Total Revenue

Remained at $0

Revenue remains unchanged at $0 in Q1 2025 as the company is still in its pre-revenue phase, consistent with prior periods. " "

Operating Loss

Improved by approximately 3.5% (from a loss of $3.29 million to $3.17 million)

The modest improvement in operating loss reflects slight operational efficiencies and cost management improvements relative to Q1 2024, despite ongoing high operating expenses. " "

Research and Development (R&D)

Increased by 26% YoY to about $2.22 million

R&D spending rose significantly as increased clinical trial start-up costs and related activities boosted expenditures, following a lower baseline in Q1 2024. " "

General & Administrative (G&A)

Decreased by 38% YoY to roughly $0.95 million

The sharp decline in G&A expenses is attributed to cost-saving measures and reductions in non-essential administrative spending compared to the previous period. " "

Total Other Income (Expense)

Deteriorated dramatically from a loss of ~$37,830 to about -$8.91 million

A significant swing in non-operating results, primarily due to a substantial increase in losses related to the fair value adjustment of warrant liabilities (including impacts from Series D warrant exercises) compared to nearly neutral figures in Q1 2024. " "

Cash at Period End

Increased by approximately 135% (from $4.91 million to $11.57 million)

Strong cash inflows, primarily driven by robust financing activities and effective operational cash management, resulted in a substantial surge in liquidity compared to Q1 2024. " "

Total Assets

Increased by 81% (from $7.29 million to $13.19 million)

The rise in total assets is largely due to the improved cash position, which significantly bolstered the asset base relative to the previous period. " "

Stockholders’ Equity

Increased by 124% (from $4.58 million to $10.29 million)

Enhanced by proceeds from common stock issuances, warrant exercises, and share-based compensation despite the net loss, stockholders’ equity more than doubled compared to Q1 2024. " "

Weighted-Average Common Shares Outstanding

Declined by about 6% (from 5.14 million to 4.82 million)

The decrease in weighted-average shares outstanding is likely due to share consolidations (such as reverse stock splits) or similar restructuring activities that reduced the share count compared to Q1 2024. " "