231_zCdsBv4AEEE4" style="text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Beginning balance">18.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants issued during 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20241231_zoyRFWBjB1p7" style="text-align: right" title="Number of Warrants Issued, Warrants issued">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriosWeightedAverageExercisePrice_c20240101__20241231_zxLHC3wAQTI6" style="text-align: right" title="Weighted Average Exercise Price, Warrants issued">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Warrants expired during 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20240101__20241231_zti0AXQom2y7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Issued, Warrants expired">(5,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240101__20241231_zLqFJVD2qeo4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Warrants expired">11.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Warrants outstanding and exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20240101__20241231_ztWbPxwDd6b6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants Issued, Warrants outstanding, Ending balance">5,155,060</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_c20240101__20241231_zys4QATDg5dk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Ending balance">2.51</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Aggregate intrinsic value of outstanding warrants at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iI_pp0p0_c20241231_zgqrkSeOdIW8" title="Aggregate intrinsic value of outstanding warrants">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining contractual terms (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_fKg_____zwIguOVwLCRg" title="Weighted average remaining contractual terms (years)">5.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>

<p id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zJ2ZnTFgCM0c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Following is a summary of all warrant activity for the two years ended December 31, 2024: SUMMARY OF WARRANT ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Warrants Issued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Warrants outstanding at January 1, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20230101__20231231_fKg_____z34bE1wU0zL8" style="width: 16%; text-align: right" title="Number of Warrants Issued, Warrants outstanding, Beginning balance">168,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231_zcKF45NV6RBd" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Beginning balance">19.78</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants issued during 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20241231_zeMEUKZYq7Ba" style="text-align: right" title="Number of Warrants Issued, Warrants issued">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriosWeightedAverageExercisePrice_c20240101__20241231_zgdqQZqWLjAf" style="text-align: right" title="Weighted Average Exercise Price, Warrants issued">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrants expired during 2023</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20230101__20231231_zYc1C5iqDFk7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Issued, warrants expired">(8,459</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zkTJAkmi1rl8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Warrants expired">37.29</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants outstanding and exercisable at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240101__20241231_fKg_____z5lebPFRBBci" style="text-align: right" title="Number of Warrants Issued, Warrants outstanding, Beginning balance">160,060</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_c20240101__20241231_zCdsBv4AEEE4" style="text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Beginning balance">18.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants issued during 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20241231_zoyRFWBjB1p7" style="text-align: right" title="Number of Warrants Issued, Warrants issued">5,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriosWeightedAverageExercisePrice_c20240101__20241231_zxLHC3wAQTI6" style="text-align: right" title="Weighted Average Exercise Price, Warrants issued">2.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Warrants expired during 2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20240101__20241231_zti0AXQom2y7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Issued, Warrants expired">(5,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240101__20241231_zLqFJVD2qeo4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Warrants expired">11.85</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Warrants outstanding and exercisable at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20240101__20241231_ztWbPxwDd6b6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants Issued, Warrants outstanding, Ending balance">5,155,060</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_c20240101__20241231_zys4QATDg5dk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Warrants outstanding, Ending balance">2.51</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Aggregate intrinsic value of outstanding warrants at December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iI_pp0p0_c20241231_zgqrkSeOdIW8" title="Aggregate intrinsic value of outstanding warrants">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining contractual terms (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_fKg_____zwIguOVwLCRg" title="Weighted average remaining contractual terms (years)">5.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>

168519

19.78

5000000

2.00

8459

37.29

160060

18.86

5000000

2.00

5000

11.85

5155060

2.51 P5Y

<p id="xdx_805_eus-gaap--CompensationAndEmployeeBenefitPlansTextBlock_zSjUR1FgFAL" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">13. IMUNON EMPLOYEE BENEFIT PLANS Imunon maintains a defined-contribution plan under Section 401(k) of the Code. The plan covers substantially all employees over the age of twenty-one. Participating employees may defer a portion of their pretax earnings, up to the IRS annual contribution limit. The Company makes a matching contribution up to a maximum of 3% of an employee’s annual salary. The Company’s total matching contributions for the year ended December 31, 2024 and 2023 were $62,000 and $142,000, respectively.

0.03

62000

142000

14. LEASES Lawrenceville, New Jersey Lease In August 2023, the Company renewed its Lawrenceville office lease for a 24-month agreement for 9,850 square feet with monthly rent payments of approximately $<span id="xdx_909_eus-gaap--PaymentsForRent_pp0p0_c20230801__20230831__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__srt--RangeAxis__srt--MinimumMember_zPClH1MhBFOd" title="Payments for rent">22,983 to $<span id="xdx_906_eus-gaap--PaymentsForRent_pp0p0_c20230801__20230831__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zKwimQSDSEye" title="Payments for rent">23,394. Huntsville, Alabama Lease In January 2023, the Company renewed its Huntsville facility lease for a 60-month lease agreement for 11,420 square feet with monthly rent payments of approximately $<span id="xdx_90D_eus-gaap--PaymentsForRent_pp0p0_c20230101__20230131__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__srt--RangeAxis__srt--MinimumMember_zKoMycPK3NAl" title="Payments for rent">28,550 to $<span id="xdx_901_eus-gaap--PaymentsForRent_pp0p0_c20230101__20230131__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__srt--RangeAxis__srt--MaximumMember_z16RY8z5Wusg" title="Payments for rent">30,903. <p id="xdx_89C_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zTtl57qOKdca" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following is a table of the lease payments and maturity of the Company’s operating lease liabilities as of December 31, 2024: SCHEDULE OF LEASE PAYMENTS AND MATURITY OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zlwmB1L5fH14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ending December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzy9p_z8U9WnNpaBub" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">543,009</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzy9p_zFGm5DMTnwre" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">362,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzy9p_zW6RfUsRkspe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,235</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter_iI_maLOLLPzy9p_z9aKaq1ytOM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,904</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzy9p_maOLLz45C_maOLLzlbh_zotiXEslMm4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subtotal future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,307,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zdcmyBRBBK01" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(167,831</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_zv06nHSZ7uk6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average remaining life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2.7 years </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Weighted average discount rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241231_zVcwOso1kwV3" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, weighted average discount rate, percent">9.98</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> The discount rate used was the Company’s incremental borrowing rate, which is 9.98%, as the Company could not determine the rate implicit in the lease. For 2024, operating lease expense was $652,166 and cash paid for operating leases included in operating cash flows was $659,646. For 2023, operating lease expense was $646,633 and cash paid for operating leases included in operating cash flows was $644,593. Amortization expense was approximately $478,000 and $472,000 for the years ended December 31, 2024 and 2023, respectively.

P24M

9850

22983

23394

P60M

11420

28550

30903

<p id="xdx_89C_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zTtl57qOKdca" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following is a table of the lease payments and maturity of the Company’s operating lease liabilities as of December 31, 2024: SCHEDULE OF LEASE PAYMENTS AND MATURITY OF OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zlwmB1L5fH14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ending December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzy9p_z8U9WnNpaBub" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">543,009</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzy9p_zFGm5DMTnwre" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">362,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzy9p_zW6RfUsRkspe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,235</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter_iI_maLOLLPzy9p_z9aKaq1ytOM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2028 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,904</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzy9p_maOLLz45C_maOLLzlbh_zotiXEslMm4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subtotal future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,307,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zdcmyBRBBK01" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(167,831</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_zv06nHSZ7uk6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average remaining life</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2.7 years </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Weighted average discount rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241231_zVcwOso1kwV3" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, weighted average discount rate, percent">9.98</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table>

543009

362976

370235

30904

1307124

167831

1139293

P2Y8M12D

0.0998

652166

659646

646633

644593

478000

472000

<p id="xdx_806_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_z8zBLQlNyDX5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">15. COMMITMENTS AND CONTINGENCIES We are not currently a party to any material legal proceedings.

<p id="xdx_80B_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zteBUWcvnHK8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">16. RELATED PARTY TRANSACTION On November 16, 2022, the Company entered into a convertible note purchase agreement with Transomic Technologies, Inc. (“Transomic”) whereby the Company purchased $<span id="xdx_908_eus-gaap--ConvertibleNotesPayable_iI_c20221116__us-gaap--TypeOfArrangementAxis__custom--ConvertibleNotePurchaseAgreementMember__dei--LegalEntityAxis__custom--TransomicTechnologiesIncMember_zRtQ0peERVej" title="Convertible notes and warrants">375,000 of convertible notes secured by certain assets held by Transomic and warrants. Imunon purchased products from Transomic for research and development purposes – primarily delivery vectors for its vaccine program. As a result of this investment in Transomic, Imunon’s executive chairman, Mr. Michael Tardugno, was appointed to the Board of Directors of Transomic. The Company disclosed the notes receivable as a related party transaction. In December 2023, Transomic filed a formal certificate of dissolution of the company resulting in a complete write-off of the convertible note and related warrants.

375000

17. SUBSEQUENT EVENTS The Company has evaluated its subsequent events from December 31, 2024, through the date these condensed consolidated financial statements were issued, determining all subsequent events have been disclosed.