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BASIS OF PRESENTATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 8,928	$ 7,492
Cash used in operations	6,059	$ 5,435
Cash, cash equivalents and restricted cash	9,300
Rrestricted cash	2,000
Short-term investments	$ 16,900

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

SCHEDULE OF WARRANTS ACTIVITIES (Details)	3 Months Ended
SCHEDULE OF WARRANTS ACTIVITIES (Details)	Mar. 31, 2026 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of warrant shares, beginning \| shares	7,930,785
Weighted average exercise price, beginning	$ 5.30
Number of warrant shares, granted \| shares
Exercise price range per share, granted
Weighted average exercise price, granted
Number of warrant shares, cancelled \| shares
Exercise price range per share, cancelled
Weighted average exercise price, cancelled
Number of warrant shares, exercised \| shares
Exercise price range per share, exercised
Weighted average exercise price, exercised
Number of warrant shares, expired \| shares
Exercise price range per share, expired
Weighted average exercise price, expired
Number of warrant shares, ending \| shares	7,930,785
Weighted average exercise price, ending	$ 5.30
Number of warrant shares, vested and exercisable \| shares	7,930,785
Weighted average exercise price, vested and exercisable	$ 5.30
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price range range per share, beginning	3.00
Exercise price range per share, ending	3.00
Exercise price range per share, vested and exercisable	3.00
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price range range per share, beginning	9.00
Exercise price range per share, ending	9.00
Exercise price range per share, vested and exercisable	$ 9.00

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2024	$ 35	$ (433)	$ 278,001	$ 64	$ (251,393)	$ 26,274
Balance, shares at Dec. 31, 2024	34,728,140
Treasury stock balance, shares at Dec. 31, 2024		(433,333)
Stock compensation			1,423			1,423
Unrealized loss on marketable securities				(35)		(35)
Fair value of vested restricted stock units			103			103
Cost of stock option repricing			6			6
Issuance of common stock for cash	$ 3		9,550			9,553
Issuance of common stock for cash, shares	3,000,000
Issuance of common stock upon exercise of stock options			14			14
Issuance of common stock upon exercise of stock options, shares	5,000
Net loss					(7,492)	(7,492)
Balance at Mar. 31, 2025	$ 38	$ (433)	289,097	29	(258,885)	29,846
Balance, shares at Mar. 31, 2025	37,733,140
Treasury stock balance, shares at Mar. 31, 2025		(433,333)
Balance at Dec. 31, 2025	$ 38	$ (433)	295,468	9	(283,538)	$ 11,544
Balance, shares at Dec. 31, 2025	38,139,144
Treasury stock balance, shares at Dec. 31, 2025		(433,333)				433,333
Stock compensation			1,394			$ 1,394
Unrealized loss on marketable securities				(14)		(14)
Fair value of vested restricted stock units			319			319
Fair value of vested restricted stock units , shares	29,063
Cost of stock option repricing			68			68
Issuance of common stock for cash	$ 7		18,518			18,525
Issuance of common stock for cash, shares	6,666,667
Issuance of common stock upon exercise of stock options			13			$ 13
Issuance of common stock upon exercise of stock options, shares	5,542					5,542
Net loss					(8,928)	$ (8,928)
Balance at Mar. 31, 2026	$ 45	$ (433)	$ 315,780	$ (5)	$ (292,466)	$ 22,921
Balance, shares at Mar. 31, 2026	44,840,416
Treasury stock balance, shares at Mar. 31, 2026		(433,333)				433,333

LEASES

3 Months Ended

Mar. 31, 2026

Leases

LEASES

NOTE 7 – LEASES

Westlake Village, California: The Company leases 4,050 square feet of office space located at 2625 Townsgate Road for its corporate headquarters. The lease expires on July 14, 2027. The lease contains an option to renew for two additional five-year terms and first right of refusal for certain additional space at the same premises. The Company is not reasonably certain that it will exercise this option to renew and therefore it is not included in right-of-use assets and liabilities as of March 31, 2026.

San Diego, California: The Company leases 6,755 square feet of office and research and development laboratory space located at 6365 Marindustry Drive. The lease was extended to expire on October 31, 2035.

The Company also leases 7,569 square feet of manufacturing space located at 6335 Marindustry Drive, in which the lease was extended to expire on October 31, 2035.

During March 2026, the Company executed an amendment to extend the lease term for both San Diego facilities. The extension modified the lease term and resulted in a reassessment of the lease liability and right-of-use asset. As a result of the extension, the Company remeasured the lease liability using a revised discount rate as of the modification date and recorded a corresponding adjustment to the right-of-use asset.

Manufacturing equipment lease: On September 4, 2025, the Company entered into written agreements (Equipment Agreements), whereby the Company agreed to acquire certain equipment through a financing arrangement structured as a finance lease. Lease commencement will occur when the equipment is made available to the Company, which is the final onsite installation date and is expected to be approximately 14 months after the execution of the Equipment Agreements, or approximately November 2026. The Company has the option to purchase the asset at the end of the lease term for the amount of $1. At that time, recognition of the related finance lease asset and liability commences. Upon commencement, the lease term will be 60 months (Initial Term), with future lease payments up to approximately $6.2 million. The Company has the right to terminate the lease without cause at the end of the Initial Term or any term thereafter upon 90 days prior written notice without incurring penalties or interest.

As of March 31, 2026, no right-of-use asset or liability has been recognized in the financial statements, as the Company does not have possession of the equipment. The Equipment Agreements also include a refundable security deposit, equal to $2.0 million as of March 31, 2026, which is classified as restricted cash on the Company’s condensed balance sheet.

The components of lease assets and liabilities along with their classification on the Company’s condensed balance sheets were as follows:

Lease Assets and Liabilities	Classification	March 31, 2026		December 31, 2025
		(in thousands)
Operating lease assets	Right-of-use assets	$	2,393	$	1,583
Current operating lease liabilities	Lease liabilities		316		427
Non-current operating lease liabilities	Lease liabilities, net of current portion		2,179		1,258

SCHEDULE OF LEASE COST

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
Lease Cost Classification
Research and development	$	48	$	26
General and administrative expense		11		13
Lease cost		11		13

The following table presents maturities of operating lease liabilities on an undiscounted basis as of March 31, 2026:

Year	Amounts
	(in thousands)
2026 (remainder)	$	403
2027		489
2028		326
2029		336
2030		347
Thereafter		1,883
Total	$	3,784
Less imputed interest		1,289
Total operating lease liabilities (include current portion)	$	2,495

Other Leases

In November 2019, the Company entered into a short-term lease agreement for one of its office facilities, which was subsequently extended until December 2022 and thereafter on a month-to-month basis. Rent expense was de minimis during the periods ended March 31, 2026 and 2025, respectively. In February 2026, the Company terminated the lease agreement effective March 31, 2026.

SCHEDULE OF PREFERRED STOCK AND COMMON STOCK (Details) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Equity [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	44,840,416	38,139,144
Common stock, shares outstanding	44,840,416	38,139,144

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

+ Details

NET LOSS PER SHARE

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

NET LOSS PER SHARE

NOTE 11– NET LOSS PER SHARE

Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued.

The basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following:

	2026		2025
	Three Months Ended March 31,
	2026		2025
Stock options		6,918,180		5,491,921
Stock warrants		7,930,785		8,017,975
Restricted stock units		1,185,494		579,714
Total		16,034,459		14,089,610

SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 16,944	$ 9,256
Gross Unrealized Gains		6
Gross Unrealized Losses	(8)
Fair Value	16,936	9,262
US Government Agencies Debt Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	8,240	7,977
Gross Unrealized Gains		6
Gross Unrealized Losses	(4)
Fair Value	8,236	7,983
US Treasury Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	8,704	1,279
Gross Unrealized Gains
Gross Unrealized Losses	(4)
Fair Value	$ 8,700	$ 1,279

- Definition

Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477268/942-320-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147477268/942-320-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

STOCK BASED COMPENSATION (Details Narrative) - USD ($)	1 Months Ended							3 Months Ended		12 Months Ended
STOCK BASED COMPENSATION (Details Narrative) - USD ($)	Jan. 31, 2026	Sep. 30, 2025	Jun. 30, 2025	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2018	Aug. 31, 2009	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2024	Dec. 31, 2025	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unamortized stock compensation expense								$ 3,700,000
Fair market value of shares percentage, description								(i) 100% of the fair market value of a share of stock on the grant date, or (ii) with respect to awards under the 2019 Plan or 2022 Plan, 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company. Options to employees, directors and consultants generally vest and become exercisable over a period not exceeding four years. Options typically expire ten years after the date of grant.
Exercise price per share		$ 5.00						$ 2.29
Exercise price per share		$ 3.33						5.20			$ 3.92
Repricing costs		$ 1,300,000		$ 2,730,000						$ 2,720,000
Weighted average exercise price								$ 3.60
Unvested stock option expense								$ 10,900,000
Intrinsic value for warrant shares outstanding								$ 0
Employees Directors and Key Advisers [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price range, lower range limit				$ 9.00
Exercise price range, upper range limit				10.50
Weighted average exercise price				$ 6.00
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, issued	6,666,667							6,666,667	3,000,000
2009 Plan [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares granted							0
2019 Plan [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares granted						0
2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares of common stock issued					2,800,000
Common stock outstanding percentage					5.00%
Number of shares available for grant	381,391
2022 Plan [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant	1,906,957							3,179,349
2023 Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares of common stock issued												1,000,000
2023 Inducement Plan [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for grant								847,101
Number of shares, issued			1,000,000
Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Repricing costs		$ 700,000
2022 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Employee stock purchase plan description								The Company’s 2022 Employee Stock Purchase Plan (ESPP) permits eligible employees to purchase Company shares on an after-tax basis in an amount between 1% and 15% of their earnings: (i) on May 16th of each year at a 15% discount of the fair market value of the Company’s common stock on November 17th of the previous year or May 16th of the then-current year, whichever is lower, and (ii) on November 15th of each year at a 15% discount of the fair market value of the Company’s common stock on May 17th or November 15th of the then-current year, whichever is lower. The ESPP includes an “evergreen” feature, which provides that an additional number of shares of common stock will automatically be added to the shares authorized for issuance under the ESPP on January 1st of each year, beginning on January 1, 2024 and ending on (and including) January 1, 2032. The number of shares added each calendar year will equal the lesser of 1% of the Company’s common stock outstanding on December 31st of the preceding calendar year or 2,100,000 or a lesser number as determined by the Board.
Employee stock purchase, shares								0
Authorized and available, shares								1,590,932

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	44,840,416	38,139,144
Common stock, shares outstanding	44,840,416	38,139,144
Treasury stock, shares	433,333	433,333

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 4 - FAIR VALUE MEASUREMENTS

The Company employs a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The Company’s valuation techniques and inputs used to measure fair value and the definitions of the three levels (Level 1, Level 2, and Level 3) of the fair value hierarchy are disclosed in Note 2 - Summary of Significant Accounting Policies of Part IV, “Item 15. Exhibits and Financial Statements Schedules” of its Annual Report.

The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruptions, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2, or from Level 2 to Level 3. The Company recognizes transfers between levels at either the actual date of the event or a change in circumstances that caused the transfer. As of March 31, 2026 and December 31, 2025, the Company did not have any financial assets based on Level 3 measurements.

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company.

	Level 1		Level 2		Level 3		Total
	March 31, 2026
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	5,003	$	-	$	-	$	5,003
Available-for-sale securities:
US Government Agency bonds		-		8,236		-		8,236
US Treasury bonds		-		8,700		-		8,700
Marketable securities		-		8,700		-		8,700
Total financial assets	$	5,003	$	16,936	$	-	$	21,939

	Level 1		Level 2		Level 3		Total
	December 31, 2025
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	2,953	$	-	$	-	$	2,953
Available-for-sale securities:
US Government Agency bonds		-		7,983		-		7,983
US Treasury bonds		-		1,279		-		1,279
Marketable securities		-		1,279		-		1,279
Total financial assets	$	2,953	$	9,262	$	-	$	12,215

The underlying securities in the money market funds held by the Company are all government backed securities.

Cash equivalents consisted of money market funds at March 31, 2026 and December 31, 2025. Money market funds were valued by the Company using quoted prices in active markets for identical securities, which represent a Level 1 measurement within the fair value hierarchy. U.S. Government Agency bonds and U.S. Treasury bonds are government backed securities representing a Level 2 measurement.

SCHEDULE OF MATURITIES LEASE LIABILITIES (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Leases
2026 (remainder)	$ 403
2027	489
2028	326
2029	336
2030	347
Thereafter	1,883
Total	3,784
Less imputed interest	1,289
Total operating lease liabilities (include current portion)	$ 2,495

SCHEDULE OF LEASE COST (Details) - USD ($) $ in Thousands	3 Months Ended
SCHEDULE OF LEASE COST (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Research And Development Expenses [Member]
Lease cost	$ 48	$ 26
General And Administrative Expense [Member]
Lease cost	$ 11	$ 13

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2026	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares authorized		200,000,000		200,000,000
Common stock, shares issued		44,840,416		38,139,144
Common stock, shares outstanding		44,840,416		38,139,144
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued	6,666,667	6,666,667	3,000,000
Offering price per share	$ 3.00
Net proceeds from offering	$ 18.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

+ Details

- Definition

Number of new stock issued during the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

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-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

BALANCE SHEET ACCOUNTS (Tables)

3 Months Ended

Mar. 31, 2026

Balance Sheet Accounts

SCHEDULE OF PROPERTY AND EQUIPMENT

The following table summarizes the Company’s major classes of property and equipment:

SCHEDULE OF PROPERTY AND EQUIPMENT

	March 31, 2026			December 31, 2025
	(in thousands)
Furniture and office equipment	$	154		$	148
Laboratory equipment		2,918			2,918
Computer equipment		127			127
Leasehold improvements		557			557
Manufacturing equipment		7			-
Construction in progress		3,255			2,347
Total gross carrying amount		7,018			6,097
Less: accumulated depreciation and amortization		(3,937	)		(3,927	)
Property and equipment, net	$	3,081		$	2,170

SCHEDULE OF ACCRUED EXPENSE

Accrued expenses consist of the following:

SCHEDULE OF ACCRUED EXPENSE

	March 31, 2026		December 31, 2025
	(in thousands)
Accrued research and development expenses	$	5,123	$	3,903
Accrued personnel-related expenses		861		1,440
Other		972		455
Total accrued expenses	$	6,956	$	5,798

SCHEDULE OF ACCRUED EXPENSE (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Balance Sheet Accounts
Accrued research and development expenses	$ 5,123	$ 3,903
Accrued personnel-related expenses	861	1,440
Other	972	455
Total accrued expenses	$ 6,956	$ 5,798

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 2,000		$ 2,000
Unrealized gains on short term investments, net of tax	(14)	$ (35)
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 5,000		$ 3,000

- Definition

Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.

+ References + Details

SCHEDULE OF AWARDS OUTSTANDING (Details)	Mar. 31, 2026 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	8,103,674
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	6,918,180
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,185,494
2009 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,497,118
2009 Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,497,118
2009 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding
2019 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,634,924
2019 Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,634,924
2019 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding
2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	3,830,332
2022 Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	2,644,838
2022 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,185,494
Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,141,300
Inducement Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding	1,141,300
Inducement Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total awards outstanding

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Subparagraph (l)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Subparagraph (d)(1)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 30, 2025	Mar. 31, 2026	Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]
Number of options shares, beginning		6,711,979
Weighted average exercise price (per share), beginning		$ 3.92
Weighted average remaining contractual terms (in years), outstanding		6 years 3 months 29 days	4 years 21 days
Number of options shares, granted		288,154
Weighted average exercise price (per share), granted		$ 3.60
Number of options shares, cancelled		(18,492)
Weighted average exercise price (per share), cancelled		$ 2.65
Number of options shares, exercised		(5,542)
Weighted average exercise price (per share), exercised	$ 5.00	$ 2.29
Number of options shares, expired		(57,919)
Weighted average exercise price (per share), expired		$ 5.67
Number of options shares, ending		6,918,180	6,711,979
Weighted average exercise price (per share), ending	$ 3.33	$ 5.20	$ 3.92
Aggregate intrinsic value, ending		$ 162
Number of options shares, vested and exercisable		4,337,341
Weighted average exercise price (per share), vested and exercisable		$ 5.03
Weighted average remaining contractual terms (in years), vested and exercisable		3 years 11 months 12 days
Aggregate intrinsic value, vested and exercisable
Number of options shares, unvested		2,580,839

LICENSE AGREEMENTS

3 Months Ended

Mar. 31, 2026

License Agreements

LICENSE AGREEMENTS

NOTE 3 – LICENSE AGREEMENTS

In September 2021, the Company entered into the Newsoara License Agreement with Newsoara BioPharma Co. Ltd. In October 2025, Newsoara BioPharma Co. Ltd. assigned all of its rights and obligations under the Newsoara License Agreement to an affiliate, Newsoara HYK Biopharmaceuticals Co., Ltd. Pursuant to the Newsoara License Agreement, the Company granted Newsoara an exclusive license to research, develop, commercialize or exploit (i) any and all oncolytic viruses that are controlled by the Company, including Olvi-Vec but excluding V-VET1 (licensed viruses); (ii) any pharmaceutical product in final form that is comprised of or contains the licensed viruses as an active ingredient (licensed products); (iii) any virus developed by or behalf of Newsoara that (a) has a vaccinia virus backbone; (b) is not disclosed or covered by any of the Company’s patents; and (c) includes modifications (as compared to the licensed viruses) of a gene function with therapeutic intent (derived molecules); and (iv) any pharmaceutical product in final form that is comprised of or contains derived molecule as an active ingredient (derived products), in each case in mainland China, Taiwan, Hong Kong and Macau (the Newsoara Territory) in the field of human diagnostic, prophylactic and therapeutic uses (the Newsoara Field). The license granted to Newsoara is royalty bearing for licensed products and royalty free for derived products.

Under the Newsoara License Agreement, Newsoara granted the Company an exclusive and royalty bearing license to develop, commercialize, and exploit outside the Newsoara Territory any derived products developed by Newsoara. Under the terms of the Newsoara License Agreement and to date, the Company has received from Newsoara an aggregate of $11.0 million ($5.0 million as an upfront payment and $6.0 million as a milestone payment) associated with the Newsoara License Agreement. Newsoara is obligated to pay the Company additional development and commercial milestone payments up to $160.5 million in the aggregate upon the occurrence of certain development, regulatory and commercial milestones by the licensed products, and royalties on net sales of the licensed products in the mid-single-digit to mid-teens percentage range (the Newsoara Royalty). The Newsoara Royalty term, with respect to a licensed product and each region in the Newsoara Territory, is the period beginning on the date of first commercial sale of such licensed product in such region and ending on the last to occur of: (a) the expiration of the last to expire patent controlled by the Company (including any applicable patent term extension) in such region that contains either (i) an issued valid claim that covers the licensed product (including the licensed virus contained therein, and including the composition of matter and method of making and using thereof) or (ii) a pending valid claim that covers the sequence of the licensed virus contained therein; (b) the 10th anniversary of the first commercial sale of such licensed product in such region; and (c) the expiration of all regulatory exclusivity for such licensed product in such region. If the Company, at its discretion, elects to develop and commercialize outside the territory any derived product developed by Newsoara, the Company is required to make certain milestone and royalty payments to Newsoara.

Pursuant to the Newsoara License Agreement, Newsoara is required to use commercially reasonable efforts to research, develop, manufacture, and commercialize the licensed products in the Newsoara Territory in the Newsoara Field and is solely responsible for all costs and expenses incurred in connection with such activities. In addition, Newsoara is required to use commercially reasonable efforts to conduct a multi-center Phase 2 clinical trial for Olvi-Vec in NSCLC using clinical sites in the United States and China, which is the VIRO-25 clinical trial. Newsoara is generally obligated under the Newsoara License Agreement to fund the costs of the VIRO-25 clinical trial in the United States and China. In November 2023, the Company and Newsoara agreed that the Company would engage a clinical research organization (CRO) to conduct certain start-up activities for the trial in the United States only, with Newsoara to reimburse the Company for the costs and expenses. Pursuant to a letter of understanding (the LOU), in September 2025, the Company agreed with Newsoara that the CRO would conduct additional study activities beyond startup for the VIRO-25 clinical trial in the United States and Newsoara would reimburse the Company for costs and expenses related to such additional activities; however, Newsoara is permitted to defer reimbursement of the foregoing costs and expenses until the earlier of: (i) completion of its next round of financing, or (ii) December 31, 2026.

In November 2022, the Company entered into a Clinical Supply Agreement with Newsoara to manufacture and supply Olvi-Vec for Newsoara’s clinical trials in the Newsoara Territory. The Company is responsible for supplying Olvi-Vec at its own costs of manufacturing, without markup.

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SCHEDULE OF SEGMENT INFORMATION

The table below details the Company’s revenues and expenses and reconciles those amounts to the Company’s net loss as computed under GAAP in the statements of operations and comprehensive loss:

SCHEDULE OF SEGMENT INFORMATION

	2026			2025
	Three Months Ended March 31,
	2026			2025
	(in thousands)
Revenue	$	-		$	-

Less:
Research and development, excluding salaries		4,607			3,868
Salaries		2,069			1,494
Insurance		271			219
Stock-based compensation		1,781			1,533
Operating expenses		441			702
Operating loss		9,169			7,816
Other income		241			324
Net loss	$	(8,928	)	$	(7,942	)

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 30
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Paragraph 26A
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

BALANCE SHEET ACCOUNTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Balance Sheet Accounts
Depreciation expense	$ 9	$ 59

INVESTMENTS

3 Months Ended

Mar. 31, 2026

Investments, All Other Investments [Abstract]

INVESTMENTS

NOTE 5 – INVESTMENTS

The Company’s marketable securities by type, consisted of the following:

	As of March 31, 2026 (in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
US Government Agency bonds	$	8,240	$	-	$	(4	)	$	8,236
US Treasury bonds		8,704		-		(4	)		8,700
	$	16,944	$	-	$	(8	)	$	16,936

	As of December 31, 2025 (in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
US Government Agency bonds	$	7,977	$	6	$	-	$	7,983
US Treasury bonds		1,279		-		-		1,279
	$	9,256	$	6	$	-	$	9,262

As of March 31, 2026 and December 31, 2025, all available-for-sale securities consisted of investments that mature within one year.

No credit-related losses or impairments have been recognized on the Company’s marketable securities in available-for-sale securities during the three months ended March 31, 2026 and 2025.

STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF AWARDS OUTSTANDING

The following table presents a summary of awards outstanding:

SCHEDULE OF AWARDS OUTSTANDING

	2009 Plan		2019 Plan		2022 Plan		Inducement Plan		Total
	March 31, 2026
	2009 Plan		2019 Plan		2022 Plan		Inducement Plan		Total
Stock options		1,497,118		1,634,924		2,644,838		1,141,300		6,918,180
RSUs		-		-		1,185,494		-		1,185,494
Total awards outstanding		1,497,118		1,634,924		3,830,332		1,141,300		8,103,674

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES

The following table summarizes stock-based compensation expenses included in operating expenses:

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
General and administrative	$	966	$	1,036
Research and development		815		496
	$	1,781	$	1,532

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
Stock Options	$	1,462	$	1,429
RSUs		319		103
Stock-based compensation expenses	$	1,781	$	1,532

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

The following table summarizes the activity of the Company’s RSUs:

	Number of Restricted Shares			Weighted Average Grant Date Fair Value
Outstanding, December 31, 2025		1,221,432		$	4.41
Granted		-			-
Vested		(29,063	)		5.64
Forfeited		(6,875	)		2.29
Outstanding, March 31, 2026		1,185,494		$	5.30

SCHEDULE OF ASSUMPTIONS USED FOR OPTIONS GRANTED

The assumptions used for the options granted during the period are as follows:

	Three Months Ended March 31,
	2026			2025
Exercise prices	$	4.55		$	3.95
Expected dividend yield		-			-
Expected volatility		109	%		100	%
Risk-free interest rate		3.7	%		4.4	%
Expected term of options		7.0			7.0

SCHEDULE OF STOCK OPTION ACTIVITY

The table below summarizes the Company’s stock option activities for the three months ended March 31, 2026:

SCHEDULE OF STOCK OPTION ACTIVITY

	Number of Shares Subject to Outstanding Options			Weighted Average Exercise Price (Per share)		Weighted Average Remaining Contractual Terms (in Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2025		6,711,979		$	3.92		4.06		-
Granted		288,154			3.60
Cancelled		(18,492	)		2.65
Exercised		(5,542	)		2.29
Expired		(57,919	)		5.67
Outstanding at March 31, 2026		6,918,180		$	5.20		6.33		162
Vested and exercisable, March 31, 2026		4,337,341		$	5.03		3.95		-
Unvested, March 31, 2026		2,580,839

SCHEDULE OF WARRANTS ACTIVITIES

The table below summarizes the Company’s warrants activities for the three months ended March 31, 2026:

SCHEDULE OF WARRANTS ACTIVITIES

	Number of Warrant Shares		Exercise Price Range Per Share		Weighted Average Exercise Price
Outstanding, December 31, 2025		7,930,785		$3.00 – 9.00	$	5.30
Granted		-		-		-
Cancelled		-		-		-
Exercised		-		-		-
Expired		-		-		-
Outstanding, March 31, 2026		7,930,785		$3.00 – 9.00	$	5.30
Vested and exercisable, March 31, 2026		7,930,785		$3.00 – 9.00	$	5.30

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	$ 7,018	$ 6,097
Less: accumulated depreciation and amortization	(3,937)	(3,927)
Property and equipment, net	3,081	2,170
Furniture And Office Equipment [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	154	148
Laboratory Equipment [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	2,918	2,918
Computer Equipment [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	127	127
Leasehold Improvements [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	557	557
Manufacturing Equipment [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	7
Construction in Progress [Member]
Property, Plant, and Equipment [Line Items]
Total gross carrying amount	$ 3,255	$ 2,347

SCHEDULE OF COMPONENTS OF LEASE ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Leases
Operating lease assets	$ 2,393	$ 1,583
Current operating lease liabilities	316	427
Non-current operating lease liabilities	$ 2,179	$ 1,258

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	16,034,459	14,089,610
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,918,180	5,491,921
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,930,785	8,017,975
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,185,494	579,714

LEASES (Details Narrative) $ in Thousands		3 Months Ended
LEASES (Details Narrative) $ in Thousands	Sep. 04, 2025 USD ($)	Mar. 31, 2026 USD ($) ft²
Security deposit \| $		$ 2,000
Equipment Agreements [Member]
Lease description	Lease commencement will occur when the equipment is made available to the Company, which is the final onsite installation date and is expected to be approximately 14 months after the execution of the Equipment Agreements, or approximately November 2026. The Company has the option to purchase the asset at the end of the lease term for the amount of $1. At that time, recognition of the related finance lease asset and liability commences. Upon commencement, the lease term will be 60 months (Initial Term), with future lease payments up to approximately $6.2 million. The Company has the right to terminate the lease without cause at the end of the Initial Term or any term thereafter upon 90 days prior written notice without incurring penalties or interest.
Lease term amount \| $	$ 1
Equipment Agreements [Member] \| Maximum [Member]
Lease payments \| $	$ 6,200
Westlake Village [Member]
Area of land \| ft²		4,050
Lease expires		Jul. 14, 2027
Option to extend lease		The lease contains an option to renew for two additional five-year terms and first right of refusal for certain additional space at the same premises. The Company is not reasonably certain that it will exercise this option to renew and therefore it is not included in right-of-use assets and liabilities as of March 31, 2026
San Diego [Member] \| Research and Development Laboratory [Member]
Area of land \| ft²		6,755
Lease expires		Oct. 31, 2035
San Diego [Member] \| Manufacturing Space [Member]
Area of land \| ft²		7,569
Lease expires		Oct. 31, 2035

SCHEDULE OF ASSUMPTIONS USED FOR OPTIONS GRANTED (Details) - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]
Exercise price	$ 4.55	$ 3.95
Expected dividend yield
Expected volatility	109.00%	100.00%
Risk free interest rate, minimum	3.70%	4.40%
Expected term of options	7 years	7 years

SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities	$ 16,936	$ 9,262
Total financial assets	21,939	12,215
US Government Agencies Debt Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities	8,236	7,983
US Treasury Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities	8,700	1,279
Money Market Funds [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Money market funds	5,003	2,953
Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Total financial assets	5,003	2,953
Fair Value, Inputs, Level 1 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities
Fair Value, Inputs, Level 1 [Member] \| US Treasury Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Money market funds	5,003	2,953
Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Total financial assets	16,936	9,262
Fair Value, Inputs, Level 2 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities	8,236	7,983
Fair Value, Inputs, Level 2 [Member] \| US Treasury Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities	8,700	1,279
Fair Value, Inputs, Level 2 [Member] \| Money Market Funds [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Money market funds
Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Total financial assets
Fair Value, Inputs, Level 3 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities
Fair Value, Inputs, Level 3 [Member] \| US Treasury Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Marketable securities
Fair Value, Inputs, Level 3 [Member] \| Money Market Funds [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Money market funds

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses	$ 1,781	$ 1,532
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses	1,462	1,429
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses	319	103
General And Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses	966	1,036
Research And Development Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses	$ 815	$ 496

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue
Operating expenses:
Research and development	5,778	4,698
General and administrative	3,393	3,118
Total operating expenses	9,171	7,816
Operating loss	(9,171)	(7,816)
Other income:
Interest income	173	184
Bond accretion income	70	140
Total other income	243	324
Net loss	$ (8,928)	$ (7,492)
Net loss per share - basic	$ (0.20)	$ (0.21)
Net loss per share - diluted	$ (0.20)	$ (0.21)
Weighted-average shares outstanding- basic	44,150,958	34,926,075
Weighted-average shares outstanding- diluted	44,150,958	34,926,075
Other comprehensive loss:
Unrealized loss on marketable securities	$ (14)	$ (35)
Comprehensive loss	$ (8,942)	$ (7,527)

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

The Company operates as a single One reportable segment as a clinical stage biopharmaceutical company. The Company’s current focus is on developing oncolytic immunotherapies for the treatment of cancer. Segment profit or loss is measured as the net loss reported in the Company’s condensed statements of operations and comprehensive loss.

The Company’s Chief Executive Officer serves as the Chief Operating Decision Maker (CODM). The CODM evaluates performance, allocates resources and conducts planning and forecasting using financial information as presented in the condensed statements of operations. In addition, the CODM reviews research and development expenses by program.

The table below details the Company’s revenues and expenses and reconciles those amounts to the Company’s net loss as computed under GAAP in the statements of operations and comprehensive loss:

SCHEDULE OF SEGMENT INFORMATION

	2026			2025
	Three Months Ended March 31,
	2026			2025
	(in thousands)
Revenue	$	-		$	-

Less:
Research and development, excluding salaries		4,607			3,868
Salaries		2,069			1,494
Insurance		271			219
Stock-based compensation		1,781			1,533
Operating expenses		441			702
Operating loss		9,169			7,816
Other income		241			324
Net loss	$	(8,928	)	$	(7,942	)

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SEGMENT INFORMATION (Details Narrative)	3 Months Ended
SEGMENT INFORMATION (Details Narrative)	Mar. 31, 2026 Integer
Segment Reporting [Abstract]
Number of segments	1

NET LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

The basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following:

	2026		2025
	Three Months Ended March 31,
	2026		2025
Stock options		6,918,180		5,491,921
Stock warrants		7,930,785		8,017,975
Restricted stock units		1,185,494		579,714
Total		16,034,459		14,089,610

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS

	Level 1		Level 2		Level 3		Total
	March 31, 2026
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	5,003	$	-	$	-	$	5,003
Available-for-sale securities:
US Government Agency bonds		-		8,236		-		8,236
US Treasury bonds		-		8,700		-		8,700
Marketable securities		-		8,700		-		8,700
Total financial assets	$	5,003	$	16,936	$	-	$	21,939

	Level 1		Level 2		Level 3		Total
	December 31, 2025
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents:
Money market funds	$	2,953	$	-	$	-	$	2,953
Available-for-sale securities:
US Government Agency bonds		-		7,983		-		7,983
US Treasury bonds		-		1,279		-		1,279
Marketable securities		-		1,279		-		1,279
Total financial assets	$	2,953	$	9,262	$	-	$	12,215

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY (Details)	3 Months Ended
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY (Details)	Mar. 31, 2026 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of restricted shares, beginning \| shares	1,221,432
Weighted average grant date fair value, beginning \| $ / shares	$ 4.41
Number of restricted shares, granted \| shares
Weighted average grant date fair value, granted \| $ / shares
Number of restricted shares, vested \| shares	(29,063)
Weighted average grant date fair value, vested \| $ / shares	$ 5.64
Number of restricted shares, forfeited \| shares	(6,875)
Weighted average grant date fair value, forfeited \| $ / shares	$ 2.29
Number of restricted shares, ending \| shares	1,185,494
Weighted average grant date fair value, ending \| $ / shares	$ 5.30

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash Flows from operating activities
Net loss	$ (8,928)	$ (7,492)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	9	59
Net amortization of premiums and discounts on marketable securities	(70)	(140)
Right-of-use asset	89	80
Stock compensation	1,394	1,423
Fair value of restricted stock units	319	103
Cost of stock option modifications and repricing	68	6
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(10)	(171)
Accounts payable and accrued expenses	1,737	1,118
Accrued payroll and payroll taxes	(580)	(340)
Lease liability	(87)	(81)
Net cash used in operating activities	(6,059)	(5,435)
Cash Flows from investing activities
Purchases of property and equipment	(921)	(30)
Purchase of marketable securities	(14,398)	(2,461)
Proceeds from maturities of marketable securities	6,780	6,000
Net cash (used in) provided by investing activities	(8,539)	3,509
Cash Flows from financing activities
Proceeds from the exercise of stock options	13	14
Proceeds from common stock issued	18,525	9,553
Net cash provided by financing activities	18,538	9,567
Net increase in cash, cash equivalents and restricted cash	3,940	7,641
Cash, cash equivalents and restricted cash
BEGINNING OF PERIOD	5,333	8,565
END OF PERIOD	9,273	16,206
Supplemental non-cash financing disclosures:
Unrealized loss on marketable securities	14	35
Remeasurement of right of use asset and lease liability upon lease extension	$ 896

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	May 03, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2026
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Entity File Number	001-41599
Entity Registrant Name	GENELUX CORPORATION
Entity Central Index Key	0001231457
Entity Tax Identification Number	77-0583529
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2625 Townsgate Road
Entity Address, Address Line Two	Suite 230
Entity Address, City or Town	Westlake Village
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91361
City Area Code	(805)
Local Phone Number	267-9889
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GNLX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		44,840,416

SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting [Line Items]
Revenue
Stock-based compensation	1,781	1,532
Operating expenses	9,171	7,816
Operating loss	(9,171)	(7,816)
Net loss	(8,928)	(7,492)
Operating Segment [Member]
Segment Reporting [Line Items]
Revenue
Research and development, excluding salaries	4,607	3,868
Salaries	2,069	1,494
Insurance	271	219
Stock-based compensation	1,781	1,533
Operating expenses	441	702
Operating loss	9,169	7,816
Other income	241	324
Net loss	$ (8,928)	$ (7,942)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Cash Equivalents and Restricted Cash	Cash Equivalents and Restricted Cash The Company considers all highly liquid marketable securities with original maturities of three months or less at the date of acquisition as cash equivalents. As of March 31, 2026 and December 31, 2025, cash equivalents were comprised of money market funds that totaled $5.0 million and $3.0 million, respectively. At March 31, 2026 and December 31, 2025, there was $2.0 million restricted cash that is held as a refundable security deposit for an equipment lease (see Note 7).
Marketable Securities	Marketable Securities The Company’s marketable securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and non-credit related losses reported as a component of accumulated other comprehensive loss and included in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of other income (expense), net in the Statements of Operations and Comprehensive Loss. There were no realized gains or losses during the three months ended March 31, 2026 and 2025. Bonds with maturity dates subsequent to March 31, 2027, are classified as long-term marketable securities, while bonds with maturity dates on or before March 31, 2027, are classified as short-term.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with shareholders. For the three months ended March 31, 2026 and 2025, comprehensive loss included $14 and $35 of unrealized loss on marketable securities, net of tax, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2024, Financial Accounting Standards Board (FASB) issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses. The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements, among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and depreciation and amortization expense for each caption on the income statement where such expenses are included. The update is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing the potential impact on its financial statement disclosures.

BALANCE SHEET ACCOUNTS

3 Months Ended

Mar. 31, 2026

Balance Sheet Accounts

BALANCE SHEET ACCOUNTS

NOTE 6 – BALANCE SHEET ACCOUNTS

Property and Equipment

The following table summarizes the Company’s major classes of property and equipment:

SCHEDULE OF PROPERTY AND EQUIPMENT

	March 31, 2026			December 31, 2025
	(in thousands)
Furniture and office equipment	$	154		$	148
Laboratory equipment		2,918			2,918
Computer equipment		127			127
Leasehold improvements		557			557
Manufacturing equipment		7			-
Construction in progress		3,255			2,347
Total gross carrying amount		7,018			6,097
Less: accumulated depreciation and amortization		(3,937	)		(3,927	)
Property and equipment, net	$	3,081		$	2,170

Depreciation expense for each of the three months ended March 31, 2026 and 2025 was $9 and $59, respectively.

Construction in progress is related to developments of the Company’s manufacturing and laboratory facilities in San Diego, California.

Accrued Expense

Accrued expenses consist of the following:

SCHEDULE OF ACCRUED EXPENSE

	March 31, 2026		December 31, 2025
	(in thousands)
Accrued research and development expenses	$	5,123	$	3,903
Accrued personnel-related expenses		861		1,440
Other		972		455
Total accrued expenses	$	6,956	$	5,798

As of March 31, 2026, the Company’s accrued research and development expenses were primarily attributable to ongoing clinical trial operations.

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Investments, All Other Investments [Abstract]

SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS

The Company’s marketable securities by type, consisted of the following:

	As of March 31, 2026 (in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
US Government Agency bonds	$	8,240	$	-	$	(4	)	$	8,236
US Treasury bonds		8,704		-		(4	)		8,700
	$	16,944	$	-	$	(8	)	$	16,936

	As of December 31, 2025 (in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
US Government Agency bonds	$	7,977	$	6	$	-	$	7,983
US Treasury bonds		1,279		-		-		1,279
	$	9,256	$	6	$	-	$	9,262

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Legal Proceedings

From time to time, the Company may be subject to various claims and legal proceedings in the ordinary course of business. If the potential loss from any claim, asserted or unasserted, or legal proceeding is considered probable and the amount is reasonably estimable, the Company will accrue liability for the estimated loss. There were no contingent liabilities recorded as of March 31, 2026.

BASIS OF PRESENTATION

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

NOTE 1 – BASIS OF PRESENTATION

Organization and Operations

Genelux Corporation (Genelux or the Company), a Delaware corporation, incorporated on September 4, 2001, is a late clinical-stage biopharmaceutical company located in Westlake Village, California. The Company is engaged in the research and development of diagnostic and therapeutic solutions for cancer for which there is no effective treatment today. The Company is focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat tumor types.

Liquidity and Capital Resources

The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company has experienced recurring losses from operations since inception and incurred a net loss of $8.9 million and cash used in operations of $6.1 million during the three months ended March 31, 2026. These factors raise substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2025 financial statements, has expressed substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to raise additional funds and implement its strategies. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

As of March 31, 2026, the Company had $9.3 million in cash, cash equivalents and restricted cash ($2.0 million in restricted cash) and $16.9 million in marketable securities. However, the Company does not have any committed external source of funds or other support for our development efforts, except for the license agreement (Newsoara License Agreement) the Company entered into with Newsoara BioPharma Co. Ltd, in September 2021 which was subsequently assigned to Newsoara HYK Biopharmaceuticals Co., Ltd. (Newsoara). Until the Company can generate sufficient product revenue to finance its cash requirements, which it may never do, the Company expects to finance its future cash needs through a combination of public or private equity offerings, which may include sales under an “at-the-market” offering program pursuant to the sales agreement the Company has with TD Securities (USA) LLC, debt and/or other capital sources such as milestone payments, royalties or other payments or funding from existing or potential collaborations, strategic alliances, licensing arrangements and other arrangements. Based on its research and development plans, the Company expects that its existing cash, cash equivalents, restricted cash and marketable securities will fund its planned operations into the first quarter of 2027. In addition, because the design and outcome of its anticipated and any future clinical trials are highly uncertain, the Company cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of Olvi-Vec or any future product candidates. The Company’s existing cash balance may not be sufficient to complete the development of Olvi-Vec or any other product candidate.

No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in case of equity financing, or require the Company to grant terms that are not favorable to the Company in future licensing agreements.

Basis of Presentation

The interim condensed financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the SEC regarding interim financial information. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the financial statements and notes thereto contained in the Annual Report.

In the opinion of management, all material adjustments of a normal recurring nature have been made to present fairly the Company’s financial position as of March 31, 2026. Operating results and cash flows for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

SCHEDULE OF PREFERRED STOCK AND COMMON STOCK

The following table summarizes the Company’s shares of preferred stock and common stock:

			Shares
	Par Value		Authorized		Issued		Outstanding
As of March 31, 2026
Preferred Stock		0.001		10,000,000		-		-
Common Stock		0.001		200,000,000		44,840,416		44,840,416

As of December 31, 2025
Preferred Stock		0.001		10,000,000		-		-
Common Stock		0.001		200,000,000		38,139,144		38,139,144

STOCK BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION

NOTE 10 – STOCK BASED COMPENSATION

In August 2009, the Board approved the adoption of the 2009 Equity Incentive Plan (the 2009 Plan). No shares are available for grant under the 2009 Plan.

In September 2018, the Board approved the adoption of the 2019 Equity Incentive Plan (the 2019 Plan). No shares are available for grant under the 2019 Plan.

In June 2022, the Board approved the adoption of the 2022 Equity Incentive Plan (the 2022 Plan). The 2022 Plan provides for the grant of incentive stock options (ISOs) to employees, including employees of any parent or subsidiary, and for the grant of non-qualified stock options (NSOs), stock appreciation rights, restricted stock awards, restricted stock units (RSUs), performance awards and other forms of stock awards to employees, directors, and consultants, including employees and consultants of its affiliates. The 2022 Plan is a successor to the 2019 Plan. The aggregate number of shares of the Company’s common stock initially reserved for issuance under the 2022 Plan is 2,800,000 shares. In addition, the number of shares of the Company’s common stock reserved for issuance under the 2022 Plan will automatically increase on January 1 of each calendar year, starting on January 1, 2024 and continuing through and including January 1, 2032, in an amount equal to 5% of the total number of shares of its common stock outstanding on the last day of the calendar month before the date of each automatic increase, or a lesser number of shares determined by the Board. In January 2026, the number of shares available to be issued under the 2022 Plan automatically increased by 1,906,957 shares, as determined by the 2022 Plan. As of March 31, 2026, the total number of shares reserved for issuance was 3,179,349.

In September 2023, the Board approved the adoption of the Company’s 2023 Inducement Plan (the Inducement Plan) to reserve 1,000,000 shares of the Company’s common stock to be used exclusively for grants of awards to individuals that were not previously employees or directors of the Company as an inducement material to the individual’s entry into employment with the Company. The Inducement Plan provides for the grant of NSOs, stock appreciation rights, restricted stock awards, RSUs, performance-based cash and stock awards, and other stock-based awards. The terms and conditions of the Inducement Plan are substantially similar to the Company’s stockholder-approved 2022 Plan. In June 2025, the Board approved an increase to the number of shares of the Company’s common stock available for issuance under the Inducement Plan by 1,000,000 shares. As of March 31, 2026, the total number of shares reserved for issuance under the inducement Plan was 847,101.

The following table presents a summary of awards outstanding:

SCHEDULE OF AWARDS OUTSTANDING

	2009 Plan		2019 Plan		2022 Plan		Inducement Plan		Total
	March 31, 2026
	2009 Plan		2019 Plan		2022 Plan		Inducement Plan		Total
Stock options		1,497,118		1,634,924		2,644,838		1,141,300		6,918,180
RSUs		-		-		1,185,494		-		1,185,494
Total awards outstanding		1,497,118		1,634,924		3,830,332		1,141,300		8,103,674

The following table summarizes stock-based compensation expenses included in operating expenses:

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
General and administrative	$	966	$	1,036
Research and development		815		496
	$	1,781	$	1,532

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
Stock Options	$	1,462	$	1,429
RSUs		319		103
Stock-based compensation expenses	$	1,781	$	1,532

Restricted Stock Units

The following table summarizes the activity of the Company’s RSUs:

	Number of Restricted Shares			Weighted Average Grant Date Fair Value
Outstanding, December 31, 2025		1,221,432		$	4.41
Granted		-			-
Vested		(29,063	)		5.64
Forfeited		(6,875	)		2.29
Outstanding, March 31, 2026		1,185,494		$	5.30

As of March 31, 2026, $3.7 million of unamortized stock compensation expense remains.

Stock Options Awards

Option exercise prices are set forth in the grant notice, without commission or other charge, provided however, that the price per share of the shares subject to the option shall not be less than the greater of (i) 100% of the fair market value of a share of stock on the grant date, or (ii) with respect to awards under the 2019 Plan or 2022 Plan, 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company. Options to employees, directors and consultants generally vest and become exercisable over a period not exceeding four years. Options typically expire ten years after the date of grant.

The Company’s policy is to recognize compensation cost for awards with only service conditions on a straight-line basis over the requisite service period for the entire award. Additionally, the Company’s policy is to issue new shares of common stock to satisfy stock option exercises. The Company applied fair value accounting for all share-based payments awards. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model.

In September 2025, the Board approved a reduction in the exercise prices of certain stock options held by employees to purchase shares of the Company’s common stock under the Company’s 2022 Plan, 2019 Plan and 2009 Plan that had exercise prices greater than $5.00 per share. The exercise price for such options was reduced to $3.33 per share, which was the closing price of the common stock on September 1, 2025, the effective date of the reduction. The total cost of the repricing was $1.3 million, of which $0.7 million was recorded as of September 30, 2025. The remainder of the cost will be recorded over the future vesting periods of the options.

In September 2022, the Board approved a stock option repricing whereby the exercise price of previously granted and unexercised options held by certain employees, directors and key advisers with exercise prices between $9.00 and $10.50 per share, was adjusted to $6.00 per share, the closing price of the Company’s initial public offering. The total cost of the repricing was $2.73 million, of which $2.72 million was recorded as of December 31, 2024, and the remaining cost was recorded during the twelve months ended December 31, 2025.

The assumptions used for the options granted during the period are as follows:

	Three Months Ended March 31,
	2026			2025
Exercise prices	$	4.55		$	3.95
Expected dividend yield		-			-
Expected volatility		109	%		100	%
Risk-free interest rate		3.7	%		4.4	%
Expected term of options		7.0			7.0

The table below summarizes the Company’s stock option activities for the three months ended March 31, 2026:

SCHEDULE OF STOCK OPTION ACTIVITY

	Number of Shares Subject to Outstanding Options			Weighted Average Exercise Price (Per share)		Weighted Average Remaining Contractual Terms (in Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2025		6,711,979		$	3.92		4.06		-
Granted		288,154			3.60
Cancelled		(18,492	)		2.65
Exercised		(5,542	)		2.29
Expired		(57,919	)		5.67
Outstanding at March 31, 2026		6,918,180		$	5.20		6.33		162
Vested and exercisable, March 31, 2026		4,337,341		$	5.03		3.95		-
Unvested, March 31, 2026		2,580,839

As of March 31, 2026, unvested stock option expense of $10.9 million remained and will be amortized over the remaining vesting period, through January 2030.

Stock Warrants

The table below summarizes the Company’s warrants activities for the three months ended March 31, 2026:

SCHEDULE OF WARRANTS ACTIVITIES

	Number of Warrant Shares		Exercise Price Range Per Share		Weighted Average Exercise Price
Outstanding, December 31, 2025		7,930,785		$3.00 – 9.00	$	5.30
Granted		-		-		-
Cancelled		-		-		-
Exercised		-		-		-
Expired		-		-		-
Outstanding, March 31, 2026		7,930,785		$3.00 – 9.00	$	5.30
Vested and exercisable, March 31, 2026		7,930,785		$3.00 – 9.00	$	5.30

There is no intrinsic value for warrant shares outstanding at March 31, 2026.

Employee Stock Purchase Plan

The Company’s 2022 Employee Stock Purchase Plan (ESPP) permits eligible employees to purchase Company shares on an after-tax basis in an amount between 1% and 15% of their earnings: (i) on May 16th of each year at a 15% discount of the fair market value of the Company’s common stock on November 17th of the previous year or May 16th of the then-current year, whichever is lower, and (ii) on November 15th of each year at a 15% discount of the fair market value of the Company’s common stock on May 17th or November 15th of the then-current year, whichever is lower. The ESPP includes an “evergreen” feature, which provides that an additional number of shares of common stock will automatically be added to the shares authorized for issuance under the ESPP on January 1st of each year, beginning on January 1, 2024 and ending on (and including) January 1, 2032. The number of shares added each calendar year will equal the lesser of 1% of the Company’s common stock outstanding on December 31st of the preceding calendar year or 2,100,000 or a lesser number as determined by the Board. In January 2026, the number of shares available to be issued under the ESPP automatically increased by 381,391 shares, as determined by the Plan. During the three months ended March 31, 2026, no shares were purchased under the ESPP and as of March 31, 2026, 1,590,932 shares remain authorized and available for issuance.

STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 9 – STOCKHOLDERS’ EQUITY

The following table summarizes the Company’s shares of preferred stock and common stock:

			Shares
	Par Value		Authorized		Issued		Outstanding
As of March 31, 2026
Preferred Stock		0.001		10,000,000		-		-
Common Stock		0.001		200,000,000		44,840,416		44,840,416

As of December 31, 2025
Preferred Stock		0.001		10,000,000		-		-
Common Stock		0.001		200,000,000		38,139,144		38,139,144

The Company’s Amended and Restated Certificate of Incorporation authorizes the Company to issue up to 200,000,000 shares of its common stock. Holders of shares of common stock have full voting rights, one vote for each share held of record. Shareholders are entitled to receive dividends as may be declared by the Company’s board of directors (the Board) out of funds legally available therefore and share pro rata in any distributions to shareholders upon liquidation. Shares of common stock do not include conversion, pre-emptive or subscription rights. All outstanding shares of common stock are fully paid and non-assessable. As of March 31, 2026, and December 31, 2025, there were 44,840,416 and 38,139,144 shares of common stock issued and outstanding, respectively.

In January 2026, the Company completed an underwritten offering of 6,666,667 shares of its common stock at an offering price of $3.00 per share. The net proceeds received from the offering were $18.5 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company.

- Definition

The entire disclosure for equity.

+ References

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

There have been no changes to the significant accounting policies disclosed in the Annual Report.

Cash Equivalents and Restricted Cash

The Company considers all highly liquid marketable securities with original maturities of three months or less at the date of acquisition as cash equivalents. As of March 31, 2026 and December 31, 2025, cash equivalents were comprised of money market funds that totaled $5.0 million and $3.0 million, respectively.

At March 31, 2026 and December 31, 2025, there was $2.0 million restricted cash that is held as a refundable security deposit for an equipment lease (see Note 7).

Marketable Securities

The Company’s marketable securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and non-credit related losses reported as a component of accumulated other comprehensive loss and included in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of other income (expense), net in the Statements of Operations and Comprehensive Loss. There were no realized gains or losses during the three months ended March 31, 2026 and 2025. Bonds with maturity dates subsequent to March 31, 2027, are classified as long-term marketable securities, while bonds with maturity dates on or before March 31, 2027, are classified as short-term.

Comprehensive Loss

Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with shareholders. For the three months ended March 31, 2026 and 2025, comprehensive loss included $14 and $35 of unrealized loss on marketable securities, net of tax, respectively.

Recent Accounting Pronouncements

In November 2024, Financial Accounting Standards Board (FASB) issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses. The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements, among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and depreciation and amortization expense for each caption on the income statement where such expenses are included. The update is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing the potential impact on its financial statement disclosures.

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash, cash equivalents and restricted cash	$ 9,273	$ 5,333
Marketable securities	16,936	9,262
Prepaid expenses and other current assets	545	535
Total current assets	26,754	15,130
Property and equipment, net	3,081	2,170
Right of use assets	2,393	1,583
Other assets	144	144
Total Assets	32,372	19,027
Current liabilities:
Accounts payable and accrued expenses	6,095	4,358
Accrued payroll and payroll taxes	861	1,440
Lease liabilities, current portion	316	427
Total current liabilities	7,272	6,225
Lease liabilities, long-term portion	2,179	1,258
Total liabilities	9,451	7,483
Stockholders’ equity:
Common stock, par value $0.001, 200,000,000 shares authorized; 44,840,416 and 38,139,144 shares issued and outstanding, respectively	45	38
Treasury stock, 433,333 shares, at cost	(433)	(433)
Additional paid-in capital	315,780	295,468
Accumulated other comprehensive income	(5)	9
Accumulated deficit	(292,466)	(283,538)
Total stockholders’ equity	22,921	11,544
Total Liabilities and Stockholders’ Equity	$ 32,372	$ 19,027

LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases

SCHEDULE OF COMPONENTS OF LEASE ASSETS AND LIABILITIES

The components of lease assets and liabilities along with their classification on the Company’s condensed balance sheets were as follows:

Lease Assets and Liabilities	Classification	March 31, 2026		December 31, 2025
		(in thousands)
Operating lease assets	Right-of-use assets	$	2,393	$	1,583
Current operating lease liabilities	Lease liabilities		316		427
Non-current operating lease liabilities	Lease liabilities, net of current portion		2,179		1,258

SCHEDULE OF LEASE COST

	2026		2025
	Three Months Ended March 31,
	2026		2025
	(in thousands)
Lease Cost Classification
Research and development	$	48	$	26
General and administrative expense		11		13
Lease cost		11		13

SCHEDULE OF MATURITIES LEASE LIABILITIES

The following table presents maturities of operating lease liabilities on an undiscounted basis as of March 31, 2026:

Year	Amounts
	(in thousands)
2026 (remainder)	$	403
2027		489
2028		326
2029		336
2030		347
Thereafter		1,883
Total	$	3,784
Less imputed interest		1,289
Total operating lease liabilities (include current portion)	$	2,495

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (8,928)	$ (7,492)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

LICENSE AGREEMENTS (Details Narrative) - Newsoara License Agreement [Member] $ in Millions	1 Months Ended
	Sep. 30, 2021 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront and milestone payment	$ 11.0
Upfront payment	5.0
Milestone payment	6.0
Additional development and commercial milestone payments	$ 160.5