Related Party Transactions |
12 Months Ended |
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Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Note 9 – Related Party Transactions
CorLyst, LLC
CorLyst, LLC (“CorLyst”) reimburses us for shared costs related to payroll, health insurance and rent based on actual costs incurred, which are recognized as a reduction of our general and administrative operating expenses in our consolidated statements of operations. We recorded approximately $100,000 and $110,000 in reimbursements during the years ended December 31, 2025 and 2024, respectively. At December 31, 2025, no amounts were due from CorLyst and $47 was due at December 31, 2024. Our President, Research and Development is the Chief Executive Officer of CorLyst, and CorLyst is a shareholder of the Company.
The Chiliz Group
The Chiliz Group (formerly known as ‘HX Entertainment Limited’) is the issuer of the Chiliz Token. On August 4, 2025, we sold 218,688 restricted shares of our common stock to The Chiliz Group for $1.2 million in net proceeds, and on February 17, 2026, we sold them an additional 86,956 restricted shares of our common stock for $200,000. As of March 13, 2026, The Chiliz Group owned 11.5% of our shares of common stock outstanding.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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